Customer reviews are a powerful tool for businesses, both online and offline. On average, a one-star increase on Yelp leads to a 5 to 9% increase in a company's revenue. More importantly, 94% of online shoppers reported that a negative review convinced them to avoid visiting a business. Reviews can help you develop your brand, attract new leads, generate more revenue, and train yourself on strategies to grow and improve your business.A study conducted by Brightlocal's annual Consumer Review Survey found that 87% of U.S.
consumers need a business to have an average rating of three to five stars to use it. It's important to ask for reviews at the right time - after a user has had a chance to experience your product or service. The medical company MedQuest, for example, was able to significantly improve its ratings and review volume by improving the rate at which it responded to both negative and positive responses.If traditional advertising is a megaphone that allows businesses to shout and see who is listening, review sites are tractor beams that draw consumers to local businesses precisely when they are actively looking to spend money. In addition to empowering your business with crucial data, you'll show your consumers that you care about them and their opinions, strengthening brand loyalty.
Reviews are like micro-marketing campaigns that continue to work long after they've been published online, providing a consistent positive image to potential customers and creating ongoing brand awareness.Hearing about a customer's first-hand experience with your product or service allows you to assess where the gaps are and where the most effort can be made. By using this valuable information as input, you will be able to improve customer service by quickly and efficiently solving the problems faced by consumers, thus creating a positive consumer experience and maintaining your focus on their needs.In addition, a study published by Harvard Business Review showed that simply achieving a one-star increase in the overall rating of online reviews can increase revenue by up to 9%. Only 57% of customers would choose a company with a three-star rating, but 97% would choose a company with a four-star rating. Consumers who take the time to leave an online review for your business are much more likely to feel some loyalty to you and keep coming back.When you search for a local business on Google Maps, reviews will appear next to the Google My Business information.
This can happen when the consumer doesn't directly decide to post a review and instead is asked to complete a survey.