I wish I could spend the summer thinking about the beach and the pool, but two things are stopping me: 1) I have a new baby who's too young for that stuff, and 2) I work with retailers, so I know they're already looking ahead to the winter holiday season, which is when most retailers make 20-30% of their annual revenue. But this year is expected to see sluggish growth -- meaning that there's more competition than ever for ad and promotional spending, which translates to digital advertising costs skyrocketing with a projected 90% increase in the next 5 years, according to Forrester.
However, there is something you can do to address both issues (increasing competition and rising advertising costs): boost your ratings and reviews. Doing so will increase your business' visibility and decrease your CPM. I know I know, it's only July. But, what you do now in the summer could set you up for success this winter!
Ratings and reviews really matter: Follow these steps.
Ratings and reviews can have a huge impact on success, as those with a strategy focused on them can attest. Our client Pricefalls, for instance, found that merchants with review ratings above 4 stars saw conversion rates improve 42%. Additionally, our client myHermes saw conversion rates increase by 36% after implementing ResellerRatings.
So, how can you leverage these powerful results in time for the 2017 holiday shopping season? The good news is there's plenty of time, but not as much as you think. As such, here are three steps to make sure you're prepared:
Step 1: Focus on these key areas of Google.
Drive thousands of reviews to your Google paid ads, organic search results, Google shopping, and Google My Business (aka local listings). Driving more reviews to these four key areas of Google will:
- Distinguish you from competitors that are using the same key words
- Increase traffic to your website (by an average of more than 17%), which means more sales.
- Lower ad spend by an average of 10-15%, thus saving money that can be well spent on many other marketing activities during the holidays.
Step 2: Minimize complaint sites and boost representative reviews.
ResellerRatings has a 15-year track record of superior SEO authority within Google, which means customers searching for your reviews will find ResellerRatings reviews that are representative of the real customer experience.
This also has the benefit of helping to optimize the chance your customers won't encounter a distorted perspectives from complaint review sites.
Step 3: Learn to manage negative reviews.
No company is perfect: There are going to be negative reviews about your business. Instead of being afraid of them, use those negative reviews as an opportunity to respond, change minds, and maybe even inspire those customers to change their reviews. After all, 90% of customers that had a negative experience will return to purchase again if their issue is resolved in a quick and timely manner.
Negative reviews are also where the ResellerRatings review management portal can really benefit your business by email customers who had a negative experience -- turning an angry customer into a long-term, loyal one. You can also run reports on how many of these customers came back to update their review to show that customer service efforts are working.
Gift your business a trusted reviews management platform
In today’s trust-based economy, your customers share their experiences whether they are happy or not. You can’t control customers, but you can control how you collect, analyze, answer, and syndicate the stories they tell across the most visited and influential sources -- something that matters more during the holidays than any other time!
Even if you already have a ratings and reviews partner in place, it’s not too late to leverage ResellerRatings’ powerful review management platform for the 2017 holiday season. Contact us to learn more or schedule a demo.