The value of a trustworthy brand reputation

Monday, July 22, 2019

When a strong brand reputation becomes more important than a low price

In today’s digital era, a company’s reputation is everything.

In 2019, customers not only have greater choice, higher expectations, and more opportunities to share their opinions — they also care more about brand reputation than ever before. Because of this, they’re more likely to trust brands that value transparency and openness.

Online reputation management was once a passive tactic that businesses turned to if something went wrong at their organisation. Today, brands of all industries and sizes need to pay careful attention to the first impression they’re making online.

In fact, 90% of online shoppers rather walk away than purchase from a company with a bad reputation.

How can businesses make their brand reputation into their greatest asset?

To better understand which aspects of a brand’s reputation matter the most to online shoppers, and whether a company is meeting customers’ expectations, we surveyed 1,700 consumers across the globe.

In general, our research revealed that when it comes to deciding whether to purchase from a brand, consumers are mainly influenced by whatever information they find online.

They’re also more likely to trust brands that have an active online presence, take a transparent approach to feedback, and aren’t afraid to share their brand’s mission and be vocal about what they believe in.

Here’s a selection of insights we found:

  • 90% of online shoppers have chosen not to purchase from a company because of its bad reputation.
  • Online reputation is the number 1 way to improve trust with customers.
  • 93% of surveyed people said they read reviews before buying online from an unfamiliar company.
  • 62% of online shoppers perform a search for the company when unfamiliar with it.
  • 48% of online shoppers had recommended a brand to others because of its stance on social issues.
  • 83% of Gen Z-ers, the youngest up-and-coming generation of consumers, said they’d recommended others stop purchasing from a brand with a bad reputation.

Sounds interesting?

Download the full report for six actionable ways businesses can start improving their brand reputation today, and to learn why transparency and openness are the key to success in online reputation management.

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In business, they say your reputation is everything. This couldn’t be more true in today’s digital age, where just one brand blunder can alienate customers, break trust, and stop consumers from buying from your brand.

Our research shows that 90% of online shoppers have chosen not to purchase from a company because of its bad reputation. Customers pay attention to brand reputation, and most decide to take (or not take) action based on what they hear about a company.

Reputation management may have once been a passive tactic that brands used only if something went wrong at their organisation. But today, brands of all sizes must have a proactive reputation management plan that prioritises ongoing communication and transparency if they want to get customers to trust and buy from them.

To see which parts of a brand’s reputation matter most to customers, we surveyed nearly 1,700 online shoppers from major markets around the world, and found that:

  • Online reputation is the No. 1 way to improve trust with customers. Over 93% said they read reviews before buying online from an unfamiliar company.
  • Nearly 62% of online shoppers perform a search for the company when unfamiliar with it and few are likely to buy if they see negative reviews on the first page of the search results.
  • Nearly 48% of online shoppers had recommended a brand to others because of its stance on social issues.
  • Almost 83% of Gen Zers, the up-and-coming generation of consumers, said they’d recommended others stop purchasing from a brand with a bad reputation.

If your brand wants to connect with new consumers, keep existing customers, and build lasting brand affinity, loyalty, and trust, building a strong brand reputation is key. To help you identify how to do that, here are the top brand reputation and trust trends you need to know.