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Online reputation Three options for online reputation management

management for Small businesses have three ways to approach online
reputation management: do it all yourself; hire an
online reputation management firm; or use reputation
brick-and-mortar management software that automates and/or simplifies
the process.
merchants 1. The DIY approach: Some merchants choose to
manage their online reputations themselves. If they

manage their reviews on all review sites, they might
By Peter Shenk have the time and aptitude to consistently monitor and
Womply have reasonably good success with this approach,
particularly if they don't have a serious problem with
sk local merchants what their top business negative online content.
headaches are, and their list will almost always
include "marketing" or "online reviews." And All this costs is a merchant's time, which can be
A for small businesses, these are synonymous. considerable. However, if merchants have the time to
Why? Because 97 percent of today's customers read online spare but not the money, or if they want to control the
reviews for local businesses, and nearly nine in 10 trust process, it might be the appropriate choice.
those reviews as much as recommendations from friends
or family. 2. An online reputation management company:
There's no easy way to determine which company might
Indeed, today's consumers trust random people on review be right for any merchant, other than by contacting
sites like Google My Business, TripAdvisor, Facebook and firms directly and discussing their services and costs.
Yelp to tell them which businesses to visit and which to (Womply researchers found prices range from $250
avoid. For brick-and-mortar merchants suffering from to $4,500 per month.) However, for busy merchants
outrageous online reviews, navigating this new digital – particularly those with a persistent negative online
marketspace can feel like a trip to the Twilight Zone. content problem – it might be worth the cost. Some
merchants love this "hands-off" approach; others prefer
The vital first step in marketing more control.

Smart merchant level salespeople (MLSs) help merchants 3. Online reputation management software:
comprehend that their online star rating, or "reputation Merchants who choose this option appreciate the
score" – calculated by reviews – is the first contact most ability it provides to balance price, automation and
of their potential customers have with their businesses. control. They can save time while maintaining control.
If customers don't like what they see there, they will buy A good reputation management platform will notify
from someone else – no matter how good a merchant's merchants of all new reviews, allow them to read
products and services are. and reply to them in one place, and provide options
for automating replies and review requests. Prices
Star ratings matter. A recent Harvard study found that typically start at $50 to $100 a month.
restaurants with a 2.5-star rating (out of 5) were 25 percent
more likely to close. For restaurants with 4.5 to 5 stars, the Software can also help merchants do more than
risk increase dropped to 0 percent. It gets crazier. Even monitor their online reputations. For example, it can
if a merchant's marketing message reaches its intended provide business insights, CRM, email marketing,
audience and motivates potential customers to consider POS integration, inventory management, marketing
purchasing, they will almost inevitably check online campaign management, reporting, and social media
reviews for social proof before deciding whether to visit metrics. Learn all you can about the options and consult
a store. So unless merchants own their online presence, with merchants about the best choices for them.
advertising efforts inadvertently will drive customers to
spend elsewhere. It's vital that ISOs and MLSs move into a more consultative
role with merchants. If you can offer solutions that solve
It may seem unfair that review sites have so much power merchants' core business problems, they will sing your
over merchants' bottom lines, but unfortunately, every praises – and stay in your portfolio.
business must deal with this in the digital age. It's vital
that merchants consistently monitor what's being said
about them online, and actively work to get more good Peter Shenk is vice president of partnerships at Womply, a leading soft-
reviews and minimize the damage done by negative ones. ware partner to the payments industry and the top provider of front-office
This is the essence of online reputation management for software to small businesses. Contact him at pshenk@womply.com.
small businesses.
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