90% of your local consumers are likely to do research online before making a purchase decision. The impact online reputation and customer reviews have on your business plays a large role in how you boost sales and expand your business.
Review and Reputation Management is the process of getting 5 star reviews, minimizing and dealing with negative reviews and making your positive reputation a marketing tool.
Here are the key factors in reviews:
Do you have a lot of reviews?
Are the reviews recent?
How do you handle negative reviews?
Positive customer reviews improves website trust authority
According to Moz, four or five negative reviews about your company or product in Google search results can cost you 70% of potential new customers.
Building a trusting reputation online is mandatory. A way to build trust online is to come up with an online reputation management strategy for review sites like Yelp!, Angie’s List, Google, Bing Places and Facebook to just to name a few sites. Send your customer base to get as many people giving you as many positive customer reviews as possible.
Online reputation management gives your brand a voice in the conversation
Companies accept that the conversation is no longer 100 percent in their hands. Conversations happen about your company across many forums, websites and social media networks, with or without you. With a reputation management strategy, your business can provide a strong branded voice across the web.
According to Vendesta, if your business helps solve an issue quickly and efficiently, 95 percent of unhappy customers will come back and do business with you.
Online reviews and reputation management improves online traffic
The more your brand publishes quality pages online, the higher the probability you pull in more traffic from search engines. The same goes for getting more customers to write reviews on the web for you. When you drive your customers to review sites, they’ll mention your name or website and the review pages will index in search engines.
And we know how Google favors online review websites. Online reviews is a search ranking factor.
Negative comments and customer reviews will hurt your business
Customers are more inclined to write about a bad experience online. It’s the easiest way to get back at horrible customer service. If your company is ignoring or unaware of the power of negative customer reviews, you need to take a serious look at the numbers.
According to Moz, 67.7 percent of customers surveyed admit that customers reviews make a difference in their purchasing decision.
So how much does a negative customer review cost your business? Reports show that if one bad negative review pops up in review site search results, it will cost about 22 percent of new potential customers. That number jumps to up to 59.2 percent when three bad reviews are shown. And if a bad review shows up in a Google search result, that number moves up to 70 percent of new opportunities lost.
Positive customer reviews improve bottom dollar sales
When customers are unsure about what product to buy or unaware of what brand is “good” they look to their friends or customer reviews.
Stats show that websites with low 1 or 2-star ratings lose 90 percent of business.
So you want to make sure your company’s reputation online is as good as it can be.