86% of customers would pay more for services from a company with better reviews

While online marketing is continually evolving, changing and shifting, one thing remains clear; reputation is a decisive factor in buyers’ purchasing decisions.

In the era of the Internet, online reputation management has become crucial for any brand. 86% of people would pay more for services from a company with higher ratings and reviews, so a favourable reputation undoubtedly attracts more clients. Any brand that strives to grow should be aware of its public image, as it can make or break it. A great online reputation is an excellent way to enjoy a relationship with prospects and customers. Online presence statistics reveal that 81% of people aged 18-34 trust buyers’ reviews they find on online business directories. Word of mouth was the most popular way to find a reliable company in the past, but nowadays, people rely on online reviews more because it helps them understand what they should expect as potential clients of a business.

Why is online reputation management important for businesses in 2021?

The growth of social media platforms has made it easier for consumers to find out about companies. People read 10 reviews on average on a business directory before they trust a brand. The more positive the reviews, the more impressed they’re with a company. Online reputation management enables companies to monitor their reputation regularly. As online content shifts continuously, it’s crucial for businesses to identify what is being said about them to improve if their customers perceive them negatively. 97% of customers read businesses’ responses to feedback. The way brands behave in relation to their public is essential in building a good reputation.

Online reputation management builds trust and credibility

A positive online presence lets the audience know that the brand is reliable and credible. It shows them that it’s engaged with its customers and transparent about its products and operations. 64% of buyers think that a good reputation can motivate them to buy a product, but trusting the provider is vital for becoming a loyal customer. Everything they read online about a company can influence their purchasing decision.

Reputation management statistics show that people would spend 31% more money on a company with excellent reviews. When they put their money and trust in a brand, they expect first-rate services. The average star rating between 4.2 and 4.5 is ideal for the average buyer. They somehow find a 5 start score less trustworthy because they’re aware that not all buyers have the same expectations of a product. A negative review can provide more information about a product or brand than all the other positive ones.

Wrapping up

The importance of online reputation management has never been more pressing. All companies that want to improve customer loyalty should stay on top of online reviews. They must respond to customer complaints and establish a relationship with their clients. The way their customers experience their services and products can be their biggest obstacle or most significant advantage in achieving success.

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86% of customers would pay more for services from a company with better reviews

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