Laura’s note: The topic of online reviews will be explored in a series of upcoming blogs.. It is recommended that you read them in order, but who I’m I to say anything to anyone about skimming and jumping ahead? It’s just imperative that you understand the world of online reviews and why it is so important.
“Word of Mouth”
“If you can’t say something nice, say nothing at all. “Disney’s Thumper was right. This is a good rule to live by, but do we?
We’ve all experienced great customer service. We’ve also received poor or less than stellar customer service. For those of us that own or manage a business, we’ve had great customers and not so great customers. The reality is, either way, YOU HAVE A CUSTOMER! How do you keep them all and attach new ones?
Since the beginning of commerce itself, “word of mouth” has always been a key element of business growth. It’s simple, one customer tells one person and that person tells two people and those two people tell two people and so on. If what is spreading is positive, you have a greater chance of attracting at least a percentage of these individuals. Great, right?
Well, what if that “word of mouth” is negative? We all know that bad news spreads wider and faster than good news, it’s just basic human nature. Now imagine that person doesn’t just tell one person about their experience, but hundreds, maybe thousands of people at the same time? Then imagine that multiplying as those people tell hundreds and thousands.
It may seem silly that I am pointing out the obvious, that the internet has placed the simple concept of “word of mouth” onto a whole new level. Remember that saying about bad news vs good news? It holds true, especially on the world wide web.
Here are some surprising stats about online reviews:
92% of consumers now read online reviews.
40% of consumers form an opinion based on just one to three reviews
44% say a review must be written within one month to be relevant
51% of consumers will select a local business if it has positive reviews
48% will visit a company’s website after reading positive reviews
23% will visit the business premises directly after reading positive reviews
88% of consumers form an opinion by reading up to ten reviews
68% of consumers trust reviews more when they see both good and bad scores
30% of consumers assume online reviews are fake if there are no negative reviews
#1 factor used by individuals to judge a business, is the star rating
14% of consumers, (yes! Only 14%) consider using a business with a one or two star rating
26,380 reviews are posted every minute by Yelp users
“Word of Mouth” is still a very important part of your marketing.
3 online platforms that are dedicated to reviews with the most global traffic: Yelp, Tripadvisor, and Foursquare
Word of mouth is still the most popular method of recommendation for consumers.
95% of unhappy customers return to a business, If a business resolves its issue quickly and efficiently,
So you can see by these stats just how important your online reputation is. So what are the current abilities of leading AI social media management programs?
Read the next series blog: How can AI help insure your online reputation?