While the statistics are applicable to all companies, they hone in on local businesses.
ICMediaDirect, a top PR firm, knows it’s important to manage your reputation and works with brands to make the most of this data. The results of the study - formulated into an infographic by Invesp - show just how vital word of mouth is in the online sphere. The findings further state that customers will spend up to 31% more money on the services of businesses with “excellent” reviews, and 72% of responders will only make a purchase after seeing a positive review.— A recently conducted study showed that 9 out of 10 people answer to internet reviews. The surveyed persons see these reviews just as important as a good word from a friend.
While the statistics are applicable to all companies, they hone in on local businesses. A significant 92% of respondents state they would only use a company if it had, at least, a four-star rating on review sites. The stats are broken down further, with reliability (27%), expertise (21%), and professionalism (18%) being deemed the most vital characteristics for a local firm to be associated with. After analyzing this data and more, ICMediaDirect confirms that building up a solid reputation online is just as important for a company as focusing on its offline standing in the local community.
Positive reviews can, of course, boost business, but the analysis proves that negative feedback can have a direct fiscal drain on companies. For example, 86% of potential customers said they would think twice about buying a product from a firm with bad online reviews. What’s more, an extra star on reviews creates a 5% to 9% average rise in revenue for a business, while just one negative review could result in a company losing approximately 30 customers. Receiving positive reviews online translates directly into sales.
ICMediaDirect is a full-service internet reputation and content marketing agency with offices in New York City and Washington, DC. A top firm in the industry with over 20 years of experience, it has helped clients all over the world improve their brand's potential with online reputation management. An awardee of the New York Excellence Award by the SBIEC for two consecutive years, ICMediaDirect attends a variety of well-known marketing conferences and events throughout the year, including SES, Affiliate Summit, and LeadsCon, where it shares its expertise and techniques with businesses from all over the world.
IC Media Direct - Reputation Management: http://icmediadirectnews.com
ICMediaDirect Online – Reputation Management & Public Relations: http://icmediadirectonline.com
ICMediaDirect – Reviews & Reputation Services: http://icmediadirectreviewsreputation.com
Release ID: 524853