With the vast majority of the world becoming more and more digital and available online, there is so much opportunity for business growth and expansion that it’s almost dizzying. There are new areas of customers, there is no open or close time as your site can be online and selling your products or services for you 24/7. Internet marketing and proper online branding can place you and your business in the position to experience massive growth in business and in connections, all the way from the local sector to the global one.
But there is also the other side of the coin, the flip side of the web and it can be a terrible place. Not referencing black hat SEO or any of the under handed tricks that can be used to rank highly or do shady business. I’m speaking about online reviews, and online reputation management – they say that bad news travels faster than good, and that goes ten fold online.
Any business, especially the smaller local ones face high stakes when it comes to online reviews and their online reputation. According to a study conducted last year, approximately 72% of consumers surveyed said they trust online reviews as much as personal recommendations, while 52% said that positive online reviews make them more likely to use a local business. Yelp is one the more well known services which feature reviews of businesses, and businesses are beginning to encourage their visitors to use the service to rate them by offering prizes to verified posters. So where is the driving force behind that decision? A Harvard study conducted in 2011 found that a one-star increase among Yelp reviews of Seattle restaurants led to 5-9% growth in revenue.
Hitting a little closer to home, it was nearly a disastrous year downtown for some businesses as they were built and improved up around the newly returned Winnipeg Jets franchise to town. When the league was locked out and there was no hockey going on, those businesses began to falter. For any one of them to receive a bad review due to poor food, service, attitude, or what have you, it will be the death of their business. Negative reviews can happen, will happen, as not everyone is happy 100% of the time, but there are correct ways to respond, and incorrect ways. We’ll begin to cover that ground tomorrow, as it’s not a short topic.