Amazon, Angie’s List, Trustpilot, TripAdvisor, Yelp, Google My Business, Yahoo! Local Listings, Choice, G2 Crowd, TrustRadius, TestFreaks, Which?, Salesforce AppExchange, Glassdoor, Facebook Ratings & Reviews, Twitter, and even your own website are all places to capture and publish reviews. Whether you’re a B2C or B2B company… chances are that there’s someone writing about you online. And those online reviews are having an impact.
What is Reputation Management?
Reputation management is the process of monitoring and managing the reputation of an individual or business online. Originally a public relations term, the advancement of organic search results, social media, and public review sites have made reputation management critical to a company’s sales and marketing efforts.
Reputation monitoring services often alert a company in real-time when poor reviews are submitted online. If properly alerted and responsive, companies can work to remedy the dispute before it’s shared and does even more damage. Likewise, companies can benefit from resolving disputes so that consumers can see the positive response nad care a company wishes to provide its customers.
Key Statistics on Online Reviews
- 71% of consumers agree online reviews make comfortable with their purchase decision Tweet This!.
- 83% of respondents said they’d trust a user’s review over a critic Tweet This!.
- 70% of consumers consult reviews or ratings before purchasing Tweet This!.
- Customer reviews create a 74% increase in product conversions Tweet This!.
- Reviews drive 18% higher loyalty and 21% higher purchase satisfaction Tweet This!.
It’s not all good, though. It’s estimated that 10-15% fo all social media reviews will be fake Tweet This!. Fake reviews have garnered the attention of both government and online retailers. Amazon is suing over a thousand fake product review services.
PeopleClaim.com offers consumers and businesses an opportunity to post a claim and only publicize it when the recipient doesn’t respond nor seek to remedy the situation. No lawyers or mediation necessary. They’ve provided this infographic, The Review of Reviews.
So… the answer is absolutely! You should be monitoring your people, your business, and your products with reputation monitoring platforms to ensure you can respond and maintain a great reputation online.
As consumers increasingly rely on online reviews, businesses that leave their online reputation to chance are at a severe disadvantage versus those with solid Online Reputation Management (ORM) programs in place.