August 19, 2020

10 Reputation management statistics every executive and business should know

Photo by Payam Tahery on Unsplash

At a time of new normal in the online world, a company’s online reputation matters more than you know. Potential customers can easily scope out the companies and executives they are considering doing business with, gathering information at the click of a mouse and making their spending decisions accordingly.

A multitude of studies from major analytic firms including Google analytics, surrounding online reputation and its impact are simply startling, and no business owner can afford to ignore these facts. If you think reputation management is only for other businesses and brands, just consider these stats:

  1. Nearly half of U.S. adults who have Googled themselves say that what they saw was not entirely positive. When your name is closely tied to your company, this could have a significant effect on your business.
  2. 65% of Googlers view online searches as their most trusted source of information about both individuals and businesses — meaning search results have an esteemed level of trust than any other source.
  3. More than 90% of adults use search engines to find information online. Think about how you and your company looks in Google search results — and what you can do to improve those perceptions.
  4. A single negative article posted online can result in the loss of 22% of business, especially if the negative information appears on the first page of a search engine query.
  5. 9 out of 10 consumers read online reviews before they visit a business. What will those consumers find when they Google your name?
  6. If a business has just two negative mentions on the first page of a Google search, the business mentioned could lose as much as 44% of its business. Three negative reviews means risking the loss of nearly 60% of business, while four bad reviews could impact 70% of a company's business.
  7. Nearly half of those surveyed said that something they found in an online search caused them to not do business with a given company.
  8. Online reviews have a major impact, influencing nearly 70% of purchasing decisions — and this percent is only expected to grow as digital natives enter the workforce and start earning their own money.
  9. Shoppers are trusting online reviews as much as a personal recommendation, with some 84% of those surveyed saying that they trusted online reviews as much as a personal recommendation.
  10. 93% of internet searchers do not go past the first page, and the vast majority look at only the first 10 search results. If your business is not on the front page of a Google search, it is essentially invisible.

To summarise, search results form the bulk of your business reputation. If potential customers do not like what they see when they Google using a keyword (ex: name, business), they are unlikely to move forward with further engagement with you. Reputation management is a critical part of doing business today, and protecting your reputation online and off should be one of your top priorities.

Our team here at Adjustment can discuss the proactive or defensive reputation options available. Get in touch with one of our experts by clicking here