A business's online reputation is extremely important, and many business owners understand this. According to a recent study conducted by TripAdvisor, 97% of business owners agree that online reputation management is important. Although most business owners understand the importance of their own online reputations, many do not understand that their clients online reputations are also very important. If your client's online reputation is negative, it could be negatively impacting your business. There are many reasons for this, but in this article, I will be discussing the four main reasons why your client's online reputation is just as important as your own online reputation.
1. It influences Your Own Online Reputation
If you are in business with an individual or corporation that has a negative online reputation people may assume negative things about you and your business as well. As a result your online reputation will be negatively impacted. Consider carefully whether it makes sense to do business with anyone who has a negative online reputation that can't be fixed. Although there is no way to fully control what people say about you online, doing things like responding to reviews, being active on social media, providing good customer service, and keeping all of your business accounts safe from hackers with database security are all excellent ways in which you can help improve your online reputation. Your clients should be keeping these same practices.
2. It Can Impact Sales
Believe it or not, your client's online reputation doesn't just impact your own online reputation it also hurts your business's bottom line as well. This is because that many consumers are influenced to either buy or not buy a product or service based on what they read online. Therefore, if you're closely associated with a client who has a negative online reputation both of your sales are going to be negatively impacted.
3. It Can Lower Trust
If your customers find out that you are in business with some people who are not well liked within the online community, they may lose trust in you and your business. According to a survey conducted by BrightLocal, 74% of consumers credit positive reviews with making them trust a local business more. If you really think about it, this concept makes perfect sense when it extends to you and your clients as well.
Let's say that your stockbroker is in business with some shady people who have been accused of stealing money, or insider trading. Any rational person under those circumstances would be concerned, and try to find a new stockbroker - even if their current stockbroker has done nothing wrong and is the most ethical person in the world. This same ideology applies here as well. Even if your company is the most ethical and reliable company in the world, by being in business with shady people, you will ultimately lose the trust of your clients.
4. It Hurts Your Ability to Generate New Business
Every business wants to expand at some point in time and the only way to do that is by generating new business. It is almost impossible to expand your business if you can't get new clients. By being in business with brands or individuals with negative online reputations, you are decreasing your chances of accomplishing that goal. Most people would rather not be in business with someone who represents a brand or individual with a negative online reputation.
Before you agree to do business with a new client make sure their online reputation is positive - or you could be hurting your own business. Many business owners understand the importance of their own online reputations, but don't fully understand the impact that their client's reputation has on their business. It's important to consider not only your own online reputation, but the online footprint of everyone you do business with.