There’s a pattern for having a good reputation online that leads to increased revenue.
It seems that whenever we encounter a company that has a lot of positive feedback online, whether Google My Business reviews, Yelp reviews, Homestars reviews, Facebook reviews, and other platforms (big or small), they succeed more in lead conversions than others who have a negative reputation or those who have no reputation at all.
It may seem like an obvious thing to say but what’s not obvious is the following question: how many reviews do you actually need?
Well, the answer depends on how fast you could scale the number of your reviews and how many jobs you can complete within a period of time.
The general rule of thumb is more reviews are better.
If you’re a home builder, for example, and you only complete 5 homes a year, the maximum number of reviews you could get (potentially) is 5 reviews per year. On the other hand, if you’re a handyman and you perform 5 jobs per day, you could lead to thousands of reviews per year.
The number of jobs and the $ revenue per job may vary from one field to another, but what we found was something quite fascinating. We found a pattern.
When a company doubles its reviews, it also doubles the number of leads it gets. Meaning, if you have 5 reviews and you get 1 lead per week, double your total reviews to 10 and you will result in 2 leads per week. Hence, we arrive at the conclusion that if you double your reviews, you double your leads. Revenue obviously increases as a result.
So that’s your next challenge. Double your reviews and watch the results for yourself.