As the year 2019 has already proved – no business can survive purely based on how amazing its product or service is any longer. A competitor with a better strategy for a not-so-good product can tap into bigger demographics and earn better revenue. This is why proper marketing strategies are just as important as the product or service.
With everything and everyone available over the internet, the need for online marketing strategies has become paramount. According to a few business review sites, a major online marketing strategy can increase more than 30% of a company’s retail revenue.
Need for Online Review Management
Until a few years ago, most companies were more inclined towards selling off their products and nothing more. Now, in 2020 that trend has changed completely. Successful companies put delivering an amazing customer experience over everything else. This is because businesses have realized the value of analyzing customer reviews. If a customer is not happy, they will not return for another purchase and may leave negative reviews online. However, a customer who is satisfied with their service is more likely to return and share positive remarks, both online and offline, about the company and product.
Best Online Review Management Strategies
- Build your professional brand image: Companies must conduct a business review for identifying the best ways to project a positive brand image for their particular market.
- Know what your customers expect from you: Engaging customers and proactively monitoring feedback collected from customer feedback management tools can help you understand what your customers need.
- Improve your online reputation: Many businesses use social media monitoring to identify their customer base and seek feedback. Responding quickly and efficiently to customers improves their experience with your business. This in turn creates more loyal customers who will help boost your reputation
- Enhance your customer experience: By identifying customer needs, it is easier to fulfill them and exceed expectations more often.
- Increase your ROI: Businesses can boost return on investment by using several types of online review analysis tools. These tools help track the money spent on promoting marketing ads and how much revenue the business made through those ads.
- Grow your customer base: If the customers are happy, they will return to give more business, and even bring along more customers with them. Proactive marketing strategies also play a major role in bringing in more business.
- Marketing your business online: Online marketing methods help a business grow both directly and indirectly. These include attracting organic customers as well as the ones that come through paid ads.
If you have a good product or service, grabbing the attention of your customer base will only be a matter of time. You must work closely with your marketing team to always provide outstanding after-sales services to your customers. You also need to identify what they want, what you offer, and how you can bridge the gap between the two. With the insight and advice of those in charge of online review management, you should be able to grow your business manifold in a matter of time.
Tim works as the VP of Sales and Marketing at NetServ Applications and oversees the development and client relationships for NetServs’ proprietary product Tatvam. Tatvam is a Customer Feedback Analytics product that leverages technologies like Machine Learning and AI to help companies monitor and improve their customer experience. Tim both manages the product log and the development teams to ensure they are consistently innovating and delivering a true value-add product, as well as continuously works with Tatvam customers to help them improve their data strategies and customer experiences.