The Most Valuable Brand Asset Is...
Reputation is the most valuable asset of today's brands (those both large and small) so it makes sense to take steps to manage it correctly.
BrightLocal recently released its 2016 Local Consumer Review Survey and found a noticeable shift in how consumers are searching for local businesses online and the role that reviews play in the purcahsing process.
The survey revealed that 90 percent of consumers read just 10 reviews or fewer before they feel that they can trust a business (vs. 87 percent in 2015), while 32 percent of consumers form an opinion by reading one to three reviews and 68 percent of consumers form an opinion by reading one to six reviews.
BrightLocal's survey also indicated that:
+ 68 percent of people say positive customer reviews make them more likely to use a local business.
+ 83 percent of people trust online reviews as much as a personal recommendation — if they meet their requirements (vs. 80 percent in 2015).
+ 54 percent of consumers will visit the business’s website (48 percent in 2015) after reading a positive review.
There is a bigger takeaway, however, than that reviews are important. All the data in the world does not matter if your business doesn't have reviews and those reviews don't influence users in a positive way. The best way to get reviews? Ask.
70 percent of consumers according to the BrightLocal survey indicated they have been asked by a buiness to leave a review, and 50 percent of consumer respondents have been asked to leave a review about a business and actually done it.