The way the online marketplaces works, changes every often. For most parts, it’s how Google ranks your business and how authoritative your visitors find your website to be. Consequently, marketers, regardless of the industry they work for, put how focus on building the credibility of the businesses. One of the latest trends to achieve marketing success is through online reviews. If you have been following local businesses for a while now, it would be pretty easy to notice how they have become more active of platforms like Trip Advisor or Yelp. Enterprise level exes on the other hand are drilling down on their review database and all third-party feedbacks to engage new customers and stand against competition. So what is all this about?
The importance of a 5-star rating
It’s true to say in the present online marketplace that online reviews have become the new “Word of Mouth”. Reviews are like recommendations and feedbacks from a first person. For example, if you are planning to buy a new refrigerator or searching for a spa close to your place, what is the first thing that you do? Intuitively, the search starts by asking friends and colleagues about recommendations. In the digital word, online reviews have achieved the same status. Potential customers are more into reading reviews before making a purchase decision, regardless of the brand, product or service. In the past few years, brand strategists, reputation managers, search marketers and marketing agencies have consequently started crafting new ways to build a 5-star presence across all kinds of popular review websites. Statistics suggest that 87% of modern customers won’t do business (make a purchase) if a business is attached with low ratings and negative reviews. Anything less than 3-stars is bad for business and this is regardless of what you are trying to sell. Here’s a full list of online review statistics that you need to be aware of today.
Improved Google SERP Ranking
It’s not just that the modern customer is aware of what other people say about a product. Google, the leading search engine and the core platform for showcasing your business, also regards positive reviews as a prime ranking factor for your business. Whether you are a dog trainer or a local dentist, its online reviews that will help you rank higher in the search engine and consequently, make it easier for people to find you.
Dealing with negative feedback
40% of modern consumers develop a business notion after reading online reviews about a business. Now, the problem is, since, it is a first person feedback, there would also be the change of a negative feedback. It is necessary for businesses to handle such situations strategically. There are several tips on how to respond to a negative review but the first thing that any expert would suggest is to respond positively to the feedback, appreciate the review, acknowledge the problem/mistakes and solve it. This is an incredible way of turning a negative review in your favour and proving yourself to be a customer friendly business!