How Negative Reviews Affect Businesses


How Negative Reviews Affect Businesses

You may have heard the expression that any press is good press. But that’s simply not true in today’s economy. Every day, men, women, and children rely on consumer feedback before they commit to buying goods or services. In fact, an estimated 80% of shoppers depend on online reviews. Whether you are a doctor, lawyer, exterminator, real estate broker, auto mechanic, or just about any other business professional, bad feedback can take money right out of your pocket. Do not underestimate the power of negative feedback on a business.

Think about it, when you want to check out a new Italian restaurant, you probably search for it on the web. There is no question that the world wide web has grown into the most popular source of consumer information. Perhaps you’ll look for the restaurant’s website, as well as its Facebook page, to see photos and check the prices. But as far as feedback, you probably won’t take the time to do more than check how many stars it was awarded by a local website and read a review or two on your smartphone. Within minutes, or even seconds, you will form your opinion about that restaurant and decide if it is worth your time and money.

Many executives believe that there is no such thing as bad feedback, as all exposure, especially free exposure, is good for business. Unfortunately, that is just not the case. Bad feedback can harm a business’s stature and dependability, as well as profits.

Then there are businessmen and women who take unfavorable reviews to heart, believing a consumer’s negative opinion reflects poorly on his or her business. As long as it is well crafted with thought, color, and a personal touch, an online review is trustworthy to strangers, as well as to regular viewers of a blog.

A study reported that one negative review may stop a large portion, roughly 60% of potential customers, from dealing with a particular business. One negative review may cost businesses dozens of customers. Businesses that possess no reviews whatsoever are not reliable either, as they have not built a customer base. Think of buying a used stereo from a company on the internet. Would you trust Joe’s Electronics that went into business this week? Zero reviews are equivalent to no references. It is not worth the risk.

Just look at Yelp which has more than 200 million visitors a month. Some of these people are looking for goods and services just like yours. Even if the information doesn’t matter to you, it matters to too many consumers to ignore. Do you want to be passed over because your competition has a better score?

Maybe it was left by a disgruntled customer, a former employee with a grudge, a jealous competitor, or even an ex-girlfriend. Whatever the case may be, negative feedback online can have a bad effect on your business. That’s why you need online reputation management to hide all the bad things people have said. Rather, show the public one positive review after another. Your business will look better than ever to anyone searching the internet.

When you are ready to put the past behind you and get your business reputation online to thrive, Icon Reputation Management always takes care of business. Visit us online, or call today at 800.558.1017.