A good reputation matters in every industry. But in financial services, you’re almost nothing without it.
You won’t find many people willing to roll the dice on a suspect broker, investment bank, or compliance firm. Most put plenty of time and energy into finding a firm that meets their needs – they’re not going to waste that effort on a firm flying red flags.
That’s why reputation management is so important.
Reputation management is the process of influencing how people view your financial services firm. There are several strategies you can employ, including reading and responding to online reviews, monitoring your social media channels and creating positive public relations.
Before we dive into tactics for reputation management, let’s talk a bit about why it matters.
How Important Is Reputation Management?
Imagine you want to try somewhere new for lunch. If you’re like most people, you’ll pull out your phone, Google “new restaurants near me” and skim through some reviews before settling on a spot.
But you probably won’t spend much time. That’s because it’s a low-stakes game. The likeliest bad-case scenarios are you end up with a dry burger or soggy fries.
However, now imagine you’re looking to set up a trust, invest a significant amount of money or purchase a home. Suddenly, you’re not skimming reviews — you’re going through them with a fine-tooth comb.
Because in financial services, rarely are the stakes low.
Important in all this is that -potential clients will form an opinion of your firm before you even know they exist. So, if you want a shot at their business, you need to make sure that opinion is a positive one.
Reputation management helps you ensure that you’re showing people exactly what you want them to see from the get-go.
Strategies for Reputation Management
Reputation management might sound complicated, but it’s not as difficult as it seems. Here are some of our best strategies to cast your financial services firm in the best possible light.
Read (And Respond!) to Reviews
A business can live and die by their reviews, so it’s important that you’re always on top of customer feedback. While you don’t have to respond to every single positive review, you should address negative ones where you can, within the confine of marketing rules and regulations.
People can forgive a bad review, but they’ll be a lot more likely to if they see your firm has gone above and beyond to rectify the situation.
Monitor Your Mentions
Just because someone doesn’t leave a review doesn’t mean they’re not talking about your firm online. And you probably want to know what they’re saying.
Set up Google Alerts for your firm’s name, regularly check your mentions and hashtags on social media, or invest in a reputation management tool to get a deeper insight into your public perception.
Accentuate the Positive
Have you won an award, been featured in the media, or otherwise done something worth writing home about? Spread that news far and wide! The more positive news people can find about your firm, the better.
As long as it’s legit, there’s no such thing as too much good press.
Stay On Top of SEO
The higher you are in the search results, the easier it is for would-be clients to find you. Thus, a stellar SEO strategy is an absolute must.
Creating relevant, high-quality content helps you rank better, provides value to your audience, and lends credibility to your brand.
Be On the Lookout
We hate to break it to you, but not everyone on the internet plays nice. Online reputation attacks can come out of nowhere and wreak undeserved havoc on your firm.
Quickly (and publicly) address spam reviews, negative SEO attacks or inauthentic content regarding your business. A good crisis management strategy goes a long way!
Protect Your Rep!
In the public eye, you’re only as good as your reputation. Actively monitoring and managing it helps your firm stand out from the competition.
Whether you’re trying to recover from a tarnished reputation or just want some help protecting your pristine image, Mischa Communications is up for it. Let’s get started.