Reviews have become an important part of the purchase journey in just about every product category.
Customer Reviews data tells us that 92% of consumers online reviews to guide most of their common purchasing decisions, and software is no exception. B2B buyers do a lot of research before making a purchase decision. And the vast majority of this research takes place online.
Why ratings are important to software brands
B2B shoppers especially want to hear feedback from others who have already bought and used the software in question.
They access this feedback by reading reviews. In an increasingly competitive market, reviews help software brands acquire new customers – and keep the ones they have.
Reviews Drive Acquisition
Often the search for a new software solution starts with a Google search. Software brands know this – and spend time and resources improving search rankings. This makes sense: the higher the rank, the more eyes (and clicks). The average click-through for the first organic result in Google is 28.5%, compared to a click-through of 2.5% for the tenth result.
The good news is that when a software brand consistently collects reviews, it positively impacts its SEO rankings. And because the brand appears higher in the search results, it is a lot easier for potential customers to find it.
Once the buyer knows about the brand, reviews allow them to get unbiased opinions from people who actually use the solution. This one social proof has the power to increase confidence and probability of purchase.
of B2B buyers are more likely to make a purchase after reading a trusted review.
Reviews Drive Loyalty and Retention
As the saying goes, it’s cheaper to keep an existing customer than it is to find a new one. In addition, customer churn can be a major blow to profits. CallMiner estimates that US companies lose approximately $136.8 billion each year as a result of customers switching brands.
Be consistently involved in assessments, whether through learning how to respond to negative reviews or use examples of positive review responsesenables software brands to solve customer problems, improve experiences and, perhaps most importantly, restore trust.
Addressing a negative review to a customer’s satisfaction restores confidence in the business and makes it more likely to stick in the long run.
In addition, every third customer who receives a response to their complaint will reformulate their assessment into a positive one. This positively impacts the brand’s reputation – and its ability to acquire and retain customers.
Finally, consistently monitoring and analyzing reviews on G2 and other platforms allows software brands to identify what customers like about their products and service – and what they don’t. Brands can use these insights to drive data-driven operational improvements. These opportunities will increase customer satisfaction as well as long-term loyalty.
Generate a steady stream of reviews for your software brand
When it comes to ratings, number counts, just like: customer review Data shows that consumers expect 112 reviews to confirm the authenticity of a brand’s overall rating.
In addition, generating more positive reviews will positively impact the overall rating of the company, improving both acquisition and retention. The customer review The report also shows that companies with an average star rating between 4.0 and 4.5 earn an additional 28% in annual revenue.
But how can software brands generate more reviews?
In general, satisfied customers are happy to share their feedback. But often they have to be asked to do this. Ask for reviews is as simple as sending an email and asking the customer to write a review.
Some software brands run periodic campaigns to manually request reviews, such as once a quarter. These companies notice that their review volume fluctuates over the course of the year.
A better approach is to consistently generate a steady stream of reviews. This leads to maximum SEO impact and ensures that shoppers can always find a high volume of new review content, which will increase their trust and probability of purchase.
The proven way to generate a steady stream of reviews is through the process of: ask for reviews† A ReviewTrackers customer, Fiery Health Servicesautomated their review requests within their CRM system and as a result saw a 76% increase in review volume, with 4,266 new reviews generated.
The vast majority of those reviews (82%) have a positive rating, which is a 16% improvement. This raised the company’s overall rating to 4.22 stars, significantly improving its ability to acquire and retain customers.
Ensuring FTC Compliant Review Generation
Marketing messaging was developed to present a product or service in the very best light – with the ultimate goal of growing sales. Reviews, on the other hand, are unbiased and written by consumers who have actual experience using the product in question.
As such, software buyers trust reviews. Software brands must work to maintain this trust.
An important way to do this is by following everything FTC Guidelines on Soliciting and Paying for Online Reviews† For example, brands shouldn’t ask for reviews only from those they know will leave positive reviews. And they need to be transparent about whether the reviewer received any kind of incentive in return for their review (if it’s allowed on the specific review platform at all).
Failure to follow proper guidelines can have a major, lasting effect on brand reputation management strategies. For example, if a software brand was discovered to be paying for reviews, it would tarnish the brand’s reputation. They would likely lose existing customers – and have a hard time acquiring new ones.
The good news is that ReviewTrackers has a Google My Business partner and follows all applicable guidelines and best practices for generating reviews. One of the key benefits of G2’s partnership with ReviewTrackers is that we work together to protect your business.
Manage your software brand reviews more effectively with ReviewTrackers and G2
It’s not enough for software brands to sit back while reviews roll in. Instead, they need to actively curate this content to see the greatest impact.
An important part of managing reviews is to respond to them in a timely manner. Online Review Statistics shows that more than half (52.3%) of consumers expect a response to their review within a week. Yet only 36.7% received a response from a company for their rating.
An unanswered negative review leads to a frustrated customer. And a frustrated customer is likely to switch to another brand. In addition, failure to respond will send red flags to potential customers doing their research.
On the other hand, knowing how to respond to negative reviews in a timely manner provides the ability to resolve issues and improve customer experiences. This will restore the trust of the reviewers – and the chance that they will give you another chance.
In addition, responses to reviews influence future shoppers. A thoughtful, timely response lets potential buyers know that you are a trusted brand that values feedback and prioritizes customer satisfaction, increasing their likelihood of a purchase.
more money is spent by customers at companies that respond to reviews.
Responding consistently to reviews can seem daunting, but ReviewTrackers makes it easier than ever to provide timely responses that restore confidence and impact sales.
With ReviewTrackers, software brands can respond to G2 reviews, in addition to feedback from other sources, all within one platform. In fact, ReviewTrackers is the only reputation management provider that enables in-app responses to G2 reviews.
Start growing your software brand through reviews
B2B buyers have more reputation management software options than ever before, regardless of the challenge they are trying to tackle. They do a lot of research before making a purchase decision. And that research includes seeking peer feedback by reading reviews.
By effectively generating and managing reviews, software brands can gain customer trust and grow sales.
Learn how ReviewTrackers’ partnership with G2 makes it easier than ever to collect, monitor, and manage reviews within a single platform.