How Negative Reviews Affect Your Business?
Over the past few years, the popularity of online reviews has grown enormously. In fact, a review left online is an enduring record of that consumer’s experience. Any product or business you find online, probably you will find customers comments to go with it. Actually, reviews help individuals decide which products or services they should use, where they should travel and more.
So what does this mean? Do you need to scan the Internet all the time to find any mention of your company, positive or negative? How good or bad impact your business online presence? Should you actually care about what others say about your business online?
Let’s take a look how reviews impact your businesses and how important it is to have a good online presence:
What is the impact of online reviews?
With the time, reviews have become an integral part of the businesses these days. Reviews can have a direct impact on your business bottom line. In fact, regardless of the business type you are in, a strong online presence is necessary for the continuous success.
Being a business owner, it is crucial for you to comprehend customer usage as well as the approach towards reviews. The latest review marketing statics demonstrates:
- 92% of customers go through reviews online while looking for a local business.
- 42% of customers do not use a product or services having less than a three-star rating.
- 68% costumers will form an opinion about local business after reading just 1 to 6 reviews.
There are a lot of pros and cons of online reviews. Positive reviews help create an online presence. Actually, the experience of a happy customer constructs faith with both the search engine as well as prospects. On the other hand, a bad review takes thousands of potential customers away. Furthermore, a negative review lingers online for weeks to years. Let’s discuss in more detail:
What is the impact of positive reviews?
Good reviews have an instant, positive impact on your business. Nowadays, 90% of people often read reviews online while deciding upon a business. Here’s how positive reviews help your business:
- The positive review increases the probability of convincing customers to spend more money for product or services.
- Help cultivate customer’s loyalty.
- Improve SEO and Keyword rankings.
- Increase the sale.
- An upsurge in business revenue.
What is the impact of negative reviews?
Consumers are more tending to write about their bad experience online. It is an easy way to get back at terrible customer service. According to a survey, 94 percent customers admit that patrons review make difference in their buying decision.
Here’s the impact of negative reviews on businesses:
- Negative reviews can be destructive to the reputation, profitability as well as the reliability of a business.
- A single bad review can cost a business about 30 consumers.
- Customers hesitate to buy from businesses having too many negative reviews or products with no review.
In fact, no one wants to see their customers posting bad online reviews. However, the truth is every business have patron complaint filed against them at any point. Thus, if businesses do not address them instantaneously, they will start to gain impetus in search engines as well as online review sites.
Consequently, there is a need to use different available tools in order to manage reviews online. A single negative review can cost you time as well as money. Here’s why:
- Social Media: As the world exists today, an individual can go on social media and ruin your business reputation on the basis of a single incident. Therefore, you should need a social media plan and stick to it.
Fact is, any individual has more than 300 friends on social media. If you vend a product having $5 cost, a negative impact of online reviews cost you 1500 dollars in prospective business
- Search Engines: Customers reviews are gaining influence in search engines. A positive review is a good way to get your bump over the competition and negative one will stay online always.
Actually, Google has a clear policy on what they will eliminate. Hence, if a bad review might be seen once a day for 5 years then imagine how much potential customer you will lose.
- Third Party Review Sites: There are a lot of third-party sites that host customer service reviews and you should aware of what is out there about your industry.
So, have you gone through the article? How online reviews affect business? Whatever people are saying about you can make or break your business reputation.
In this Internet-driven marketplace, you should care about what people are saying about you online. Positive reviews help you gain customers. And the negative one turns customers away.
Today, people look for online reviews and put confidence in those reviews. Therefore, it is the time to take an active role in the process. Offer consumers comment cards, send out surveys and ask pleased clienteles to share their experience. This will help you convert your online spectators into new patrons.