For all businesses, there is a huge opportunity to receive online reviews and feedback about products and services. Many businesses already understand the importance of positive experiences and also negative criticism as it gives them the chance to react quickly and turn all customers into long-term, loyal customers.
A recent study undertaken in Boston by the Emerson College School of Communication found that negative reviews by film critics had more of an impact than positive reviews. In fact, these negative reviews hugely affected the overall gross sales more than receiving and showcasing positive reviews.
The study showed that of the 1,100 researched movies, negative reviews did sell to customers but not in a good way. The study indicated that the only thing a negative review does sell is that a product or service is not worth buying.
In 2018, with a continual increase in customers shopping online, online reviews are continuing to become increasingly powerful factors in a customer’s decision-making process. Those businesses who already understand the impact negative reviews have on their own business will continually monitor review websites including Google, Yelp and social media platforms. These businesses will always respond in a timely manner and ensure it is communicated in a way that generates a positive outcome for the customer.
Using Jago and different review platforms, you can ensure you find all negative reviews or comments that are written about your own business. This is greatly important as it takes up to 12 positive experiences to make up for one unresolved negative experience. Further, bad customer service experiences reach more than twice as many people as praise for good customer service experiences.
Online reviews are what speak for your business – usually, before a business can speak for itself. They influence other customers as to whether or not they perceive your business worth the money or not. If you have one to three bad reviews that you have not responded to nor chosen to communicate with to create a solution, you’ll likely lose about 67% of consumers.
If your business ignores negative online reviews, this will have a detrimental impact on your overall results. It will not lead to the growth of your business and it will continue to drive sales down, thus draining your potential profits.
Get Help Managing Reviews Online
If your business needs help to manage online reviews and would like to understand the importance of customer feedback and the impact it has on your bottom-line, make sure you book a demo today. Jago is a simple and cost-effective means of understanding how customers see your business.