Also, today’s customers do share their reviews and opinions in the comment section of your posts without any hesitation about how they feel about your services or product. Social media comment feeds are a goldmine of brand-related information and opinions.
The task is to sift through the quantities of comments across various posts, advertising, and platforms in order to emphasize the positive evaluations among all the noise and trash.
The most recent statistics are included with a few of them.
Loss of income
Bad reviews on Google, Facebook, and Yelp have a considerable impact on your sales, according to research by Womply. A company with a star rating of 1.1 to 1.5 reports 33% lower revenue than the typical business. According to Forbes, 94% of customers steer clear of businesses with negative evaluations.
Damaging to a company’s Online Reputation
The reputation you have worked so hard to establish can be damaged by unfavorable evaluations. They undermine consumer confidence in your company. Many consumers avoid making purchases from businesses with a poor reputation and dubious legitimacy. Most customers are in doubt about the trustworthiness of a business with bad ratings. Having a lot of bad reviews makes it difficult to win back customers’ trust. For example, while shopping with Myntra people do check out the reviews made by customers for a particular product.
Send clients away
Customers that read negative evaluations end up doing business with your competition. According to research, one adverse review turns away 22% of potential clients, or about 30. The proportion of lost clients increases as the number of negative reviews grows. Three negative reviews result in a 59.2% drop in sales. You will lose 70% more clients if there are more than four adverse reviews.
Lowering of profitability
Negative online reviews reduce your profitability by turning away business and lowering sales. Additionally, the expense of restoring your damaged reputation harms your profitability.
Negative reviews? Here Are Some Options for You
- Review responses should be sent as soon as possible. The majority of businesses overlook bad reviews and don’t have plans in place to deal with them. Responding to both good and negative feedback is recommended practice. According to research, businesses that reply to more than 20% of reviews generate 33% more income than normal businesses. Furthermore, according to Forbes, 45% of customers will go to a store that replies to bad reviews.
- Don’t wait for clients to post their problems on Facebook comments or make google reviews they are facing. Take feedback personally and fix them. The feedback shared should be worked on disliked experiences and work on improvement immediately. Be quick in this process because customers thought it important to leave a public review. Further, it signifies to potential customers your concern and wants to put things right.
- Always offer to solve the issue in person, you can continue to invite the client to discuss the issue in person by a call or email to fix all the issues he is facing with your company.
- Invest in tools for brand management and online reputation intelligence. You can employ these resources to ensure that your online reputation is positive. They also provide resources for dealing with negative criticism effectively.
- Encourage clients to provide positive feedback to balance out negative feedback and boost your total rating. Create a strategy for appealing feedback from your most valued clients at the proper time.
In the present digital age, online reviews can drive clients to your business or your competitors. Customers can leave online reviews about their interactions with your company. Customers spreading negative evaluations, unfortunately, affects your business. As a result, businesses must monitor internet reviews to ensure that their brand is appropriately represented. Monitoring client reviews to keep a positive reputation.