Blog

Getting Positive Online Reviews Means Money: Online Reputation Management Tips

Getting Positive Online Reviews Means Money: Online Reputation Management Tips

Last Updated on August 1, 2023 by Steven W. Giovinco

Online reputations continue to play an ever more important role in customer’s decision to purchase a product or service

A new study shows how an improved online reputation translates in very tangible ways into increased revenue and business.

Those in the hotel/hospitality industry have known this anecdotally at least, and have used social media to engage with guests and to generate bookings.  But the study, by Cornell University Professor Chris Anderson at the Center for Hospitality Research, discovered three important points that focus on online reputations:

Better Online Reviews Means A Business Can Charge More

For each increase in online review scores, revenue can be increased.  For the Travelocity website, this means that a 1 point jump in hotel ratings—say from a 3 to a 4—the hotel can increase its price by 11.2%.

More Guests Look at Reviews First

The percentage of customers looking at reviews—and making them–on Travelocity has increased progressively.

A Good Online Reputation Improves Revenue

Each 1% increase in a hotel’s online reputation score leads to 1.42% increase in revenue per available room as well as a 0.54% increase in occupancy.

The study included data from more than 3,000 hotels in 20 cities, including several international locations, as well as from Travelocity. Anderson spent about six months reviewing occupancy numbers, daily rates and online reviews.

The basic tenants of the study could be applied to other fields or industries, such as the legal, medical or financial professions, or anywhere an online reputation or review influences a potential client to make a purchase.

Share:

Facebook
Twitter
Pinterest
LinkedIn

2 thoughts on “Getting Positive Online Reviews Means Money: Online Reputation Management Tips”

Leave a Comment

Your email address will not be published. Required fields are marked *

Table of Contents

Free Evaluation

Feel free to reach out at 347-559-4952 or email steve@recoverreputation.com

On Key

Related Posts

Case Study: Fixing Redirect and Indexing Issues to Improve SEO and Online Reputation

Last Updated on November 5, 2024 by Steven W. Giovinco The Problem: Mysterious Redirects and Crawling Issues Affecting Website Visibility What if your web pages don’t show up in Google? Imagine working hard to maintain a site for years, publishing valuable blog posts frequently and providing useful information to readers/clients. One day it seems you

MrBeast’s Challenges: A Case Study in Online Reputation Management

Last Updated on October 21, 2024 by Steven W. Giovinco Introduction MrBeast is a digital phenomenon–you might have heard of him or seen some of his videos. With 320 million subscribers, his influence is massive, going beyond the online realm into restaurants, philanthropy, branding, and merchandise, etc.  But the massive rise has recently come with

Scroll to Top
Scroll to Top