When it comes to running any kind of business, what people are saying about you really matters. In this modern day and age where the internet has ended up becoming such a big part of our lives, it is important to realize that online reviews are undoubtedly going to be a big part of the way you operate your business. A lot of business owners don’t think that online reviews matter all that much but the truth of the situation is that they do matter quite a bit, and a recent survey indicates that they are way more important than you might initially be thinking.
This new survey has indicated that all businesses are impacted by online reviews. Newer businesses might suffer a bit more because of the fact that older businesses have their reputation that they can rely on, but the difference isn’t enough to make older businesses feel like they can do whatever they want. Negative reviews negatively impact newer businesses 100% of the time and older businesses 97% of the time so the difference really isn’t all that much if you think about it.
Younger people tend to be more forgiving if a negative review is not addressed, but over half of them would stop using a business’s products and services if a bad review is not addressed at least in some small way, shape or form. However, for people in their 30s the number is much higher at 61%, and it is as high as 75% for people in their 40s.
Positive reviews are also important. About 97% of the time, a positive review resulted in positive returns for the business in question. Hence, focusing on maximizing reviews is the sort of thing that you should definitely think about if you are responsible for running some kind of business enterprise.
With all of that having been said and out of the way, it is important to note that there is a way for you to make bad reviews hurt less and that is by reaching out. 33% of respondents in their 20s would improve a negative review if the problem is addressed and 27% would remove the review entirely so there is clearly something that can be gained from at the very least acknowledging the mistake that you have made and ensuring your customer that nothing like this would happen in the future.
Check out these infographics for more insights:
Charts courtesy of: Zenbusiness.
Read next: Study Reveals Marketers Rely Heavily on Video Ads to Drive Downloads
This new survey has indicated that all businesses are impacted by online reviews. Newer businesses might suffer a bit more because of the fact that older businesses have their reputation that they can rely on, but the difference isn’t enough to make older businesses feel like they can do whatever they want. Negative reviews negatively impact newer businesses 100% of the time and older businesses 97% of the time so the difference really isn’t all that much if you think about it.
Younger people tend to be more forgiving if a negative review is not addressed, but over half of them would stop using a business’s products and services if a bad review is not addressed at least in some small way, shape or form. However, for people in their 30s the number is much higher at 61%, and it is as high as 75% for people in their 40s.
Positive reviews are also important. About 97% of the time, a positive review resulted in positive returns for the business in question. Hence, focusing on maximizing reviews is the sort of thing that you should definitely think about if you are responsible for running some kind of business enterprise.
With all of that having been said and out of the way, it is important to note that there is a way for you to make bad reviews hurt less and that is by reaching out. 33% of respondents in their 20s would improve a negative review if the problem is addressed and 27% would remove the review entirely so there is clearly something that can be gained from at the very least acknowledging the mistake that you have made and ensuring your customer that nothing like this would happen in the future.
Check out these infographics for more insights:
Charts courtesy of: Zenbusiness.
Read next: Study Reveals Marketers Rely Heavily on Video Ads to Drive Downloads
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