In today’s digital world, what consumers think, say and share about your company matters. There are few, if any, expectations for any industry.
Warren Buffet famously said, “It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.”
If you’ve put work into managing your online reputation, chances are you know just how true that quote is. Building a stellar business listing online takes time, dedication, and a strategy to put your best foot forward for customer acquisition.
But how do you know if all your work is having the desired impact? What KPIs should you be measuring for your reputation management program?
Understanding the right way to choose and measure KPIs is critical to determining your campaign’s return on investment (ROI). Ignoring vanity metrics will help you build a strong online brand. Focus on metrics that help you attract new customers and retain the ones you currently have.
Below are some of the most important reputation management KPIs to measure the success of your program.
Volume and Quality of Online Reviews
Increasing the number of customer reviews and raising the average rating are cornerstones of an effective reputation management campaign.
Reviews are social proof that potential customers use to determine if your business will meet their needs. Most customers are looking for a high volume of reviews on the top review platforms for your industry. A large quantity of reviews makes your business look credible, experienced and like a vital part of the local community.
With the right review management software, you can easily manage your listings on the most popular platforms. Use this tool to be everywhere your customers are looking. Staying up to date on these sites can boost your overall search engine optimization (SEO) rankings. As a result, this allows you to be more easily found in relevant Google searches.
If you are seeing an improvement in the number and quality of your online reviews, you are on the right track.
Here are some other key performance metrics to measure your online presence:
- Overall customer sentiment
- Referrals or leads from review sites
- Website traffic from organic search and social media platforms
Online reviews can greatly help attract new customers. They’re also a positive indicator that you will retain the business of current customers. Take special care to respond to both positive and negative reviews. Not only does it encourages customer interaction, but it also offers insight into improving the customer experience.
Additionally, review manager software can pick out reviews that best match your marketing metrics and SEO keywords. Once collected, it makes them readily available to display across multiple platforms. Publishing verified, rich patient survey comments to your physician directory webpages can help increase SEO and attract consumers seeking a physician.
Turning Fans into Advocates
One of the goals of any reputation management program should be building a lifelong relationship with your customer.
Growing a business isn’t just about acquiring new customers. It’s about taking the customers you have now and making them advocates for your brand.
If you are focusing on the customer experience and meeting their expectations, you likely already have strong support from your community. Patients are increasingly embracing their role as consumers and seek out reviews before choosing a provider. This new customer role makes it increasingly important for organizations to engage with customers online.
If you are struggling to satisfy your current customer base, you need to be measuring loyalty and advocacy. Make sure you are measuring the current impact of your brand advocates. Then, identify highly satisfied customers, who are perfect candidates for sharing information about your business on social media platforms.
Your KPIs for turning your customers into advocates include:
- Volume of customer testimonials shared on social media profiles
- Customer engagement metrics on your website and social media channels
- Number of brand advocates (social listening metrics)
- Positive comments on public, third-party directories
Don’t Forget to Monitor Offline KPIs
There are plenty of offline KPIs to track in order to measure your reputation management program’s ROI. For example, reducing customer churn or increasing patient retention is far more important to your business than social media review counts.
As a customer experience manager or marketer, you need to ensure your efforts have a downstream impact. By the same token, it’s critical to avoid measuring vanity metrics.
Reputation management solutions powered by natural language processing (NLP) automatically gather insights. NLP technology identifies actionable insights from unstructured text data in online reviews and surveys. As a result, the software provides insights at a speed much great than would be possible via manual processes.
When evaluating the impact of a reputation management campaign, be sure to look at these offline metrics:
- Customer lifetime value (CLV)
- Customer satisfaction surveys (both quality and number of responses)
- Word-of-mouth customer referrals
- Estimated market share
- Net promoter score
Seeing improvements in these offline KPIs will lead to the business growth you need from a reputation management program. Your review manager software can help you boost these KPIs. Additionally, the software can uncover areas of improvement, help you make operational changes and improve the customer experience.
Get the Most Out of Your Reputation Management Campaign
Nothing is more important than delivering as much bottom-line value as possible to your customers and to your business.
Using these KPIs will help you identify areas where you can improve the customer experience and simultaneously attract new business leads. As a result, meaningful reputation management campaign KPIs ensure your investment is worth the invested time and money.
Take advantage of the opportunity to listen, analyze and act on the plethora of feedback available with reputation management software. Binary Fountain’s reputation management software is designed to give your business actionable insights. Our clients use them to improve their business operations and better meet their customers’ expectations.
With our proprietary natural language processing (NLP) technology and data analysis, you can create customized online reputation management solutions. Tools such as digital surveys can provide a pathway to rapid feedback collection through quick analysis of trends and comments.
Want to learn more about how Binary Fountain can improve your online reputation?
- [Blog] Reputation Monitoring: How to Spot and Remove Fake Reviews
- [Webinar] The Key Metrics of Online Reputation Management
- [Blog] The True ROI of Reputation Management
- [Ebook] Building a Healthier Online Reputation
- [Blog] Checklist for Managing Your Online Reputation During the COVID-19 Crisis
About the Author
Content Marketing Specialist