You may not realize how damaging a negative online image to your business can be. Unfortunately, some business owners believe that only a significant scandal can damage their online reputation.
Most people assure that they have no reason to worry about their bad press if the brand does not suffer any significant PR failures. Thus, they believe that their bad press isn’t nearly as bad as some brands’.
The following are three essential ways in which a negative online reputation hurts your business:
It isn’t all that surprising that a bad online reputation can result in customers leaving – but it’s still something worth exploring. A report released by Cone Communications found that 4 out of 5 consumers changed their purchase decision after reading negative information online.
Is it possible for you to lose 80% of potential new customers because they find you online as their first impression of your brand? Most likely not, which is why it’s important to keep listening to former customers to make sure they don’t poison the waterhole for new business.
A lousy brand image can rapidly damage a business’ reputation among consumers. Those that don’t realize that negative comments, reviews, and posts can also prove a human resources nightmare, particularly when it comes to recruiting.
When hiring candidates, they will use the Internet to read up on your business before considering a job offer, just as consumers do before making a purchase.
A negative brand image can influence overall corporate morale and risk passive candidates in your organization being lured away by your competition on top of losing candidates you want.
In addition to losing morale, you lose quality, market presence, and productivity if you’re caught in the same cycle listed above.