Research Reveals Online Reviews’ Business Impact A recent study by Woodbury University confirms what savvy business owners have known for a while – good online reviews are absolutely essential to driving business to restaurants, hotels, auto shops and a variety of other businesses. ReviewInc can assist companies in improving their online reputation, promoting positive reviews and helping to mitigate negative reports. According to the Woodbury University report, a large number of consumers use review sites to make decisions about where to eat, shop and get services. Businesses are aware of consumers’ use of online reviews, but don’t fully recognize their importance or put much emphasis on improving their online reputation. This creates an opportunity for in-theknow businessmen and women to gain a competitive advantage by leveraging positive reviews to generate greater online favorability about their businesses, driving consumers to shop and do business there. The study showed that business owners who responded to a survey said that online reviews were important, with a sizable number saying they were very important. However, the study also showed that business owners put many other marketing tactics ahead of monitoring their online reputation on their list of priorities. Also, the majority of the businesses surveyed in the report do not monitor their online reviews. Consumer surveys by Pepperdine University showed a much different emphasis on reviews by consumers. A majority of consumers surveyed said online business reviews would have an impact on what businesses they chose to do business with. Surveys also revealed that a decrease of one star in online ratings could have a big impact on whether consumers chose to do business with a company. Business leaders seem to understand the importance of star ratings, if not how they can work to improve those ratings. In the Woodbury University study, a majority of businesses surveyed expected a decrease in sales of five percent or more, if their star ratings decreased by one star. Conversely, more than 65 percent of business owners who responded to the survey expected sales increases of five percent or more, should review ratings increase by one star. ReviewInchelps business owners monitor online business reviews with convenient, userfriendly software. The company also facilitates online business reviews for customers -providing easy-to-take surveys -- and can help share positive reviews via social media and other distribution channels. With ReviewInc’s help, companies can harness the marketing power of positive online reviews to increase consumer interest in their products and services. About ReviewInc ReviewIncprovides clients with tools to monitor their online reviews and mitigate negative reviews by reaching out to customers and addressing their concerns. The service
also allows clients to collect reviews on their site and to market positive reviews. To learn more, visit http://www.reviewinc.com/.