Can a bad review harm your business?

Are you wary of bad reviews for your business? You need not anymore, as 'any publicity is good publicity.' To know more, read on...

A business set up has to face derogatory reviews as well. How to equip yourself to such situations when you face a bad review? Scroll down...

Businesses today provide plenty of services and products that they feel suit their customers’ needs. However, with the power of social media and the internet, reviewing has become an important part in determining the purchasing power of customers around the world. Reviews of products and services are so easily available online and this opens up a world of scrutiny for companies who need to be on their toes at all times.

Is any publicity good?

There is the age old adage in marketing wherein, “Any publicity is good publicity.” However, this has taken a whole new meaning with the influx of social media and online reviews.

Statistics themselves prove that anywhere from 67 per cent to 90 per cent of individuals use reviews as a means to settle the dilemma of purchasing a certain product. This means that people are allowing reviews to decide the fate of a certain product when they look to purchase it.

This does not mean that reviews are the end-all of all products that are available online. Finding a product that is standalone in the market or has less competitors will make customers purchase it, no matter what the reviews say.

By responding to a few negative reviews online, you are at least showing that you are trying to rectify the issue and have not turned a blind eye.

A larger example that can be taken as a case study is the bad publicity that Seaworld received because of the documentary, Blackfish that showed a lower standard of living for orca whales in the park. This caused their stock to plummet by 33 per cent and audiences stopped arriving. This, despite the company coming out with a statement proclaiming it would improve conditions for its whales.
What is the solution?

The solution to getting constant negative reviews is pretty simple. One just needs to identify a pattern with regards to the issues that are being brought up. If many customers are finding a particular problem with the product, then you need to personally look into it and ensure that it is taken care of. It is worth noting that solving one issue that is consistent could bury the need for it to ever arise in the future
For isolated incidents where customers are facing certain issues, you could personally reach out to them and gather feedback to improve their experience. This gives them at least a sense of awareness about the company being loyal to their customers. Once you are able to solve the issue, providing them with a small gift card or a concession could go a long way in ensuring that they do not spew hatred on the internet again.
That being said, negative reviews could be the bane of existence for any company who operates in the e-commerce or the e-biz sector. Tackling these issues head-on is the way to go if you want to ensure that these problems do not occur. Don’t feel afraid to take on negative reviews in a more positive manner to ensure you remain relevant in the game.

How has a negative feedback or review affected you or your line of business? Please share your views.