86% of customers would pay more for the services of a business with better reviews
As online marketing continually evolves, changes and changes, one thing remains clear; reputation is a decisive factor in buyers’ purchasing decisions.
In the age of the Internet, online reputation management has become crucial for any brand. 86% of people would pay more for the services of a company with higher ratings and reviews, therefore a favorable reputation undoubtedly attracts more customers. Any brand that strives to grow must be aware of its public image, as it can make it or break it. A good reputation online is a great way to build a relationship with prospects and customers. Online presence statistics show that 81% of 18-34 year olds trust buyer reviews they find on online business directories. Word of mouth was the most popular way to find a reliable business in the past, but nowadays people rely more on online reviews because it helps them understand what to expect as as potential customers of a business.
Why is online reputation management important for businesses in 2021?
The growth of social media platforms has made it easier for consumers to learn about businesses. People read an average of 10 reviews on a business directory before trusting a brand. The more positive the reviews, the more impressed they are with a business. Online reputation management allows businesses to regularly monitor their reputation. As online content continuously evolves, it is crucial for businesses to identify what is being said about them in order to improve if their customers perceive them negatively. 97% of customers read companies’ responses to comments. The behavior of brands towards their audience is essential to build a good reputation.
Online reputation management builds trust and credibility
A positive online presence lets the audience know that the brand is trusted and credible. This shows them that he is engaged with his customers and transparent about his products and operations. 64% of buyers believe that a good reputation can motivate them to buy a product, but trusting the supplier is vital to becoming a loyal customer. Everything they read about a business online can influence their buying decision.
Reputation management statistics show people would spend 31% more money on a business with great reviews. When they put their money in and trust a brand, they expect top notch service. The average number of stars between 4.2 and 4.5 is ideal for the average buyer. They somewhat find a less trustworthy starting score of 5 because they realize that not all buyers have the same expectations for a product. A negative review can provide more information about a product or brand than any other positive review.
The importance of online reputation management has never been more pressing. All businesses that want to improve customer loyalty should stay on top of online reviews. They must respond to customer complaints and build a relationship with their customers. The way their customers experience their services and products can be their biggest barrier or most important benefit to being successful.