Just a few negative reviews can make your business unattractive to potential customers and can take weeks, even months to recover.
Most business owners are aware of the gravity of online reviews. Just a few words, written by complete strangers, can give your company’s online reputation a huge boost — or force it into a negative star dirt bath you’ll spend weeks or even months recuperating from.
It’s ridiculously easy to share your opinion to the world now, and most people do it when they feel that they have been wronged or treated badly. Now the whole world can read those reviews, so you need to monitor them closely and act quickly if you see something disparaging.
Paying attention is an important part of effectively managing your online image. In fact, it is a critical ingredient in today’s business world.
How do you monitor your reviews when there are so many review and rating sites? Do you respond to all of your reviews and who writes those responses?
We all strive for a sustained five-star rating because we know that it is a major factor to our potential customers on whether they choose our business or our competitors. The same goes for the negative reviews, having no reviews is almost as bad as having a 1 star.
Here are some eye-opening stats from a recent study by YouGov.
90% of customers read online reviews before visiting a business.
87% of customers trust online reviews as much as recommendations from friends and family.
4 out of 5 (80%) consumers reverse their purchase decisions based on negative reviews.
Consumers spend 34% more on a business with “exceptional” reviews.
72% say that positive reviews have made them trust a business more.
88% of consumers say they will shop at a local business if it has at least a 4-star rating.
72% of consumers will make a decision only after reading a positive review.
1 negative review can cost a business about 30 customers.
65% of consumers will take a response to a negative review from the owner into consideration
10 reviews on Google and 10 more on other review sites on the web (Facebook, Yelp!, yahoo, etc.) will boosts your rankings. Remember, 72% of consumers will read at least four online reviews before they trust a business. Conclusion, consumers are greatly influenced by reviews, regardless of where they are in the purchasing process.