Feedback and Why It’s Important for Your Business

How do you choose products and services for yourself if you have a lot of choices in front of you? How do you know which of the many offers has what you need? Chances are, you read the reviews of people who have already used the service or bought the product.

It’s called reputation, and it’s an important and necessary thing for any company, be it a website with free online casino slot games or an old-fashioned flower store. If you have your own business, you can be sure that your future clients are also choosing you based on your reviews.

Feedback and Why It's Important

Let’s find out how to work with reputation and use reviews.

How Are Reviews Useful

A good review is always nice and warms the soul. Positive feedback gives you confidence and inspires you to do better. But that’s not all: Feedback has several other qualities you can use to benefit your business:

  • It’s a demonstration of your reliability and transparency. When someone in your target audience sees not only your catalog of products and services, but also the opinions of those who have already become your customers, they know they can trust you. Sometimes reviews work better than any advertising.
  • Audience loyalty increases. Your clients stay with you because they understand – you really do well, because others confirm it too.
  • Your target audience expands. People tend to trust the same people more: the company can write anything about itself, and consumers won’t cheat. And the more positive feedback, the more loyal people will be to you, and the more interest you will receive.
  • Direct feedback. You don’t have to spend resources on testing and quality control (although you should do it sometimes) – your customers tell you what they like and what they need to improve. You can use that information and get better.
  • This is useful for search engine promotion. There are many complex algorithms involved in SEO, and one of the main ones is reputation promotion. Search engine robots are more willing to raise the websites of those companies that have more positive reviews on various sites.

A recent study by Invesp found that if a product or service has a good rating, consumers are willing to pay more for it, on average 30%. This suggests that a good reputation isn’t only feedback and expansion of a loyal audience but also an opportunity to earn more.

Also Read: Top Reasons Why Online Banners Are Still Powerful in Advertising

What Are the Risks?

Reputation is a fragile but powerful tool for business. As the saying goes, first you work for your reputation, and then it works for you. And it shouldn’t be underestimated: with a competent approach you will achieve great success, but if you neglect it, you can face difficulties.

If you don’t work with feedback and don’t develop your reputation, you run the risk of ending up in this situation:

  • There will be no dialogue with consumers because you don’t know and understand your audience enough, and people in turn don’t understand why they should go to you.
  • The loyalty of your target audience will decrease, and you will have to invest more time and money in promotion through paid advertising.
  • Search engines will lower your site in Google. Search engine robots need a good reputation because people are looking for something they can trust.
  • Working with reviews is something that needs attention. Don’t be afraid to spend a little time on it – it’s better to do it regularly little by little than face unpleasant results of inaction later.

Where You Can Request and Post Reviews

Places where a customer can leave feedback should be available to them. You need this first and foremost, so make it easy for the customer to try to leave you feedback.

Here’s where you can do it:

  • On your website. It would be a good move if you placed a review block right on the homepage of your site. This allows new visitors to create a good impression of you, and makes it easy for customers to click on the block and leave a new testimonial.
  • On marketplaces, if you sell products there. Product cards on marketplaces always include a reviews section and a rating of the product, which is formed based on the ratings of those who have already bought it. For successful trading on marketplaces, reviews are important – among the sea of similar products a person tends to choose the one with the higher rating, and detailed reviews help complete the idea of the product.
  • On review sites. Often people with a desire to buy something, go to special sites with reviews of different companies and study what others write.

Also Read: Why do you Need a Gaming License?

What’s About Negative Feedback?

Many people are used to thinking that bad reviews are dangerous, and you should never be allowed to be publicly criticized. In fact, it’s impossible to be immune to negative reviews, and what is more important here is not the fact that there is no criticism, but the ratio of good to bad reviews.

It turns out that companies who received about 15-20% bad reviews (80-85% good), for the year received 13% more profits than those who had bad reviews proportionally less – 5-10% out of 100.

Why was this the case? It turns out that it’s not strange, but simple: if a company has almost all reviews – positive, future customers tend to think it’s fake, reviews are not real, negative reviews you just delete, and it’s all unfair.

And if there are still bad reviews, but there are far fewer than good ones, it means that the company is real, alive, open to its customers and honest with them. That’s highly valued by the buying public.

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