The current age of massive digital transformation has made one point obvious and that is the need to adapt to change. Since technology is continuously advancing it is imperative to be creative and innovative to grow. Matching the right marketing solutions with the correct marketing strategies can be challenging and requires good decision making. An advantageous way to accomplish continual growth in an every changing market is to prioritize customers to the center of business and marketing efforts by moving from a company focus to a customer focus.
As it turns out, most people do not foster customer loyalty as a revenue driving initiative, which is a missed opportunity. To best leverage cost effective digital marketing and dominate the competitive landscape simultaneously, focusing on the huge marketplace of prospects online with Online Reputation Management, (ORM) is the way to go. Since reviews are important to all customers, as we evaluate which marketing strategies will drive the highest percentage of revenues year over year, it’s always a good idea to use customers as a driving force for business growth. Making business decisions from positive customer experiences leads to higher profits and a competitive advantage.
We know that most people trust online reviews as we do and with the same level of consideration as a personal recommendation from a friend or family member. In addition to the 5 star accolades and the pride of good service, the larger advantage of positive online reviews is the favorable impact on your Search Engine Optimization (SEO). When it comes to local SEO, getting your customers to leave positive reviews for your business on Google, Yelp or Facebook is very important. As the number of online reviews increase so does your search engine ranking.
As we consider the competitive landscape of the current marketplace, it is crucial to exceed customers’ expectations during each business transactions and touch point to stand out. Having an open line of communication with your customers makes them more willing to support your brand. Your business should take control of your online reputation, by asking your customers to post reviews about their experiences. It might be a good idea to incentivize their behaviors by offering gift cards or movie tickets. This is not always a requirement, but a recommendation if you experience resistance.
Failing to effectively engage customers’ is not a good position to be in. There is usually an alternative service provider leering to pick up your slack. A good way to gauge your service levels is to evaluate the retention rate and referral business percentages. This is a hard exercise for many, since knowing the truth can be painful. Evaluate if your customers come back. The fastest way to grow an existing customer base is effectively retaining current customers by adding value. According to Bain and Co., a 5% increase in customer retention can increase a company’s profitability by 75%.
Don’t miss the opportunity to grow your business by putting your customers first and keeping them happy.
Online Reputation Management
- Implement an automated process for requesting reviews
- Install a website widget to display reviews on your website
- Request and respond to reviews on Google, Facebook, Yelp, etc.
- Assign a team member to reputation monitoring
- Evaluate often and make changes as needed
- Consider text or email request to simplify the task for each respondent
Top SEO Advantages
- Get found locally
- Get to the top of search engine results
- Increase website conversions
Since it cost five times more to attract a new customer than it does to keep an existing one, focusing on your customer retention rate percentages is crucial. Remember that whether you are new entrepreneur or a veteran business owner, there is always room for improvement. By taking a proactive approach to your business with a 360-degree view you are able to explore new ways to grow your business.
By having effective methods in place to persuade your target audience to post reviews you can drive more business by marketing your reviews and grow your business.
Before you get started, you need to:
- Analyze all customer touch points
- Compare year over year retention rates
- Implement a customer loyalty program
- Share success stories with customers
- Request reviews from past and current customers
- Set up review monitoring to quickly respond to online reviews
- Implement a process to quickly resolve negative reviews
It is important not to underestimate the influence a review can have on a potential customer. Since happy customers are less likely than angry customers to post a review you have to control the conversation, by building your online reputation with happy customer reviews.
A great way to automate the process is to add a testimonial widget on your website, allowing you to control the feedback that is highlighted on your testimonials page and social media outlets. This is a smart and powerful marketing resource that can have an immediate impact on your bottom line by increasing sales through trust.
Did you know?
- 88% of consumers consult reviews before making a purchase
- 66% of consumes make a purchase after reading a positive customer review
Contact Marketing 4 Real Results to learn more about the power of online reviews to grow your business.