Business Profit Leaks – #3: Not Staying On Top of What People Say About You Online

Not Staying On Top of What People Say About You Online

We’ve already established the importance of getting online reviews from your satisfied customers. Now, let’s talk about those “unhappy” customers a little bit.

If someone is unhappy with your product or service, they won’t hesitate to go online to let the world know.

In fact, customers are more likely to review something they have had a bad experience with than give positive feedback. It is human nature to complain and vent when things are negative, and the internet provides the perfect setting for people to voice these complaints.

If you’re not staying on top of what’s being said about your business online, how can you fix it?

Imagine a potential customer coming across a really nasty post about your business from one of your unhappy customers. Do you think they’ll be quick to call you up or come by? Probably not.

It all boils down to the fact that people put a lot of value in what other people think about businesses. The way consumers think goes something like this:

If other people like you, they they’ll like you too. If other people think your service is awful, they probably will too.
What you don’t know can hurt you. It is extremely important to be aware of negative customer feedback, because it can really negatively impact your business.

Lightspeed Research’s April 2011 survey found that 21% of those surveyed have decided against making purchases after reading just two negative reviews. After reading 3 negative reviews, 37% of people said they would change their mind about their purchase.

This is proof that negative feedback can really affect your profits – in a negative way.

Considering the high emphasis people put on other people’s opinions when choosing products and services, it is very wise to invest in monitoring the reputation of your company.

Encouraging positive feedback and responding to negative feedback can help protect your profits. Additionally, you can use the negative feedback to constantly improve your products and customer service, which is a tool any successful company should take advantage of.

Our “Voice Of The Customer” package includes automated email alerts to let you know when someone mentions your business anywhere on the Internet.

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