Your online reputation can make or break your business. To no shock, 94% of consumers scroll through online reviews before making a purchase, so maintaining a good reputation is important. In fact, reputation is said to be worth 25% of a company’s total market value – directly translating into profit. After consumers read online reviews on a business, or their products, they are likely to spend more than 4.5x as much in brick-and-mortar stores than they do online. Saying this, there are a few things AI can do much better than people when it comes to business.
By 2020, 25% of customer service interactions will be powered by artificial intelligence. AI has the ability to combat information overland to make information more searchable for the consumer, provide customized insight based on data trends, automatically prompt customers to leave feedback following their purchase, and the list goes on.
Online ratings and reviews are extremely important for consumer security. Even further, 70% of potential customers will form an opinion after reading only 3 reviews – all the reason to keep an eye out for how your business and products are ranked online. Continue reading below for further insight on what stops businesses from managing their online reputation and how artificial intelligence can aide in these scenarios.
