Customer reviews, both positive and negative, directly impact the Business. These may be comments, video reviews, or photos shared across various platforms. Even word of mouth is a review that reaches a person’s ear directly from another.
Online reviews are currently on the rising trend. With numerous social media platforms and businesses trying to sell their products online, it is easier to find a wide range of reviews online.
As a result, customers always look for online reviews before purchasing.
According to Marketing company Invesp, the reason a person goes online to read reviews might differ.
- Trustable – 88% of online consumers trusted what they read online
- Positive reviews bring better revenue – Businesses with good reviews see 31% more sales by consumers
- Vice versa of the above point – Almost 86% of consumers do not buy from businesses with bad reviews (reputationx.com)
Positive Customer Reviews and their Role in a Business
A positive review is any comment in praise of your product or service. Therefore, these comments are precious.
These good comments drive more customers to your Business, and as a consequence, profits increase. Also, customer engagement increases because of these positive reviews. The likes and dislikes of a product or service that a business offers are better understood.
Lastly, the trust between a consumer and a company grows and proves beneficial in the long run.
Negative Customer Reviews and their Role in a Business
Negative Reviews are like weeds. They come from anywhere and spoil the overall growth. These reviews leave a damaging effect on the Business.
Customers stay away. Profits decline. Revenue dip is seen.
So, companies should take the proper measures to tackle these negative reviews. They should see this as an opportunity for growth. The businesses should analyze the reviews on a more serious note and figure out the room for development.
Flaws and errors could be corrected and meet customers’ expectations.
Response from the business owner to the negative comments is significant. If not for all the negative reviews, serious concerns matter. One has to be professional and respond respectfully.
In all honesty, with customers being the epicenter of a company’s rise and fall, it only makes sense that customer reviews are given the due consideration that they deserve. Companies should put in the necessary efforts to make opinions a tool to grow and succeed.
Also,download the Review It app from PlayStore and AppStore.
