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Online reputation plays a role in determining a dealership’s value

A dealership’s sales volume, franchise, and location are some of the many factors that go into determining its valuation in a buy sell. A perhaps less obvious factor is now figuring into that calculation as well – online reputation. Dealerships that aren’t monitoring their online presence may be reducing their attractiveness to potential buyers. “The dealership needs to have a significant volume of reviews out there, on the positive side,” said Ali Fawaz, general manager and senior director of automotive with Reputation.com.

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4 Ways Business Owners Can Get Ahead in the Feedback Economy by Michael Fertik, Founder & Chairman, Reputation.com

In 2015, I published The Reputation Economy , which focused on how individuals can improve their professional reputation. It was the start of something big — it took into consideration the fact that social media and reviews have a huge impact on how the public forms their opinions about people. Technology has evolved to enable companies to gather, aggregate and analyze data about people — including our buying habits, our financial health, our professional and personal networks and more — and as predicted, our digital reputations have become our most valuable currency.

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Do retailers have an online reputation management problem?

Online reputation matters. At the Transform ’19 conference in San Diego earlier this month, one point driven home was that, while brands and retailers have expanded their conversational touchpoints as a result of social media efforts, the vast majority of conversations about a particular company’s products and/or services takes place outside of those they control. “We live in a ‘Feedback Economy’ with millions of points of presence to manage,” said Joe Fuca, CEO of Reputation.com, the firm behind the conference.

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4 Steps to Elevating Your Dealership’s Online Reputation

About 91 percent of auto shoppers read online reviews before deciding which dealerships to shop. But proven Online Reputation Management tools can help auto dealers manage their online reputation, keep ratings and rankings high with a surplus of representative reviews.

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