We live in a world where a brand’s online reputation can be its most valuable asset or its great liability. Web-users and customers markedly refer to reviews on the web before making any decision. So, it becomes quite important to be aware of your brand’s online footprint; but if you are still thinking about whether to approach an online review management platform or not, these important statistics might help:
- More than 85% of web users read online reviews before investing their time and money into a business. This simply means that online reviews can prosper or wither a brand’s business. In fact, it is also established that many users will not associate with a company if they find even a single negative review about the brand.
- Nearly 65% of purchasing decisions are influenced by online reviews. Notable sales are unquestionably the primary aim of a company. In order to meet a good trade, it becomes important to have a significant number of positive reviews online.
- About 85% of buyers no longer trust advertisements but trust online reviews for selecting products. A company may spend a good amount of its capital on catchy advertisements but merely advertising may not help a company to gain customers. Management of online reviews is also an imperative measure to acquire a following.
- Every one-star increase in a company’s Google rating increases its revenue by 5-9 %. An admirable online reputation is a pathway for potential customers in deciding to buy a company’s products. Thus, Google ratings highly influence a brand’s sales and thereby its revenue!
- Nearly 25% of digital marketers experienced a commendable growth in their business sales when they adopted online review management. Online review management platforms proactively manage the positive and negative reviews associated with your brand. This can even eliminate negative reviews, giving a boost to the business sales.
- 58% of Fortune 500 executives believe reputation management should be a core part of every organization’s marketing and branding strategy. A proactive review management strategy holds a good scope for augmenting your business. Hence, it becomes necessary to inculcate an effective reputation management approach in every organization’s marketing and branding strategy.
These statistics, we think, might be enough for you to understand the significance of adopting a reputation management strategy for your business. However, if you still have any questions regarding online review management, reach us by clicking here and we’ll do the best that we can for your business!