How Online Reviews Impact Your Bottom Line

reputation management

Consumers Like Recommendations 

Every business owner is also a consumer. And every consumer likes to be recommended before buying a product or service.

When it comes to reviews and recommendations, businesses fall into three broad categories. Firstly there are businesses that are highly recommended.  Secondly there are those which have poor recommendations. Thirdly, businesses with no recommendations at all.

Before the upsurge of online shopping you might ask a friend for a recommendation before buying a product or service on the high street. You would probably stay clear of businesses that have poor or no recommendations and give your business to a recommended provider.

Your Recommendation Status Matters

Where is your business when it comes to reviews and recommendations? If you as a consumer feels it is important to seek businesses that come highly recommended then surely you want your business to be in that category too.

Ask For Reviews

For some reason most businesses neglect to ask customers, especially satisfied customers to leave a review online. Think about it for a moment. A satisfied customer may tell her family and friends about how happy they were with your service or product. This may amount to ten or even twenty people. Some of them may pass on the good reviews to others. So all in all you may get forty or fifty people hearing about your business in a positive way. 

That is a lot of people. But think about how many people can be reached if that same satisfied customer leaves a review of your business online. The audience could be thousands, tens of thousands or even millions of people.

Online Reviews Are A Must For Your Business

If you are not asking your satisfied customers for reviews at the moment, you need to get started, right now. If you don’t then you are losing out and gifting potential customers to your competitors. 

Importance of Listening

Retailers and service providers should be listening to their customers. One of the best ways to do that is through review software. Listening to good reviews lets you know what you are doing right. Poor reviews gives you the opportunity to correct areas of your business where customers feel could be improved. 93% of consumers say that their busying decisions are influenced by online reviews.