Online reputation risk is a peril that costs credibility and damages brand image to businesses, professionals, celebrities, and brands. According to Deloitte Global Risk Report, reputation damage affected nearly 88% of the executives across the globe.
Internet spreads information at lightning speed, and the sad part is that negativity spreads faster. It is an unbiased information carrier, and if online reputation management measures are ignored, it may result to reputation loss, career damage, and irreparable loss to personal reputation as well.
Let’s learn about the vulnerability before gaining insights into online reputation management services and ORM cost.
Most vulnerable groups
Renowned business houses are capable of tackling reputation related threats as their PRs have huge financial budget but even they sometimes fail to handle online reputation threats correctly. The things are worse for startups, professionals, celebrities, and people from different walks of life since they don’t think much of ORM. Your future career prospects are also influenced by online reputation. Infact, Forbes clearly stated in an article that 75% HR departments are supposed to check employee credibility online.
To put simply, everyone is vulnerable to online reputation, and threats are very much real & pricey.
Reputation management cost & pricing
Loss of reputation costs a fortune to businesses, and the price paid to recover from the damage is nothing less. Top reputation management companies charge a huge fee that may vary between $5000 to $30,000 (USD). The cost of forgetting on internet does not come handy, specially for small businesses and working professionals. Thankfully, there are some online reputation managers that render premium online reputation management services at affordable price.
The costing of online reputation management services vary from agency to agency. Top companies charge $8,000 per month on average for online reputation recovery. Below is the screenshot from a leading name of online reputation management industry:
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Reputation expenditure for businesses
Small and mid-sized businesses spend at least $7000 every year on proactive online reputation management. It is hard to calculate the exact number on ORM costs since efforts dedicated on online reputation recovery depends heavily on the nature of threats. If threats are coming from top news and media sites, fighting them off first page of Google requires a bigger investment. If they exist on an ameteur blog, online reputation management cost will be lesser.
If being top on Google’s search engine is a boon, being there with a bad repute may be toxic for the businesses, professionals, entertainers, and entrepreneurs. Only the right online reputation management strategy will be able to speed up recovery and deliver results quickly.
Source of reputation threats
There are various conveyors of reputation loss. Threats may be discussion boards, search engines, media publications, business review platforms, independent blogs, images, and leaked videos. Individuals and organizations fighting bad reputation need modern reputation management strategy and cost effective reputation management solutions.
Thankfully, businesses and brands have started taking measures to improve their online reputation and even working professionals are doing so.
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Bad reputation escape plan
Online reputation require strong business assets, active social profiles, media mentions, and brand representations. Startups, professionals, and small enterprises are not well acquainted with most of these essentials and thus even one unfortunate mention on internet may lead to big online reputation threats.
An individual or a brand should never leave a thread loose on internet, it may sooner or later pose a serious threat to your reputation and cost dearly. Therefore, it works best hire experienced reputation management professionals to fix your reputation problem and get pointers for future as well!
Google’s reputation liability
Google is where the world goes to look for information. The search giant has already stated that it cannot be held accountable for reputation loss since it is only aggregating what already exists on the web. What we need to understand is that it is Google where almost everyone is searching for information, reviews, and even people.
Internet is an agent of change, it is the information reservoir which retains everything. Reputation is hard to earn, but defamation enters through backdoor. Hence, we must take control of what goes out online about us. Of course we can’t control everything but we surely can keep a track and act timely. Remember, the online reputation management recovery cost or price is huge.
Want to protect your personal reputation online? Here’s the best personal online reputation management ideas!
Reputation at Risk
A threat to your name or business may be termed as reputation risk. It may be due to your negligence, the actions of the people linked to you (partners, suppliers, customers, middlemen or even family), or package of both. Competitors with no ethics spread negativity to gain business mileage. Sometimes, mischievous elements start reputation attacks just for the heck of it. The point is that reputation attacks are real and we have to deal with it.
Stephen Hawking once said, “We all are now connected by the Internet, like neurons in a giant brain”. The Internet never forgets. It is an agent of change, and Google especially works like a critic who is always looking for new things to talk about.
Start online reputation recovery
Online Reputation management plays is a critical role in maintaining a company’s identity. It may incur some cost, but will remove the fencing which stands between your business and its growth.
At Upreports Infotech, we aim to recover, track, and strengthen your reputation without drilling a hole in your pocket. Email us at firstname.lastname@example.org to discuss your reputation case and request best ORM package top online reputation management professionals of the world.
Want to recover from bad online reputation on your own? Here is the online reputation management strategy for fastest recovery.