We live in an increasingly connected world and it’s easier than ever to research the products, services and platforms we use. Most people certainly wouldn’t buy a car, a new TV or even a laptop without shopping around for the best price and looking into the alternatives that are available.
This is particularly the case for tech products and services, but it also applies in all sorts of other circumstances. You might choose a place to eat based on its online reviews, or pick a trader for building work around the house through a personal recommendation. This is one reason why a good reputation matters – whatever kind of business you’re talking about.
Why a good reputation matters
Corporations spend huge amounts of money every year on managing their reputations. They know that for most businesses, continued success is not based on a single product or service. According to the Harvard Business Review, between 70% and 80% of a company’s market value is based on intangible assets such as goodwill, brand recognition and intellectual capital. A good reputation is difficult to build, but it can be very easy to lose – which is why a large part of most organizations’ efforts in the area of reputation management is focused on protection.
Reputation can be particularly important in areas that have traditionally seen low levels of trust. There are disreputable players in every area of industry and entertainment, and people need to know that they’re getting what they have paid for, or the levels of service they are promised. If you’re looking for a casino bonus finder, for example, you don’t only need to know that the tool you are using will carry out a comprehensive search and comparison to find you the highest bonuses and the best free spins, but you also need to know that the casinos and sites it recommends are legitimate and trustworthy.
Reviews and personal recommendations
One of the ways that consumers establish trust in the digital age is to go by the experience of others. These are easily accessible via review sites and opinions sought on online forums or directly from friends and family – either in person or through their social media contacts. Gaming sites and apps often rely on personal recommendations and need to provide a great service to get people coming back.
Gaming industry regulations
Another factor that can help foster trust in gaming sites and apps in the UK is the regulatory framework that online casinos must work within. In the UK, the Gambling Commission licenses, regulates and provides guidance to individuals and businesses providing gambling – from bookies to gambling software providers and even the National Lottery. Regulations do not get rid of every problem, but online gambling is not the lawless Wild West that some make it out to be, and if you choose sites and apps with a good reputation, then you are likely to get a good service.