Word of mouth has changed. There was a time where one solely gained suggestions from friends and family when looking for a new restaurant to try or a place to get their car fixed. The value of that suggestion hasn’t changed, just the manner of gaining those suggestions has. Instead we value the opinions of complete strangers using review-based websites to help make our decision. Because of the rise of websites like Yelp, it has never been more important to monitor these sites, respond to your reviews and build relationships with your customers.
Don’t ghost your customers! In order to have lasting customer relationships, you must invest your time and build personalized relationships before competitors do. What makes your business special? Keep your customers and gain new ones by keeping them in the loop. Through data analysis we can help pinpoint the needs and wants of your customers to ensure they keep coming back – and bring their family and friends, too! The average business loses 20% of its customers because the business fails to nurture relationships with customers. According to Frederick Reichheld of Bain & Company, increasing customer retention rates by 5% increases profits by 25%. (forbes.com)
One of the biggest mistakes business owners make is not listening to their customers’ feedback. Whether the review is good or bad, customers use review-based sites to provide not only their peers but the business itself with valuable feedback. However, just absorbing the information isn’t enough. Interacting with customers who have had a negative experience could be the difference in gaining back their confidence, and responding to the positive ones may be the building block toward retaining their business long-term. So, if you aren’t responding to your reviews (negative or positive) because of time constraints or the inability to separate your feelings from good business sense it may be time to let us take the reins to start building long-lasting relationships your customers.