How Reputation Management Services Help Grow Your Business.

online survey

More business owners are using reputation management services to help them obtain, monitor, improve, and respond to online reviews. This has become a crucial business tool. According to recent data, online reviews play a major role in consumers’ decisions to patronize a business. About 70 percent of consumers admit that they are more likely to do business with businesses if they have good online reviews. This could mean the difference between life and death for a business that has no online reviews or negative reviews.

The purchase likelihood for a product with five reviews is 270% greater than a product with 0 reviews. [Spiegel Research Center, How Online Reviews Influence Sales]
50% of consumers that leave restaurant reviews expect responses from the business at least ‘sometimes’. [GatherUp, Online Reviews Study: Restaurants and Reviews]

Important Stats About Reputation Management

Positive reviews for businesses are more important than ever because according to recent data, more than 85 percent of consumers said they read reviews for local businesses. Additionally, almost 80 percent of them said that online reviews are just as important as reviews from family and friends.

According to experts, review signals make up 15% of Google local pack ranking factors. [Source: Moz, Local Search Ranking Factors Survey]

How Reputation Management Services Benefit Business Owners?

How does investing in reputation management benefit business owners? It enables them to get more feedback regarding their services, products, customer service, etc.  The reviews they receive are valuable because business owners can find out their strengths and weaknesses from actual clients and make necessary changes. Another great benefit is the fact that reputation management gives them a great competitive edge. This works to their advantage if their competitors aren’t focusing on reputation management, don’t realize the importance of this business tool or don’t use it effectively.

How Reputation Management Services Help Develop Your Business Reputation

Reputation management helps build and maintain an impeccable and credible business image. How? It helps business owners avoid the negative impact of bad reviews.  It gives them the ability to quickly and respond to dissatisfied consumers and work to rectify problems. Responding to negative reviews is an important task because other consumers are reading about the negative experiences.  Potential and current customers want to know that business owners care about customers and that they try to resolve problems quickly.  It also helps to respond to positive reviews and thank the customers for taking the time to write them.

When hotels start responding to reviews on TripAdvisor, they receive 12% more reviews, and ratings increase by 0.12 stars on average. [Harvard Business Review, Study: Replying to Customer Reviews Results in Better Ratings]
53% of customers expect businesses to respond to negative reviews within a week. [ReviewTrackers, Online Reviews Survey]

Why Consumers Favor Reviews On Review Sites Over Reviews on A Business’ Website

Consumers trust online reviews on various review sites more than reviews posted on a business’ website. Online review sites have guidelines to post reviews and they can’t be altered by business owners. This gives consumers confidence that these reviews are real feedback from actual customers and that they were not fabricated by business owners.

Improving your review star rating by 1.5 could equal 13,000 more leads. [Location3, Positive Google Reviews Improve Paid Search Conversion Rates]

The Numerous Benefits of Reputation Management Services

Business owners reap numerous other benefits when they use a reputation management service.  They can:

  • Monitor and track online reviews
  • Review reports that contain lots of valuable information regarding the effectiveness of their reputation management
  • Receive review alerts
  • Select from hundreds of review sites that cover numerous industries
  • Determine the best and most important review sites related to their business and industry and ask customers to post reviews on these sites
  • Quickly and easily respond to positive and negative reviews
  • Easily send customized e-mails to clients asking them to post reviews
  • Get reviews 24/7
  • Simplify the process for customers to write reviews
  • And much more
45% of consumers say they’re more likely to visit a business that responds to their negative reviews. [ReviewTrackers, Online Reviews Survey]

Reputation Management Services Can Make Major Difference For A Business

Signing up for a reputation management service will enhance your business and it could just be one of the best business decisions you could ever make.

Every 1-star increase in a Yelp rating leads to a 5-9% increase in revenue. [Harvard Business School, Reviews, Reputation, and Revenue: The Case of]
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TK Internet Marketing

Established in 2003, TK Internet Marketing is a premier digital marketing agency specializing in cost-effective digital marketing solutions. Our dedicated team crafts customized Internet marketing strategies aimed at catalyzing business growth and boosting revenue for clients nationwide.

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