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How Bundle is Reinventing Local Business Reviews

Customer online reviews are a flawed device and the rapid proliferation of review sites has long worried local businesses over the potential for abuse and inaccuracy.  But a new service called Bundle aims to reinvent the online review.  By tracking actual consumer spending patterns – what people buy, where they buy it and how often they return, for example – Bundle’s sophisticated computer programs eliminate subjective opinions and get to what people actually do, not say, and then turn that information into more objective measures of popularity and customer satisfaction.

According to Founder & CEO Jaidev Shergill, Bundle was born from the idea that people need real insights and ratings on the places they go, not just subjective opinions. Bundle uses data from the U.S. government, along with aggregated spending transactions from Citibank (all personal information is removed or “anonymized”) and other third party data sources to come up with personalized recommendations on restaurants, bars, bakeries, clothing stores, coffee shops, florists, shoe stores and other local businesses.  With that information, customers can find out what type of people go to a place, how often they actually go back, and can get recommendations on where to go based on places they already like.

In short, Bundle crunches the data from real spending to give consumers the lowdown without the bias.  Since Bundle is backed by Microsoft, Citibank and the investment information firm Morningstar, and representatives of those investor firms sit on the Bundle board, it’s a good bet that Bundle will have the support it needs to scale the model.  So far, Bundle is providing comprehensive coverage of local businesses in about 18 major cities, but expansion plans are underway.  

Keep an eye on Bundle.

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8 Ways to Build your Baseline Business Reputation

Reputation management is one of today’s hottest small business topics. It’s the process of monitoring, managing and influencing what’s being said about your business online (especially in social media) in places like Facebook, Yelp, Twitter and blogs.

But your online reputation is an extension of your reputation in the real world – what I call your “Baseline Business Reputation” or BBR.  It takes place across all touch points you have with customers and prospects.

For many business owners, reputation has literally meant everything.  It’s one area small firms have always felt they can beat out even the biggest competitors.

But it’s a mistake to believe that social media offers a shortcut to reputation riches. Sure, reputations can soar – or sink – rapidly online. But for most small and local firms, reputation is something earned over time.  

Key elements of reputation-building that business owners most frequently cite include the human qualities of integrity, honesty, reliability and exceeding expectations. In addition, building trust and a good reputation requires that the business delivers good quality products and services, along with good value.

Here are eight ways to build your baseline business reputation:

  1. Build bottom-up credibility. Start by delivering what you promise. And the best way to do that is to first under-promise, and then over-deliver. A sure-fire reputation buster is to make claims or promises that aren’t met – in your advertising, in person, by your employees or in the hours you post but don’t keep.  This means vastly more than posting a plaque on your window, wall or website touting membership in the local chamber of commerce, Better Business Bureau or your professional association.
  2. Deliver some R&R – as in Responsiveness and Reliability. To develop a good reputation for responsiveness, be a stickler for communication and resolve complaints quickly. If there’s a mistake or delay, own up to it and make extra effort to fix the problem quickly. An apology helps too. A complaining customer can become your biggest supporter if the complaint is resolved quickly and effectively.  At the same time your baseline reputation benefits.   
  3. Offer exceptional value. Customers and clients define value differently, so this can involve many different things. You might, for example, offer free service or product support for a period of time, or offer discounts and special perks to loyal customers.  Providing something unexpected, such as a giveaway or free sample, is a good value- and reputation-building tactic. And paying attention to details – making sure a product is spotless on delivery, for example – scores big value and reputation points.
  4. Be privacy sensitive. In addition to guarding sensitive information (credit card slips, for example) and honoring permission-based mailing and email lists, this also means providing a discrete area to discuss financial or other sensitive matters, such as medical issues at a drug store.  
  5. Demonstrate tech proficiency. A business that uses antiquated technology will have a reputation as being, well, antiquated. These days, being tech and internet savvy is critical to being perceived as competent and capable as a business. Keep your computers, mobile devices, printers, email and voicemail systems, software, websites and social media pages up to date. 
  6. Communicate selectively and effectively. Keep letters, emails and voicemails short, to the point, professional and productive. Use correct spelling and always leave contact information, even if you think the recipient has it. Make sure your company information – full name, address, phone, fax, website URL, toll free number, hours and other vital information – is displayed in prominent locations.
  7. Make your website polished and professional.  A clean, up-to-date, professional looking website is absolutely vital today, regardless of the type or size business you have. It doesn’t need to be big or fancy, but it does need to be accurate and up to date.
  8. Do community service. A little selfless generosity toward local organizations or your community goes a long way toward helping building trust and a positive reputation. 

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