Online reputation key to small business success

The success of small companies can be strongly affected by online user reviews, a Harvard Business School research report has found.

The study showed an improvement of one-star to a company’s rating on business feedback sites can lead to a 9% increase in sales. The report also claimed 80% of online shoppers will base their decision on whether or not to purchase items on customer reviews.

Constant monitoring of online reviews has become necessary for most online retailers, particularly with the rise of social media channels that allow instant feedback.

Read more at Harvard Business School