Your online reputation is more important than you might think. Research indicates that up to 91% of shoppers between the ages of 18 and 34 put a great deal of faith in online reviews when choosing a company. Moreover, businesses see a 5% to 9% increase in revenue for every one-star increase they get on Yelp. Here’s a quick look at how a negative online reputation can affect your business.
Loss of New Customers
When consumers are searching for a new product or service, they usually turn to Google. Not only will they visit the company’s website and/or social media profiles, but they are also likely to check out online reviews as well. It’s usually acceptable for a company to have one or two negative reviews—this demonstrates authenticity and makes the positive reviews more believable. However, having too many negative reviews will encourage consumers to look elsewhere.
Loss of Current Customers
Believe it or not, having a negative online reputation can discourage your current customers, even if those same customers have reported positive interactions with your brand. Customers who become aware of negative online reviews might suddenly question their decision to purchase your products or book your services. They might decide to choose one of your competitors in order to avoid the risk of having a negative interaction with you in the future.
Problems with Recruitment
A company is only as good as its employees. They are the heart and soul of your company. They take care of your customers, build your brand, and scale your operations. If you have a negative online reputation, you may find it more difficult to attract and recruit top talent. Furthermore, your current employees may find the negative reviews demoralizing, and they might start to polish their resumes.
Clearly, having a negative online reputation is bad for business, but what can you do about it? Contact the experts at Smargasy, Inc. to discuss our online reputation management services. You can reach us at (239) 214-8592 or by emailing [email protected].