How Your Online Reputation Impacts Sales
Updated: Feb 7, 2022
Does your Online Reputation have a major impact on your sales?
Every business should prioritise Reputation Management. Business is now pretty much online activity, so you must have an excellent Reputation Management strategy to maintain influence and to ensure your business is seen favourably by your prospective customers.
It’s essential to remember though that just having a negative review does not necessarily imply your reputation is ruined. You may be surprised by how much a balanced online reputation will help your business.
According to independent research, YESpbm can confirm that just one negative review can cost you up to 30 paying customers.
The following are a few ways to protect your online reputation while saving your business from these costly reputation issues.
In business, good news travels fast and bad news seems to travel faster. Word-of-mouth can spread like wildfire and can make or break a business. Your online reputation is valuable, and companies should make it a top priority.
YESpbm can reveal that according to studies, 92% of consumers read online reviews to learn about a business.
The impact that your Personal Brand Management, and your customer reviews, has on your company will have big consequences in terms of how you increase your revenue, or grow your business.
Moreover, 91% of consumers conduct online research on businesses. That means 9 out of 10 potential customers will find you online, long before you get to meet them!
Fortunately, it does not stop with online review sites. Around 80% of consumers get advice on products from social media. So, if you are not already on Twitter, Facebook, LinkedIn, and other social media platforms, you may be missing out.
According to a research, 39% of Facebook users like brand pages, so they can research the products. So, if you have a page on Facebook, you can be sure your followers will review your products and services when they would like to buy from you.
Besides that, 40% of customers form an opinion about a business after reading 1 to 3 reviews. That is also the number of reviews shown as a sample on several websites.
In addition, 43% of customers check a company's rating at least once a month. That means your reputation is essential not only to active customers but also to existing and future buyers.
Following that, 67% of customers won't buy from a business if they have 1-3 bad reviews. As a result, even one negative review can drastically affect the number of sales you gain at any given time.
According to 80% of users, online ratings have also influenced their purchasing decisions. It is unclear if those changes are positive or negative, although clearly, ratings influence consumers' decisions.
It’s undeniable; the internet has become a vital business tool for companies in recent times, but it can also be a double-edged sword.
The most critical thing is to consider how your business portrays itself online. Consider what you share on your social media pages, how you interact with customers online, and the overall message you want to give to the consumers.
Do you want to discover more about Online Reputation Management also known as ORM?
Are you interested to know more secrets about how to boost your Online Reputation?
Connect now with YESpbm to learn if you’re already missing out on business with our free reputation report. Reach out to us for a FREE and confidential consultation.