Customer reviews – they’re the key to building trust online.
For many financial advisors, including a review section on their site seems time consuming and daunting. After all, do online reviews really help your business?
Yes. And in ways you don’t even realize.
Here are some important things to know about online reviews and how they help your business:
CUSTOMERS LOVE REVIEWS:
A recent study showed that up to 88% of online consumers trust reviews over any other form of messaging. These consumers valued the wealth of information that reviews provided, which gave them useful information to help with their purchasing decision.
ALL REVIEWS LEAD TO BETTER CONVERSIONS:
It’s not just good reviews that make a positive impact. Sites that include negative comments engender a sense of transparency and honesty that consumers appreciate.
In fact, a glut of exclusively good reviews only creates distrust. As Yelp told PracticalEcommerce,when business-owners use only self-selected, overly positive reviews, it creates bias in the business listing.
“A bias,” said Yelp,“that savvy consumers can smell from a mile away.”The key is to use all of your reviews – no matter their message – to create an online presence.
This is information that customers value and that value increases conversion rates.
REVIEWS ARE GREAT CONTENT AND GREAT EXPOSURE:
Financial advisor websites that incorporate reviews also increase their on-site ranking.
Search engines, like Google, consider reviews to be unique content, giving you better authority and relevance that increases your search ranking.
While many consumers trust and use Google, recent research showed social media to be even more effective.68% of consumers will post review on social media platforms, like Facebook, which are also incorporated into the Google platform.
By using social media platforms for financial advisor reviews, you are exploiting omnichannel brand exposure and getting far more bang for your buck!
REVIEWS MAKE YOU MONEY
Harvard Business School recently reported that consumer reviews have the power to increase revenue by 5 to 9%.
It’s true! Reviews literally make dollars and cents. And for savvy financial advisors that should make a lot of sense.
To learn more about customer reviews and how AltaStreet can help you, reach out here.