What’s the most important part of running a successful business? Most business owners would be inclined to say something along the lines of “providing an excellent product or service” or “providing better value than the competitor.” For many years, this was a sound philosophy: produce a great product or service, get the word out, and then watch as business grows naturally.
Things have changed. Providing a valuable good or service is still the cornerstone of a successful business. Companies rarely survive long if their goods fall apart or employees provide poor customer service. But having a great product or service is no longer sufficient on its own to ensure ongoing success. Negative online reviews can topple great businesses.
Online reviews have become a key source of information about local businesses. A recent survey revealed that 88 percent of consumers in the United States and Canada read online reviews and trust them as much as personal recommendations.
Unfortunately, consumers rely on them without taking the time to question whether they’re true. Worse, the number of reviews that consumers read before making a decision has been trending downward. Currently, most people read less than 10 reviews before they reach a conclusion about a business and 70 percent read no more than six reviews.
Even a single negative review in a small pool of reviews can cause a potential customer to rule out a business. For example, if someone looking for a hotel comes across a review that characterizes the hotel rooms as old, musty, and damp, the person often removes that hotel from consideration. The person won’t even consult friends who may have stayed at the hotel. He or she will simply rule it out. Perhaps this is something you have done.
Many great businesses suffer because they’re so focused on running their business that they neglect to monitor and manage their online reviews. Net Reputation provides solutions. Among other services, we can remove or minimize the impact of negative business reviews so that business owners can continue to focus on running their business.