Why Reviews Are Critical to Your Business: Part 1

Why Reviews Are Critical to Your Business: Part 1

Online reviews—we all read them, and rely on them as part of our decision-making process when we are seeking vendors, partners, and service providers. It’s obvious that positive reviews help move prospects along the buyer journey in your favor, but bad reviews can hinder your business growth. It’s all in the balance of getting the “right” ratio between good and bad reviews; that ratio is key to maintaining a positive reputation.

Bad experience? Expect a bad review.

Negative experiences lead to negative reviews—something no business can afford. Did you 
know that:

– There’s only a 9% chance of getting repeat business from an unhappy customer (Lee Resources).

– A dissatisfied buyer of your goods or services will tell between 9 and 15 people (or more!) about their experience (White House Office of Consumer Affairs).

– Eighty-six percent of consumers stop doing business with a company due to a negative experience. (Customer Experience Impact Report).

– On the flip side, less than half (42%) of consumers will purchase again if they have a good customer experience (Zendesk Customer Service Study).

Delivering a positive customer experience can lead to positive reviews which in turn can lead to increased sales, enhanced brand reputation, strong word-of-mouth marketing, and more.

However, even companies that pride themselves on excellent customer service slip up now and then, leading to a negative experience for the buyer and the potential for a negative review. We recommend that business owners monitor their online reviews and respond appropriately online – even if you reached out to the customer directly.

In our next blog post, we will reveal the ratio of good to bad customer experiences and reviews and how that affects your online reputation (and business growth). In the meantime, we invite you to learn more about Advantage Marketing’s review management services here.

Source: Inc.com

Learn more about AM’s Review Management services!

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