The power of online reviews is unmistakable in today’s world. As access to information has become easier with just a click of a finger, customers are not shying away from reading other people’s feedback about a product or a service to guide them into making better and smarter purchasing decisions. Likewise, they are also just as bold in sharing their experiences with brands with their fellow customers.
Recognising this power, businesses are taking heed. Brands are using online review platforms to interact with their target customers, address complaints and improve their processes for enhanced customer experience. Customer feedback, if leveraged correctly, can lead to a stronger online brand recognition.
While influential, online reviews have pros and cons that can very well affect your business. In this blog, we will take a quick look at some of these below:
Pros
- Online reviews bring in new customers: A major benefit of online reviews is that they help build brand credibility and, thus, win over prospective buyers. They entice new customers into trying your offerings based on virtual word-of-mouth alone.
- They help increase sales: Growing your bottom line is critical for your business. Positive insights result in customer confidence, whether they are new or existing, which ultimately translate into higher sales.
- They highlight attributes of your product: Online reviews are the best way to investigate what your customers love about your products or services that may not even be part of your original business descriptions.
- They allow you to improve your offerings and processes: Customer feedback, especially the not-so-flattery ones, allows for more enhancement opportunities not only of your offerings but of your processes as well. Reviews give you a chance to improve your eco-system for a better customer experience at no cost to you.
Cons
- Online reviews can easily escalate into PR nightmare: Failure to manage negative online reviews, in particular, can easily give you a major headache and affect your overall reputation. This may cause you to lose some of your customers.
- Vindictive customers may use review platforms to write malicious comments: You may easily fall victim to vindictive customers. When faced with damaging reviews, it is always recommended to respond to the issue with clarity but respectfully to assure them that you are looking into the matter and taking appropriate actions. This way, you are also showing others that you take their feedback seriously and that their opinions are important to you.
- Zero reviews may turn off some customers: As many customers rely on others’ feedback for their purchasing decisions, having no reviews on your business may prompt potential customers to go seek out your competitors. This can also apply to reviews published years ago that could be perceived as no longer relevant.
Online reviews, both glowing and unflattering, bring with them enormous benefits for both customers and businesses. To fully optimise them, correct and proper handling of feedback is a must.