Experts who offer reputation marketing insights state that a great online and offline reputation is vital for business success. According to an article posted at Expertise.com, (@ExpertiseLocal) simply put, a bad reputation translates to poor sales and low profits, while a good reputation can help ensure a thriving business.
Listed below are some of the ways existing reputations can affect the continued viability of businesses, as well as the prospects of employers and their applicants.
How Reputation Affects Businesses
Business owners should heed the following statistics: around 88% of consumers read reviews about products or services before making purchases, and around 79% of consumers consider online and personal recommendations before finalizing their purchases. In other words, a single negative review can impact your business by more than 80%.