MEANING OF BRAND REPUTATION
Brand Reputation moderates the relationship between failure severity and customer satisfaction. Brand reputation can be defined as a measure of how customers react to a brand ( what they think about the brand, how they talk about it and their distinction towards the brand). It is a concept related to trust or distrust in a company formulated on subjective perceptions of the company by a client.
Brand Reputation refers to how the brand of a company is perceived and viewed by customers, stakeholders and the market place as a whole. It is the perfection of emotions and ideas that a customer or stakeholder associated with the brand experienced during the purchase of goods and their services while using the product or service and even after-sales services provided by the company. Your brand reputation is a combination of a customer’s experiences with your organization at every touch point, each memory, impression, social media post contribute to brand reputation. The benefits of good brand reputation includes higher trust, better talent, less risk and more profit.
Brand reputation cannot be bought, it takes a long time to build up a good reputation. A good reputation can serve as a signal of the superior quality and reliability of the products or services and improve the efficiency of marketing efforts. A good brand reputation can lead to numerous strategic benefits to an organization such as creating market entry barriers, customer retention, strengthening competitive advantages. When it comes to purchasing a product or getting a service some clients take into account cost while others focus on quality. However, majority focuses on who they know, trust and those brands that have built a reputation and given them customer satisfaction.
Customer Satisfaction is an attitude shaped on the basis of experience after a client acquires a product or uses a service and pay for them. It means being pleased with a product or a service. Customer Satisfaction is defined as a measurement that determines how pleased customers are with the company’s product, service and capabilities. Customer Satisfaction information including surveys and ratings can help a company determine the best way to improve on it’s products and services in the future.
According to Jeff Bezoz, CEO at Amazon “A brand for a company is like a reputation for a person. You earn good reputation by trying to do hard things well”. Customers are selective about where they spend their money, they reward and retain brands that provide them with the best experience. High satisfaction can attract new clients to your business, while still reducing cost. Highly satisfied customers can be instrumental in spreading the word about the quality of your service or product. It is essential for organizations to build long term and mutually beneficial association with customers.
Customer Satisfaction is an important measure for companies as it provides an insight in customer loyalty and also help identify issues with the product or service. Companies that provide high level customer satisfaction use it to differentiate their brand from others. By increasing the level of customer satisfaction you can reduce customer churn rates at your company. Companies should also remember that acquiring new clients is a lot more expensive than keeping clients you already have. Overlooking customers happiness as the company chases new business ventures is a common mistake that should be avoided. No customer satisfaction = no retention, no retention = shrinking customer base. The future belongs to the experience around your product or service through each stage of sales. Consumers look our for brands that deliver on their promises. Satisfied customers share their experience with friends and colleagues which is a benefit for your reputation management efforts.
A company should be able to have a customer relationship management program. This system helps in resolving the grievances of customers promptly. For example if an individual does not complete a task in a specified time frame, the company can send regular reminders to escalations to senior personnels. Hence this results in greater customer satisfaction and helps improve the brand reputation of the company.
There are several ways to improve Customer Satisfaction they include;
• More feedback; it is difficult to find ways to improve customer satisfaction. There are some ways to improve customer satisfaction. There are some customers who have valuable insights that they have not given to the company. A company should provide a form where they can type a response and ratings. It is normal to ask customers why they gave the score to you. By being upfront about the questions, customers will provide more insightful responses.
• Providing Additional Benefits and Bonus; Customers should be surprised with free goodies, this can go a long way in building concentrate relationships. These little things are effective and can build a positive image of your brand. It increases customer satisfaction immensely.
• Effective Study of Complaints and Compliments; Every compliment or compliant from a customers is important. Compliments show you what to reinforce while complaints point to new ideas and steps to take for improvement.
• SWOT ; This is an abbreviation, S stands for Strength, W stands for Weakness, O stands for Opportunity and T stands for Threat. A company should be able to know it’s strength and weakness and do benchmarking. The marketplace has become more competitive, organizations should be able to rely on the strength of their brand so as to enable them retain a good brand
reputation. Bench marking is the process of comparing your organization in your industry or broader market place. You might compare your most successful competitors customer process and satisfaction with your own.
• Availability to Customers; Everyone is busy and if your company can’t provide the highest level of service your customers won’t hesitate to find another company that can. Customers waiting time should be managed. There should be a customer-friendly process and the customers will surely return over and over and speak good of your brand.
• Try to personalize; In all your dealings make the customers feel like he is she is the only one that matters, use the customer’s name, refer to personal information, congratulate him or her on birthdays, give them compliments, make them feel at home.
• Treat your customers the way you would want to be treated, you have to put yourself in their shoes.
• Stay current on reviews online; The world right now is heavily dependent on the internet, customers are quick to hop online and share how they feel about a product or service. Log into the internet and observe client’s reviews. Find out what people enjoy as well as what they will like you to improve on. The reviews you might stumble on might surprise you and introduce you to areas you might have neglected. Customers won’t consider a business with less than four star ratings and they always read reviews before deciding to trust a business.
For a brand to be able to keep up it’s good brand reputation, the company should never ignore the importance of customer satisfaction. There are many factors that contribute to the success or failure of a business, customer satisfaction is one of them. A company should not have a problem with going extra mile for a customer who is not quite satisfied, the customer can even be offered something special. Nowadays clients easily switch brands and it is often as a result of nonsense satisfaction of services provided by the company. Brand reputation is critical for the success of any company/organization, they should endeavor to use compliance management mechanism to help improve the brand reputation because the market place had become more competitive.
Measuring customer satisfaction should be a daily habit of the organization, happy customers won’t look at competitors offer, they will happily interact with your brand again and even recommend the product or service further thereby increasing sales revenue. According to Kate Zabristie “Although your customers won’t love you if you give bad service ,your competitors will”. Rivals most times are just waiting for your company to make a wrong move. If a company is able to give amazing customer satisfaction, the company will gain arguments to convince those uncertain of it’s services.
Providing great customer service will satisfy both you and your clients. They get proper service, you get proper revenue and good brand reputation and everyone is happy. The importance of customer satisfaction as concerns brand reputation cannot be overemphasized and shouldn’t be under estimated.
Clients (particularly if they use the service for the first time) often do not have competence to access service quality and mostly rely on the brand’s reputation. A good reputation is difficult to build and easy as pie to destroy by bad comments from customers. It can serve to decrease perceived risk and fear of undesired results. Customers satisfaction is not only key to business growth bit it also directly impacts your brand reputation.