3 Ways to Determine ROI For Online Reputation Management
- 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.