Value of online reputation

How you can place value on a review.

It’s Friday, and I’m going to kick off the weekend with a pledge to write at least one weekly tip on how you can better manage, improve or work on building your online reputation. As a reputation marketer, or someone that provides tools so that people can build their online reputation, I am constantly trying to price the value of a review. Why try and place a value on a single review? Well, if you give people incentives to fill out reviews, you’ll have a much higher conversion to have that review filled out (more on this later). So how much should that incentive be? My argument is as much as you can possibly afford!
As an extreme example Tesla Motors, yes – the fancy electric sports car maker from California, recently placed a value on a bad review from the New York Times at 100 Million USD. Yes, that’s from one review! Obviously, that’s on the high end, but I consistently hear from customers or prospective customers that they’re being plagued by bad reviews. When I ask them how much they think they’re losing, they pause and give me a number in the thousands on a monthly basis. Wow, for a small business owner, or any business for that matter, that’s huge.
But let’s dig a little deeper because I run reputation reports for businesses all day long. Usually, upon further inspection I notice a theme with the reviews for a particular business, especially the negative ones. “The blonde receptionist was extremely rude” or “the lady that answered the phone was so rude” but these reviews may be scattered on a few different review sites. Chances are if you’re paying attention, you can find some very valuable insight as to easy ways to improve your business. Like fire that receptionist.
Positive reviews on the other hand are equally important and the reason is because 80% of all Internet users make their buying decisions based on reviews. Another trend that I’ve noticed is that despite being around for 5 to 10 years, many businesses don’t have more than a dozen reviews on each social review site. Six or seven reviews on Google or Yelp with 2 or 3 of them being bad is causing business owners a lot of grief, mostly because it takes so long to get people to actually accumulate positive reviews to help offset the bad reviews.
Think about how long you’ve been in business. In those years, how many reviews have you been able to acquire?  Can you place a dollar value on the reviews that you have? Because if you can, I’d love to hear your thoughts. If I get enough responses I’ll even work on figuring out an online review calculator. Would that be useful?

Share this posts....

Share on facebook
Share on twitter
Share on linkedin

Related posts....

Leave a Reply

Your email address will not be published.

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

*
*

In home Childcare Services in UK

Top 15 In home Childcare Services in UK

The most common childcare options are au pairs, daycare centers, home daycares, preschools, and in home childcare. Are you looking for a childcare option for your needs? This article discusses in home childcare services in UK. Learn More About Nanny … Read More

Featured Post
in home childcare

Top Reasons to Consider In Home Child Care

There are various quality childcare service providers you can choose for your kids. The most popular options are in-home daycares, nannies, babysitters, and traditional daycares. This article will help you understand why you should consider in home child care. Learn … Read More

Featured Post
nanny background check

How to do Background Check on Nanny

Hiring somebody to take care of children is one of the most critical decisions for parents. A parent must conduct a thorough nanny background check to hire the right person. This article will help you understand the importance of vetting … Read More

Featured Post
Night Nanny Agency

Night Nanny Agency:Benefits,Cost,How to Find and More

A night nanny agency helps families find experienced nannies to take care of newborn babies. Agencies ensure that candidates’ training, skills, and childcare style are accurately represented on their profiles. They also ensure a family’s needs are well-defined. Apart from … Read More

Featured Post
Local Nanny Services

Local Nanny Services: How to Find, Charges, Advantages and More

Finding the perfect nanny can be a life changer for your family. Do you live in the UK? This article will help you discover various local nanny services in the region. In the end, you should be able to find … Read More

Featured Post
Night Nannies for Newborns

Night Nannies for Newborns

Are you a new parent struggling with post-natal depression and lack of sleep? Hiring a night nanny for your newborn baby can give you the peace of mind to enjoy a good night’s sleep, knowing that a professional, qualified, and … Read More

Featured Post
Nanny Recruitment Agency

Nanny Recruitment Agency: Definition, How to Find, Examples and More

A nanny recruitment agency is one of the safest and most effective ways of finding a nanny housekeeper. These agencies can help you find the right nanny for your lovely family. Here is what you should know before using a … Read More

Featured Post
How to Start a Nanny Business from Home

How to Start a Nanny Business from Home – 15 Steps

Starting a nanny business from home is one of the cost-effective ways aspiring entrepreneurs can earn extra money. You don’t need a huge capital or a large office to start. Regardless of the type of business you want, conducting market … Read More

Featured Post
High Profile Nanny Jobs

High Profile Nanny Jobs:Definition,Salary,Duties,How to Select and More

High-profile nanny jobs are often marred by highly secretive schedules, NDAs (non-disclosure agreements), and privacy requirements. However, successful candidates enjoy unmatched experiences and perks while on the job. Are you considering working as a full-time nanny for the rich and … Read More

Featured Post
Nanny Agency Near Me

How to Find a Nanny Agency Near Me

Whether you need a live-in or part-time nanny, you can use a nanny agency to find your preferred candidate. The ideal nanny agency cuts down the recruitment process saving the time you would have to spend looking for a carer … Read More

Featured Post