Your business’ online reputation should be one of your top priorities. You create your site, complete with your customer reviews, you make social media accounts, and frequently update your business listing in Google. But your online reputation is not only the outcome of your personal efforts because it is actually all the instances that your business appears on the Internet, which includes online reviews. It is, therefore, crucial to understand how these could impact your business and how you could utilise them in a way that will benefit your online reputation.
Are Online Reviews Really That Important?
Aside from being widely prevalent online, online reviews, both positive and negative are also being utilised by consumers when making buying decisions. Recent surveys show that around 90% of shoppers read online reviews first and 88% of those shoppers actually trust online reviews. Basically, this means that if you don’t have online reviews, you’re somewhat withholding crucial information that the majority of your potential customers consider vital for making a buying decision, says a web optimisation expert from Bambrick Media.
Furthermore, recent studies also show that 72% of shoppers state that they immediately trust a business with positive reviews, and 31% of them are more likely to buy more from a business with rave reviews. On the other hand, 86% of shoppers choose not to purchase from businesses with negative online reviews.
A great example of the influence of online reviews is Yelp. Businesses who have been given bad reviews on Yelp know exactly how troublesome it is to get their good rating back. Additionally, even a one-star increase on the Yelp rating could result in 5% to 9% increase in profits, while one bad review could cost a business as much as 30 customers. And consider this, a business’ page in Yelp sometimes even rank higher than the business’ official website on SERPs.
Online reviews these days encompass everything online and not just those customer testimonials you feature on your site. With the growing number of directories, platforms, and sites, as well as their increasing interconnectivity, it’s more vital than ever to begin monitoring and managing your reputation online. With the right combination of preventative maintenance and prompt response strategies, you could easily take advantage of online reviews and grow your business.