In the not so distant past, if you had a bad experience at the credit union, you might go home and tell your spouse or your neighbor. If you were really upset, perhaps you wrote a letter of complaint, but that might be the extent of it. Likewise, if you loved a certain business or product, you may have recommended it to your friends and family.

We know, for fact, that personal recommendations influence buying decisions.

But today, we live in a digital world, and these gripes or recommendations take place across the web, instantaneously. Online reviews are increasingly important, both to consumers and the businesses subject to their review. Monitoring review sites should be an integral part of your institution’s social media and reputation management strategy.

Research is the first step toward a customer buying a product or service, and online reviews–from describing how a particular product stood the test of time or which restaurant has the best burgers in town–play a huge role in this process.

 

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