Business Profit Leaks – #2: Not Building and Managing Online Reviews

This entry is part 3 of 9 in the series Business Profit Leaks
 

Not Building and Managing Online Reviews

 

What are your customers saying about your business online?

 

A recent online study found that 62% of respondents read reviews online before buying a product or using a service.

 

The numbers speak for themselves. Up-to-date information and positive reviews are extremely important for the success of your business.

 

Review sites take up a huge portion of the total websites on the Internet. Everything from the latest phones and gadgets, to medicines, restaurants, and socks are reviewed on the Internet.

 

Not taking advantage of such free publicity can be a huge profit leak for your business. The days have changed where people solely rely on reviews from friends, peers, and neighbors when buying a product or service.

 

Now, they go right to the Internet to do their research. If your competitors are plastered on all of the review sites and have tons of positive reviews and your business does not have any, who do you think consumers will choose?

 

The best part of this whole process is that receiving online reviews does not cost you one cent. These sites are free, so why not build your reviews?

 

Offer incentives to your current customers to go online to give your company a review. Most of them won’t even need an incentive as happy customers love to spread the word online.

 

On the flip side, unhappy customers also like to spread the word online. So if your business has some negative reviews, you should work to build up your reviews from “satisfied” customers to offset those negative reviews.

 

There are many ways to manage your business’s reputation. For instance, your website, literature, and any other marketing methods should also highlight what your satisfied customers have to say about you.

 

Letting people know what you have done for others is one of the oldest and most powerful marketing tools we have available. If customers do not hear about the positive things others are saying about you, you may never get them to come through your doors.

 

If you're having a problem getting good reviews, you might want to check out our "Voice Of The Customer" review building package.

 

 

Series Navigation<< Business Profit Leaks – #1: Not Making the Most of Your Contact ListBusiness Profit Leaks – #3: Not Staying On Top of Online Reviews >>