Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Don't Fear Online Customer Reviews

Posted by: Rod Kurtz on January 12, 2009

Online ratings and consumer reviews have become an important element of many people’s purchasing process. Customers increasingly rely on online word-of-mouth in making everyday buying decisions. While small business owners often fear reviews on social networks may harm their business, social media actually offers a tremendous opportunity for open communication with customers.

Those who use online ratings and reviews in making buying decisions are savvy consumers. They are able to weigh the importance of many positive reviews against one or two negative ones. So don’t panic if someone writes about how your restaurant served them a steak that even your dog would send back, or that their three-year-old gives better pedicures than your day spa. Reach out to those who have had a bad experience and ask for a second chance to prove to them that their experience was not up to your high standards.

More importantly, rather than taking a reactive approach to ratings and reviews, be an active participant in the online consumer dialogue. Encourage your customers to review your business. The more positive comments prospective customers read about your business, the less influence any negative reviews will have.

Do not ignore what is being said about your company online. Engage in proactive online reputation management. You will discover that your customer relationships will grow stronger, helping sustain your business, even during uncertain economic times.

Josh Walker
CityVoter, Inc.
Cambridge, MA

Reader Comments

Chanie Pritchard

January 12, 2009 12:31 PM

Well put. More consumers are educating themselves (wisely) before making decisions about where to spend their hard-earned money.

Business owners should be embracing this sort of transparency because if you do good business, public reviews can only be to your benefit.

Post a comment



Want to improve the way you run your business? Entrepreneurs, academics, and consultants from diverse industries offer practical advice on a variety of topics each business day.

To submit a tip for consideration, first check our archive of previous tips to make sure you're not repeating a tip someone has already contributed. Then send the tip to Small Business channel contributor Michelle Dammon Loyalka. Because of the volume of material she receives, she may not respond to each individual.

BW Mall - Sponsored Links

Buy a link now!