Why Online Reviews Matter to Businesses

If you have ever read an online review to help you make a purchasing decision, then you know how important they are to consumers today. Which features of the review were most important to you? In a new survey from Chatmeter, 1,400 consumers answered that question.

First and second place in the survey results were both over 60%. The inclusion of specific details in the review (like pricing, options, features, and product quality) was important to 67% of the respondents, while helpful company responses to reviews that clarify questions were important to 60%.

In today’s online world, nine out of ten buyers look at reviews before making a purchase. Additionally, nearly 60% of buyers say they would spend more on products and services from a brand with good reviews. If that isn’t enough to get you excited about earning great reviews, don’t worry, the benefits don’t end there.   

Why Are Positive Online Reviews Important for Businesses?

Positive online reviews are just as crucial for businesses as they are for customers, but for other reasons. Here are some of the top reasons you should strive to get good reviews from your customers:

Increase Brand Exposure

Before we had the Internet, how customers felt about the brands they did business with was spread by word-of-mouth. These days, customers’ compliments and complaints are visible to everyone with a Wi-Fi connection. They can also help with your SEO efforts. Good reviews reflect positively on your business and give you a consistent stream of positive content that search engines value highly when determining with results to provide searchers.

Build Authority

Positive reviews demonstrate your business’ authority about your products and services. The more reputable your brand is, the more authority you will have. When a potential customer views a positive review of your brand and sees that you have successfully helped others overcome the same problems they have, it makes them more likely to believe that you are an authority on the subject.  

Establish Trust

You can establish significant credibility and trust with a consistent stream of recent positive reviews. Many online buyers simply distrust companies that have customer ratings lower than four stars. Unfortunately, that leaves a very small margin for error. However, businesses in the top tiers of ratings, those that have established a high level of trust, are more likely to have views converted to traffic and traffic converted to sales.

Engage with Customers  

Online reviews provide a simple way to interact with your customers where other potential customers can see them. That means your engagement with customers through online reviews must be positive connections showing you value your buyers. It’s easy to build brand loyalty by replying to a customer’s review. Whether you are simply thanking them for their business, acknowledging constructive feedback they’ve offered, or requesting additional feedback, a quick and polite response makes them feel seen and valued.

You can also use online reviews to mitigate poor customer experiences. When responding to negative reviews, there are three things that you should strive to do in your response:

• Be prompt – Respond as soon as you can to keep the situation from escalating. Do your best not to let 24 hours pass from the time the review is posted until you have reached out to the customer.
• Make it public – The negative review is public, and your response should be as well. You have to take ownership of the issue and respond quickly so that others can see it. Not only are you likely to be able to work out something mutually satisfying for you and your customer, but it also allows others to see that you are a conscientious business owner who does all you can to fix errors.
• Be professional – Being online makes it a lot easier to be insulting, argumentative, and rude, but you can’t fall prey to that when responding to negative reviews. Instead, keep your response professional, courteous, and respectful no matter what.

Boost Sales

Ultimately, all of the above will increase your company’s bottom line. Research shows that customers respond favorably to positive reviews, and a business’ willingness to resolve a negative one. After all, people are more likely to buy from you when they can see the quality of the products and services and how you invest in your customers.

Final Thoughts about Online Reviews

Positive online reviews will captivate the attention and interest of potential customers. They help establish trust, build authority, and in the end, boost your brand’s sales. When potential customers trust your company’s online reviews, they are even likely to pay more for your products or services than what your competitors charge. And when it comes to negative reviews, if you take ownership and do what you can to make the situation right, you will likely win your customer’s respect and perhaps even solidify a loyal relationship for the future.