Reputation Management is defined as the understanding, management and enhancing of a business' reputation. This was initially a concern of the public relations department but with the advent of internet and globalization, reputation management is trending at an immense rate. This branch of management caters to the building of positive reputation of the company through the use of internet by adopting measures such as catering to customer complaints online. It also focuses on removing all the incorrect information about the organization and instead publishing the actual and positive information online. The advent of social networking and internet in every home has made the concept of reputation management a must for every organization.
Online Reputation management can be defined as the process of monitoring and analyzing the content present online about the concerned business organization. It emphasizes on highlighting the positive feedbacks and putting down the negative search results. It makes the online users view the actual side of the company instead of being exposed to the negative rumored information.
Why is Reputation Management necessary?
There are various types of reputation management depending upon the main purpose for which this management has come into consideration. Building Reputation management, this type of management focuses more upon building of the reputation of the concerned organization. It is mainly undertaken by the new business organizations. Maintenance Reputation Management, this branch of management deals with the maintaining of the current reputation of the organization. These are a must for the already established companies having a good reputation. The last one being Recovery Reputation Management, this branch emphasizes upon recovery of the bad reputation of a business. It mainly caters to self-promotion and hiding of the bad reputation causing factors.
There are numerous advantages of reputation management. Firstly, it significantly caters to the customer satisfaction. The companies hire professionals who not only monitor the positive and negative feedbacks of the customers but also take all the necessary measures to contact the customers and convert their negative comments to positive ones by catering to the problems faces. This helps the organization to stay connected to the customers and make changes as per the need to the customers. Secondly, it is a boon to the research and marketing department as they can easily gauge the interests of the customers online. The organization can easily reach the customers online and sell their products at a lesser price than the market and in turn generate profits as well. Thirdly, reputation management also enables the organization to re incarnate the public relation channels which in turn helps them to connect to the public even better. Not only this it also helps the managers to analyze the major influences on the public and eradicate the negative influences effectively.
Hence, reputation management which has taken the form of online management is one of the most important branches of management in business organization as it not only builds, maintains and re builds the e reputation of the business but also helps the business in marketing, research as well the selling of the products. Each and every organization must cater to reputation management for ensuring success and better connectivity with the customers.