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(EMAILWIRE.COM, August 02, 2013 ) Franklin, TN -- According to Warren Buffet, it takes an entire 20 years to build a reputation and only five minutes to ruin it. Based on new data released in an infograph by Reputation Advocate, that only seems to be more gospel in the days of the internet and online customer reviews.
Online customer reviews are essential to the reputation of both small and large businesses, because 73 percent of consumers say positive customer reviews make them trust a business more. They also play a powerful role in purchasing decisions, as another 87 percent of consumers say positive reviews online have reinforced their decision to buy a product or service recommended to them.
71 percent of consumers agree that positive reviews help them feel they are making a good purchasing decision.
When it comes to reading customer reviews, 67 percent of consumers read six reviews or fewer. 22 percent read more than 7 reviews, and only 11 percent take notice of 10 or more online reviews. WhatÂ’s more, is that 80 percent of consumers have changed their mind about purchases in a store based on negative information they have found online.
Personal and business travelers both use social networking to share travel experiences, including hotel stays, cruises, restaurants, car rental companies and airlines.
Now consumers look for generated content for services much more important than for leisure purposes. 83 percent of consumers say theyÂ’ve looked at customer reviews before making a decision about a bank or other financial service, such as a credit card, car insurance, or home mortgage company.
When it comes to personal recommendations, 79 percent of consumers trust online reviews as much or more than if someone personally recommended or advised against a product or service.
As of January 2013, 85 percent of surveyed North American Consumers read online reviews for small businesses in their area. 50 percent of U.S. consumers are more likely to use a local business after reading a positive online review.
While 76 percent of all reviews posted on online review websites are positive, 90 percent of unhappy customers will not return after they post a negative review, but 5 percent of negative product reviews are written by customers who show no record of actually purchasing the item. However, 95 percent of unhappy customers will return if an issue is resolved quickly and efficiently.
In a recent survey conducted by the Global Trust in Advertising showed that 92 percent of consumers trusted recommendations from people they knew, while 70 percent completely trusted consumer opinions of what was posted online. The least trusted advertisement was text ads sent to consumerÂ’s mobile phones.
About Reputation Advocate
Reputation Advocate (http://reputationadvocate.com/) provides comprehensive services designed to correct and defend clients’ websites and businesses. The company’s professionals work diligently to correct inaccurate, inappropriate and embarrassing search results from bad customer reviews. Reputation Advocate can help you with online reputation repair, management and monitoring, so visit the website today to learn more how you can get your business booming after a bad slandering experience. See their newly release infograph here - Infographic – Customer Reviews: Friend or Foe?
Reputation Advocate Inc.
Customer Service
615-224-6610
info@reputationadvocate.com
Source: EmailWire.com
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