Excellent reputation management builder tips and tricks 2021? Case studies and theory can be misleading. Reality doesn’t always follow a logic, and there are always outliers. But there’s a growing body of benchmark data that proves that reviews do empirically lead to increased revenue. A study by the Harvard Business School found that online reviews can demonstrably impact your bottom line. Brands that are viewed positively have better sales, but even improving your star rating can have a positive effect on your sales. According to the study, a one-star improvement on Yelp.com leads to a boost of 5% to 9% on sales in the short term. Even a small improvement can have a massive impact. In a 2016 study, Revoo found that online reviews drive an average of 18% sales uplift, with benefits including increased conversion rates, order sizes and repeat order rates. And a landmark Berkeley study from as long ago as 2011 found that a half-star improvement for a restaurant made it 30% to 49% more likely to fill up at peak hours. If readers like what they see, they’ll show it with their wallets.
Reviews are also important for local businesses. As many as 82 percent of consumers say they consult them to find out more about local stores (Brightlocal, 2019). This is a slight decrease from 86 percent from the previous year. But industry experts are hesitant to attribute this to a decreasing reliance on online reviews and foresee that they will continue to be important to both local businesses and shoppers. There’s, again, a stark difference in the way the older generation consumes reviews. While more than half (52 percent) of consumers aged from 18 to 54 claim to “always” consult reviews of local businesses online, just one in ten consumers over the age of 55 do so. In fact, 29 percent of consumers over 55 say they never read online customer reviews of local stores, compared to just 17 percent for 18- to 34-year-old consumers and seven percent for 35- to 54-year-olds.
We recommend senior living and 55+ communities approach online reviews the same way they approach their marketing strategies. Every community should develop a reputation and review strategy that focuses on nurturing relationships with prospects, addressing their needs and meeting each person where they are in their individual purchase journey. Something to note, GMB has paused new reviews from appearing on local pages for the duration of the current coronavirus crisis. But that doesn’t mean you have to put the development of your community’s review strategy on hold. You can continue to work on your strategy for soliciting reviews for other sources like Facebook recommendations and Yelp. You can also continue to focus on supporting your community’s residents/homeowners and their families, as they continue to navigate these uncertain times, and provide a positive experience for those who you’re continuing to nurture.
Respond to reviews on multiple websites from one easy to use central dashboard. Share compelling positive reviews, automatically, and use them for social media content. Track trends and receive alerts of new reviews anywhere on the Web. Review My Company is the #1 solution to manage and push positive reviews! Why Are Reviews Important? Did you know that customer reviews increase sales conversions by almost 300%? And that 95% of people read a review before making a purchase? There’s a lot of business to lose if you don’t have reviews for your products or services. Review My Company is an online platform that provides your customers an easy way to review and amplify their positive experiences with your business, while only sharing negative reviews with you. Let’s see how much business you’ve been leaving on the table for your competition. See extra information on company reviews software.
As much as 10 years ago, researchers described it as content that “gives a glimpse into real data from other people, unsanitized by regular media outlets”—a definition that still holds up today. Unfortunately, UGC in the form of online reviews is not something that is easily bought. As we recently discovered, a great overall customer experience leads to priceless content from users. However, companies will still make every effort to generate this, artificially or otherwise, because people are four times more likely to buy something that’s been recommended by a friend. Here’s how online reviews work as an essential part of referral marketing when it comes to e-commerce.