You Only Get One Chance at a First Impression
online review management
What Is Online Review Management?
We all know what online reviews are and how important they are for business, but there is more to it than that. Enter, online review management. ORM is the process of monitoring, analyzing, responding to, and generating reviews using multiple online review platforms. Generally, these campaigns are aimed at improving overall business and enhancing the bottom line.
Whether a small business or a large corporation, it’s vital that you have a section of your marketing plan that focuses on due to their direct impact on your business revenue and overall reputation
Why Online Reputation is Important
Sites such as Google, Yelp, Facebook, and Tripadvisor provide powerful influence in shaping consumer behavior when talking about online reviews
More than ever people rely on online reviews when researching a business to make their purchase decisions. This makes listing management even more important than ever. Consumers have always been very careful where they decide to spend their money and are even more so today. A large part of this decision-making is based on what others have to say about a business.
Safe to note the old saying, you only have one chance to make a great first impression.
It is estimated that 97% of people read reviews of local businesses before making a decision and almost 50% of people say that quantity of reviews matters. Because of this, it is important to know what people are saying about you and engage proactively, whether the feedback is positive or negative.
what are the benefits of reputation management?
There are many benefits associated with having a sound reputation management strategy, including:
Read Online Reviews for Local Businesses
58% of consumers would pay more to support a company with good reviews
Studies have found that 58% of consumers would travel further and pay more for a service with good reviews. 41% of consumers believe reviews are one of the most important things when looking for a local business.
Review signals account for about 15% of Google local rankings
Having positive local reviews is a way to improve your ranking with search engines. In fact, they account for roughly 15.44% of SEO ranking credit. When ranking for reviews, search engines look at review quantity, diversity, velocity, and quality.
A 0.1% increase in star ratings increases conversions by 25%
Increasing online your online ratings by just 0.1% can help to improve your conversion rates by 25% and reaching a 3.7-star rating can boost your chance of conversion to 120%. Along with all that, replying to your reviews at a rate of at least 30% will net you more customers
Customers spend up to 31% more on companies with excellent reviews
Consumers spend up to 31% more on companies with excellent reviews. Furthermore, around 98% of consumers will make a purchase after reading reviews.
You risk increasing customer churn by 15% when you don’t respond to reviews
Responding to your reviews is equally as important as receiving them. Studies have found that the customer churn rate increases by roughly 15% when you do not respond to reviews.
56% of customers say a company’s response to a review changed their perspective on the business
Having the right response to an online review can change how consumers feel about your company. 56% of consumers say a business was viewed differently depending on how they responded to reviews.
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