Is Your Restaurant’s Online Reputation Causing it to Lose Money?

This is the million dollar question every business owner should ask themselves, but don’t. Your online reputation precedes you whether you like it or not. So it’s imperative that you give it some thought and attention. In the restaurant industry, your reputation is key to its longevity. What are you doing to ensure you’re making a good impression on prospects? If nothing, then you’re leaving your future to chance. If you’re serious about taking the reigns and driving your company to a thriving state, then you need to be more strategic about how you handle your online reputation.

If you’re not convinced, then maybe these numbers will help clarify the severity of your online reputation.

What a Bad Rep Costs Businesses

It doesn’t matter what industry you’re in – a bad reputation can wreak havoc just the same. The following stats are a great indication of this:

  • Unhappy customers cost businesses over $537 billion annually.
  • Customers who are completely satisfied are more likely to open their wallets, generating 2.6 times more revenue for companies.
  • Eighty percent of customers refuse to buy from businesses with negative reviews.
  • Restaurants witness a five to nine percent revenue increase for every star increase they receive on Yelp.
  • About 80 percent of customers change their mind about making a purchase after reading a bad review.
  • Ninety-three percent of employees are willing to transfer to a company with a good reputation.

Your Reputation Can Prevent Growth

If you have a lot of negative reviews and ratings on sites like Yelp, Angie’s List and Google Plus, then people simply won’t want to do business with you. This goes for both customers and employees. You need great talent to keep your restaurant flourishing, but they won’t risk going to your business if it has a poor reputation. In fact, you may even end up losing workers because of a bad reputation. Same with customers – they want to do business with brands that have been socially accepted.

What’s Your Reputation Costing Your Restaurant?

It’s time to analyze your restaurant’s current reputation to see what needs to be done to improve it. It’s important to note that having no reputation is just as bad. No one wants to be the first one to try a product or service, so you have to work harder at gaining people’s trust. You have to start somewhere, and the best place to begin is on social media and blogs. You can work with an Internet marketing agency to create a bulletproof plan for your content marketing strategy.

Hugh Benjamin is an Internet marketing expert who specializes in helping restaurants and other small business owners with improving their online reputations, using search engine optimization, content marketing and social media marketing.

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