A business’s reputation is one of the most important and valuable assets it can own. Reputation is how customers, employees and everyone in between perceives a business and so having a negative one can cause many problems such as declining sales and less customer trust. Because of the Internet, information on business’ is easy to get hold of and if the majority is negative it can cause people to look elsewhere and could mean they go with competitors. Below is a list of compiled statistics to help when creating an online reputation management strategy:
- Positive online reviews mean that 73% of potential customers will trust a business more.
- 85% of potential customers trust online reviews just as much as a personal recommendation.
- 64% of potential customers trust online search engines when researching a business.
- 15% of potential customers have less trust in business’ which don’t have any reviews.
- 77% of potential customers don’t take into account reviews that are older than 3 months
- 97% of potential customers read online reviews for local businesses in 2017. That’s with 12% looking every day!
- Having a bad reputation can cost a company 10% more when hiring new employees.
- According to Google, reviews have 7% influence on rankings.
- Reviews are the second most powerful ranking factor in Google’s local pack.
- If a business goes from having a 3-star rating to a 5-star one it can mean 25% more clicks on Google.
- Every 1 star improvement on Yelp can lead to 5-9% increase in revenue.
- 74% of potential customers who see customer reviews on a business’ website state that they would contact said business.
- 49% of potential customers state that a business needs to have at least a 4-star rating before they would consider them.
- 30% of potential customers say that they judge a business positively when they respond to their customers online reviews.
- According to the 2017 Edelman Trust Barometer, 64% of global respondents trust online search engines more than any other source when researching a business.
- Marketers that prioritise blogging are 13 times more likely to achieve a positive return on investment.
- Google controls 77.98% of desktop search traffic whereas Bing only controls 7.81%.
- 69% of potential employees say that they would turn down any offers from business’ struggling with their reputation.
- 60% of potential customers state that negative reviews are what turned them away from a business.
- 87% compare businesses while they shop online.
- 83% of potential customers trust recommendations from online users as opposed to advertising.
- Google owns 74.54% of the world search engine market share.
- 97% of potential customers read online reviews to find a local business.
- Online reviews that gave only 1 or 2 stars failed to convince 86% of potential customers to purchase from the business.
- Wikipedia is on the first page of Google search results more than 50% of most searches.
- 95% of businesses use social media in their recruiting process.
- An average potential customer mentions brands up to 90 times per week.
- 58% of of company executives believe that online reputation management is important but only 15% actually put this into motion.
- 78% of potential customers trust peer recommendations whereas only 14% of potential customers trust advertising.
- 4 in 5 people claim that they have received advice through social media on what product/service to purchase.
- 12% of employees stat that they need to market themselves online as part of their job.
- As of 2019 more large companies are hiring full-time online reputation managers or using online reputation management services.
- 31% of employees that work online have searched for information on co-workers, the business they work for or are considering working for and their competitors.
- 80% of college admission officers use Facebook to assess and recruit applicants.
- 86% of potential customers say they would pay more for services from a company with high ratings and reviews as opposed to a lesser reviewed company.
- 85% of potential customers use the Internet to research a business before making a purchase from them.
- 76% of business’ believe that their reputation is above average even if it isn’t. This shows that they are unaware of their online presence and how it is doing.
- 87% of company executives state that managing reputation risk is more important than any other strategic risks.
- 41% of business’ that have gained a negative reputation report a loss of brand value and income.
- 74% of potential customers go to Yelp to find a trusted home service provider.
- 83% of potential customers no longer trust advertising and choose recommendation for other users over it.
- 70% of employers rejected an applicant because of online content tied to them (it’s not always businesses that can benefit from online reputation management).
- 45% of potential customers say that they have found information on business’ and people that have convinced them not to do business with them.
- 88% of potential customers agree that it would be difficult to remove inaccurate information about them online.
- 62% of potential customers have used a search engine to check their own name and to see what information on them is available online for the world to see.
- 56% of potential customers have found information which convinced them to purchase from a business or individual.
- 47% of potential customers say they assume that people will search for information about them on the Internet whereas 50% do not.
- 11% of employees state that their job requires them to promote themselves through social media and other online tools.
- 24% of employees say that their employer has rules and guidelines about how they are allowed to represent themselves online.
- There are more than 10.3 billion Google searches every month!
- 89% of online shoppers have stopped using online services and purchasing from businesses because they have experienced poor customer support.
- 70% of complaining customers are willing to do business with a company again if their complaint is resolved in their favour.
- 39% of Facebook users like brand pages so that they can see and get information on different products.
- 94% of potential customers only look at the first page of Google results.
- 56% of potential customers don’t think about the consequences of their online activities.
- 61% of potential customers have a higher opinion of brands when they offer a good mobile experience.
- 84% of businesses agree that building customer trust will become their main goal for the future.
- 30% of mobile shoppers abandon a transaction if a business does not offer a good and fluent mobile experience.