Reputation management is a core component of brand development. Too many business builders focus on elements like social media marketing or content outreach, without investing in reputation monitoring and management for their brand. Without ongoing tracking of your brand’s reputation, your company could be falling out of favor with customers without your even knowing it. If you need further convincing of the importance of brand reputation, check out what some of the top global business minds have to say about the significance of reputation and the consequences of not monitoring your reputation.

“It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.” ~ Warren Buffett

If you think business longevity protects you from reputation disasters, you couldn’t be more wrong. Even if your company has built a solid reputation, you could end up needing reputation disaster recovery assistance should your social media manager make a critical mistake or someone on your team is caught on video making disparaging remarks. It is imperative each member of your team understands the role they play in keeping your brand’s reputation unsullied and that you have a recovery plan in place should you find your company’s reputation at risk.

“A brand for a company is like a reputation for a person. You earn reputation by trying to do hard things well.” ~ Jeff Bezos

Today’s business builders would be well advised to take Jeff Bezos’ words to heart. You can’t build a company that survives over the long haul if you have taken shortcuts to growth. It is only by focusing on the needs of your customers and doing what it takes to deliver a product/service your customers can depend on, that your business will continue to flourish over time.

“All you have in business is your reputation – so it’s very important that you keep your word.” ~ Richard Branson

Companies that fail to live up to their advertising or brand statements are destined to lose the faith of their customers. Your willingness to build a company based on ethics is crucial if you want your business’ reputation to matter. Show your customers they can’t depend on your business to behave in an ethical manner and they will seek out competitors who hold their own company’s reputation in high regard.

“Repetition makes reputation and reputation makes customers.” ~ Elizabeth Arden

By continually offering top-notch service and delivering beyond your customers’ expectations, you can build a reputation as a brand to be trusted. The more effort you and your team put into repeatedly wowing your customers, the faster and stronger your company’s reputation will grow.

“You get a reputation for stability if you are stable for years.” ~ Mark Zuckerberg

Just as repetition is essential for brand reputation development, so too is ongoing stability. Your business can’t deliver exceptional quality one month and then offer mediocre quality or service the moment there is a management change or the boss takes an extended vacation. Stability as a business is critical if you want to build a reputation customers can trust and refer to their friends/family.

Remember these five tips from some of the world’s top business leaders and you will find it easier to focus on maintaining your brand’s reputation. By understanding the importance of reputation for long-term business growth, it becomes easier to invest in reputation monitoring for your brand.