You already know that IOU Financial uses cash flow, as well as other data, to determine the amount you will be funded. But did you know that part of that data is your online presence, such as Yelp! reviews?
Not responding to negative comments on review sites can be detrimental to your overall online presence, and create the perception that your business does not value your customer’s experiences. And even though it’s confounding that someone would leave a fake review for your business, it does happen, so it’s important to regularly monitor review sites for updates on your business. Not sure if a review is genuine or fake? In this article, Mashable explains how to spot and combat fake reviews. Don’t have any reviews, good or bad? In this case, no news is not good news. Ask loyal customers if they’d be willing to leave you a review on whatever site they are most comfortable using, in order to get the ball rolling.
Another online item to watch is the Google Maps listing of your business. Since Google Maps is crowdsourced, anyone can alter current business listings, change the hours and dates of operation, and even list the company as having gone out of business. Sounds too far fetched to be true? This very thing put a 40 year old restaurant out of business for good.
Your online presence as a small business is more than just maintaining a Facebook page. Keeping a healthy presence online is crucial for not only gaining and retaining customers, but for gaining additional working capital. Make sure your online presence accurately depicts your success!
This infographic does a great job explaining how online reviews can affect your business.