The Importance of Online Reviews for Your Business

The Importance of Online Reviews for Your Business

Reviews are critical to any business that wants to stay ahead of its online reputation in today’s business world. Reviewing has changed the face of marketing since the internet became a household convenience. Its importance ranges from building your brand awareness to an overall increase in long-term profitability.

Why You Need Positive Reviews

When your company has positive reviews online, it means people trust your business – and this is an unparalleled and powerful marketing tool. Consider these statistics:

  • Positive comments produce an average 18 percent increase in sales, and customers are likely to spend 31 percent more after reading good reviews.
  • On the flip side, 22 percent of consumers will not buy a product or service after reading even a single negative review – and four or more bad comments can take away up to 70 percent of a business’s potential customers. Ouch!
  • Having no reviews at all can also result in a negative impact. If your company has no reviews, it implies that people care so little about you, you’re not even on the competitive radar. And no one wants to be the guinea pig who tries a product or service for the first time with no prior recommendations to guide them.

Online Reviews and the Job Market

As an employer, be aware that:

  • 76 percent of professionals research a company before they even consider applying for a job there.
  • 83 percent of job seekers are likely to base their decision on where to apply on company reviews.
  • 60 percent of job seekers would not apply to a company with a one-star rating on a five-star scale. 33 percent would not apply to an organization with a three-star rating.

And, five positive online job reviews make up for just one negative one. So make online reviews part of your strategy for building your positive employer brand.

More Benefits

In a nutshell, online reviews help drive customers’ decisions on what to buy. When these reviews are positive, your company benefits from:

  • Increased sales. Positive online reviews boost sales by giving consumers the information they need to make purchasing decisions. People are always more likely to buy something that has been recommended by others.
  • A better understanding of your customers. Reviews tell you whether you’re doing a good job – or what you’re doing wrong and how you can make improvements.
  • Improved rankings. With ongoing good reviews, you not only create better relationships between consumers and your brand, you also improve your ranking in search engines such as Google, Bing and Yahoo!
  • Higher consumer engagement. Often, online reviews become active social communities where consumers leave comments and keep coming back to see how others respond – or simply to see what other people have to say about your product or service.

Find out what Frontline Source Group can do for you!

Frontline Source Group can be your go-to resource when it comes to building your talent management strategy and employer brand, including online and social media techniques and tactics. Read our related posts or contact us today to learn more.

Category(ies): Blog
Published on: Jul 16, 2018