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Billionaire CEO Teaches You How to Respond to Bad Online Reviews

millionaire teaches you to reply to bad reviews

Elon Musk isn’t your average self-made billionaire CEO.

The man who launched Tesla Motors and SpaceX (a private-sector space exploration company—yes, really!) has a net worth of $20.7 billion. This currently puts him in 43rd place on Forbes’ wealthiest people list. He also has over 40,000 employees, runs a non-profit artificial intelligence research company, and recently founded a neurotechnology company with the goal of treating brain diseases.

Oh, and he’s 46 years old.

You’d think a guy trying to launch people into space and cure brain diseases would be too busy to respond to online reviews.

But you’d be wrong.

On August 18, 2017, a Tesla customer took to Twitter to lodge a complaint directly to Musk:

Paul Franks Tweet to Elon Musk

In just 24 minutes, Musk replied:

Elon Musk Response to Paul Franks

Holy crap.

Musk’s tweet is a master class in responding to online criticism from customers. Let’s dissect the tweet, so we can see how Musk gets it right…

  • He responds quickly.
  • He himself responds (not some intern or lower-level employee).
  • He makes the customer feel important by acknowledging the customer has a good idea.
  • He offers a solution the customer will find satisfying.
  • He makes zero excuses and does not shift blame.

This is the Mona Lisa of responding to negative online reviews. And it’s SO SIMPLE.

You can—and SHOULD—follow in Elon Musk’s footsteps. Respond to every online review. The good. The bad. The ugly.

This shows you actually give a hoot about your customers. It creates goodwill not only with the customer, but with the prospects who are looking at your online reviews to determine if they should choose you for THEIR projects.

It’s such an easy and startlingly effective way to build consumer trust. And it doesn’t cost you a dime. (To learn how to respond to online reviews, read this blog post.)

The only issue you may run into is actually finding all the online reviews about your company. There are dozens of online-review sites out there… some of which you’ve probably never heard of or know you were listed on. I’ve seen many clients’ jaws drop when they found out that they have a bad review on Website X. They didn’t even know their company was on there!

If you’re too busy to monitor the smorgasbord of websites in which your customers could leave a review, let MYM do it for you.

Our Online Reputation Management (ORM) is a comprehensive solution for maintaining and improving your online reviews and standing.

Here is some of what’s included…

  1. New Review Collection: After you complete a job for a satisfied customer, we email them and send them through an effective funnel that encourages them to leave a positive online review.
  2. Subpar Review Interception: If a customer leaves you a negative review using our ORM service, a pop-up appears with a message that says something like, “Hey! Sorry to hear you had a bad experience. We want to make it right. Please call us.” It will then give the customer a choice between posting the review and calling you before posting the review. This gives you a chance to turn that two- or three-star review in to a five-star review.
  3. Brand Monitoring: You are alerted every time a new review is published about your company on the internet. This is not limited to reviews we generate through the reviews process, but any review at any time. This allows you to quickly respond to all online reviews you receive.

For more information about MYM ORM—and to generate an instant online reputation report about your company—visit our official ORM page: https://www.mymonline.com/working-with-mym/services/online-reputation-management.

After that, get in touch with us by phone or through the online chat function on our website.

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Even My 11-Year-Old Gets The Importance Of Reviews—Do You?

airsoft handgun reviews
A few months ago, my 11-year-old son Luke wanted to buy a Desert Eagle Full Auto Airsoft Pistol on eBay.

My response: “Um… no.”

But Luke really, really wanted it.

So when I put my size-12 loafer down, he didn’t back off.

Instead, he came at me with a binder’s-worth of review information about the gun and the seller.

He showed me the gun had a four-and-a-half-star rating out of five. He showed me the seller had 3,119 reviews and 99.7% positive feedback. He showed me the seller also had 1,541 positive reviews in the past 12 months.

So even good ol’ wide-eyed Luke knows that online reviews are a hugely persuasive form of social proof.

He might not have thought of it in that exact way (he’s a middle schooler, not a marketer), but he has figured out that people can be swayed into doing or buying something if enough other people do.

And this is why 11-year-old Luke understands marketing better than most contractors.

Sure, contractors think reviews are important… but many underestimate just how important.

