Since ORM (On-line Reputation Management) has become the hot topic of the SEO world, companies are trying hard to put a dollar amount on what their reputation is worth. This is of course no easy task, because for so long a reputation has been considered an intangible. But of course the Internet has changed all of that. One wrong or negative post can devalue a company's stock with-in hours. (Please refer to my post about United Airlines for a very good example of this.)
A few months ago a company by the name of FTI Consulting, a global business advisory firm surveyed a few hundred financial advisors to try and put a value on a company's reputation. 71% of the financial advisors agreed that a company's reputation was worth at least 20% of their overall market value. This is why so many of the fortune 500 companies have made ORM a big part of their Risk Management. A company can no longer afford to ignore bad press. The speed that information is now shared has changed all of that.
On-line surveys now show that about 74% of consumers use search engines to seek out information on the products and services they are considering buying or using. Considering the speed of the Internet a company's reputation is even more critical today than it was before the Internet.
If you are not currently monitoring your ORM then what is holding you back? Can your reputation with-stand a 20% decrease in your yearly income? Is there negative information out there right now that is impacting your income? Did you lose a sale because someone posted untrue information about you? Can you really afford to ignore this any longer?
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