Online reviews: the power they really have and how to read them
The negative online reviews are considered as the biggest threat to a business reputation, according to a 2021 report published by Igniyte, a big UK online reputation management consultancy, based on a sample of 500 companies.
According to the report, 84% of the managers said that online reviews are important to the financial and reputation state of their business and 71% considered social posts the most damaging online content. Despite that:
- Only 52% of managers are actively dealing/responding to their online reviews.
- 48% felt an impact on a company’s reputation and their sales/business according to those who have received negative online content.
- 39% of managers said their business has been affected by fake reviews in the last year, but 68% are worried about fake reviews.
Among the factors that can hurt a company’s reputation, the negative reviews (30%) and the online crisis (20%) are considered by far the biggest threats (17% offline crisis, 15% other business undercutting, 12% incident with employee/board member).
The impact of the reviews from a consumer perspective on the other hand, according to data from invespcro.com:
- On average, 90% of people check reviews online before buying a product or service
- 88% trust online reviews as much as personal recommendations
- 86% will hesitate using a company that has negative reviews
- 72% will only complete the purchase once after consulting from 3 to 7 positive reviews
- 56% of the consumers will read 2 to 6 reviews before deciding to make a purchase
Undoubtedly, reviews are a powerful tool both for companies to manage their reputation and increase their footprint, as well as for consumers and customers to be able to make an educated decision without being misled by a bad company or a fake review – but one has to be able to read through them.
As a consumer, after reading the reviews, one has to also pay attention to how the company responded: that is paramount in understanding whether the review was fake or not, if the company has made an honest mistake, or they aggressively dismiss comments that touch upon their way of doing business in general. What to look out for?
- Has the company answered promptly?
- Did they correct something as inaccurate?
- Was their tone of voice polite and professional, despite the negative review?
- Were they open in admitting a mistake and offering restitution?
Mistakes always happen, fake reviews are a reality: how companies respond to them is the best guide for customers on whether they are trustworthy or not.
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