What does reputation actually mean?

Reputation determines the esteem in which a product, company or service is held by others, i.e. whether customers trust it or not. The decisive question is whether and, above all, how much people trust companies and their products. ProvenExpert.com reveals what constitutes a good reputation and how you can best build and maintain it in order to win satisfied customers in the long term.

Reputation overview:

1. What is reputation?
2. Positive reputation through customer reviews
3. Building a reputation ─ but how?
4. How does successful reputation management work?
5. Reputation checklist


What is reputation?

Numerous definitions can be found online, such as that of the Gabler Business Encyclopedia. Reputation is explained there as follows: Reputation describes the standing of a person or an organization based on experience. This plays an essential role in assessing future behavior - is my counterpart someone I want to interact with or not? But what does this mean in concrete terms? What does this definition mean for you and your company?

Terms such as repute, prestige, honor and virtue or, in business, standing, fame or good name are other names for the concept of reputation. A distinction is made here between the reputation that a person has and that which a company or brand earns. For a company, this means how it is perceived by all its stakeholders (buyers, users, investors, etc.). This primarily involves reviewing and evaluating past events and opinions and using them as a basis. Based on this, future behaviors are then derived as to whether or not you as a company and your reputation are trusted. Four dimensions are characteristics of a good reputation: Credibility, reliability, trustworthiness and responsibility.

What else can you learn about reputation? Dive deeper into the four dimensions of reputation.

 

 

Positive reputation through customer reviews

A good reputation is not built overnight. Rather, it is the result of regularly incoming reviews that create a certain image of your company. It is important to manage this positively. A negative press report can quickly scratch or even severely shake your good reputation. Even though a company's reputation cannot be measured as a financial value, it has a greater impact on the company and its sales.


Often, companies engage in more of a crisis management approach when the damage has already been done. Actively cultivating a good reputation pays off, with annual sales being shown to increase by up to 54%. Reputational risks can be identified and avoided at an early stage with only a small, regular effort.

As a rule of thumb, be proactive and preventive, and do not wait until a problem arises. Identify potential risk factors early, check and evaluate all reviews on the internet periodically, and actively collect new reviews from your customers regularly. Trust is essential to the success of your business. Therefore, it is important to keep track of all platforms on which you can be reviewed. Setting various Google Alerts or using software to manage all your reviews can help.


Building reputation - but how?

What is the difference between corporate identity and corporate image? Your reputation represents an intangible asset for your company. For this reason, you should never leave to chance which image of you, your company, and the products and services is relayed. The corporate image defines you, but reality and imagination can often diverge. Every brand radiates a certain image, and is perceived in a certain way by the outside world. A company's image is always created at the emotional level, so users and customers need to develop an emotional bond with your company or its products. Address your customers' problems or wishes directly, make them see why you, your company and your performance can help to simplify their lives. Over time, the external image can thus consolidate and stabilize, but that doesn't mean you can simply lean back at this point. The external image is subject to constant dynamics and must therefore always be monitored.

Corporate identity is your entrepreneurial self-image: How do you see your company, your products, your brand? The personality, behavior, design and communication of your company play a decisive role in your self-image. These four areas should complement each other to create a stable public perception. An appealing reputation prevails when a brand radiates credibility and trust in the long term and even minor fluctuations cannot damage the image in the long term.

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How does successful reputation management work?

External and self-image should always match in order to appear credible over time. But what can you do to gain a distinct competitive advantage? Your good name is your top priority and you actively manage your reputation. You regularly respond to reviews and are available to your customers and users. But do you know where exactly people are talking about you online? Tracking customer reviews on the web can quickly escalate into a full-time job. If you focus only on the best-known review platforms, you may miss out on information regarding your reputation online. Your customers want to be heard - so you need to respond to both praise and criticism in equal measure and, above all, promptly and appropriately. With ProvenExpert.com. you can keep track of your online reputation, bundle several hundred review platforms and sites, and also get tips on how to best deal with reviews - even if it' s a hailstorm of criticism.

Reputation checklist

Use these 5 tips to positively influence your reputation, stabilize it in the long term, and actively manage it.

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ProvenExpert is the online platform for qualified customer feedback and review aggregation. A tool that enables business owners and service providers of all sizes to actively seek customer reviews with industry-specific survey templates, bundle existing customer reviews in one location and present the overall score in a way that makes it more effective. Already more than 150,000 entrepreneurs and service providers of all sizes benefit from ProvenExpert.