| Jun 29, 2020, 3:56pm EST

The High Cost of a Bad Reputation: What You Don’t Know Could Hurt You

A bad online reputation can really hurt a company, individual and your bottom line.

When I first started Massive — and still today — I was struck by the naive blindness with which people trust Google. And the statistics bear it out — when a potential customer or client finds you, your name, or a product or service you offer, there is a 77% chance they will look into you further. However, if this search pulls up one or more negative result? Then suddenly your chance of converting that customer becomes only 5%. That’s incredibly low! And, with how easy it is for just about anyone to falsify negative information on the internet today, it’s also a terrible reason to lose business.

Related: Even Saints Need Reputation Management

What most don’t look at is the lost value of a bad online reputation; How much money are you really losing? Is it really possible to put a number on it?

Well, according to a defamation lawsuit, where Dietz Development sued a reviewer for lost business and won $750,000, it is possible to put a number on it. And you might find you’re losing quite a lot when you do.

Defamation Graph

This is a graph of one of Massive’s clients showing “Paid Conversions” before and after defamation. As you can see, the online defamation resulted in over 50% revenue loss.

The number one thing businesses and executives can do to protect themselves and safeguard their online reputations is to actively manage how they appear online. Literally anyone can post negative information online, and whether it’s true or not is irrelevant — such posts can take on a life of their own.

By knowing what others are saying and how their brands are viewed online, businesses and executives can take a proactive approach to reputation management. They can begin to rebuild their shattered reputations with the help of experts like Massive. They can continually monitor the internet and check their own search results.

Related: Bettering Your Brand & Safeguarding Your Reputation: How To Build A Digital Wall

Without such an approach to reputation management, it can be difficult — if not impossible — to protect an established brand from negative online attacks. In the 21st century, brands and businesses are inextricably intertwined, and proactive reputation management is the best defense as well as the best way to keep those profits rolling in.

If you think your online reputation may be harming your profits, look for solutions to mitigate for find professionals who can assist.

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