Steve Wyer on Star Reviews

What they mean, who gives them, and how they can affect a business’s bottom line

We’ve all grown accustomed to star ratings, says digital branding expert Steve Wyer. In fact, we expect them. But, what do they really mean? This is a question that most consumers fail to ask themselves before trusting this popular indicator of a company’s value. A “star” review, or rating, is a sliding scale used to allow customers to quickly rate their experience with a company. They are often given in conjunction with a description of that experience. And, as Steve Wyer points out, they have become more important to commerce than word-of-mouth marketing.

Reviews can affect the bottom line in a number of ways. The most obvious is related to the impact they make on the consumer reading the review. A second, lesser considered impact, is of a more technical nature. According to Steve Wyer, when a consumer searches for a type of company online, the results are ranked by a complex search engine algorithm. One factor influencing the algorithm is how much attention a business receives in the form of reviews. A business with more reviews – either positive or negative – will often be at the top of the list, a key placement for search results. This usually translates into more customers for those high-ranking companies with favorable reviews, explains Steve Wyer.

When it comes to review sites, some actually have greater search engine authority than others. Citysearch, Google, and Yahoo are among some of the top review platforms. Sites such as these are looked upon with greater trust by consumers, meaning that bad reviews here can cost a local business big bucks. Independent studies have found that a single star difference can upset a company’s customer capture rate by as much as 9%, reports Steve Wyer.

There are virtually countless reviews posted online at any given moment. These reviews can make or break a business in an age where convenience is king and people can access information with the swipe of a finger.

Posted on June 15, 2016 at 1:44 pm by admin · Permalink
In: Steve Wyer · Tagged with: , , , , ,

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