Integrity is a rare commodity these days.
According to an article published on Fortune’s online magazine earlier this year, consumers are completely distrusting of business executives. In fact, the article is titled “Business Leaders Get an ‘F’ in Ethics, Yet Again,” based on findings in a late 2015 Gallup poll.
The answer to the above question is multi-faceted, but all facets fall under the umbrella of reputation management. Today, your reputation – good or bad – as a business person is liable to be spread at an alarming rate. Neighborhood Facebook forums promote business reviews, Twitter timelines are chocked-full of users who Tweet at businesses to voice both their complaints and praise, and Yelp was born to generate reviews.
In sum, if you are not perceived as a business person with integrity, it is far easier for the local clientele to spread the word than it was 20 years ago. The “old game of telephone” has morphed into “did you read that post on Facebook?”
While there is truth to the notion that consumers move quicker to speak about a bad experience, the good news is that a positive review can spread just as quickly. The news of your rare integrity in today’s working world is news that will garner a response from the public. If you are perceived as a business person with integrity, you will build an excellent reputation, which in turn will generate the following:
Referrals
With a stellar reputation comes face-to-face conversation about your high standards. An old-fashioned referral can do a world of good for your business. Be sure to acknowledge the referrer with a note or even a small thank-you token.
Advertising
If you have a strong record based in facts, go right ahead and make certain that any and all potential clients are made aware. You do not need false advertising because you have a built-in advertising in your reputation. Center your ads on testimonials and stats.
Customer Trust and Retention
Keeping customers is perhaps more difficult than finding new customers. Show your customers time and time again that you are honest and trustworthy in your practices – but not by using your words. Your actions will speak greater volumes than your words ever could.
Even if faced with a situation in which you could stand to make more money by choosing to utilize an unfair or unethical business practice, hold true to your standards. Without your reputation as a business person with integrity, it is possible there will no longer be a business for you to operate. Not to mention…you will sleep better at night.