How important is online reputation in modern business
Once upon a time, back in those days when there was no usage of internet or in other words when the internet was not invented, managing the business was pretty much easier. It was far easier because all you need to do is to provide your consumers good quality of services. Keep them happy with your quality of work and encourage referrals by word of mouth. In most of the rare cases, those time businessmen used to face problems and if they had, it was solved within fraction of seconds with face to face conversation with the consumers. It never took that long or harder way to keep the consumers happy and smiling.
But now scenario got fully changed after the invention of internet. In this fast paced world, following old as well as traditional methods would not be enough. In this modern age of social networking where various websites and other instant methods of communication have taken place in the life of people, business Thailand must be ultra-careful of maintaining their reputation whether it is online or offline.
A businessman need to very cautious to maintain its good reputation in the eyes of people. Reputation is an intangible asset which cannot be touched but can be felt among the people. It takes long-long years to build a company’s reputation but takes just a few seconds to break it. The reputation of a business is essential for the growth and the survival of the company.
A negative reputation can affect the sales rate of the company and lead to loss of the company. A good online reputation is utmost importance for a business. Due to all technological advancements, people have become extremely net savvy and whenever they need any information about any professional outfit, they always sift through the online reviews.Infact good or bad online reputation can make or break any organization. Some of the importance of online reputation has been discussed below.
1. Helps to increase in sales
Now a day’s most of consumers make purchase after doing research of brands, products or services before they think of making a final decision for purchase. In order to increase the sales, a company in Thailand, must ensure to have an account in social media. A company must also ensure to update information about the related product or services they are offering to consumers and post it to social media, so that the existing consumers get a glance and stay updated by following the post. A company must try to post regularly to grab the attention of the new consumers. Personal interaction of the consumers may lead to boost sales of the products. A personal interaction with the consumer on social media help the company to understand the need and their want for the product and the changes they need to made with the help of the feedback.
2. Attracting new consumers
The internet also plays a key role in propagating the word of mouth publicity. If consumers find good reviews of about certain product or services, we human Beings have the tendency to check it out and spread positive word of mouth publicity if we like it. By spreading good reviews on social media, it would help to attract the attention of the new consumers. In other words, it would be indirect marketing for the company which adds to the credibility of the company.
3 Online insights
Internet is a biggest source of information and reliability or the trustworthiness factor of any outfit is also easy to check.Alongwith the positive feedbacks, it is also very common to see negative feedback on business social media pages. If the problems are not being addressed properly by the company, then a negative comment or a review could be the reason of downfall of the business or result in the failure of the business. A negative feedback on social media spreads like wildfire. So establishing an online presence of your company would help to gain a valuable insight into what your clients or competitors are saying about you and your comany.If something goes wrong, your company can take an action for solution before it spreads on social media
4. Helps in the expansion of the business
As the internet is used worldwide, a good online reputation also helps a company to expand its boundaries and reach out to people from different nooks and corners which in turn helps in expanding the customer base of the company.
5. Gaining trust and credibility
“Trust and credibilty”are most two important and crucial factors that can either make or break your business online reputation. If you can deliver as per the consumer expectations, there might be good chances they will spread the word about their experiences and that would help to build the credibility of your Thai business. Try to make an effort to earn the trust of the consumers that would help you create strong brand image and at same time would attract more and more potential consumers for years to come
6. Show your best side
Potential clients always do their research on the basis of online information before of thinking doing business with any respective company. It is not possible to get an idea about the company they planning do business with. Online presence helps your client to judge your business on the basis of the information available to them. Whatever product or services you offer to consumers, the reviews or the feedbacks given by the consumers appears online and it may remain visible for longer time. A better reputation offers company to come in main lime light to attract more customers which may result in increased revenue. So showing best side of your company always help to gain more consumers more popularity and earning more goodwill. Always try to remember that it only takes few seconds to destroy brand’s online reputation that took years to build it.
As Startup Specialists we have used our knowledge and experience to set up a free portal of frank, accurate information. Do check out www.startupinthailand.com for more details on doing business in Thailand /Asia or for a free startup consultation.
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