In 2018, online holiday shopping sales are expected to top $123.4 billion. This staggering number is a clear indicator that online shopping is not just a trend, but a way of life that’s here to stay.
It’s also a signal to brands that, now more than ever, consumers are googling them. And we all know how Google works: right below your brand’s website, or perhaps even buried within it, will be dozens of customer reviews. In a dream world, all of these online reviews would be positive, glowing ones, but the reality is that there’s a chance there will be some negative reviews and unsatisfied customers.
Negative reviews are nothing to panic over. They happen to the best of us. But ignoring your online reputation can be something to panic over, and it can end up costing you in revenue loss and customer retention.
According to a survey conducted by HubSpot, 90% of searchers haven’t made up their mind about a brand before starting their search. This can be an encouraging statistic to brands that have invested in their online reputation management and can be a great opportunity to win customers and gain trust. Happy customers mean more customers and that equates to increased sales dollars.
But for brands who haven’t properly managed their online reputation, this statistic should be chilling. According to Inc., it takes 40 positive customer experiences to undo the damage of a single negative review. That means the potential for dollar loss via lost sales is huge.
Not convinced yet? According to Moz, having four or more negative articles or reviews about your brand pop up in the Google search results can cost you 70% of potential new customers.
Every unaddressed negative review will cost you sales dollars as well as potential customers. Unchecked, this can become a spiral that’s almost impossible to get out of. But managing your online reputation, and addressing the negative reviews rather than brushing them under the rug, can put an end to all of that loss.
If you feel like you have no idea where to start, or how to even begin managing your online reputation, don’t stress. You’re definitely not alone. Plenty of brands have a strong desire to manage their online reviews and reputation, but no idea where to start. Which is where ConsumerAffairs for Brands comes in!
ConsumerAffairs for Brands is the leading expert in brand, reputation and review management. If you’re interested in stepping up your online reputation or who have let negative reviews impact sales for too long, schedule a free demo to see how the ConsumerAffairs for Brands App can help make it easy to stay on top of your online reputation. Gain the knowledge and tools necessary to make your company stand out above the rest, and ensure that not a single dollar of those holiday sales are lost this year!