For some marketers, there’s a dark and stormy cloud on the horizon. Negative reviews are becoming the norm and it’s possible that a brand may not have a complete grasp on the impact these negative reviews have a business. This is the age of the customer. A majority of consumers are relying on customer reviews to make purchasing decisions. Public customer feedback and negative word-of-mouth is causing businesses in every industry to lose potential customers.
But there is some good news. 95% of unhappy customers will return if an issue is resolved quickly and efficiently. A healthy mix of customer experience management and review monitoring can drive back the story weather. There are is always the next “new” customer.
There are industries that are impacted more directly than others, and the data tells a compelling story. For instance, it may be common knowledge just how crucial reviews are for restaurants. After all, 1 in 3 customers won’t eat at a restaurant with 3 stars. But most financial marketers wouldn’t consider reviews, despite the impact of loyalty on the finance industry.
To share the important statistics of online reviews across different industries, HubSpot and ReviewTrackers created the infographic below. It should serve as a reminder of how critical online reviews are for marketers in these five industries. As consumers become more connected, marketers will begin the feel the effects in every industry. It’s only a matter of time.
Brian Sparker is Head of Content Marketing for ReviewTrackers, a review management and customer feedback platform designed to help companies efficiently monitor online reviews, manage brand reputation, and enhance the customer experience in ways that make a positive impact on the bottom line.