25 August 2014
Warren Buffet once commented that, “It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.” What do you think of this statement? Is he right? Is reputation one of the most fragile assets we have in life?
In my experience, it’s certainly something that is becoming increasingly tricky to defend, especially if you’re an ecommerce business operating online under an onslaught of cyberattacks threatening to take your site offline. I’ve often heard it said that people are far more likely to share a negative experience than a positive one, and if this is true, it certainly ups the ante for businesses wanting to protect their reputations. Having said that, I do think people enjoy sharing experiences that made them happy, especially if those experiences took them by surprise.
What do you think? Are you more likely to tell others about a bad customer experience or a good one? How good does an experience have to be for you to want to shout about it?