Undoubtedly, there are intangible gains to engage in a reliable online reputation management firm. Fortunately, you can keep track and measure activities to gain small percentage of clarity and direction. It provides direction on basic ROI for reputation, which is based on basically three pillars. You can take steps to convert these main pillars into direct measures.
- Measure the correlation of direct lead generation from your website and review site management.
- Measure the control of online positive reviews with internal sales growth.
- Measure customer loss due to negative review impact.
Moreover, you can get familiar with the monetary gains related directly to online reputation efforts. Tracking and measuring allows business to gain leverage on customer satisfaction, likeness, and opportunity to provide personal recommendation.
Proactive approach towards ORM is crucial
- Study your current revenues
- Identify the percentage of consumers walking through 3rd party review sites or research the review sites, before they hire or purchase your brand.
Track direct leads
Assuming that every click through from review sites is a sale can be wrong. For example, if you attained 100 sales on your website from 1,000 visitors, which included 100, visitors originating from social channels or review sites directly then attribute 10% sales towards review sites. Therefore, the direct lead sales from your official site are 90%.
Track customer acquisition cost (CAC)
Actually, you are not paying for advertisement but allocating time for monitoring and managing review sites. You may need to invest a small amount in scalable review software. Tracking CAC allows you to get an idea, if your finance status is suitable for promos or paid ads.
Track reviews and rating
It is the most vital metrics for sound reputation management. The quality, content, and tone of reviews can provide an upward trend, which can increase overall transactions and average revenue rate per user.
Half star increase over 3.5 stars can cause approximately 10% escalation of overall sales and leads.
Track negative review impact
Bad things are not predictable even after you have spent a lot of time providing consumers with satisfactory services. To get to know the adverse effect of a single or multiple bad reviews is to analyze the velocity of lead pre review and post review.
Lead pre-review velocity allows you to identify the consumers click through from 3rd party website to yours. Knowing the before and after frequencies allow you to get an idea of the damage percentile, due to bad reviews. Thus, you can work thoroughly to obtain positive reviews and decrease the overall bad review impact.
Tips to place your best foot forward publicly
It is bad to remove Google review that can be damaging to your reputation but the bad reviewer needs to be handled delicately.
- Apologize to unsatisfied consumer, publicly
- Invite them for another experience
- You will make things better and if feasible let the consumer know what steps you are taking to handle the situation
If the bad reviewer is not a consumer then your response needs to be different.
- Mention the number of consumers you served in specific years
- Everyone is satisfied with the cost, services, and more.
These steps display that you care for consumer satisfaction!