As a financial services pro – insurance agent, financial planner or adviser -, online reputation management is now one more hat you need to wear.

With the Internet, the power to publish or broadcast to large audiences has passed irrevocably from a select few to virtually everyone. This applies not only to you the local business owner, but also your clients.

Now, Google is giving your clients an even bigger voice.  Mike Blumenthal, a local search expert, wrote about Google’s recent changes to Google Maps and Places Pages:

Google Maps is now using the new capability of sentiment analysis to better understand content and add “reviews” from non traditional sources like newspaper articles and single blog entries that appear across the internet. This new capability will dramatically increase the reach of hyperlocal blogs, change how businesses manage the review process and could, over the long haul, change how and where reviews are generated and aggregated.

Let’s not forget  Google’s “almost deal” to buy Yelp, an online review site primarily for restaurants and local retail shops. While the Yelp/Google deal didn’t happen, in the meantime Yelp continues to tweak their online review process. Google obviously sees User-Generated content, in the form of reviews, as an important piece of  content which will determine winners and losers in local search.

Help… You’ve been Yelped!

With the power to publish and spread their message to thousands online, local businesses must pay attention to these online reviews and pro-actively manage and respond to them.

Customer online reviews DO have the power to make or break a local business. While the positive reviews out number negative, a negative online review can get real ugly… if level-headed thinking isn’t used.

5 Simple Steps to Protect Your Online Reputation of Your Financial Services Business

1. Register- Open a Busines Account on Online Review sites: Yelp, CitySearch, and without question, Claim Your Google Local Business Listing. Make sure you monitor and listen to reviews of your business. (and maybe even keep an eye on what folks are saying about your competitors)

2. Count to 10 Before You Respond- Remember if you blast a response online, it stays online for all to see. If it’s a sensitive issue, use private email, or even encourage a phone call.

3. Go On Record. Make Things Right- Likewise, you have the opportunity to shine a light on your responsive client care. Thousands of potential clients are watching to see how you do business.

4. Take It Upstairs- If the Review is fake, malicious, or you suspect it’s written by a competitor to harm you, work with the Review Site to remove the review.

5. Don’t Call Your Attorney- The laws favor the consumer and the Review Sites.

Here’s the link to the Inc. 5 Steps that I’ve paraphrased here:

Take a Deep Breath

Flickr Photo Credit: w2scott