Positive reviews can boost business, but the analysis proves that negative feedback can have a direct fiscal drain on companies.

NEW YORK, NY - February 19, 2017 /MarketersMedia/ —

Prominent driving force in online branding and public relations, ICMediaDirect recognizes the undeniable influence of reputation management and is devoted to helping enterprises and individuals boost their bottom line by improving their public content. According to the data from a recently released study, 9 out of 10 people trust internet reviews, with surveyed individuals noting they see them as important as personal advice from a close friend. The results of this study - formulated into an infographic by Invesp - show just how vital word of mouth is in the online sphere. The findings further state that customers will spend up to 31% more money on the services of businesses with “excellent” reviews, and 72% of responders will only make a purchase after seeing a positive review.

While the statistics are applicable to all companies, they hone in on local businesses. A significant 92% of respondents state they would only use a company if it had, at least, a four-star rating on review sites. The stats are broken down further, with reliability (27%), expertise (21%), and professionalism (18%) being deemed the most vital characteristics for a local firm to be associated with. After analyzing this data and more, ICMediaDirect confirms that building up a solid reputation online is just as important for a company as focusing on its offline standing in the local community.

Positive reviews can, of course, boost business, but the analysis proves that negative feedback can have a direct fiscal drain on companies. For example, 86% of potential customers said they would think twice about buying a product from a firm with bad online reviews. What’s more, an extra star on reviews creates a 5% to 9% average rise in revenue for a business, while just one negative review could result in a company losing approximately 30 customers. Receiving positive reviews online translates directly into sales.

ICMediaDirect is a full-service internet reputation and content marketing agency with offices in New York City and Washington, DC. A top firm in the industry with over 20 years of experience, it has helped clients all over the world improve their brand's potential with online reputation management. An awardee of the New York Excellence Award by the SBIEC for two consecutive years, ICMediaDirect attends a variety of well-known marketing conferences and events throughout the year, including SES, Affiliate Summit, and LeadsCon, where it shares its expertise and techniques with businesses from all over the world.

ICMediaDirect - PR and Marketing News: http://icmediadirectnews.com

ICMediaDirect Reputation: http://icmediadirectreputation.com

ICMediaDirect – Reviews & Online Reputation: http://icmediadirectreviewsonlinereputation.com

Contact Info:
Name: ICMD
Email: [email protected]
Organization: ICMediaDirect.com
Phone: 800-595-0821

Video URL: https://www.youtube.com/watch?v=x3QHOeY8qAM

Source URL: http://marketersmedia.com/icmediadirect-examines-the-power-of-online-reviews/171283

For more information, please visit http://www.ICMediaDirect.com

Source: MarketersMedia

Release ID: 171283