We all know how fast the Internet is when we send an email or post a comment online. The speed of the Internet can benefit companies but also harm them. Why? Both positive and negative reviews about your business can spread quicker than you can say, “reputation management.” Does your company have a reputation management plan in place to handle the buzz surrounding your business? What do the latest studies reveal about consumer attitudes toward online reviews and how these reviews affect purchasing decisions? Read on…
1) According to an August 2010 survey performed by Keller Fay Group, 66% of U.S. consumers said positive reviews were more trustworthy compared to 48% who said negative reviews were more believable (eMarketer).
2) Nevertheless, a 2011 survey from Cone presented a slightly different picture. Although positive comments or reviews still reinforced a purchasing decision (87%), over negative comments or reviews (80%), the overall influence of negative comments or reviews has amplified since last year (2010). Specifically, the influence went up by 12%, whereas the influence of positive information went up just 7%.
3) Compared to 2010, consumers are spending more time doing a variety of online research before they buy a product/service:
Remember, you cannot please every single customer. There is always going to be some kind of negative press somewhere. Look at the large multinational companies, for example. Although they have been in business for many years, you will still find negative reviews about them online. What you can do is maintain an online reputation management plan so the negative does not outweigh the positive.
With these research findings, I hope your online reputation means even more to you than ever before. I will leave you with a memorable quote from an American Indian Proverb:
“We will be known forever by the tracks we leave.”
ReachCast is ReachLocal's award winning solution for business owners who wish to outsource their web presence optimization (Search Engine Optimization, Social Media and Reputation Management rolled into one) to trained experts in the field of Internet Marketing. And here is the ReachCast infosheet.
How do these findings impact your business? Does your company have a reputation management plan for both online and offline, or is it kept separate?
About Alan Moore: Alan is an Internet Marketing Consultant with ReachLocal Baltimore. His mission is to help you increase your revenues and decrease unproductive advertising expenses through proven, online marketing strategies. He manages over $1.2 million in yearly marketing budgets and has worked with local businesses, agencies and the US government. Give him a call at (877)655-3438 to schedule a free consultation.
For more information, check out http://www.emarketer.com/Article.aspx?R=1008614