Business has changed considerably over the past several years, and this has been largely because of growing technology. Lightning fast communications and far-reaching networks have helped companies everywhere advance and streamline their services, but technology has also had important implications for the customer. Customers everywhere have a voice that they’ve never had before, and that voice is growing louder every day. Online reviews are the modern customer’s way to express their opinions, good or bad, about every business they patronize. What you may not know is that those reviews can cost your business quite a bit.
Many business owners are quick to dismiss a negative review on a website like Yelp. They understand that you can’t please all the people all the time, and some customers may not be satisfied with even the highest quality service. If this sounds like your attitude regarding online reviews, you’re underestimating the power of this platform. Review networks are not just places for disgruntled customers to air their frustrations and play the role of critic. In fact, those reviews are a significant factor in determining whether or not a new customer will ever try your business. Studies indicate that as much as 83% of customers are influenced by online reviews.