The Value of Reputation in Sales
According to Corporate Compliance Insights, a company’s reputation is estimated to account for 20% to 30% of its value. And in B2B businesses, it’s estimated that 90% of companies will only buy from companies they trust. The impact that brand reputation has directly on sales is sometimes difficult to quantify, but there’s no doubt that securing trust with your customers will ultimately lead to more sales, shorter sales cycles, stronger new product introductions and overall value to your company’s bottom line. In addition, companies with strong positive reputations attract better people. They are perceived as providing more value, which often allows them to charge a premium. Their customers are also more loyal and buy broader ranges of products and services.