Home topics news Marketing News Marketing One negative customer review online can cost you 30 customers David Olsen May 21, 2010 If one negative customer review using social media can cost your business 30 customers, why aren’t you there yet? Not participating in the conversation with your customers online doesn’t mean it won’t happen, just that your voice won’t be heard at all. In the US on March 13 this year, Facebook surpassed Google in becoming the most visited website for the week. So what does this mean for businesses? As social media is further embraced by your customers, the resonance of their voice online will grow as will the repercussions from negative sentiment directed towards your brand or products. According to research by Convergys Corp, a negative customer review on YouTube, Twitter or Facebook can cost a company up to 30 customers. A customer review through social media reaches on average 45 people, two-thirds of whom said they would either avoid or stop doing business entirely with a company they heard bad things about online, Convergys found. “The word ‘Media’ with social is about the power and reach” says Jasmine Batra from Arrow Internet Marketing, businesses will have to learn to change and adapt quickly to ensure they aren’t left behind she claims. This also means companies will need to improve their service levels and products, with 1 in 5 people lashing out negatively about a product or brand online. Fortunately up to 70 percent of Australian businesses plan