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– A new report found that 48% of UK businesses had an impact on their company’s reputation and sales over the past year due to negative content about their brand on the internet
– 39% of businesses are affected by fake online reviews and 71% believe that negative social media is the most harmful content to their business’s reputation

A new report released today (May 26) by Igniyte, the UK’s leading online reputation management consultancy, highlighted the harmful effects fake customer reviews and negative social media posts had on UK businesses over the past year.

The report, which surveyed 500 UK business owners and managers making strategic or marketing decisions, reveals the harmful effects of negative online content on the reputation of UK business, particularly fake online reviews and critical comments on social media. The report also analyzes the way companies are currently dealing with negative online content about their brand.

The new study found that 48% of UK businesses had an impact on their company’s reputation and sales over the past year due to negative content about their brand on the internet.

39% of companies say they have been directly affected by fake reviews on platforms such as Google, Trustpilot, Trip Advisor and Reviews.co.uk in the past year.

A staggering 68% of businesses are now concerned about fake reviews, and 84% of managers say online reviews are critical to their company’s financial and reputational status.

Fake or negative reviews online are now seen as the number one threat to UK business reputation in 2021. However, the data shows that 47% of businesses do not actively edit or respond to their online reviews.

In addition, 71% of companies say that critical posts and malicious comments on social media are the most harmful form of online content for their business – on platforms such as Instagram, Facebook, Twitter, Tiktok, Pinterest, YouTube and Reddit.

The new study asked which companies pose the greatest threat to their company’s reputation and aims to help companies improve their negative reputations.

Hence, the biggest threats to a company’s reputation in 2021 are:

1. Negative reviews
2. Online crises (including social media crises)
3. Offline crises (e.g. operational or product errors)
4. Undercutting other companies
5. Incidents involving employees or board members
6. Lack of company social media activity

In 2021, negative online content about brands such as social media or negative press coverage poses a greater threat to the company’s reputation than operational issues such as pricing, product defects, or employee behavior.

However, 25% of companies do not currently monitor their company’s online reputation using appropriate monitoring tools. In fact, 28% of UK managers surveyed did not believe their businesses were being affected by negative online content.

Simon Wadsworth, Managing Director of Igniyte, said of the results: “We understand the importance of online reputations for brands and companies, and as specialists we closely monitor changes. We’ve been tracking the root causes of reputational risk for over a decade and it’s interesting to see negative, or worse, fake reviews give cause for concern, but we know that many options are possible.

Our Reputation Report 2021 shows very clearly that threats affect UK brands and businesses both offline and online – often with huge financial implications. Dealing with these issues often requires specialist help, from effective monitoring and auditing to ongoing work to create and maintain a robust brand image – for individuals and businesses. ”

Miles Bentley, director of marketing at Yoono, a brand new startup offering reputation reporting, adds, “Your online reputation can be what makes or breaks it, whether it’s an individual, a company or a brand. In today’s digital world, people can find out a lot about you with a few searches, and we know how harmful that can be.

Critical customer ratings, negative social media comments, and bad press are a much bigger problem for businesses than you might think. Many people use this information as a reason not to do business with them. Taking control of your reputation is very important. One of the first steps is to know what is being said about you and what your priorities are. ”

To read the full Reputation Report 2021, please click here.

ENDS

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About Igniyte

Igniyte is the UK’s leading online reputation management agency, helping companies, brands and individuals build a strong online presence through SEO, PR, content, social media and proven online reputation management tools and techniques.
Based in the UK, Leeds and London, Igniyte has a global reach with clients in the UK, Europe, the US, Africa, the United Arab Emirates and Hong Kong

www.igniyte.co.uk