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Why is online reputation management important?

Everyone is online these days. Your customers have social media accounts, your competitors have a website, and your prospects are scouring forums for product reviews. There is no escaping the power of the internet and how it’s become the ultimate source of business for a lot of brands.
Studies have shown that 75% of potential customers check reviews first before they make a purchase and four out of five of them choose the competition after reading one bad review. That’s eighty percent of new customers lost due to a possibly mismanaged online reputation.