Harvard Business Review, back in 2007, claimed that 70 to 80 percent of all market value came from a source that we couldn’t see or touch, such as goodwill.
Well, it’s 2015 and things are quite different from 2007. If consumers want to measure a businesses’ reputation, brand strength, or goodwill, all they need to do is check up on Yelp.
Now, consumers have a tangible online resource that they can go do to when they want to find out the reputation of a business, and the general consumer feelings towards it. With consumer written comments created in real time about their experiences, other consumers can get a good idea of how valuable a business might be. Consumers can now act on the research they’ve done on Yelp.
Based on research done by Nelson, 4 out of 5 yelp users visit the site before they think about spending their money. This is why, when a bad review comes in on Yelp, businesses aren’t exactly thrilled. Typically, a negative review could really hurt a business, especially if it’s a small one. Fortunately, there ways that businesses can respond to a bad Yelp review.
But there is a way to take that negative review and roll with it. There are four tangible benefits that can come from nasty Yelp comments. Jean Dion has a post on Search Engine Journal that describes these benefits and how they can help your business. Check it out by following the link below!
Search Engine Journal: 4 Ways Negative Yelp Reviews Could Actually Help Your Reputation