Introduction
Today, the online reputation of a business is shaped by the voices of its customers, expressed through online reviews.
According to TechReport, a company’s reputation accounts for 63% of its market value. That means that more than half of the success of a company is based on the way it is perceived by its customers and potential clients.
As businesses are dealing with the difficulties of the ever changing digital world, it’s more important than ever to have a better understanding of review monitoring and how it can shape the future of your brand.
In the following article, you’ll discover why review monitoring plays a huge role in your online reputation and how you can use it as a conversion tool.
Why review monitoring is important for your business
As 90% of consumers report not frequenting a business with a bad reputation, you should start looking more into how to build and maintain a good online brand reputation.
The first thing you should look at is review monitoring, because your online customer feedback is the main voice that drives the way people perceive you on digital platforms.
Do you need guidance on your review monitoring journey? Or you have already started and want to collaborate with a specialist to create a review management strategy fitting for your business needs, contact FeedCheck today.
- Brand integrity. Review monitoring helps you make sure that you’re always up to date with how your online audience views your brand. 87% of consumers report that they will reverse a purchase decision after reading negative news or reviews about a business online, which means that it’s detrimental to maintain a positive online image if you want your sales to keep on thriving.
- Audience engagement. According to Status Labs, roughly 90% of consumers are more likely to frequent a business if the business responds to all reviews, both positive and negative. Use our review monitoring tool to be up to date with how your audience interacts with you on digital platforms and create a loyal community of customers through constant and smart communication with your audience.
- Conversion tool. Review monitoring is excellent for driving conversions, because customers are more inclined to buy from businesses that put effort into their online reputation and image. Manage your customer reviews in the right way and watch your sales increase.
- Customer insights. Review monitoring reveals customer preferences and areas for improvement. FeedCheck offers a special feature for customer sentiment discovery, where you can see a summary of what the customers like and don’t like about your offerings. By taking care of review management, you make sure that your products and services are always up to the customers’ standards, therefore not only that you don’t lose any customers, but you have better chances of gaining new ones.
- Competitor analysis. When looking at your business performance, benchmarking is one of the most important factors you have to consider. See what customers think about you compared to your competitors and how you can differentiate yourself on the market.
Why online reputation management (ORM) is important for your business
According to TechReport, up to 75% of consumers have more trust in brands with positive online reviews.
That makes online reputation one of the top priorities you should take into consideration when planning your business strategy.
- First impression. According to Status Labs, 76% of social media users have purchased something they saw on social media. That means that most customers discover their next purchases on digital platforms, so you need to make sure that your online presence is impeccable and you catch the attention of potential clients in the ocean of businesses that make waves every single day.
- Customer retention. Satisfied customers who see their feedback valued are more likely to remain loyal to the brand.
- Crisis prevention and management. By constantly monitoring your online reputation, you will identify and address issues before they have a chance to escalate. Use a review management tool that best fits your business needs, so you can always be at the top of your game and make sure that you never fall out in front of your audience.
- Brand sustainability. If you engage with your customers and maintain a good online reputation strategy, your audience will view your brand as trustworthy, qualitative and competitive in a digital market where new players enter the game every single day.
Why review monitoring is effective for online reputation management
Review monitoring and ORM go hand in hand when it comes to building your online image.
While ORM includes multiple factors, such as social media presence and press releases, customer feedback remains the backbone of your online brand reputation, because nothing is more important than your customers’ perception of your brand.
- Real-time feedback. By monitoring your online reviews, you get the chance to see how your business is perceived by your customers in real-time. If you have a streak of positive ratings and reviews, you know that you’re on the right track and you should keep going. If you’re starting to receive negative customer feedback, you have the possibility to immediately address and fix the issue or to switch to a new strategy.
- Build credibility. By continually engaging with your customers, you prove that their satisfaction is your #1 priority, which makes your brand look more trustworthy and reliable. To be up to date with your latest online customer feedback, log in to your FeedCheck account and make sure to turn on the alert feature.
- SEO optimization. Online reviews can help you gain more traction on your website by making you more visible on Google. Monitor your reviews and see what your customers are saying about you, so you can observe the trending topics and the most talked about experiences regarding your offerings.
How to conduct an online reputation analysis
To conduct an online reputation analysis with results that are actually relevant to your business, it’s imperative to use a reputation management tool that offers all the features you need. If you don’t use reputation management services yet or you want to change your current provider, don’t hesitate to contact FeedCheck and get a personalized demo.
- Define your goals. What is the scope of this analysis? Do you want to improve customer experience, benchmark against competitors or just gain an overall better online presence? Defining your objectives is a very important first step in online reputation analysis, as it sets the foundation for the entire process.
- Gather data. Choose various sources of information, so you can gain perspective on your online reputation from multiple angles. Use all the data you can get from online customer feedback, social media listening and competitive analysis with the help of a review management tool, like FeedCheck.
- Analyze customer sentiment. Identify trends, recurring themes and potential areas of concern. Get behind what your customers think your strengths and weaknesses are, so you can keep what’s right and improve what could be better. For an automated customer sentiment analysis, use FeedCheck’s Key Drivers feature, that shows you not only how your customers feel about your offerings, but also how you perform on specific areas compared to your competitors.
- Implement changes. The last and most important step. Make the best out of your analysis conclusions, whether you have to enhance your customer service, adjust your marketing strategy or address specific complaints and issues. After a period of time, it’s best to reassess your business performance, so you know if the changes actually worked or not.
Conclusion
As technology advances, online reviews become more and more impactful to your brand online reputation.
They act as the modern equivalent of word of mouth, shaping first impressions, building credibility, and offering valuable insights into your customer sentiment.
To fully leverage your online reviews, it’s essential to use a review management service tailored to your business needs. Monitor, manage, and analyze the feedback you receive and become a household name in your industry. Reach out to FeedCheck today for a personalized demo that aligns with your business goals and objectives.