Why Online Reputation Matters?
Online Reputation can be source of motivation or the cause of anxiety for business owners! We live in a time, when everyone who has an opinion about a product or service, shares it on social media channels, review sites, and blogs. It’s not just common for customers to surf the web for customer reviews before hitting the ‘Buy Now’ button, it’s almost a requirement. In just about every industry, customers leaving online reviews and detailing their experiences can be a matter of concern as it affects their click-through rates, which in turn affects their revenue.
92% of consumers read online reviews before visiting a business. (2017) Brightlocal
Why should YOUR company’s Online Reputation Management matter?
A business’s online reputation holds value for people seeking more information. Customers check review sites, for not only the best deals, but to get a broader perspective of your business. The new-age consumer seeks to understand what others are saying about your business before confirming the purchase. Often, opinions of previous customers tend to influence the minds of the reader. Which is why, a one-star rating or a 5-star rating on a reputed platform often dictates the kind of revenue that can subsequently flow in for your business.
Think about it, the last time you visited a town where you didn’t really know anyone, where did you go to ask, “where is a good place to eat?” Or let’s say you returned home and found out that your refrigerator stopped working, would you just go to the local appliance store and pick one up, or would you do a search online to find out which one got the best ratings in your price range?
MySocialTip # 27: Your target group is out there, surfing online and reading reviews via various devices and if your company’s online reputation is lacking, then your new customer flow is too.
How does the online reputation connect with a business’s revenue?
What your business customers say about your company in the form of text, photos or videos is the kind of content that is influencing the minds of the potential customers. Review sites such as Dealerrater, caring.com, and angieslist have a direct impact on the revenue for business owners.
A business’s reputation management is a big task if done correctly. Besides, you certainly need to track your online reputation as it has a direct impact to your business’s revenue.
Customer reviews have a direct impact on your business’s demand. A positive review from happy customers can influence the minds of the next reader contemplating using your business. Negative reviews on the other hand, can tarnish the image of your brand. Your business’s online reputation therefore holds tremendous value and must be a part of your marketing plan.
So, how can you manage your company’s online reputation?
Take the negative reviews in a positive light: Sure, not every customer will be a happy one. When the rancor flows online, it’s ok to be stressed a little, but you can turn the situation in your favor with a response that aims to address the issue. Be polite, understand what your customer says and demonstrate how far you’d go to ensure the problem is resolved. As you respond, there’ll be many other concerned customers who will read and notice your approach. This shows your professional attitude that will help build trust and connect with your target group.
A Reputation Management Agency, like MySocialRep, has tools that monitor all review sites, this is imperative to answer those reviews in a timely fashion. They can also customize your emails easily to obtain feedback from your customers.
This process helps increase your online ratings and reviews, while still collecting the feedback from customers who were not quite so happy. It will not only improve your online reputation, it will help you improve your process by finding out what your customers really want and need from your business.
A sound reputation of your business will have a direct impact on your bottom line in the long run. With the help of technology, you can leverage online reviews to increase business, boost your star ratings and stay ahead of your competition. What are your ideas for online reputation management? Do let us know.
Derek Bachmann is Senior Marketing Consultant with MySocialRep LLC. He has over 10 years experience in Reputation Management and over 25 years in Digital Marketing.