Online Reputation Management ROI Calculations [PRESENTATION]
3 Ways to Determine ROI For Online Reputation ManagementMost small businesses or professionals such as those in law, finance or the arts want to know what is the return on investment (ROI) for online reputation management building, boosting or repairing.There are three ways to calculate this:
- ORM Building
- A Negative Review Results in 30 Lost Customers
- Lifetime Customer Loss Calculation
For example, lets say the average consulting transaction is about $2,000 for a professional service then:
- The benefit to building a positive reputation can generate $64,000 or more in sales.
- The loss can be thirty customers or $60,000 for each negative review.
- The loss over the lifetime to the business can be $120,000 or more.
Costs could be much higher too.
For a “real world” example, one client, who is a lawyer, lost $150,000 in one year because of one negative review on RipoffReport.com.
Steven W Giovinco