Online Reputation and the Recession

By December 23, 2013 November 19th, 2018 Uncategorized

As we all know, the recession affects all of us. From small businesses to large corporations, right down to us: the consumer. It’s hard to know where to start to begin that climb back to normalcy.

One way we’ve found that can help make your business less susceptible to downturn changes, is to build and/or maintain your online reputation. During a recession, people tend to take less risks. Therefore, people are more likely to go with a business that has a favorable reputation.

According to the study “Reviews, Reputation and Revenue: The Case of Yelp.com” by Harvard Business School Assistant Professor Michael Luca, “a one-star increase in Yelp rating leads to a 5-9 percent increase in revenue”.

With that in mind, it makes managing your online reputation more of a priority than ever. Especially at a time where you literally cannot afford to lose any more revenue due to petty things like a one-star difference on your Yelp page.

So what to do? Contact us at 877.973.8439 for a free consultation today! We’ll help you manage your online reputation and keep your loyal customers coming back…and possibly bring in some new ones!