What is the cost of a bad Yelp review for a restaurateur or an owner/operator?
A sharing economy is helpful in streamlining the decision process – and with the rise of apps and platforms such as Air BnB and Yelp, this world is easier to access than ever before. It’s a simple formula: positive reviews mean good service and a brand recognition that’s hard to buy. Customers are 58 per cent more likely to share their customer experiences than 5 years ago and 45 per cent of customers share their negative experiences over social media, while 35 percent post them on review sites. This means, for better or for worse, you have to expect some feedback on the service you provide to your customers.
So, what is the purpose of being on Yelp, you may ask? It’s been reported that a 1-star increase can yield a 5-9 per cent increase in your business’s revenue, while a bad one can cost you up to 30 customers. Further, as more and more people are participating and moving into the digital age, reviews will be commonplace, and your online presence will no longer be an option. As a restaurant, your online reputation is nothing to mess with – take time to read through this great infographic and check out the official Yelp FAQ page on how to appropriately respond to reviews on your Yelp page!