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Do You Know How Vital Business Reviews Are?

There is something absolutely critical to your future success, yet many business owners have given little thought to their business reviews up til now.

First, the statistics clearly show how important reviews are these days:

  • 71% agree consumer ratings make them comfortable they are buying the right product or service.
  • 92% of customers trust “star” ratings above all other forms of advertising.
  • 72% trust online opinions “as much, or more” than their own friends & family.
  • 75% of reviews posted are positive, thus 1 in 4 is negative. But an amazing 95% of these unhappy customers will return if an issue is resolved quickly & efficiently.
  • 63% people more likely to purchase from a website with product ratings and reviews.
  • 74% increase in product conversions when you have good reviews; 80% of consumers have reversed a purchase decision however due to a negative review.

Perfection isn’t Possible - Unhappy Customers

It’s effectively impossible to offer any product or service in 2016 without a “star” system or text-based review. As consumer expectations have evolved, reviews have become critical to most consumers. Entire sites just recommend “the best” of something. Consumers care about more than “stars” only, but they are a huge part of the buying experience.

Even with bad reviews, the way you handle that negative means everything. Note the stat above, 95% will return if you work quickly to make things right. So you should RARELY lose a customer to a bad review, IF you respond efficiently enough! In some ways, negative reviews can even help your business. How?

Consumers realize you can’t please everyone. Having negative reviews lends authenticity and legitimacy, because feedback typically includes both positive and negative ratings. A poor review can also help you identify issues that could grow into much larger problems if not addressed now. Lastly, other consumers will see how well you respond (how much you value!) your customers. This was, they know if they have a problem, they can expect to be treated well also. So you must address bad reviews quickly!

No Review Equals a Bad Review

No matter your offering, you can see from the stats above that what your current customers say has a tremendous impact on other prospective buyers. So encourage reviews!

Our Review Cards above help you make asking for them a simple task.

Realize that No Review = Bad Review. Good reviews help the consumer validate their purchase decision. But if a customer researches your business and finds nothing, they will often give their business to another company that DOES have them.

Our dashboard pulls in the vast majority of sources online for reviews about your business. Yelp, CityGrid, Yahoo Local, Bing Local, Brownbook, SuperPages, TripAdvisor, Facebook, Google+ and others gather and present the reviews found on hundreds of various websites. You can not only review but respond directly to Google+ and Facebook from the dashboard, while the rest are just a click away. Thus, you’ll never have a bad review just sitting out there without a response from you—and you can thank customers for good ones, too!

The Take Away

Gone are the days when consumers simply research product specs, do basic cost-benefit analysis, or listen to the advice of a trusted contact when making a purchase decision. Consumers expect to see the online opinions of others in almost every situation these days, so your reviews are vital. Remember: You must monitor, encourage and respond to consumer reviews for future success!

Hat Trick Associates offers affordable, effective Local marketing solutions that can help your business stand out in the crowd! Please contact me for more information or questions you may have about business reviews and Local SEO and promotion in general. Call (314) 494-3494 or via email at: [email protected]. Look forward to hearing from you!

Jim Haynes | Owner, Hat Trick Associates