Your online reputation can make or break your business. Not only does every customer have easy access to leave online reviews about your brand, but also read existing reviews. Although it would be a dream to have a clean record of “great” reviews, defining this can be hazy. Honest, reflective, and believable reviews takes the cake, which lures in more traffic, loyalty, and revenue. Managing your online reputation is quite the task, but with the help of AI, management can become a breeze.
We’re in the digital era, so it’s a given that consumers trust the internet. 94% of consumers typically read reviews when considering a purchase, and 89% of consumers search for fellow consumer replies when reading reviews. Additionally, 82% of shoppers check their phone to browse for Internet reviews before purchasing a product in-store, and 78% trust online reviews as much as personal recommendations.
The heavy consumer reliance on reviews alone is reason enough for why a good online reputation truly matters. Even so, reputation is worth 25% of a company’s total market value, and after reading online reviews, consumers spend more than 4.5x as much in brick-and-mortar stores than they do online. 53% of good businesses with good reputation stand out from competitors, 60% boosts online presence, and 61% converts potential customers into sales. After acknowledging the anterior reports, it is safe to say online reputation impacts your business in-store, and online.
Moving along, 7 in 10 brand representatives allot up to 20% of their work week to managing their online reputation. In conversion, that’s approximately one full day per week. Utilizing artificial intelligence can save time, as well as improve results. 50% of businesses don’t monitor their online reputation due to lack of time, 44% due to lack of software. Even so, 1 in 5 brands admitted they struggle with replying to reviews – BUT 65% of consumers aren’t getting the response they expect from brands.
Saying this, there are several things Artificial Intelligence can perform at better than humans – this is one. 70% of potential consumers will form an opinion after reading just 3 reviews, so it can be worthwhile to use the help of AI to manage your online business reputation. Continue reading down to the infographic below for more information on how to incorporate AI into your reputation.
Infographic source: Reputation Studio