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Why Reviews Are Important For Small Businesses

Consumer reviews are a goldmine for any small business owner. Research data collected and compiled by Website Builder shows that positive customer feedback can boost your future sales by up to 18%. Consumers are even prompted to spend about 31% more money on a company with top-notch customer reviews. So, it's worth taking more than a simple glance at your online reviews, both the good and the not so good.

Although you may wince when you see a negative comment on Yelp or Facebook, even those lumps of coal can still be polished into glistening nuggets. Don't believe it? We'll show you how you can use consumer reviews to your advantage. If employed properly, your clientele's feedback could help grow your business, improve your products and services, and even assist with your marketing strategies.

Spotlight the areas where you're excelling

Positive consumer reviews work two-fold to help your small business. First, the feedback offers an unbiased snapshot of your company's strengths. Businesses can easily use those strengths as the focal points in future marketing campaigns. If your reviews are raving about a specific aspect of your company, like its customer service or a particular product, that surge of momentum can work to your advantage.

Second, if you're a lesser-known business, glowing reviews can help to increase confidence in your brand. In most cases, customers prefer to avoid making uninformed purchases. If a potential client sees that past clients were thrilled with your company's products and services, they're more likely to invest their money in you.

Identify a product or service's weak spots

In an ideal world, all of your products and services would instantly receive a gold star of approval from everyone. Unfortunately, negative reviews are bound to happen sometimes. Instead of feeling dejected by lackluster feedback, take your client's words to heart and try to resolve the issue in a swift, thorough manner.

To create a thriving company, a loyal customer base is key. Business owners are encouraged to reach out directly to unhappy clients and offer a thoughtful solution to entice them into returning. After all, according to a recent local consumer review survey by BrightLocal, 87% of prospective customers will disregard a business with a poor rating of less than 3-star reviews. Whenever possible, it's vital to turn any disappointed buyers into satisfied customers.

Provide free business marketing

As briefly mentioned on above, a savvy small business owner can transform positive online reviews into winning marketing campaigns. Eloquent clients can do wonders for your website content, your public advertisements, and other promotional material. Aside from sounding great, instilling trust in your audience, and providing impartial feedback, their words are essentially selling your products for you - and for free!

Stay protected against liability claims

Every small business encounters bumps along the road to success. If your online reviews bring any alleged wrongdoings to light, you need to be prepared. A Businessowner's Policy (BOP) can help to protect your company against claims of general liability, product liability, and professional liability. Contact one of our knowledgeable agents today to learn more about the types and amounts of insurance coverage that are available for your small business.

Dig into your online reviews to gain insight into your customer experience and uncover the following kinds of useful information. You may be surprised at what you find!

 

The opinions expressed herein by AmVenture.com columnists are their own, not those of AmVenture Insurance Agency, Inc., its subsidiaries, or affiliates.