United Airlines knows the value of reputation.They can attest to the adage, "Bad news travels fast."
For them, the hit on their stock price went from $71.52 to $67.75 per share in 5 days or $16 million! Now add on any civil suit, you can see that a change in their reputation via facebook, twitter, youtube, and the news media hurt - big time. If only they would have...
So, what’s a reputation worth? A sullied reputation that can be saved with better customer service or spending a few dollars to make something right with a customer.
On the internet, however, anonymous postings can deter a client from looking at you further. What can you do if a competitor starts burning your brand with false claims from fictitious customers?
Losing customers and employees will cost money if you do not watch and manage your online reputation.