Increase Revenue Through Online Ratings
Are you in the habit of soliciting online ratings and reviews from your customers? If you are, you know how effective online ratings are; if not, getting started is easier than you think. Best of all, it's easy to learn ways to increase revenue through online ratings.
The contemporary customer is likely to make spending decisions largely based on what people outside your organization say about you and your products. It's true - online customer reviews now have the highest impact of any factor on whether people buy from you or not. Acknowledging this and helping people find those user reviews is one of the best ways to promote your products.
If you want higher earnings, work to establish a bank of positive feedback on outside websites. Ask your customers to write a review - not many of them do that without being prompted. Don't obsess over the idea that someone might say something unflattering; a few negative words make your positive reviews more believable.
A study by Bazaarvoice and Keller Fay suggests that you create a simple feedback form online to collect ratings and reviews, using clear questions like "How do you rate this?" with check boxes and an open text area for comments. An online survey tool is perfect for this job. Using a standard form keeps the information easily accessible and costs you almost nothing.
When someone buys your product or attends a program you hosted, take the time to send a thank-you email that asks for feedback. Wait a couple of weeks after a purchase before asking for a review. With an event, however, send your email the next day. Personalize the note, and mention that sharing an opinion takes very little time. Include a prominent hyperlink to your review site online.
Make sure your customers know that their opinions matter by inviting them to share their thoughts often. From there, watch your business popularity and revenue grow.