Invest In Your Brand Reputation And Get More Customers
Online Reviews Impact Sales.
By now, you probably know that online reviews influence customer traffic and buying decisions. But what you may be unaware of is the quantified impact that reviews have on all sales. A number of significant studies, across several types of industries on businesses large, medium and small, have reached similar conclusions:
A Berkeley study on restaurant Yelp reviews proved half-star change can increase sales by 19%.
A Harvard study on restaurants showed that a difference of 1 star can translate to 9% more in sales.
A study done by Volkswagen showed its dealerships with average ratings of 4 stars and higher got 32% more traffic than those with 2 stars and below.
The Hotel School at Cornell University showed that a hotel can raise its price by 11.2% without negatively affecting sales, if it’s rated 1 star higher.
Would you buy a product or service that has bad/no ratings and reviews? Obviously, it would be no, because no one wants to actually have that exact same experience when they buy a product or service. So we always look at reviews as the indicator of how we might experience that product or service. But here is the more important question. Two products are identical; one has ten good reviews; the other has three good reviews but one bad review. Which one do you buy? Obviously, it’s the one with ten good reviews.
Biggest Marketing Shifts Ever
We all want to have a great experience and we’re looking to make sure that a company is consistent with delivering that experience or that product or service. So this is what consumers, individuals, and companies do every single day. They go online and they’re looking to find the most reputable company to do business with. And only one bad review can send the customer from your website or your listing online to someone else’s. So that means difference between your phone ringing or your competition’s phone ringing. That is where online reputation marketing becomes a necessity!
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