How to beat the competition by managing your online reputation

 

 

Your business’ online profile matters. Whether or not you have actively cultivated an online presence with a website and social media channels, consumers are viewing information about your business online in review sites, blog mentions, directory listings and other sources, and it can either help or hurt your business. 

With so much information at our fingertips, modern consumers have learned to do a significant amount of research before making a purchasing decision. In fact, on average, a consumer looks at over 10 sources when making a decision and 80 percent of consumers will change their decision based on a negative online review.

Taking that information into consideration should make it clear why it’s important to think about the possibilities—both positive and negative when it comes to your own business reputation.  People are finding information about your business online. Will you like what they’re seeing?  A recent Harvard Business School study found that a one star increase on the popular review site Yelp.com translates as a 5-9 percent increase in revenue.  And further, that this effect is driven by independent restaurants, since ratings don’t affect chain restaurants. 

Managing your online reputation might not be something you’re particularly good at, or interested in spending a lot of resources on. But with a little help, it is actually much easier and affordable than you might think.  Vantiv recently hosted a webinar, featuring a new product that helps small business owners like you tap into the power of online reputation management.

Here’s a recap of what we shared.  

Vantiv BizShield

Vantiv Bizshield detects, alerts, and manages threats to your business, including negative online reviews, incorrect listings, changes in the market, and competitor threats.  It’s a customizable and automated monitoring system that keeps an eye on your online profile for you. 

24/7 monitoring—Bizshield takes the guesswork out of online reputation management with ‘round-the-clock online review monitoring. 

Proactive alerts—If something happens that you need to know about, we’ll send you an email with the issue and a potential resolution that you can take to resolve it.  Alerts can be set up for listing inaccuracies, reputation activity, competitor intel, and more.

Know your competitors—Compare your business to industry benchmarks, and keep an eye on your competitors so you can keep pace. A change in hours? A new promotion? Stay in the know to stay competitive.   

Using an automated monitoring service like BizShield takes the guesswork out of your reputation management and helps keep it growing in the right direction.  It’s a great way to understand what’s important to your customers and what they expect when they frequent your business.

Vantiv Insights

Business owners looking to go beyond the basics of reputation management can use the Vantiv Insights dashboard for even more management and growth tools. Insights works in concert with BizShield to enhance the service and deliver even greater customization. 

Insights leverages data to help you attract and retain customers and streamline your marketing efforts. Small to midsize businesses (SMBs) generate about 54 percent of U.S. revenue and massive amounts of data. Yet only 23 percent of SMBs use big data, despite knowing it’s value. Bringing in new customers takes a significantly larger investment in time and marketing resources.  In fact, studies suggest that it’s 6-7 times more expensive to bring in new customers than existing ones. And repeat customers spend on average 67 percent more than new customers. Vantiv Insights helps you capitalize on that knowledge.

With Vantiv Insights, you can:

  • Make more informed decisions—Insights provides business alerts, analytics, and competitive performance information to help you assess all the relevant information before making decisions.
  • Get listed—Launchpad makes it easy to update your business info on sites like Yelp, Google, and Facebook.
  • Easily manage your online reputation—Reputation Defense alerts you when a review is posted online and gives you the ability to respond quickly.
  • Learn about your customers—Customer Pulse shows you how many customers you are acquiring, keeping, and where they spend.  
  • Reach new customers—Ads enables you to easily create and launch campaigns to help get your business noticed and attract new customers.
  • Stop bad reviews before they happen—Customer Feedback is a messaging platform where you can speak directly to your customers about issues before they become public.  

Both the BizShield and Insights products are simple by design, so you can get the most impact, with the least amount of time invested.  You can run hands free nurture email campaigns, maximize social media advertising, and increase your star ratings.

The best way to get a full understanding about the value Vantiv BizShield and Insights can deliver to your business is to request a free, live demo of the product. An experienced customer care representative will give you the white glove treatment as they walk you through the functionality and features most relevant to your business.  And, we’re also offering a free 60 day trial so you can experience the benefits yourself. 

To sign up for a BizShield trial, call 1-800-846-4472

Ready to learn more?

Go to www.vantiv.com/merchant-resources/integrated-pos-resources/webinars to enroll in future webinars.

 

Articles

Here’s the latest news shaping the commerce and payments ecosystem. These feature articles tackle subjects including mobile payments, EMV, and credit card processing to arm you with the best knowledge to run your business.

Newsletters

The road to smarter, faster, easier payments is paved with information, and MerchantAdvantage is your vehicle to get you there. Our monthly newsletter is packed with resources to help you grow, improve and secure your business. Fasten your seatbelt. Let’s go.

Alerts

Alerts share news from the leading card networks—covering what you want and need to know about processing, security and operations.

I’d like to speak with someone about payment security