In the digital age, anyone can say anything about anyone – anywhere, and for advisers who rely on a good reputation that can create concerns but as SRS Coaching and Consulting’s Rachel Staggs states there are a number of ways to lessen the negative feedback and to increase the positive.
Customer feedback via review websites is now commonplace, and some advisers are worried about how this new movement might play out in the advice profession.
How do you manage what others are saying about you? What if someone gives you a bad review? What does this mean for the value of your advice?
On a recent family holiday, our prolific use of Trip Advisor made me think about this whole feedback trend. My thoughts were centred on when Trip Advisor might flip around the feedback and allow the businesses to rate the clients, similar to transport company Uber. Just a thought!
I think if I were a hotel owner, I’d be pretty keen to give some feedback to those clients that aren’t clean, tidy and have decent manners! Some reviews I found on Trip Advisor were quite ‘flippant’ and surely have an impact on the business that is being reviewed?
However, instant online feedback is on the increase, and we can’t shy away from it. You appreciate it when someone offline talks about your good work to a friend or colleague, don’t you? Well think of these new review sites as providing the same good feeling, only more people have access to the information so your chances of more clients is far greater.
I do understand, though, that these new review sites provide new challenges for advisers as well as unique opportunities. One of the most important marketing strategies to shine the light on is your reputation management.
Reputation management in the old days was known as Public Relations and while some businesses didn’t see the need, the change has come and all small businesses need to actively manage their reputation to survive.
Actively managing your reputation means reading the reviews on others as well as yourself, listening to the conversations and responding to all types of feedback. For that to happen effectively, you need to have a plan in place.
One of the most effective things you can do right now is to survey your existing clients. Why?
- Pro-actively get feedback from your existing clients and business partners – then take whatever action is required immediately [if need be].
- Gain client endorsements that you can start sharing on all your digital platforms to support your brand reputation – re-enforce your position as the trusted adviser.
- The results will give you and your team a confidence boost – if you haven’t asked for any feedback yet, how do you know what people think about your business?
The next step is to develop a marketing plan that will help boost your reputation and manage any issues that may arise. Here are seven key areas you should address:
- Website presence
- Feedback monitoring
- Content marketing
- Reviews and recommendations
- Client driven culture
- Negative comments
- Mindset
1. Website presence
When a client or business partner enters your business name into a search engine, your company website should be the first listing they see. We’re not talking about search engine optimisation (SEO) because unless you have a defined niche, you could end up spending a fortune. What we’re talking about here is your actual company name or, advisers in your company. Wikipedia pages, Google Plus, LinkedIn and review sites can also make the front page, so make sure that all your information is up to date. Conduct an audit every month to make sure this happens.
Your website, LinkedIn profiles and any social media platforms you use should appear relevant, credible, ooze expertise, have all the right images, videos and up to date information. Bad examples are those adviser websites that have their last blog post dated 2011 or worse – instant negative reputation.
2. Feedback monitoring
Whether you outsource your social media or keep it in-house, you need to be monitoring the responses you get to the information that is posted. Even a small number of mentions—positive or negative—can have implications. Don’t post something and encourage responses/feedback/likes or shares and not respond – it’s a bad look!
Smaller businesses should take advantage of as many free monitoring tools as possible. Larger businesses might consider a paid solution or outsourcing.
3. Content marketing
An important part of brand management these days is to project a positive business image. Social media provides an excellent platform for doing this. Your aim is to profile your expertise and show people whoever they are, that you have all the right qualifications and experience in helping the right people get the right outcomes and a professional reputation.
Writing blogs, sharing content and being part of your profession can help shape your reputation. Someone who is actively involved, delivers relevant information, and demonstrates that they are in touch with the issues of the day displays a far better reputation than someone who doesn’t.
4. Reviews and Recommendations
If your business is fortunate enough to have some client testimonials (client stories), then make sure they are uploaded to your website, posted on LinkedIn and mentioned on Google. Client and business partner endorsements are proven to hold more weight than any negative feedback you may receive.
5. Client driven culture
Your business culture can shape your brand reputation. Not all your team will understand the important role they play in the developing the reputation of your business but it is a team effort. Develop the right culture and the business will behave in the way you want. Everyone needs to be responsible for the reputation at work and out of work. Make sure you have the fundamental foundations in place.
6. Negative comments
Interestingly, Australians don’t like to be seen to post negative feedback. Who wants their name next to a bad experience? However, it does happen. Firstly make sure you have a negative comments response plan in place. If you don’t, you can contact me for one at Rachel@srscc.com.au Ensure everyone knows whose responsibility it is to respond and make sure you respond. A timely response is best practice but I understand that sometimes our emotions get can get caught up so, allow the ‘sting’ to go away and then when you are composed, respond.
7. Mindset
Finally, get the right mindset. No one is out to get you! No one wants your business to fail. Everyone wants to be part of a success story and deal with confident and assured business people. If you start to feel that all of this is getting you down, or you feel you are unable to face it, focus on having the right mindset. Review sites like Trip Advisor have been an enormous success because we all have a point of view that we like to share. It can help drive a positive image of a business but also a profession.
Have you thought about your businesses reputation yet? If you would like further information or assistance, please feel free to contact Rachel Staggs.
In her regular Practice Marketing column, Rachel Staggs provides insights to help advisers market their business to potential (and existing) clients.
Rachel Staggs is the founder and Managing Director of SRS Coaching & Consulting, a specialist financial services consulting firm.
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