Many factors contribute to better sales and profitability when a brand has a positive reputation. More sales are the result of increased trust, customer loyalty, and brand advocacy.
Credibility and trust are essential components of a successful brand reputation. Brands with a solid reputation and a favourable people's opinion are also more likely to receive a second chance.
Increased Trust
Brands that have a positive reputation are more likely to retain customers. Customers that have a favourable image of your company are more likely to make repeat purchases.
Customer Loyalty
Many factors contribute to better sales and profitability when a brand has a positive reputation. Increased trust, consumer loyalty, and brand advocacy all result in increased sales.
Revenue
Both the general public and workers are drawn to appealing brands. Better talent is attracted to and retained by brands with a solid reputation.
Retention
High market value is directly correlated with a positive brand reputation. When your brand is competing with other brands in your niche, it gains an advantage.