Reviews to Revenue Masterclass: The complete guide to reputation management

Excerpt from the guide

Reputation is critical to your business’s success because consumers trust word-of-mouth more than any other channel. But the way consumers learn about your reputation has changed. Instead of asking friends and family, they search online for what other people have to say about your business and read through online reviews. Most won’t even consider you if you have bad reviews, making them a critical link to your revenue stream.

If you’re not actively managing your online reputation and generating a steady stream of positive online reviews, you’re leaving money on the table as potential customers go with another company that has a better reputation.

Consider this guide as a crash course on the ins and outs of reputation management — showing you how to take control and improve your online reputation, attract more customers, and ultimately drive revenue to all of your business locations. 

Chapter 1: The link between reviews and revenue 

Anyone who has ever looked for a contractor to remodel their kitchen, an orthodontist to straighten their teeth, or simply a new restaurant for date night knows that online reviews are essential to finding a trusted local business. 

These days, potential customers are more likely than ever to consult online reviews before making a purchase. In fact, studies show that 93% of customers read online reviews before buying a product or service. Online reviews provide customers with important information about the value of your products and services. 

But what many people don't realize is that online reviews can also have a big impact on a business's bottom line in other ways. Here’s how.

A strong reputation boosts your ranking so you get found more online

Online visibility is important for attracting new customers. After all, if potential customers can't find you online, they can't do business with you. 

Reviews are directly linked to how easily people can find your business online. When customers post positive reviews about a business, it helps to improve the business's ranking in online searches. Search engines like Google, Bing, and Yahoo! value online reviews as much as your customers do. 

Online reviews provide fresh, organic content for your business and highlight genuine customer experiences. Google’s goal is to provide the best search results for customers, and reviews provide them with valuable information. And since customers are more likely to click on links that appear higher up in the search results, increased visibility can significantly increase website traffic.

Waterstone Mortgage is a residential mortgage lender that has seen reviews play a significant role in the search rankings of each of its 56 locations across 48 states. By implementing a company-wide, automated process to help originators and branches ask for online reviews, Waterstone Mortgage increased its online presence, including its search ranking. This has both boosted their loan originators’ visibility online and generated more referral business. 

Positive reviews help you convert customers

The more positive reviews you have, the more reliable you appear, and the more customers will choose your business over the competition. 

Consider Aspen Dental, a multi-location dental practice with more than 800 locations across the United States. One of their main goals is to acquire more patients for each new office throughout their nationwide expansion. By integrating an online reputation management platform, Aspen Dental more than quadrupled its Google review count, and more than doubled its total Facebook reviews — all within three months. As more reviews are received and promoted, online reputations are strengthened, building the trust required to attract new patients.

 A good reputation can help you attract and motivate employees

There are also indirect impacts to your bottom line that come from a strong reputation. When you’ve built a positive reputation, employees will be proud to work for a 5-star company. Word will spread that your business is a great workplace, enticing more candidates to apply. Not to mention the motivation that reviews bring to your staff. Employees love seeing their names in the comments and will be eager to delight customers – improving overall customer retention and even influencing upsells. All these factors come into play in driving more revenue for your business.

For example, Complete Care has grown into one of the most recognized and trusted medical care facilities in the industry. Since implementing an online reputation management platform, Complete Care has been able to strengthen its patient-centric culture. They reward employees for any great feedback received, and use the incoming reviews as a motivator. Patient feedback and reviews are now an integral part of their culture at all levels of the company.

Download the complete guide to read on.