One of the Most Important (and Often Overlooked) Marketing KPIs: Your Reputation

(This is an update to an article that originally appeared on LinkedIn in February 2023)

Recently, I was in the market for purchasing a new computer. After several years of sticking with the same device, it was time to upgrade. I started my journey like most people—with a quick Google search: “best computers 2023.”

What followed was an endless stream of top-10 lists, Google reviews, and Facebook threads dissecting various brands and models. I found myself down a rabbit hole of feedback.

"My computer caught on fire within two weeks of purchase," one person said.

"This is the fourth model I've gotten," another reviewer wrote. "Love it!"

There were a lot of reviews to slog through. Some were helpful, others not. But after reading them—and realizing my current computer wasn't getting any younger—I took the information I had gained and made a purchase.

This is exactly why online reviews are critical to your business.

With the internet readily available on our phones, tablets, and other smart devices, it’s become the norm for consumers to read reviews about the product or service they are purchasing.

As Chris Anderson, businessman and current head of TED, once said, “Your brand isn’t what you say it is — it’s what Google says it is.”

Online reviews play a significant role in shaping a business in the digital marketplace. They can develop a brand, attract new leads, drive more revenue, and educate businesses on strategies to grow and improve their business.

People read reviews, so what?

Online reviews shape your business’s reputation in the digital age. They influence how customers perceive your brand, attract new leads, and drive revenue. They also offer valuable insights into how your business can grow and improve. Here’s why reviews should be a cornerstone of your marketing strategy:

1. Building Trust

Online reviews build trust, especially during the early stages of the buyer’s journey. Potential customers often rely on reviews when they don’t have direct access to your team to inquire about your product or service.

2. Attracting More Customers

Reviews generate conversation, give a voice to your brand, and help build your reputation. A strong presence on platforms like Google, Facebook, and Yelp can organically increase visibility and attract more customers.

3. Boosting SEO

Google reviews are particularly meaningful. Positive reviews not only enhance your reputation but also improve your Search Engine Optimization (SEO). Reviews contribute to Google’s search ranking algorithm, making your business more visible in search results. High rankings position your website as an industry authority, leading to increased traffic and trust.

4. Enhancing Conversion Rates

According to the Spiegel Research Center, products displaying reviews have a 270% greater purchase likelihood compared to those without reviews. Positive feedback, especially with detailed narratives, reassures potential buyers, ultimately driving more conversions.

5. Improving Revenue

A Harvard Business School study found that improving your average star rating can directly impact your bottom line. Higher ratings lead to better sales, as they create a perception of quality and reliability.

Leveraging Reviews for Positive PR

Great reviews can also serve as powerful marketing tools. Share them across your website, social media channels, press releases, and email campaigns. Letting your customers’ voices speak for your brand creates authenticity and amplifies trust.

For instance, a glowing Google review prominently featured on your homepage can influence visitors to explore more or make a purchase. Similarly, using testimonials in your email newsletters can reinforce your reputation with existing leads and clients.

Implementing a Review Strategy

To maximize the benefits of online reviews, adopt a structured approach to managing and generating them:

Automate Requests: For high-volume businesses, use tools like Shopify apps or Stamped.io to automatically solicit reviews from customers after a purchase.
Personal Outreach: For lower-volume businesses, reach out personally to satisfied customers with links to review platforms.
Monitor Review Guidelines: Stay compliant with the Terms of Service for platforms like Google, Yelp, and Facebook to ensure your reviews remain valid.
Use Third-Party Tools: Platforms like Podium and GatherUp can streamline review collection and management while adhering to platform rules.
Respond to Feedback: Show your customers that their voices matter by responding promptly to both positive and negative reviews.

Why Reputation Matters More Than Ever

Online reviews are the new word of mouth. They’re arguably the best form of marketing because they come from real customers sharing real experiences. According to BrightLocal, 87% of consumers read online reviews for local businesses, and 93% of consumers read online reviews before making a purchase.

Your reputation is more than a KPI—it’s the foundation of your business’s success. By prioritizing reviews and creating a strategy to manage them, you can build trust, attract customers, and secure your position as a leader in your industry.

Want to learn more about strengthening your online reputation? Let’s connect!