What Happens when companies only talk and don’t listen?

Bindu Rathore

CEO

Online conversations are taking place all the time:about politics, about Katrina kaif, about swine flu , about airtel ,about a petdog, about just about anything.

Peopleeverywhere are engaging in and creating blogs, videos, mashups and more. It’scalled consumer generated media (CGM), and it’s big news for any company orpersonality today.

A company’sreputation can make a difference to its bottom line.

The use of social media has equipped consumers witha voice and a platform, and the ability to amplify their views. The connectednature of the Internet makes these views easy to share, and the accessibilityof social media tools makes it easy for other consumers to respond. Whetherpositive, negative or just slightly off-centre, consumers are making theirviews known Added to this, is the rising prevalence of CGM in search results.

Entries thatcompanies have no control over are ranking highly in brand search results. AGoogle search on “brand name + complaints” will display a whole lot more CGM.

Companies, and individuals, need to listen to whatis being said about them, and learn how to respond to and engage with theirconsumers in this world of shifting power.

Online reputation management uses the tools of theInternet to monitor and analyse a brand’s reputation and to engage inconversation so as to influence its reputation. On the Web, reputation matters.Many communities have their own reputation management for members, such aseBay, Digg and Reddit. This is based on the feedback given by other communitymembers, and affects the success of that member’s ability to transact withinthe community.

Generally, participation, engagement and response areall used to rate a member’s reputation. When shifting to the greater communityof the Internet, participation, engagement and response remain key factors indetermining a company’s reputation.

Thus Conversations are taking place all the time onthe Internet, and it is crucial for companies to be aware of what is being saidabout them. Customers are now dictating the channels of communication, andcompanies that cannot engage with their consumers in this way stand to losethem.