How can a Small Business Make money from Customer Reviews?

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Word-of-mouth marketing has changed completely for the small, local business. In the past, if someone had a bad experience, it can reach a few their own friends. In today’s world, with the ease of online review sites, social media, and blogging, a nasty customer experience can reach hundreds or even lots of people. This revolution has caught many owners off guard and are generally scrambling to figure out how to manage and improve their online track record. Many are hoping that Yelp will fail and online reviews is going away, but with Yelp’s recent influx of $100 million in capital, they’re going to double in size. Furthermore, AT&T will be launching a new review site, buzz.com. Customer content is exploding even more simply because the penetration of mobile devices makes it very simple to rave or rant today it happens. Customers are posting about their experience before they even obtain the check! Here’s a great example:

I don’t know how I feel about paying $3.50 for a plain crepe. That’s right. ONE. PLAIN. CREPE. $3.50!?! Anyways, I’m here at this time waiting for my two crepes, starving and kind of still thinking which paid too much for a crepe. It better be really really good. Waiting. Still waiting and there’s only two other people here. Hungry. Choosing. I’m not exactly impressed or satisfied right now. I would have just been down the street to Osha and gotten real food. Received one plain crepe and a turkey and cheese crepe. Nothing special about the subject at all. This is a waste. I’m for you to cry one tear for my unsatisfied agony right at this instant.

(Additional information: small restaurant with about 5 tables, in the decent neighborhood through having an American Apparel under the street, has gelato, and accepts Visa and MC.)

The impact of reviews is very broad as so. 84% of Americans say online customer evaluations have an influence on their decision to get yourself a product or program. (Opinion Research Corporation, 2009). You can no longer avoid monitoring facebook reviews. In addition, if you’re business only has several reviews, even frauds all positive, you’re at an extreme risk. Just one bad review (1 star) can have an immediate impact on your private overall rating and reputation. Therefore, you should work on a company or store wide campaign to generate reviews. There are a few other great answer why reviews can benefit you:

What many business people don’t realize will be reviews have shown to actually increase profits and drive new business. Businesses with great reviews and online reputations use this as a competitive advantage over others in their place. Consumer research from the Kelsey Group reported, “Consumers wish to pay at least 20% more for offline services that received an “Excellent” or 5-star rating than for aren’t service when it received a “Good” or 4-star rating, the study found. More importantly, merchants are seeing could be on their finally. Of the 30 percent of small business retailers who had integrated product reviews their own Web sites, 43 percent said reviews had resulted much more sales, while 28 percent indicated reviews had resulted in many traffic. (Ratepoint, Nov 2009).

In addition, positive reviews can also help drive profits through search engine optimization and may impact your rankings on local search and general search data. For local search and mapping sites from Google, Bing, and Yahoo, the search are aggregating reviews from websites and use both quantity and quality (overall rating) his or her ranking algorithms. It helps to get great reviews across numerous sites as great. For sites like Yelp and Citysearch, review quality and quantity are quite strong influences on determining rankings. Reviews may even benefit you on general search engine rankings. The more review sites possess been content about little (and links to your site), the more this provides validation and “trust” coming from a search engine’s outlook.

Review management important for success for local businesses. The chatmeter is made to help you manage and monitor your reviews and time savings from visiting over everything these sites looking for your reviews.

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