If you didn’t have referrals, it would hurt your business, right? Yet many of you are doing just that – online.
In the online game, the equivalent of referrals is client reviews. You see them everywhere: Google-My-Business listings, on Yelp, on Facebook, and on Bing, to name a few. Did you know having online reviews could double your revenue?
Womply conducted a study of the financial impact of client reviews. The takeaway is that there is a strong correlation between online reviews and revenue. Your action items:
Get As Many Reviews As You Can
Businesses with a greater than average number of reviews than other sites earn 54% more revenue. Businesses average 82.5 reviews, so if you have less than that, you need to work on getting more posted. Businesses with 200 or more reviews earn twice as much as other businesses.
They Don’t All Need to Be Five Star
Businesses with ratings averaging 3.5 – 4.5 stars earn more than businesses averaging 5 stars.
Comment on Your Own Reviews
People spend up to 49% more money on businesses that reply to their reviews. You can see the study results here.
How do you get clients to leave a review for you? Tune in to this upcoming webinar with me on December 17, 2019 to find out.
Author Bio: Sandi Leyva, CPA, CMA, MBA, and founder of Accountant’s Accelerator, has helped thousands of tax and accounting professionals earn more, work less, and serve their clients better through her innovative marketing, training, and coaching services. Author of 30 books and hundreds of CPE courses, Sandi has won 12 awards for her thought leadership. Visit her at accountantsaccelerator.com and acceleratorwebsites.com.