How Does Your Company’s Image Impact Your Business?
Whether you operate a small retail store, an online business, or a large corporation, your company’s image affects every facet of its operation, ultimately affecting its profitability. Your company’s image, which is how current or prospective customers perceive your business, is critical to success. When someone thinks about your brand, for example, do they have a positive or negative perception? So, if your business is struggling to attract new or repeat customers, the following tips can help improve its image.
Your company’s image is its most valuable asset
As a business owner, you want to be in the mindset that your company’s image is its most
valuable asset – because it is. Online reviews, surveys, and speaking with customers are key performance indicators (KPIs) that can help you understand how your customers perceive or value your business and its goods and services. For example, when you notice that your business’s churn rate (the percentage of customers that don’t return or reorder) is increasing, it may be time to reevaluate your company’s image.
Here are four crucial KPIs that will also help measure how your company’s image is impacting your business:
Customer Service: In today’s competitive market, customers have a wide variety of businesses that offer the same or similar products and services. One way to position your company above the competition is to consistently provide the highest quality customer service experience at all touch points – in-store, email, social media, phone calls, etc. A negative review from a poor customer service experience can significantly impact your company’s image, making it more challenging to attract new and repeat customers.
Buying frequency: Buying frequency is another vital KPI because customers tend to purchase and spend more with brands they know and trust. A strong customer retention program will help your business grow a strong base of repeat customers.
Online Engagement: How well your customers interact with your brand online is now a critical factor in measuring your brand image. For example, when satisfied customers post pictures of your products on Instagram, share their product or service experience with their circle of influence, and post favorable reviews, it increases the strength of your brand image. Thus, positively impacting your business’s bottom line.
Sentiment: Do you know how your customers feel about your business? Do they feel comfortable recommending your products or services to family and friends? Customer surveys can be a handy tool for understanding how customers think about your customer service, quality, value, and company image. It can also help you pinpoint areas that need improvement before negatively impacting your business.
Getting Professional Help Building a Strong Brand Image
Your Web Marketing & SEO partner is vital to your business and its brand image, like any other professional, to achieve profitable results from your marketing budget. Your website can be one of your best salespersons, dramatically increasing business leads, store traffic, and revenue when you implement the right digital and content marketing strategies that positively impact your small business in 2022. Frank Motola, President of Brandtastic, has been getting positive results for our clients since 1998. So, give Frank a call at (813) 441-0275, and let’s start improving your company’s brand image today!