At McPherson Marketing Group, we look to reviews as a clear insight into customer behavior. Individuals who take the time to make online reviews are most likely the very 40% of your clientele who make repeat purchases. Their behaviors are worth tracking!
The trick is not to wait for a crisis to happen – or for an open forum discussion on why your business fell momentarily short in some way. The impact to a business can be dire, many companies don’t even know what is being said about them online which is where reputation management comes into place. Latest research revealed that businesses risk losing 22% of potential customers due to a negative review found on the first page of their search. With three negative reviews, a business is said to have lost about 60% of potential customers. It is safe to say that no business can afford such easy losses. Even in 2014, according to BrightLocal, 92% of people hesitate to do business with companies with less than four out of five stars. Reviews are definitely worth the attention! Read our article on LinkedIn for how to own your brand and work towards getting reviews and plan a reputation management strategy