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Jared Hamilton
From: Jared Hamilton
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Timothy Martell

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What’s The Cost of One Negative Review?

20b43289910f6e06615257237a624971.jpg?t=1Negative reviews are often times regarded as one of the worst things that can happen to your dealership online, but in actuality, not responding to a negative review is even worse. Purchasing a vehicle is the second largest purchase your consumer is going to make and they will want to do their research online prior to buying.

On average, 10 reviews are read before your consumer makes a buying decision and research says 70 percent of consumers trust online reviews. It may seem that one negative review is harmless, but according to Convergys, one negative review can cost your business thirty new customers. To put this in perspective, if your dealership is not monitoring and managing its online reputation and has 10 negative reviews with no responses, it could mean that your dealership has lost 300 potential customers.

Negative reviews cannot be ignored for they will not go away; instead, embrace negative reviews as opportunities to prevent any potential damage from occurring. It is inevitable; reputation management needs to be a crucial part of your dealership’s online strategy.

According to Bazaarvoice, seven out of 10 reviewers said a response to a poor review from the business changed their opinion. This could mean that of the 30 customers lost by the negative review, a response from the dealership could save 21 of these relationships.

Responding to all reviews about your dealership is vital. Even if you see a review left by a customer you know and decide to call them to try to resolve the issue, you will still need to respond publicly online. Take care of your upset customer first, but always keep in mind of the potential customers who are researching your dealership with each negative review you respond to online.

Be proactive by having a reputation management strategy in place to retain customers and to obtain new ones. Consumers want to trust in the customer service you provide, online and off, and reviews help customers decide if your dealership is the right choice for them.

Larry Schlagheck
Excellent post Amanda. We see this every day within our Vendor Ratings tool. Vendors that respond to negative reviews: 1) Illustrate that they understand social media, and 2) Seize the opportunity to change opinions (as you mentioned). Dealers and vendors alike should be reminded that having nothing but 5-star reviews and 100% "recommend " ratings is unrealistic and will be perceived as contrived.
Amanda Ryan
Thank you, Larry! Yes, we cannot express the importance of reputation management enough. You're right in saying that having only positive reviews is unrealistic for many customers are looking for negative reviews to see if they have been handled properly, which ultimately effects their buying decisions. I appreciate your feedback.
Michelle Fleischman
Absolutely! ! This also holds extremely true for lenders. If your going to be a social media network that's great for business only if there is a full time person or people to monitor the site. If not your looking for a crash and burn episode :)
Amanda Ryan
It's true! Having a person to constantly monitor social networks and review sites is extremely important and needs to be a part of every digital strategy. Communication is key and necessary to ensure that the dealerships/lenders reputation is in tact. Thanks, Michelle!
Shaun Fritz
I agree it IS important, but don't fall helpless to the online reputation management outfits that demand a ransom to address these things, it's not that difficult to google your own business and create an account where you need to do a reply yourself... for free... instead of the $300/M+ these outfits are poaching for

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