Examining Your Business’s Reputation: Building Trust and Assessing Brand Value

Have you been thinking about selling your business? If so — and even if not — it’s a good idea to do what you can to improve your company’s reputation. It’s hard to put a dollar value on reputation. However, by taking a look at several different factors, you can get a sense of how potential customers see your company.

Business Reviews

How do customers see your company? A quick skim through reviews on Google or other platforms can give you an idea. Many people look at Google reviews first. But if you want to build your reputation quickly, don’t forget other platforms like Yelp, TrustPilot, the Better Business Bureau, and others.

Often, people write business reviews for one of two reasons: they’ve had an outstanding experience or a horrible one. Many customers are happy with your business, but it simply hasn’t occurred to them to write a review. If you need more good reviews, consider incentivizing customers to leave one. For example, you might offer a gift card to customers who write a review.

Your Social Media Pages

You might not think social media is an important factor in your company’s reputation. But if you want to build trust with your customer base, it’s a great place to make some changes.

Lots of businesses post on their Facebook, Twitter, and Instagram accounts but neglect to interact with their audiences. Even replying to comments can go a long way toward building lasting customer relationships. If you can afford it, you might even consider hiring a social media manager to establish (or improve) your social media presence.

Endorsements, Awards, or Certificates Posted on Your Website

If your business has won any awards or received any endorsements, they only help your reputation if your customers know about them. Prominently display any awards or certificates on your website, ideally on your homepage. And if you get a new award, it helps to share the good news on social media platforms as well.

Values, Policies, and Transparency

Customers trust businesses with transparent practices — and often distrust those without them. Make sure you share your company’s values with your customers by posting them both on your website and at any physical locations you have. If you’re an owner-operator, make sure you and your employees embody those values in everyday interactions with customers.

Community Involvement

Customers are more inclined to trust businesses that invest in their local communities. Whether you donate to charitable causes, organize events that enrich your community, or participate in already-organized events, customers will notice. As a result, your company’s reputation will likely get a boost.

Employee Reviews

You know that customer reviews are critically important to a business’s reputation. But have you considered employee reviews? If you want to attract and retain customers, you need high-quality, invested staff.

But in most cases, top-notch staff members are fielding multiple offers for employment. And if they visit Glassdoor or a similar platform and see that your business isn’t a great place to work, they’ll go somewhere else.

Many employees won’t complain directly to their employers, but they will post on Glassdoor. If you periodically check, you’ll have the opportunity to identify and address any issues with your staff.

Considering Selling Your Business?

If you’re thinking about selling your business, Sunbelt Business Brokers is here to help. We specialize in helping owners of small and medium businesses find enthusiastic buyers. Whether you’re ready to sell or just have a few questions, don’t hesitate to reach out today.

Of course, before you make a sale, you need an accurate understanding of your company’s total value. You can get a valuation in minutes using our fast, free business valuation calculator.