There’s a new buzzword that’s making the rounds these days in the internet world and it’s called ORM (Online Reputation Management).

It’s hardly groundbreaking stuff, since public relations mostly catered for this need ever since that first company decided to badmouth a competitor, but it was certainly given an enormous boost with the recent launch of BrandsEye from Quirk and the proliferation of its existence by all and sundry and the spectacular ability to track brand mentions on the internet.

Similar to previous other buzzwords like join the online conversation, Web 2.0 / 3.0 / Semantic Web, Generation X / Y or whatever fancy term you’ve come across, it tends to become a tad annoying, overcooked and almost always, (slightly) overhyped.

I am not disputing the advantages of incorporating these elements into your online strategy as it may provide your business with a distinct advantage over your competitors, a true reflection of (the perception of) your brand on the internet, a way to engage with your target audience and a two way channel for client relations.

However, while those are all beneficial business add-ons, it might not be a requirement for your imminent needs nor may online even be a critical element of your business model.

You might find the odd meeting or conversations with social media strategists (those guys that keep on harping about how fantastic the internet is) to start off with “you need a blog” or “if you’re not on Facebook, you’re not online”. I am one of those guys and have fallen into that trap before, especially considering the industry being relatively new and the eagerness with which we approach this international communications facilitator.

Despite the obvious benefits online serves many businesses and industries, it is never a good idea to rush into any new media practice with rigorous excitement and a futile follow through.

If “the online conversation” with your consumers does not add value to your client relations strategy, then it’s certainly not a commendable route.

Rather focus your money and your efforts on the things that matter most to the foundation of your business, whether that is professional business cards or exceptional coffee. The best advice I can give businesses today is to “establish what the best thing is you can do with your time and money today”.

While you’re at it, add bootstrapping to your buzzword list of 2008.