Reputation of MLM Company: How to Create and Maintain a Positive Image

A positive image can help a company increase sales, scale its partner structure, and overall achieve its goals. In this article, we will explain what reputation is, what role it plays in promotion, and how to improve the business's perception by the public.

What is a company's reputation

A company's reputation is the public opinion about the enterprise's work, services, and product. The project's image is dynamic, depending on consumers' subjective perception, often shaped by rumors, news, word of mouth, etc.

Reputation can be positive, negative, neutral, or unformed (common in young projects). In any case, companies need to analyze market events and, based on this, manage their image using various marketing tools.

Why Company Reputation Matters

The reputation of a business directly and indirectly helps it grow, attract new customers, and increase profits.By developing a positive image, you:

- Strengthen customer loyalty.If a customer has a positive interaction with the brand and feels positively about it, they are likely to become a repeat customer, actively support it, and may eventually become a partner;

- Automate recruiting.Distributors take pride in working for a company with an outstanding image, share its "coolness" with others, and thereby attract new people to the project from among their acquaintances;

- Reduce marketing costs.By investing in the brand's reputation, you reduce potential costs for promoting and presenting new offers, services, products in the assortment, etc. - people already know about the company, watch over it, talk about it, recommend it, and buy its product;

- Increase resilience to crises.The better the image, the more confidently the company will feel in the market and the more stable it will weather economic and political crises.

Statistics and research data also confirm that reputation significantly influences business life. For example:

➢ Reputation brings at least half of the market value to a company, and negative online comments often affect stock prices;

➢ 78% of people trust recommendations from friends and family, while only 14% trust company advertising;

➢ one negative review can lead to losing up to 22% of potential customers, three reviews increase this number to 59.2%, and four or more can derail up to 70% of potential deals;

➢ consumers are willing to pay a higher price for a product if the company has a good reputation;

➢ 4 out of 5 people refuse to make a purchase after finding negative information about a brand online.

TOP 9 directions for working with a company's reputation

The reputation of a business is influenced by many nuances. Some of your actions will be more effective, others less so. It depends on the characteristics of the company and the efforts made. Here are some factors that influence a company's reputation:

1. Improve customer service

By providing positive experiences during purchases, a person is more likely to return to you. They may also recommend your product to friends, thereby expanding the company's customer base.

2. Work on product quality

Product is the foundation of a business. According to our observations, enterprises with a useless or low-quality product have little chance of long-term success. Therefore, if you want to create a business for the long run, you need to develop a unique, secure, user-friendly, high-quality product that will provide value to customers.

3. Invest in Marketing

Marketing is the most obvious tool for strengthening a brand's reputation. Therefore, especially in the case of startups with an unformed reputation in the market, it is not advisable to skimp on the marketing budget.

As part of the marketing strategy, you can engage in managing reviews, generating online reviews, launching advertising campaigns aimed at increasing brand awareness, adjusting search results, etc.

4. Work with opinion leaders

Influencer marketing has become one of the effective and conversion ways to promote a business. By choosing a blogger whose audience is potentially interested in your product, offer to become an ambassador for your brand and order advertising \ review shooting \ recommendation.

We wrote an article about why network projects benefit from promoting through bloggers in the Influencer marketing in direct sales

5. Develop the personal brand of founders and TOP leaders

Personal image is a kind of asset on which the promotion of the business depends. By developing a personal brand, you will create a strong association between the individual and the company, strengthen trust from consumers, current and potential partners, investors, etc.

We have written an article on how to develop a personal brand in the post Building an MLM structure around your own name

6. Build relationships with partners

Satisfaction and partners' opinion about the company greatly influence their well-being, motivation, and work productivity. Therefore, already at the stage of creating a business, it is important to develop corporate values and ensure an atmosphere of care for their people. To increase the happiness level of their employees, network companies:

• create programs to support mental and physical health;

• provide social and medical insurance;

• provide the opportunity to improve qualifications and learn from top experts;

• guarantee financial assistance to partners and employees in emergency situations.

7. Corporate Social Responsibility

Caring for society and the environment has become one of the key indicators of an organization's progressiveness and its owners' commitment to European values. After analyzing the activities of some MLM companies that incorporate corporate social responsibility programs into their processes, we have identified the following ideas:

• develop environmentally friendly packaging for products or encourage recycling;

• engage with social projects and communities, providing them with informational and financial support;

• sponsor a hospital, shelter, nursing home, etc.;

• make inclusivity and tolerance one of the company's values;

• develop an internal volunteer program and encourage partners to participate in it.

We have written an article about what corporate responsibility is and the benefits it brings to companies in The Role of Social Responsibility in Network Marketing Promotion

8. Public Financial Indicators

People often perceive a project's financial indicators as a reflection of its stability and efficiency. The financial success of a project can significantly influence potential partners' views on the company and affect their decision to collaborate.

9. Company Data Security

Just as you protect your personal material assets (e.g., install a car alarm or set up two-factor authentication at the bank), it is important to ensure the information security of your business. The security of customer information and their confidentiality significantly impact audience loyalty, the company's reputation, and can become a competitive advantage for the project.

About the types of threats, the importance of protecting information, and how to do it, we wrote in the article Network Company Data Security

Building reputation is a significant factor that directly impacts the development and viability of a company as a whole. If you want to stimulate the growth of your business and enhance its reputation, seek help from FlawlessMLM. Drawing on years of experience and a large number of implemented network projects in various niches, we will take your company to a new level. Contact our manager in the website chat and get a free consultation on solutions for your business.