How can a Small Business Make money from Customer Reviews?

Word-of-mouth marketing has changed completely for the small, local business. In the past, if someone a new bad experience, it may only reach a few of their 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 many people. This revolution has caught many owners off guard and should be scrambling to figure out how to manage and improve their online popularity. Many are hoping that Yelp will fail and online reviews could go away, but with Yelp’s recent influx of $100 million in capital, they are going to double in size. Furthermore, AT&T will be launching a new review site, buzz.com. Customer content is exploding even more as the penetration of mobile devices makes it very in order to rave or rant at present it happens. Customers are posting about their experience before they even obtain the check! Here’s a great example:

I don’t precisely how I feel about paying $3.50 to have a plain crepe. Correct. ONE. PLAIN. CREPE. $3.50!?! Anyways, I’m here currently waiting for my two crepes, starving and kind of still thinking i paid too much for a crepe. It better be really really professional. Waiting. Still waiting and there’s only two other people here. Hungry. Eating. I’m not exactly impressed or satisfied right now. I should have just gone down the street to Osha and gotten real food. I got one plain crepe and a turkey and cheese crepe. Nothing special about them at all. What a waste. I’m going to cry one tear for my unsatisfied agony right without hesitation.

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

The impact of reviews is very broad as well. 84% of Americans say online customer evaluations have an influence on their decision to it’s product or service provider. (Opinion Research Corporation, 2009). You can no longer avoid monitoring facebook reviews. In addition, if you’re business only has several reviews, even if they’re scams all positive, you might be at an extreme risk. Just one bad review (1 star) can the immediate impact relating to your overall rating and reputation. Therefore, you should work on a business or store wide campaign to generate reviews. There are several other great main reasons why reviews can benefit you:

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

In addition, reviews that are positive can also help drive profits through search engine optimization and may impact your rankings on local search and general search findings. 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) involving their ranking algorithms. And also ward off to get great reviews across quite a few sites as definitely. For sites like Yelp and Citysearch, review quality and quantity are very secure influences on determining rankings. Reviews benefit you on general search engine rankings. The more review sites that have content about on the web (and links towards site), the more this provides validation and “trust” by way of the search engine’s prospective.

Review management important for success for local businesses. The chatmeter is designed to help you manage and monitor your reviews and save your time from visiting over everything these sites trying to find your reviews.

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