Billionaires Can Sustain Losses From Bad Online Reputations; You Can’t
Not Everyone is a billionaire who can sustain business losses due to a bad online reputation.
I spoke to a very successful and well known business person–a billionaire–who had a damaged online reputation due to several press articles written several years ago.
Since these were from major New York news sources, they appeared on the top of the first page of Google searches. When these appeared online, the result was lost business and less real-estate deals; the damage as the result of these two links were worth hundreds of thousand or millions of dollars in losses.
Newspapers Wrote Negative Articles About a New York Real-Estate Mogul.
In an attempt to reverse this, he decided to go with a repair company that was less experienced in such issues and was attracted to a very low but unrealistic price. However, they were not effective. Unfortunately, he did this twice, trying to work with two different companies, both of which either didn’t solve the problem or only worked temporarily. Because of this, the two negative links still showed up on the first page of Google, and as a result, he continued to lose deals and money.
To make matters worse, a few additional bad links also appeared on the first page of search results. Also, I could also easily see the work that had been done was probably causing additional reputation harm and was of poor quality. For example, the content created was not aligned with the real-estate business; infact, it focused mostly on political rants which is never a way idea to repair a reputation.
So not only were the links still out there, but they remained there for a year or more while the repair attempts were going on. Because he decided to go with a few other companies that did not solve the problem, it meant the problem lingered for more than a year (since each repair usually takes about six months or more to resolve).
The lesson I want to share is that it’s crucial to find a good repair solution immediately.
Not everyone is a billionaire who can sustain massive losses.
(By the way, those links are still showing up for him and his business…)