Good VS Bad: How Online Reviews Affect Your Business

Good reviews! Bad Reviews! It’s a pretty well-known fact that online reviews affect your business.

As technology becomes more mainstream, Australians rely more and more heavily on online reviews to help influence their decision-making. Online reviews influence where we shop, where we dine, what services we use and even what modes of transport we take. In some cases, reviews have replaced the need to consult friends and families for their opinions.two-thirds of Australians will rely on reviews to decide if they want to make a purchase [1]!

As people become more familiar with how and where to leave online reviews and that people actually care about their opinion, it’s important to recognise the impact online reviews can have on business. 

How can online reviews affect businesses?

Online business reviews are, essentially, like water—necessary to give your business life, but if you don’t make reputation management part of your daily marketing strategy—like water erodes rocks—ignoring reviews can wear away at your business until it crumbles.

With 97% of people now considering online reviews as vital as water, what people say about your business can have a greater effect than what you may think [2]. Customers look to platforms such as Google, Yelp, TripAdvisor and Facebook to help them make educated decisions.A long list of recent, positive reviews online is sure to win you brownie points. (Did someone say Brownies?)

In fact, 72% of consumers have said that positive reviews will make them trust a business more! Not only is this good for your brand name, but it’s also great for your wallet, as those consumers are likely to spend 30% more with you than with anyone else [3]. Cha-Ching!

In comparison, having no reviews or negative reviews can really damage your reputation. Each negative review can cost you up to 30 customers, and over time, 86 per cent of people will be hesitant to trust you [1]!

Want to run a business with no (or negative) reviews? We didn’t think so.

Are there advantages to getting more online reviews?

The short answer to this is yes. But the longer answer is, it depends on what reviews you get and how you go about it.

Before you start hounding people for reviews, there’s a few things you need to think about. Think about how to go about it, your goals, and of course, whether your product or service is up to scratch. Reviews can be like a double-edged sword. While you may have hundreds of happy customers who buy from you regularly, those happy customers are much less likely to leave you a review than the one unhappy customer, so when you’re preparing to get more reviews, ensure you know how to respond. No matter how hard you try, you’ll never keep people happy 100% of the time, so be prepared to receive a mixture of positive and negative reviews when you ask for them. 

Once you know your goals, and you’re sure that your product or service will stand the test of the public, it’s time to try and collect reviews more regularly.

According to Yelp, every increase in stars has the potential to increase your business revenue by 5 to 9%. People need to read at least 6 positive reviews before they decide to buy, so the more reviews you get, the better [3]!

What is the best way to go about getting more reviews?

When it comes to getting more reviews, there’s a range of ways you can go about it. Texting your friends and family, leaving a hand-written thank you note and threatening glitter bombs are all great options, but if you don’t personally know each customer, using a review management software is a great way to go about it.

The Boost Reviews software not only allows you to text or email your customers once they’ve received your product or service, but it also gives you the ability to see who has opened your message, who has clicked the link and how many people have followed all the way through. Approximately 5 to 10% of people tend to leave a business a review [4], so the more reviews you ask for, the more you’re likely to receive.

If you’re concerned about the reviews you receive, don’t worry. Providing the ability for you to manage both good and bad reviews, you’re able to control where people see your reviews and which reviews are seen, customising your platform to suit your needs.

We also have a range of options for replying to reviews that are 3-stars or lower–Available here. If you’re interested in learning how to make the most of online reviews for your business, or how to get more of them, contact our team today!

Sources:

https://www.cmglocalsolutions.com/blog/yes-negative-reviews-can-impact-your-business-but-you-can-overcome 

https://neilpatel.com/blog/your-business-needs-negative-reviews/ 

https://www.invespcro.com/blog/the-importance-of-online-customer-reviews-infographic/ 

https://websitebuilder.org/blog/online-review-statistics/#:~:text=About%205%25%E2%80%9310%25%20of,shoppers%20specifically%20seek%20negative%20reviews.

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