Reviews often get ignored, but considering that 93% of Millennials check them prior to making a purchase decision, can you really afford to? In this presentation we discuss how to get more reviews, how to respond to reviews, and some metrics you might want to use for reporting.

1. Reviews
Your Guide To Getting Found And Creating Raving Fans

2. Questions?
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How Do Customers Find New Accounts?
Source: Making the Switch study by AOL and Oliver Wyman: https://advertising.aol.com/sites/advertising.aol.com/files/insights/research-
reports/downloads/AOL_MakingtheSwitch_TradeSite.pdf
Let’s start with a simple question. It’s a
question every marketer has to come to
terms with before developing a strategy,
and that is to understand how their
consumers are behaving and receiving
information. So, how do customers find
new accounts?
According to a 2014 study by AOL and
Oliver Wyman of 1,743 respondents –
44% of account switchers found their
new account based off of
recommendations from family, friends, or
coworkers. Another 32% searched for
information on accounts before making a
decision. Where did they go to get this
information?

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That’s right, they went
online. Not surprisingly,
online advertisement
ranked 2nd highest and
informed 31% of
consumers decisions.

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Data taken from Google Trends on October 30th, 2015.
Looking at Google Trends
results for “bank reviews” and
“credit union reviews” there is
a clear theme. People have
increasingly searched out
reviews on banks and credit
unions since 2005.
The phrase “bank review”
gets 14,610 searches a
month.
The lesson is simple. People
are checking our institutions
before they decide where to
open an account.

6. © 2015 BancVue. All rights reserved. Not for distribution.
93% of Millennials check reviews
prior to taking purchasing action,
and 97% of those Millennials trust
anonymous reviews as strongly as
recommendations given by friends
or family
70% of the entire U.S. population
consults reviews prior to making a
decision.
Reviews serve as powerful social
proof.

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Wait, there’s more.
10%
In a study by SEO experts, Moz,
they estimated that reviews can
account for as much as 10% of
overall ranking factors in Google.
Notice that on Yelp it is a balance of star rating
and the number of reviews you have received.
This creates a tough spot for other businesses,
because those high ranking pages get more
views -> more views turn into more visits -> more
visits turn into more reviews. It’s good to be king
of the search results.

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Where Do Customers Hangout?
26k reviews added every minute
79 Million unique desktop visits a month
89 Million unique mobile visits a month
1.49 Billion active users
16 Million local businesses
- 645 Million views a week
- 13 Million comments per week
22% of the population visits Google+ once a month
16% of which follow brand pages

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How Do I Get More Reviews?
Step 1: Claim Your Page
Your branches (and ATMs) are
probably already on Facebook,
Google+, and yelp, you just don’t
own the pages. This can be a huge
liability for brands, so the first step is
to take control. Both platforms have
a very simple process to claiming the
page. The easiest way to do it is to
search your business first – if a page
exists and is unclaimed you should
see a button to claim the business.
Then it’s just a question on following
the steps.

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Step 2: Link These Pages To Your Other Digital Real Estate
Promote these review
pages by adding links on:
• your webpage
• your email signature
• in the about sections of
your other social media
pages
• in your mobile app

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Step 3: Promote in Branch
Step 3: Promote these pages in branch –
that can be done in a number of ways.
• put it on the business cards
• get window clingers
• table tents at the teller windows
• include it on your print collateral (fliers,
brochures)
• Staff shirts

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Step 4: Highlight, Thank, And Reward Feedback
By showcasing positive feedback you
reward the person who took the time to
review you, you help highlight reasons
other people like you, and you
demonstrate that you enjoy and value
feedback – all of which encourages more
people to post reviews.

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Bad Reviews Happen…
… But Not Very Often
Bad reviews do happen, but there are two important things to consider. Firstly, they don’t
happen very often. Looking at a breakdown of reviews across Yelp, you can see that the
world is a pretty positive place. Only 22% of all reviews are below 3-stars, and almost
half of all reviews are 5-stars.
Data also supports the fact that the presence of negative reviews add credibility to your
page. A business with only positive reviews is seen as “fake.” Negative reviews, as long
as they are the minority, have been shown to actually boost sales.

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The Customer Isn’t Always Right
But They Are Always Heard
What is the worst way to respond to a
negative review? Most people believe it
would to be defensive.
That’s not what data says. The worst
possible response is to say nothing at all.
Saying nothing at all is saying something. It
is saying “I don’t care that you had a bad
time.”
Consider the fact that 70% of customers will
never leave a review. They will have a
negative experience and then never give
you business again. Those that do take the
time to leave a review are giving you a gift.
They are allowing you the chance to fix the
issue for them and speaking up on an issue
that is likely impacting many more
customers.

16. Tip 1: Look to reset expectations.
Sometimes customers come in with unrealistic
expectations about your business. Apologize for the
misunderstanding and ask them to come back again to
experience something you do very well.

17. Tip 2: Be transparent on how you will act
on feedback.
If you messed up, let the customer know in clear
steps what changes you will make and when they
should come back to see that you have improved.

18. Tip 3: Own your mistakes.
We all have bad days. Own your mistakes and learn from
them.

19. Tip 4: Keep your emotions out of the
review.
It’s easy to take reviews personally. You should, because this is
your business, but the correct emotion should be “Oh my gosh,
how could this have happened. I’m so sorry.” Arguing or
defending never works.

20. Tip 5: Flatter your customers. Especially
when they’ve earned it.
Did they leave a long and detailed review? Regardless of the
star rating, compliment your reviewer when you can.

21. Tip 6: Practice empathetic listening.
Customers want to be heard. Reflecting back the content and
the emotion of their review will help them to understand you
want the same thing they do – a great experience.

22. Tip 7: When in doubt, ask.
If a review is unclear or vague, ask clarifying questions. This
shows your genuine interest in their experience and a desire
to solve the problem.

23. Tip 8: Celebrate your victories.
When someone pays you a compliment, get excited with them. Say
thank you, but don’t go into explanations about what made the
experience so great. Don’t talk about yourself. Just celebrate.

24. Tip 9: Know when to take it offline.
Sometimes issues should not be handled in public. If it is an
especially sensitive topic, or if you have already responded twice,
take the conversation offline.

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Measurements And Meaning
Metric Calculation What it means
# of Reviews a month If reviews are important to you and you are
working on growing them, then you want to
see this number growing. It simply reflects
your efforts and cross channel promoting.
Sentiment Score (# of
positive /
total
volume)
This will give you a percent of people that
feel positively about your brand. You want
this to be over 80% and keep growing
upwards.
Average Ticket Open Time (Close Time
– Open
Time)
This shows you how long people are waiting
for resolution. This number should be
shrinking and demonstrates efficiency.
# of correspondence Number of
replies
People don’t want lots of back and forwards.
How quickly can you address and solve the
issue?
Common trends report Write up common issues, like the ATM
example, and pass that on to your managers.

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