Tuesday, March 17, 2015

The Importance of Online Reputation Management (Part 2 of 3)

The Importance of Online Reputation Management - Statistically Speaking

These statistics will hopefully help you understand why you need online reputation management regardless of your current online status, whether it be good or bad.

The biggest one is definitely the fact that 75% of consumers look online for reviews before doing business with a certain company. These consumers trust what their peers have to say, therefore when they see a review, whether it be good or bad, it will influence their purchasing decision in some way.

This means that you want to make sure that all of your happy customers are leaving you reviews on a constant basis. You want to incentivize these reviews if you have to by either giving away a discount or even a free t-shirt in return for the customer leaving you a review. Trust me, these reviews can potentially be worth a lot more than a t-shirt is!

Now, over the last year, traffic to the major review sites has increased by over 100%. This means that people are turning to these review sites more than ever, and that percentage is going to be on the rise. So you want to make sure that you take care of things now before it is too late.

The Wall Street Journal even said that 92% of consumers have more confidence in information that they found online than hearing it from a salesperson or any other source of information.

Let’s look at a few more statistics:
  • 97% of people who made a purchase based off of a review that they saw found the review to be correct! This makes people trust review sites even more. (ComScore)
  • 50% of consumers use the internet before they even take a trip to the establishment. (Verdict Research)
  • 61% of people rely on their peer’s reviews for information on products or brands that they are interested in before making their final buying decision. (RazorFish)
  • 75% of people do not believe what companies have to say in their advertisements! (Yankelovich)

As you can see, these statistics speak for themselves. You need to make sure that your reputation is up to par, as this is the “norm” of the 21st century. If you don’t stay on top of things you could be digging your own business’ grave without even knowing.



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