Your brand’s reputation comprises about 63% of your business value. However, before you invest in reputation management, you must know how much budget you should allocate. It’s also best to know what level of reputation development, repair, and protection you should expect.

The cost of these strategies varies significantly, considering the broadness of each spectrum and the number of variables involved. If you plan to improve or fix your company’s reputation, there are essential considerations to consider. This post will discuss these factors comprehensively.

What is Brand Reputation Management?

This strategy refers to improving a company’s status among its target audience, specifically in online reviews, search engines, and other high-traffic online platforms. Companies handling these tasks range from mom-and-pop shops to large corporations.

Reputation-related issues range from repair and recovery to proactive repair of severe damage. On the other hand, goals range from enhancing Wikipedia to getting five stars on Yelp or Google, fixing negative online sentiments, or increasing sales in a highly competitive industry.

Online reputation management services vary greatly, mainly based on the firm’s quality. Agencies with more experience will charge more for their services than pop-up companies.

What’s The Cost?

The cost of managing the business reputation varies depending on the business size, number of business locations, services used, and agency handling your marketing task. Brands like yours may pay $500 to $1,000 monthly to manage your reputation. Other agencies may even ask you to pay an initial fee aside from a monthly recurring cost.

Take a brief look at our pricing:

Reputation Management: Why Is It Crucial?

If you are running a business, inviting more customers to visit your website and try your products and services will require a fundamental understanding of the needs of your target market. If your current efforts are not helping you achieve your desired numbers, any of these scenarios might be happening:

Negative sentiment among customers

Negative adjectives like “disgusting,” “terrible,” or “bad” in your reviews can paint your brand in a negative light to prospects and stakeholders.

Low online conversion rate

A low conversion rate means you miss out on additional exposure and new customers. Online reputation management services are necessary to help you recover your positive image.

An overall low rating or an overwhelming amount of negative customer feedback

If your prospective customers see waves of negative reviews, they might avoid you, leading to lower revenue for the business. If you consistently get low ratings, your business can be quickly passed on in favor of other brands.

If you encounter any of these scenarios, you’ll surely need help from the pros. Aside from agencies to help you improve or fix your reputation, you can also use digital reputation management tools. These tools should also be included in your budget since they can change how your target market and stakeholders view your business.

Why Should You Include Software Cost in Your Budget?

The best thing this software can do for you is reverse all negative feedback and paint your business positively. You can get your groove back in time using proven and practical strategies.

There are corporate reputation management tools that can help you respond and engage with your customers. Most customers write reviews about a brand to air their sentiments and ensure the concerned business responds to them.

With the help of these tools, you can keep track of reviews and reply to them promptly. Your quick and earnest response will show you care about them as much as your online reputation. They are also assured that the feedback they provide to you will be used to improve your service.

These corporate reputation management tools can help you respond promptly. Research indicates that customers anticipate a company’s response within a 12-hour timeframe, and any delay beyond a week results in being promptly labeled as lacking in responsiveness.

Replying to them within one to two hours or sooner can lead to more favorable outcomes. This action tells your customers that you appreciate their time and patronage. Getting back also means you got the message and are doing everything possible to resolve their issues.

By incorporating well-established software into your digital reputation management strategies, you’ll witness rapid enhancements in your growth, conversion rate, and overall profitability.

Budget Allocation

Insights into other companies’ budget allocations are limited. However, working with different clients over time made us believe that 30% of the cost should be allocated to research, another 30% should be dedicated to your campaign setup, and the remaining 40% should be left for startup phase strategy development.

During your first month, you must allocate 65% of reputation management cost to content planning, curation, and promotion. You should also allot 20% for promotion and 15% for web and schema development. In the succeeding months, you must distribute your budget according to this format:

• 40% for content
• 30% for promotion
• 25% for development
• 5% for strategy

Long-lasting and legitimate results need appropriate and serious investment. If you want high-quality results, you must be ready to increase the budget allocation for reputation development, repair, and management.

Let Clicta Digital Be Your Ally in Mending Your Reputation

We understand the importance of a strong, solid, positive online reputation. Apart from that, we also know how valuable each company’s resource is. Here at Clicta Digital, we work based on your needs and budget. The way we work and our team set us apart from the competition.

To execute a sound reputation management campaign, we will sit down with you to assess the situation. From there, we will curate strategies that target these pain points. We’ll collaborate with you until we ensure your numbers and reputation improve.

Call us today for a free case consultation.