Online reputation management means different things to different people (or companies). Here are a few Online Reputation Management services that are performed by companies and consultants:

Search Engine Reputation Management - This is what I mean when I speak to I speak about reputation management. This is by far the most critical aspect of online reputation management. The problem here is when someone types in your name/brand/service in Google and negative results appear in the top of the rankings.  Unfortunately, people can say whatever they want, in complete anonymity, whenever they want. It can be a competitor, jealous ex-girl-friend, disgruntled employee. The search engines just want diversified results, blogs and rant sites like rip off report just want content, so you are stuck in the middle looking really bad to the public and likely hurting your relationships.

An Online Reputation Management company would promote positive press (even create it at times) in order to flood the top of the results with good stuff.

These services, if done right, are typically not cheap and not guaranteed. But if you use your name or brand to make money, bad results in Google will lose you hundreds of thousands in business.

Social Media Online Reputation Management – Social media reputation management is when a company monitors, responds and tries to overt mass spread of negative press about your brand. You can use software like Trackfur, Raven tools, or any of the other great pieces of software out there to help you, but oyu need to make sure you do something with the data. The best thing you can usually do to protect yourself is be very active in the Social Media sites so when something bad does come out, you already have an established presence and your ability to respond is greater, an typically, more accepted.