Reading online reviews is the first thing a customer does before they purchase a product. If your product does not stand up to the top ratings the sale is lost. Business owners need to know the impact of the virtual world regardless of the level of sales or service they do on the internet.
How do online reviews affect your business?
Sales Lost or Gained
Statistics show that 86% of customers will not purchase from a company with negative online reviews. Even companies that do not sell online but are listed on sites such as Yelp or Manta have an online review presence. Customers want to know what the purchasing experience is for a company, therefore they will do the research.
Positive reviews give consumers confidence in the product and the company. However, usually a consumer will take the time to leave a review when they had a bad experience.
Compounding Effect
Negative reviews can have a damaging compound effect on a business. A few similar negative reviews can signal a red flag and push potential customers elsewhere. Creating a slump for sales and further pushing the company behind the scenes. It is important to know what your online presence is to the customer, especially if it is falsely negative.
Conversely, if there are hundreds of positive reviews for a company or product, viewers are much more likely to buy the product. Statistics show that consumers will spend “31% more on a business that has excellent reviews.”
It is all about Trust
When a customer can trust the experience and product or service before they purchase, they are more likely to stick with a company long-term. Trust and loyalty go hand in hand. One site claims that customers read up to six reviews before entering a business. For many businesses, their online reviews are the first impressions.
Perhaps you don’t know what your online presence looks like to consumers, or you would like to increase your ratings. Don’t fall behind because you are not sure where to turn. Here at Smart Link, we understand the value of online reviews for a company. Contact us today and we will work with you.