Reviews propell the growth for Small and Medium Scale Businesses

The foundation of any country’s economy is in its industries. India is home to many small and medium scale businesses (SMBs) and it forms more than 60% of the economy. According to a leading news portal, the total revenue contribution of SMBs to Indian GDP is a staggering US$ 650 million. Retail industry tops the list amongst all other SMB units in the country followed by services and manufacturing. What is the most important thing for all these sectors to survive? Customers. How do you ensure a steady stream of customers for your business? Amongst all the other things, Reviews form a very big part in the growth of small and medium scale businesses.

Small businesses need to build and keep their reputation intact. That is why it is very important to maintain its clientele with great fervor. Another reason why small businesses need to maintain good reviews is its audience. Normally SMBs cater to a community which has similar customers. So when searching for one, customers should be able to choose the business right off the shelf. The best way to keep the customer base intact is to find a fool proof solution for maintaining all received reviews.

Reviews can be received either verbally, hand written or online. There are some myths surrounding reviews especially online ones

1)      Reviews cannot be accounted for –

Entrepreneurs may feel that only written reviews can be accounted for and not the verbal ones. This is a myth because all kinds of reviews can be accounted and advertised. With technology, business can send the testimonial to the respective customer and request for authentication. Subsequently it can be advertised and can be passed on as a true review.

2)      Fake reviews can damage the company’s brand –

This is not true. Fake reviews happen predominately online; hence it can be altered or removed. Also, many fake reviews can be clarified and sorted out. Many times detractors tend to post negative comments in order to ward off potential customers. Such reviews can be nipped out in the bud. By keeping online presence intact, businesses create a perception that they take every feedback seriously and this earns them brownie points from the customers.

3)      Being online gives rise to unwanted competition –

This is a common myth which most small business owners live by. The reluctance of being online is fueled by the fear of unwanted competition. Though the visibility increases by being online, it also increases the chance of being noticed by potential customers. Having a smart technology system in place will thwart all unwanted competition.

To manage reviews better, invest in a robust review management system. TestimonialsFor  is a company which specializes in effective feedback & reviews management system. The company understands the business from its grass root level builds a customized solution and weaves it into the website. TestimonialsFor takes all reviews into consideration, creates brand visibility and also manages it effectively. As it has been said earlier, reviews form an important part in creating or destroying a brand image. With the right set of tools, technological assistance and a trustful aide, one can create an unbreakable image in the eyes of customers.

This entry was posted in Economy, From the Creator, General, Indian Economy by Satish Kota. Bookmark the permalink.

About Satish Kota

Creator of TestimonialsFor, a serial Entrepreneur, who also Launched Heurion, an IT Services company and Glorion Engineering Solutions, a Civil Engineering Draughting services company. Have about 15 years of Programming experience and code even today. Other than work, his interests are into Travelling, watching TV and Sleeping. Satish has a bachelors in Mechanical Engineering.

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