Regardless if you deliver the best service in the market, or pride yourself on excellent attention to detail; you will struggle to grow your business without investing in online reviews. Reviews have the power to grow or hinder your business. Online brand positioning is nowadays an unavoidable tool to generate new business.
90% of consumers read online reviews before considering a business [i]
Consumers expect transparency, accountability and trust. It is important that you’re aware of your online visibility. We live in a time where transparency has become a large factor in our society. People are sharing their day to day experiences and opinions online. It goes without saying that, reviews provide insight to your potential consumers.
Our Tip: Know where your business is listed and keep your online profiles up to date.
88% of consumers trust online reviews as much as a personal recommendation [ii]i]
The more online reviews you have, the more trust your future consumers will have in you. Reviews give an impression of your business using a large sample of consumers (see fact no. 4). Due to modern-day dense advertising, consumers are looking further to be able to trust business.
Our Tip: Invite and encourage your customers to write an online review.
53% of customers expect a reply to their online reviews within a week [iii]
People want a fast, honest and personalized interaction: your reply to positive and negative reviews will determine the impact on how future customers perceive your business. It is also an opportunity to create a stronger relationship with the customer who wrote the review to maintain your professional reputation online.
Our Tip: Don’t wait too long to reply. This counts for both positive and negative reviews.
More than 200 reviews can increase conversion rates by up to 44% [iv]
To stand out from your competitors, the number of reviews you have can make the difference. “Just one review can boost conversion rates by 10%, 100 reviews by as much as 37% and at 200 reviews, the conversion rate could rise by a stunning 44%.”
Our Tip: Incorporate reviews as a part of your marketing strategy and daily operation
Online reputation makes up over 25% of a brand’s market value [v]
Your online presence is much bigger than just your website or LinkedIn Profile, it’s everywhere! Online reviews and platforms make up over 13% of how Google and other search engines rank local search results. This means that, if you’re not represented correctly on review platforms, your competitor could have an advantage.
Our Tip: Use multiple sources and platforms. Regularly update your website, social media channels and link these in email communications to your database.
One fact remains clear: customer reviews matter. Regardless if you already use reviews, or you’re just getting started, you want recent reviews and as many of them as possible. This can give you a serious leg-up against the competition. Building an online reputation takes time. Be patient and you will be rewarded.
What’s your experience with online reviews? Leave a comment!
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[i] Pitman,Jamie. (2017). Consumer Review Survey. Retrieved from: Bright Local. [ii] Anderson,Myles (2017). Consumer Review Survey. Retrieved from: Bright Local. [iii] Review Trackers (2016). Google Is Dominating the Review Market. [iv] Morrison,Kimberlee. Digital Reviews Drive E-commerce Conversion. (2015). Retrieved from: AdWeek. [v] Deloitte. (2012). Reputation.
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