The value of a trustworthy brand reputation
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.
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.