When you have negative reviews about your products, services, or overall business, it turns customers away. It is the opposite of having positive reviews that earn you more customers. It is as simple as that. In today’s world, people do everything online, from searching for products and services to making decisions on whether to trust your brand or not. Consumers will compare brands, products, and check product reviews before making a purchase, whether big or small. And with all the competitors in the market, it is upon you to ensure your brand is reputable if you want your business to grow.
Positive online reviews are beneficial since they enhance your business reputation, boost sales, increase your credibility, improve your ranking on the search engine, and generally grow your business. On the other hand, negative reviews have detrimental impacts on your business.
Negative reviews are a turn off to customers.
Negative reviews turn off customers no matter how appealing your products appear on the internet. Instead, they drive customers away to your competitors. According to research, negative reviews about your business can drive away 22% of your potential customers. For instance, three negative reviews put off customers by 59.2%, while four of them can amount to a 70% loss in customers. The pattern heightens with an increase in negative reviews.
Undermines your business reputation
It takes years to build your business reputation, but it takes a single negative review to damage that. Negative reviews reduce the trust people have in your business. Many consumers will not purchase from a store with a bad reputation. The good news is, a business online reputation manager can help you manage your business reputation to gain your customers’ trust back.
Loss of revenue
Your business reputation affects the bottom line of its performance. When you have positive reviews, customers trust your brand and buy more. On the other hand, Forbes says that 94% of consumers would rather avoid purchasing from a site with negative reviews, which reduces your revenue returns.
Lower-ranking on the search engine
Google focuses on providing the most relevant results based on the internet reviews when a user types something. If your brand or website has more negative reviews, it will rank lower on the search engine. Since Google is all about providing users with the best experiences, your site may remain lower on the search engine until you effectively address your business’s negative reviews. If you rank higher on the search engine, people trust your website and are more likely to buy from you.
Reduces your profitability
Negative reviews affect the overall profitability of your business. Since they drive customers away, sales remain low, consequently affecting your annual revenue. Again, there is also a cost of rectifying your tarnished image and which takes some time.
Negative reviews heavily impact the bottom line of your business. However, having one or two negative reviews on your review platform may be a good thing for your business. Consumers are always skeptical about a website that has all positive reviews. However, you must address the negative reviews most effectively. A business mistake is ignoring negative reviews, which does not sit well with customers. Ensure you have an effective strategy for effectively addressing negative reviews, for instance, responding promptly, apologetically, and promising to fix the issue in the best way possible.