Reputation, lasting impressions and a trip down memory lane

[Carbon Neutral Copy]

I have just finished writing an article on business reputation and I thought I would share it with all on the forum before uploading it to my website. I hope it is of use/interest to some of you...

Reputation, lasting impressions and a trip down memory lane

In business, reputation matters.

With a good reputation your business will flourish but with a poor reputation, your business will fail.

For start-ups entering a competitive and often crowded business arena, trying to claw market share from well-established companies with favourable reputations can be a daunting prospect. But the good news is, it’s not an insurmountable task.

We all have to start somewhere – even the well-loved brand giants like Apple and Coca Cola started out with no reputation to speak of. With no reputation, you have something to work at.

So how do you go about building a good business reputation?

The first, and most important, thing to remember is that reputation is earned, not bought. This means that you can compete directly with the big players in your chosen market because you don’t need a budget the size of a small country’s GDP to achieve a good reputation!

It can take months, even years, of hard work to develop a good business reputation but quite literally minutes to destroy it (just ask Gerald Ratner). Treat your reputation with the respect it deserves and you will start to see the benefits.

And what is the key to harnessing a good reputation?

To achieve a good business reputation, you need to gain the trust, confidence and respect of everyone that comes into contact with your company – your customers, your staff and your suppliers. The way these people experience your business will affect the way they feel, think and speak about you in the future.

Developing a good reputation is not rocket science, but it does involve a commitment by you as a business owner – and all the staff you employ – to operate your business with honesty and integrity and to provide products and/or services that exceed the expectations of your customers.

Do first impressions last?

For any start-up, attracting customers is key to getting a business off the ground and for many businesses, a lot of time and energy is channelled into creating a good first impression.

But – and there’s always a but - whether you’re just starting out or growing your established small business, if you want to leave a lasting impression on your customers, you need to think beyond first impressions.

Don’t get me wrong, first impressions are important – without them, you’re unlikely to win new business. But first impressions aren’t the only ones that last. To qualify this claim, we need to take a [very] quick journey through the psychology of memory…

A trip down memory lane

In psychology, studies into human memory have shown a limited capacity for information storage, and mental recall is often dependent on where in a series of events the memory occurred.

People are much more likely to remember those things that happened at the beginning and the end of an experience, than they are the parts in the middle. This is known as the ‘primacy-recency effect’.

So when we apply this knowledge of human memory to business, we can see that first impressions are not the be-all and end-all of a good reputation.

You need to think about the entire customer experience - not just the bit that gets people through the door - and you need to ensure that your honesty, integrity and commitment to exceed expectations pervade the customer journey from beginning to end.

If you do this, your existing customers will come back time and time again. And what’s more, they’ll bring new customers with them.

In your business, your reputation matters. Build it, nurture it and be proud of it.

Vicky

[pvcprinting]

Vicky,

What a stunning and inspirational read......As a small business I have at times become somewhat disheartend at the thought of trying to gain a small market share from the big hitters. Companies such as Apple and Coca-Cola seem almost untouchable by us small fry......the content of your document clearly gives direction and purpose in achieving your goals/aims.

Clearly the now big boys and blue chip companies were all once small businesses, these obviously used great skills in the areas of First Impressions, Confidence along with honesty and integrity to flurish into what they are now

I would like to think that our companies values will stand us in good stead to also flourish and grow

Thanks for an inspirational post

Regards

Pete

[RayB]

Vicky you are on a roll here - another first class post - thank you so much for taking the time

[Carbon Neutral Copy]

Thanks for your comments, Pete. Really pleased you found it useful.

Vicky

[Calibre Designs]

Vicky you are on a roll here - another first class post - thank you so much for taking the time

I believe that you have me to thank for that....

Seriously, Vicky - 1st class post...top notch.