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The Value of a Good Reputation: Turning Complaints into Golden Opportunities

The Value of a Good Reputation: Turning Complaints into Golden Opportunities

Around 96% of clients and customers do not file formal complaints about dissatisfied experiences, according to the findings of 1Financial Training Services. The same source quoted that while they do not complain, 91% of them will simply not come back. For a business or a personal brand, this can spell disaster. To remain operational, it is imperative for businesses to care for their customers’ opinions and feedback.

Why Complaints Are Good

While formal complaints occur rarely, 92% of customers will call brands out on poor services and negative experiences through online platforms, according to Sprout Social. This is not necessarily a bad thing. The same source says that 75% of customers feel better connectivity to the brands precisely because they are able to air their complaints. So it is increasingly normal to post complaints on reliable platforms like Complaint Base. For business owners, this can understandably be daunting but it presents a truly golden opportunity to turn things around. Customers that complain do so because they are still interested in the brand itself. They would like to continue patronizing it following positive action by the brand. If the business does not have a good reputation for addressing complaints, that’s when client engagement can dip.

The Importance of a Good Reputation

In the world of business, reputation can be everything. Company social media profiles have sections that enable clients to leave reviews. They can also talk about their experiences. Those posts have power. 94% of customers say that a review they have read has led them to patronize or avoid a business, according to the 2018 survey of ReviewTrackers. A good reputation for addressing complaints can positively affect a company’s bottom line. In 2017, Elon Musk took roughly 30 minutes to address a client complaint through Twitter and it helped boost Tesla’s positive reputation. So how can a business go about managing their reputation?

Reputation Management

As the web is the primary method of expressing feedback, it helps to set up a Google Alert for your business name. That way, you will automatically get notified if someone mentions your brand’s name. An alert helps to give you an understanding of the general consensus of your market toward your services and company. Another method of managing your brand’s reputation is through responding in a timely and respectful manner to reviews. Increasing engagement with consumers can build a reputation for a willingness to help out. You can manage your brand’s reputation by paying close attention to the tone and timing of social media posts. Insensitive ads and posts can drive away clients and generate bad press for your business.

The reputation of a business can greatly impact its longevity. With consumers being more vocal online, it would be smart business to harness these golden opportunities. They can help a brand showcase a willingness to address complaints and engage with their market. At the end of the day, a good response can do more for a business than a carefully planned marketing campaign.

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