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Importance of reputation monitoring

Posted by Michael Bloch in online world (Sunday October 5, 2008 )

Edward Bulwer-Lytton coined the term “the pen is mightier than the sword” in 1839. In the online world of 2008, it can be a weapon of mass destruction when it comes to business.

Take the recent example of Apple whose shares dropped by around 10% after a rumor was published that Steve Jobs had suffered a heart attack. That one post wiped millions off Apple’s value. The company officially denied the report quickly and *most*, not all, of the losses were regained. This was the second time in 3 months when Apple’s stocks plummeted as a result of incorrect information being posted online. The first was when an obituary for Steve Jobs was published somewhat prematurely.

If you were Steve Jobs, you’d be forgiven for getting a little paranoid :).

This is an extreme case, but do you know what others are saying about you or your company online? What do you think would happen to your bottom line if when searching for your company, the first listing was a negative one? I’d practically guarantee you’d be losing sales – and you may not even be able to measure it.

All publicity is certainly not good publicity and unless you’re on the ball, rumors can spread like a virus to the point that ireparable damage is done to your reputation – whether you’re a one man show or a Fortune 500 company.

On the flip side, keeping an eye on what others are saying can provide you with constructive feedback on improving your products or give you a pool of evangealists to contact when you have news about your company.

Pick up some tips and tools for reputation monitoring and management.



 

 
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