As a society, it appears we’ve become quite obsessed with what others have to say about us--especially in the world of consumer-based business reviews. Qualtrics, a leading experience management company, recently published some eye-opening statistics about the power of online reviews. Consider this--91% of 18-34 year olds trust online reviews as much as personal recommendations, and 93% of consumers stated that online reviews influenced their purchasing decisions. With the Millennial generation quickly filling the ranks of Corporate America and starting their own businesses, you can surely expect that reviews will be used as part of their decision-making process.
In the world of commercial real estate, 75% of brokers stated that referrals from past clients are the most effective way to acquire and win new incremental business. Since younger professionals treat online reviews as equal to personal recommendations, it’s time to consider making reviews a front-burner priority. Fast.
How to Secure Online Reviews
Do you currently have a process to request and obtain reviews from your current and past clients? There are a variety of sites, like Google, TrustPilot and LinkedIn, so it is important to have a strategy to aggregate them to a preferred site to reach critical mass quickly. LinkedIn may be better for individual brokers at a larger firm where the review highlights your accomplishments. Google and TrustPilot are company-focused and can benefit your Search Engine Optimization (SEO) strategy and domain authority. How would you fare today if someone decided to research you or your company? Go ahead and try searching right now.
The Value (and Risk) of Accepting Reviews
What’s the value proposition of positive online reviews? Increased trust, direct insight from consumers with feedback to share, and a lift in SEO rankings for organic local searches. What’s the downside? Studies show companies with less than a 3.3 rating (out of 5 stars) is the typical cutoff point for consumers choosing to do business with you. Negative reviews cause customers to seek alternatives, while avoiding your company.
TenantBase has made a significant investment in becoming a trusted brand on TrustPilot, which also provides benefits to our partner brokers. We currently have a 4.9 rating after 770+ reviews. 96% of these reviews rate out at the highest level--Excellent. As shown below, our partners can benefit from our success and some have incorporated it onto their website to highlight their personal reviews and our overall score.
Get Started Today
For commercial real estate brokers, TenantBase can help you start developing an online presence with direct links to proactive consumer reviews. In addition to benefiting from referrals of active tenants that will generate revenue, you’ll also get the benefit of connecting to our comprehensive digital infrastructure to further enhance your online identity. Let TenantBase manage the heavy lifting in getting you up to speed. You can visit our broker partner page to learn more.