Online Reputation Management (ORM) is a multi-faceted concept which is aimed at building a positive online public opinion of an organization, brand, or individual. This form of reputation management essentially includes addressing any customer feedback or adverse content that can damage the brand, developing and maintaining positive online content, and using proactive strategies to address potential issues that may damage an entity’s reputation. The concept of ORM has gained widespread attention due to its ability to improve brand reputation by creating positive online opinions, as well as increasing sales and revenue. ORM has been implemented in various industries, including banking and lending, real estate, education, communications, e-commerce, and insurance.
One major advantage of ORM is that it addresses a broad range of potential problems, which allows companies to effectively address a range of potential outcomes, in a relatively cost-effective manner. For example, banks that want to strengthen their brand name with positive online reputation management practices may choose to create and manage a number of blogs, podcasts, or news sites featuring positive stories about their brand. Similarly, lending institutions can optimize their brand strength by creating websites and blogs that are focused on their core business. Likewise, communications and insurance companies can strengthen their brands through ORM practices such as creating multiple online “stations,” distributing promotional materials via social media, and hosting events to engage consumers. Real estate firms can also achieve a lot through ORM when they hire a reliable provider to monitor and respond to negative comments and complaints posted online regarding the quality of their properties. In fact, SMEs can realize significant cost savings through effective management of online reputations.
In contrast, one important disadvantage of ORM can be the high cost of implementing it. ORM relies heavily on the utilization of paid media and online reputation management companies like MyReputationRepair, which requires significant investments in time and resources. In addition, many companies that rely on traditional PR cannot afford to overlook areas such as blogging, podcasting, and social media marketing because these efforts do not bring significant benefits at the moment. In addition, many bloggers and podcasters tend to be highly critical of large corporations, which poses a serious threat to the company’s reputation in the long run. Finally, some social media sites such as Twitter are increasingly susceptible to manipulation. In this regard, it is imperative for organizations to implement effective strategies that protect their brand and minimize their risk in online reputation management.Denis Mackenzie at CRN