Consumers can have a massive impact on a company’s bottom line simply by posting a review online. They can hinder or enhance a business with just a few words. In today’s digital world, online reviews truly guide people to where they choose to do business and spend their money. A company’s online reputation dramatically impacts their future growth and potential income.
Let’s take a deeper look at the importance of online reviews and the need for reputation management tactics in the business world.
A lack of reviews can be a huge deterrent to potential customers. When a company does not have any online reviews, it gives the impression that they are not an established, reputable business. It can cause consumers to wonder how long the company has been in business, if they’ll actually deliver on their services, and if the end result will be worth their money. A fear of receiving a negative product is a real concern for many consumers. This concern can lead many people to choose another venue or provider who has a large number of positive reviews instead of the one with zero reviews.
With no reviews, the consumer is left wondering what the result will be if they make a purchase. On the other hand, if a company has lots of negative reviews, the consumer pretty much expects they’ll know the outcome if they make a purchase at that establishment. Without even experiencing the company’s services themselves, most consumers will automatically conclude that their purchase at a company with lots of online negative reviews will be bad or inferior. Without any other information to guide them, these negative reviews can cause a consumer to choose another business with a better rating.
Now on the flipside of no reviews or numerous negative reviews is the company with lots of positive reviews. When a consumer is searching online for a service provider, who do you think they will choose if given the option of a company with thirty positive reviews and two negative views or twenty-five negative reviews and five positive reviews? Obviously, they will choose the one with thirty positive reviews. Having a significant number of positive online reviews gives the impression that a business is legitimate and trustworthy, will stand behind their promise, provides a superior product or service (compared to the neighboring business with poor reviews), and has a solid reputation within its community.
Need Help with Your Reputation Management?
We all want to be that last option—a company with great reviews and a solid reputation. However, we don’t all have the time or knowledge needed to spend on our reputation management practices. Here at VANTRUM, we have a team of highly-experienced individuals that can help you in this area. We understand the importance of your online reputation, and we will work with you to develop a plan to improve or solidify your company’s online reputation. To learn more, give us a call or send us a message! We’d love to talk with you.