Reputation is very important in business because it is not just one aspect of your business
“It takes 20 years to build a reputation but five minutes to ruin it. If you think about that, you will do things differently.” Warren Buffett.
It is made up of all of the aspects of your business. Brand reputation is an interconnected system that fuels itself. As a result, a good reputation is a must for businesses that want to continue to grow. Gone are the days when brand reputation was something only large-scale corporates needed to think about, In these days Even small businesses have a reputation to uphold. In fact, smaller businesses are at a far bigger risk in the case of a damaged reputation, as they lack the resources that a large sized business has to recover from a PR disaster.
Every brand needs a reputation because it puts your brand on the map, helps it to stand apart from the competition, and gives people a starting point for engaging with it. Having no reputation is just as bad as having a bad reputation. At this time, Every business owner or company are seeking for good brand reputation and trying to do every possible thing to make this happen. Every business owner wants people to like, have good perceptions and positive feedback about their business.
The rewards of having a good brand reputation are greater revenue, better relationships, and more opportunities. having a good brand reputation gives strong wings to business to grow and perform better than their competitors. A good brand reputation facilitates engagement with new people and creates a better relationship in your network. The more people you know, and the more people who like you, the more opportunities you will have to spread the word about your business.
Good brand reputation is not only what current and potential customers use to form an opinion about your brand; these opinions are that which influence other peoples’ and future customers’ opinions as well. Your brand reputation amplifies itself. Having a good brand reputation provides you a competitive advantage, Having an online presence and good products and services are great for getting customers. However, what about getting customers to choose you over your competitors? A good brand reputation is important because it can help distinguish you from competitors, and even be the deciding factor in whether someone chooses you over them.
To grow our business we need more customers, we need more customers to trust our brand. Having a good brand reputation will be a major factor in their decision making and will help us to find and engage with more customers.
Reputation isn’t just about making your brand & business look good. It’s about ensuring that your brand survives in the larger business ecosystem and continues to grow. So take your reputation seriously, and make having a good reputation your priority.