Reviews have become an important factor in a consumer’s purchasing decision, with 90% of them reading online reviews before visiting a business. Businesses need to value customer reviews to help in increasing their bottom line.
Reviews equal revenue — particularly on businesses with excellent reviews, as customers are likely to spend 31% more on them. Every one-star increase on Yelp means a 5%-9% increase in business revenue.
Online customer reviews
Online reviews are valuable resources of information, giving insight to a business — products/services, staff, customer service, etc. — and potential customers.
An informed expectation guides customers when they walk into a business. If they have enquiries a business cannot answer immediately, customers turn to each other by visiting online review sites.
To maximise the opportunity and utilise these reviews, look at the reason why a consumer would leave an online review.
Why do customers write reviews?
Good or bad experience, customers want to inform the business about it. It’s better for them to know that you acknowledge, hear, and understand their concerns.
Customers also leave positive reviews. This serves as a seal of approval, and to commend the company for a job well done.
Sharing is caring
As we’ve entered a world of transparency, customers enjoy using their voice to share their experiences and help good businesses to flourish. They no longer rely on marketing messaging, advertising, etc.
Customer reviews provide honest feedback and leave room for improvement. They also serve the online community.
Responding to reviews
Responding to customers gives the impression that you care, reinforces your connection, and gives them validation. This validation can make an existing customer into a loyal returning customer, hence, repeat business.
Not responding to reviews will increase your customer churn by 15%. They expect to hear from the business if they have a bad experience for reassurance.
Responding to negative reviews
Poor reviews turning up on a public domain is inevitable, even if you manage them well. This will test the way you handle negative reviews.
If you’re ready to thank customers for their positive reviews, you should also be proactive in responding to negative reviews.
How do you do it? Depending on the severity and nature of the review, here are some guiding principles:
- respond in a timely fashion
- don’t be confrontational
- address the cause of the issue
- always respond and apologise
- offer a solution
- say thanks.
Search Engine Optimisation (SEO)
Customers have to find you first before spending their money. You want your business to be at the top of a results page (SERP) when one local searches for a product or service.
The 1st page on Google claims 92% of all search traffic. Optimizing your business’s local SEO is beneficial as more customers visit your location, your business grows.
Search engines, like Google and Yahoo! Search, guide customers to the best experiences possible. They’ll boost your location ahead of competition if you have better reviews and accurate information online than the rest.
As for mobile users, it’s reported that local search drives 50% of mobile visitors to go to stores within a day.
How does it reflect on your business?
Positive experience more likely makes a customer return to your business. 73% of consumers say positive reviews make them trust businesses more. Not to mention the impact it has on new ones.
Reviews sway customers like never before. Do not fall behind the competition by taking advantage of this feedback.
Instant cash loans in Australia
Instant cash loans for businesses in Australia are great for you if:
- you’re running a small business or a startup
- you need the money quickly
- you don’t own any assets for collateral
- you don’t like to offer up security.
Cigno Business Solutions is accommodating to all applicants. It’s an easy process as it’s done online.
What you’ll need for the application are:
- some contact details
- a 90-day bank statement for your business
- and a registered ABN.
You’ll receive the funds within 2 hours once your application has been approved.
