Wisdom of the Crowd PART 1: Negative Reviews
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The document discusses the implications of negative reviews on consumer perceptions, particularly in the context of apartment ratings. It highlights that while negative reviews can initially seem detrimental, they can actually enhance the credibility of positive reviews and help create a more realistic expectation for potential renters. Additionally, it emphasizes the importance of engaging with negative feedback to improve overall resident satisfaction and community trust.
Wisdom of the Crowd PART 1: Negative Reviews
- 1. PART ONE
- 2. PRESENTERS Lia Nichole Smith VP of Education and Performance Jennifer Carter Director of Client Performance
- 3. THANKS TO OUR SPONSOR!
- 5. OR DOES IT?
- 6. Negative reviews can and will happen.
- 7. THE GOOD NEWS There is a growing level of apathy or lack of concern about negative reviews
- 8. “But what about my scores?”
- 9. What’s the minimum “would recommend” score preferred by visitors to ApartmentRatings? POLL TIME!
- 10. POLL ANSWER At least 70% At least 80% At least 90% I don’t pay attention Source: 2018 ApartmentRatings User Poll Number of Responses 8,998
- 11. WHAT THEY CARE ABOUT
- 12. WHAT THEY CARE ABOUT “Wisdom of the crowd” Singular experience
- 13. 60% 2016 50% 2017 74% 2016 73% 2017 POSITIVE vs. NEGATIVE “Positive reviews make me trust a company more” “Negative reviews make me question the quality of a business” Source: 2017 BrightLocal Consumer Review Survey
- 14. 40% 2017 68% 2016 LESS OF AN IMPACT “Negative reviews make me NOT want to use a local business.” Source: 2017 BrightLocal Consumer Review Survey
- 15. 5 ways negative reviews can help attract and retain residents
- 16. #1 – EMPOWER THE POSITIVE Negative reviews make your positive reviews look even better and more credible Would you trust a review site if all or most of the reviews were positive? 47% “NO” Source: 2017 Today’s Online Renter Study, SatisFacts
- 17. #2 – READERS ARE REALISTIC Consumers expect negative reviews when researching a product Source: 2017 BrightLocal Consumer Review Survey 4% 8% 39% 39% 9% 1/5 stars 2/5 stars 3/5 stars 4/5 stars 5/5 stars
- 18. #3 – TRUST BUILDERS Negative reviews tone down speculation your community has fake reviews Is it easy to spot a fake review? 70% “YES” Source: 2017 BrightLocal Consumer Review Survey
- 19. #4 – CREATES CHEERLEADERS Satisfied residents can counterbalance negative reviews
- 20. #5 – ENGAGEMENT OPPORTUNITY Responding to negative reviews positively impacts renter perception The importance of… 2017 2015 A staff member responding professionally to a negative review 3.97 3.87 Source: 2017 Today’s Online Renter Study, SatisFacts
- 21. KEY TAKE-AWAYS Consumers believe they’re savvy enough to decide for themselves what they want out of a local business
- 22. KEY TAKE-AWAYS Renters expect some type of dissent in someone else’s experience and are less likely to infer the same will happen to them.
- 23. KEY TAKE-AWAYS If certain occurrences are anomalies, renters tend to look at the wisdom of the crowd.
- 24. 100 responses to positive and negative reviews 2018 Performance Playbook for onsite teams 2018 Social Media Study Results 90-day Social Media renovation plan SatisFacts & ApartmentRatings 10 keys to success Marketing initiative template to measure campaign effectiveness Award winning client best practices ApartmentRatings “in the moment” visitor polling results 60-day plan to improve online reviews The 5 main psychological drivers of resident satisfaction www.satisfacts.com/focus 10 takeaways you’ll only get at FEBRUARY 26-27 LOS ANGELES $100 OFF SAVE100 Exclusive for Onsite Insites LIVE attendees