16 Feb Top 3 Reasons You Need to Monitor Review Websites
Many businesses are affected by review-based websites. Sites such as Yelp, Trip Advisor, and Urban Spoon can greatly affect the likelihood of a customer walking through your doors, or through your direct competitors. Your reputation on these websites can be more effective than recommendations made by friends and family members.
Here are the Top 3 Reasons You Need to Monitor Review Sites:
1.Each rating star added on a Yelp review translates to a 5-9% increase on revenues.
The Harvard Business School conducted a study that found each star added on Yelp equated to a 5-9% increase in revenue. This could lead to a huge difference in your bottom line! Moreover, at the University of California at Berkeley, a study of 300 San Francisco restaurants found that even an increase in a restaurant’s rating by half a star could make the difference between a full house at dinnertime or scattered customers.
2. 88% of consumers trust online reviews as much as personal recommendations.
If you’re not concerned about those negative reviews being left for your business, you need to be. It is important to remember that the internet has changed the business climate and users are willing to trust reviews made by strangers. Moreover, responding both to positive and negative reviews shows that you have interest in these reviews and are concerned with customer opinions.
3. Over 60% of users claim that seeing a management response to a review makes them more likely to return.
Responding to reviews both positive and negative is hugely important. Users enjoy this extra layer of interaction with businesses. Moreover, a negative review can quickly turn into a positive one with the proper response. It is important to remember that this is an opportunity not only to change the rating but potentially receive a repeat customer.
The bottom line? Review sites are massively important to the success of your business. It is important not only to manage these review websites but also provide proper responses both to positive and negative reviews.