Mar 18, 2020 in Business Coaching
Don't lose hope if your business has lost its reputation.
An Online Business Coach can help you to rebuild it. Message one for free today.
With the increasing popularity of online reviews, business reputation has amassed an entirely new meaning in past years. Before the internet’s existence, a reputation could only be ruined by word of mouth, but today, damning online reviews can take a huge toll on the success of a business.
As many as 70% of a business’s potential customers will research available online reviews before making a purchase, and barely more than half of interviewed consumers stated that they would use a business with a rating of fewer than four stars.
Another statistic that’s eye-opening for many business owners is that, as soon as a business loses its five-star reputation, it risks sacrificing 12% of its customer base.
What if your establishment has lost its business reputation? What can happen?
The consequences of a bad reputation.
Unfortunately, even just a couple of devastating online reviews can lead to some serious consequences. For instance, a poor reputation can result in:
A loss of revenue.
A lack of job applications from talented candidates.
Regular and casual Clients taking their business elsewhere.
The need to downsize a business.
Employees leaving the company with difficult-to-fill job openings.
The need for extra effort to retain current clientele.
For a small business, dealing with even one or two of these consequences can be difficult, but a poor reputation means that several of these factors may come together to create a disastrous conglomeration of business-ending factors.
Regaining the public’s trust.
Luckily, just about anything can be mended with patience, dedication, and a bit of expert guidance. Even if your business’s reputation has tanked and your clientele is dwindling, not all hope is lost! We highly recommend consulting with an Online Business Coach to discuss your business’s reputation. During online business coaching sessions, you can work with a professional to draft an informed and effective plan to rebuild your reputation and regain your Clients’ trust.
If your business has been lucky enough to preserve its reputation, meeting with a Business Coach remains a good choice as you strive to maintain success.
These Business Coaches can teach you what you need to know about reputation management (including online reputation management), how to maintain your reputation, or how to improve it. Plus, it’s easy to gain one-on-one access to a Business Coach thanks to our expansive catalog of Experts who are waiting for your call. Browse through our list of Online Business Coaches now and message them for free.