Shopping is at our fingertips. Everywhere you go, there’s sure to be something catering to your liking. Sometimes, there are multiple places selling similar items you have the desire to purchase – so you, like 94% of all consumers, turn to online reviews to help complete your decision. After reading online reviews, consumers are more likely to spend 4.5x more money in brick-and-mortar stores than online. Even further, a good reputation can boost your online presence by 61%, make you stand out from your competitors 53% more, and convert 61% of potential customers into sales. Knowing this information, there is no doubt that your online reputation affects your entire business – digitally and physically.
Additionally, 90% of consumers use the Internet to compare products carried or produced by similar brands, 78% trust online reviews as much as personal recommendations, and 68% are more prone to visit a local business after reading positive reviews online.
To be considered noble, almost half say “a reputable business needs at least a 4-star rating;” however, it doesn’t stop here. 71% of customers think better of a brand that takes the time to kindly respond to online reviews. On the other hand, ratings can directly impact your sales as higher ratings can increase your rank in search results.
This can make your business easier to find. This is important because 69% of people turn to a search engine when looking for a store or service – simply Google, Bing, or Yahoo! searching your name. Even more, 76% of consumers will get up to visit your store the very same day if they are happy with the reviews they find, and 92% will eventually make a purchase.
Managing your reputation online can be difficult. 7 in 10 brand representatives spend up to 20% of their work week on online reputation management. That translates to almost one full day of work per week. Last year alone, 86% of consumers read online reviews for local businesses, and of this population, 40% of consumers say negative reviews turned them away. Implementing artificial intelligence is a way to rid the difficulties of managing your reputation, as there are several things AI can perform at better than humans can. To find out how you can implement AI technology into your business, continue reading below.