Most customers which are almost 90 percent research about a brand or product before going for the product or service today. With even 1 negative review or article, research indicates that companies lose almost 22 percent of their prospective customers.
If there is anything negative about the brand or product most customers tend to doubt the brand's integrity and this creates a contrary opinion and a bad background for the company.
Also, research indicates that if there are more than one negative article or review then the loss of prospective customers becomes double to almost 40 percent and also if negative comments and opinions are seen on organic search results then the company and brand loses almost 60 percent of prospective clients and customers.
With 4 or more negative reviews or opinions the company loses a substantial 70 percent of potential customers and thus now companies are taking negative reviews and opinions seriously and are trying to counter them by providing better products and services and taking ORM services with digital marketers.
V4B digital is the best online reputation management companies in India the US and is very successful in improving the reputation of a company or brand online. It also conducts fantastic SEO’s, thus making your brand a success.
HOW REVIEWS AFFECT THE BUSINESS
As per Harvard Business Review, if there is even a small one-star increase in rating, the increase in revenue is almost 5-9 percent. Also, the research indicates that positive or negative reviews are polarized viewpoints and companies should also encourage those who are in the middle and are mildly satisfied to write positive reviews for the company and this will help the company to improve its reputation and also earn more profits.
According to a report by Hub spot, almost 60 percent of consumers researching the products feel that the reviews from other customers are trustworthy and worth considering.
Even if there is a single negative article then 22 percent customers avoid doing business with the company entirely.
Out of the 90 percent, individuals researching about a brand online 60 percent people trust reviews by others and thus this shows that negative reviews and articles destroy the reputation and revenue of the organization
CALCULATING THE SALES LOSSES FROM NEGATIVE REVIEWS AND ARTICLES
The company loses 1 out of 5 prospective customers with even one negative review or article.
The formulae to calculate the loss is as follows:
.(Leads x Closure Rate) x (Customer Lifetime Value) x 22% = Rupees Loss
With negative articles and opinions on the first organic search page, the losses will be much higher than if the negative article comes on the second or the third place. As per a study, only 5 percent of people go to the second page in a search result of Google and this makes it critical for companies to create positivity on the first page itself by applying positive ORM services.
ABOUT V4B DIGITAL
V4B Digital Solutions is a leader in Online Reputation Management & Digital Marketing domain. We believe in timely deliveries of the milestones and also maintain a transparent system for our clients by educating them time to time about the process. With the experience of more than a decade in serving corporate/SME’s /Individuals & Business Owners, we have a strong foothold in the industry.
We have a team of experts who always at the front foot to understand the client’s need and address them amicable by providing them with a tailor-made offering. We always make sure that we should not make any over commitments and focus on timely deliveries of the results which sets us apart from the Crowd.
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