- Date: 5 October, 2021
What is your reputation score?
Your business reputation has always been important. The offline world of credit checks, and the online world of reputation checks have never been connected, until now. These days companies like Experion use factors related to your reputation, including bad reviews, to affect your credit rating. It has therefore never been more important to get your house in order and tackle the problem head on. Here we will briefly cover what a reputation score is and what the future holds for it.
Credit agencies want to understand your businesses reputation and performance online. They then compare it to your competitors to assess whether to give you credit or not. For individuals, their social media presence, financial records and court records. If negative news articles appear online for your name, this may also get factored into the numerical value of your score.
Where will it all lead? Some believe that in the future both businesses and customers will have a reputation score. This will be based on how customers have rated businesses in the past, and if they had any payment issues. Companies may not want to deal with clients that have a negative score. Companies may also not hire a person with a low score.
Not just businesses, but the products themselves will also have their own reputations. One appliance on a certain website may have a 5* rating, but if it has a 3* rating elsewhere, the overall score can be generated as an average of all the ratings from different retailers online. This will provide a more accurate idea than ever about what people really think of a product.
If you are looking to improve or understand your reputation score, contact our team today. We can help you take control of your reputation and improve it, rather than become a victim of it. We can turn your reputation into an asset that will benefit you financially in the long term.