There are two types of business owners.
Some business owners receive a two-star review and scoffs. They are secure in the knowledge that they have a solid staff, are still making plenty of customers happy, and had a great sales week. They don’t bother posting a reply to the negative reviewer, convinced that Yelp is just a personal soapbox for anyone to abuse.
Other business owners receive a two-star review and can’t stop thinking about it. They know the staff works hard, but hates to see their dealership name tarnished in a place where hundreds of users can see. These owners fall asleep as two-star reviews float above their heads like sheep.
Ultimately, it’s the second type that will understand how reviews affect the bottom line. If you fall into the first category, we need to lay some truths on you. As they say, hell hath no fury like a customer scorned.
Key stats you need to know:
- On average, a one-star increase on Yelp leads to a 5-9 percent increase in revenue while one negative review can cost up to thirty customers.
- 8 in 10 people trust an online review just as much as they trust a personal recommendation.
- 86% of potential customers will not purchase products or services from a business with negative reviews.
Are you experiencing the chills yet? The social landscape presented above identifies just how easily negative reviews can affect your bottom line.
By utilizing solutions like Catalyst and our Reputation Engagement Suite, you hold the tools in the palm of your hand to receive more positive reviews, and decrease the likelihood of a consumer ever hesitating to visit your business.