Posts Tagged ‘ reputation manaagement ’

Mindshare Mining: Reputation Management “for the rest of us”

From an introduction blurb:

A small company’s online presence — its mindshare among target markets — always matters. Always.

Value judgments about reputation and ability, mental pictures of products-at-work, and final buying decisions depend on how convincing your online presence is — relative to that of your competitors.

Your products, services and, indeed, your entire business may depend on impressions formed in a few seconds — followed by a few simple mouse clicks.

While crucial to your business success, measuring and assessing your competitive mindshare is not magic. It’s just hard work that requires business experience, technological savvy, a keen ability to insightfully connect the proverbial dots, and a commitment of that precious resource of time.

The short of it? Big companies know the critical importance of managing the ‘buzz’ about their brand, their products, their services and their people. More often than not, pricey management consultancies are brought in to help company’s with this effort.

Lot of time. Lot of expense.

Point is, for small companies, this reputation is every bit as critical. In some cases, even more. But – it’s a luxury. Neither the time nor the funds are possible.

MindshareMapping.com is planning on changing this.

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Ever been blindsided by a Yelp “review?”

Here’s something buyers, sellers, and brokers should be considering. In addition to the flow of all the financial statements and all the necessary due diligence that takes place in business sales, something else is happening. While grizzled old timers (many of whom are younger than me) may pound on the table and claim “facts are facts,” increasingly, one’s reputation is a factor in selling and buying.

If you’re a seller, are there Yelp comments on what you offer as a service or a product? Are there angry blog entries by people who’ve had an unfortunate experience with your company? And- what are the online bread-crumbs your senior management are leaving behind? What are *their* skeletons? While you may not be able to scour the web and eliminate all the goop, you can, and should, be aware of what’s out there. If for no other reason than to prepare for the inevitable question of why you’re a regular attendee at a boondoggle conference every year, in Hawai’i, in February, or why your spouse belongs to a country club that’s repeatedly faced charges of discrimination … All this information is out there.

And there’s more. As a potential seller, what odd things will a Google search find about the person who’s possibly going to make an offer to buy your company?

The point is, what was due diligence 10 years ago isn’t the best you can – or should – get nowadays.

In a recent SmallBizTrends.com article, “Avoid that online reputation management nightmare” (by Lisa Barone) -there’s more meat to this idea:

http://smallbiztrends.com/2009/07/reputation-nightmare.html