Having a positive reputation is very important when attempting to successfully operate your business.
Customers rely on what they know or what they believe to know about an organization when determining where to spend their money. Word-of-mouth between consumers and product reviews help to establish an organizations reputation. Companies can also help improve their reputations by contributing to better society and the community in which they operate in.
Participating in corporate social responsibility can help a company improve it’s reputation by increasing the trust that exists between consumers and the organization. Increasing the level of transparency that exists allows consumers to strengthen that trust and consumers are more likely to respect an organization that tries to improve the world that they live in.
How a consumer feels about a company is directly related to whether or not they decide to become a customer of that organization. If a company has a negative reputation, consumers are less likely to choose to purchase goods or services from them. Companies gain a negative reputation if they use tactics such as false advertising or lie about the quality of a product. Consumers talk to each other when suggesting companies or products and are very quick to share negative experiences with one another. If a consumer has an above average experience with a company, they are more likely to recommend the business to a friend in order to increase the sales of the company. Customer reviews on websites also help spread a negative or positive reputation for a company.
Transparency is when a company chooses to let their processes and operations be known and visible to the public. This helps encourage ethical behavior because the’re organization knows that any choice that they make will be visible to all of it’s shareholders. Customers have more trust in companies with greater transparency because they believe it to be less likely that the company will act unethically.
Read Fusion Agency’s blog for more tips on how you can improve your companies reputation.
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