Like I said a few posts ago, Social Proof is essential and new research shows 90% of people read online reviews before deciding to call a contractor.

Yes… 90 percent!

don't be surprised about online reviews

Oh, don’t look so surprised.

 

The good news: If you already have a bunch of great online reviews, you have nothing to worry about.

The bad news: If you don’t have a bunch of great online reviews, you’re leaving a depressingly large sum of money on the table.

Fortunately for you, we can fix that.

We’ve been providing Online Reputation Management (ORM) for just a few months, but it’s already proving to be a godsend for our clients who need to beef up their online reputations.

Case in point…

In just one month, our ORM has generated our client Jacob’s Ladder, 10 new five-star online reviews across Google, Facebook, BBB, and Yelp.

At this pace, the company could have 120+ stellar online reviews within the year.

Like I said yesterday, it goes to show that building up a lot of great reviews is not hard, but it does take a lot of time and effort. To do it yourself, you’d have to dedicate a full-time employee to it, and it would cost you thousands of dollars a month.

Consider the eBay seller I mentioned earlier. It’s taken her 15 years to accumulate those 3,119 reviews. That works out to about 208 reviews per year.
If you’re an eBay user, you know that people on there give out reviews like candy. So if it’s taken this woman this long to collect that many reviews on eBay, you can expect it will take you years to attain even one-third that amount on sites like Yelp, Google, and Facebook.

That’s why you need to get started RIGHT NOW if you want to build an ironclad online reputation. The longer you wait, the more rave reviews you lose out on.

Because here’s the thing…

Your customers want to let the world know how great you are. But they have 789 things going on in their lives, so they forget to.

MYM ORM sends your customers through a sophisticated review funnel that gets them to take action and provide online feedback on the review websites of your choosing.

So stop shooting yourself in the foot with an airsoft pistol. Every remodeling project that goes by that you’re not utilizing ORM is another wasted opportunity for a great online review.

Mosey on over to MYM’s official ORM webpage for more details.

Until next time,

P.S. So, did Luke’s tactic of showing me mounds of social proof persuade me to let him bid on the airsoft gun? Actually yeah, it did—under the condition that I would heavily supervise his use. He was outbid in the last few seconds, though, so he didn’t end up getting it. Oh, darn….

 

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Would 750 Online Reviews Impact Your Sales?

5 star reviews
I’ve already talked to you about the massive power of social proof and online reviews.

Essentially, social proof boils down to this:

The more popular something is, the more that people want a piece of it.

So, answer this question…

Do you think 750 glowing customer reviews would make a difference in your sales?

Let me jump in and answer for you…

Heck yeah, 750 glowing customer reviews will make a difference in your sales!

It’s a proven fact that good online customer reviews boost sales for businesses. Give it a Google if you need confirmation.

The question is, how do you get 750 awesome reviews? How do you even get 75 awesome reviews?

It’s simple—MYM’s Online Reputation Management (ORM).

ORM is the process and systemization of getting, managing, and reporting on reviews across the entire internet.

Our ORM contains a highly effective funnel that leads more of your customers to write reviews about you. You generate a constant stream of positive online reviews on the websites of your choosing.

Assume our ORM generates you to two to three new positive online reviews per week. That’s…

  • 10 to 12 a month
  • 120 to 150 a year
  • 240 to 400 in two years
  • 600 to 750 in five years

As you can see, good reviews take time to build up. But these numbers are easily attainable as long as you start RIGHT NOW!

And even if you get even half as many, it will still have a profound impact on your sales. Three hundred excellent reviews will turn A LOT of on-the-fence prospects into enthusiastic cash-in-hand customers.

Now, let me throw some more math at you to demonstrate how ridiculously lucrative our ORM is…

  • Our six-month and one-year ORM agreements are $599 per month. That works out to $7,188 per year.
  • Studies show just a one-star increase on sites like Yelp boost your sales 5% to 9%.
  • So if you’re a $2MM per year company, ORM can put at least an extra $100,000 to $180,000 a year in your pocket simply by increasing your ratings on review websites.
  • That’s a yearly ROI of 1,291.21% to 2,404.17%!

And these are conservative estimates.

Imagine the boost in sales you’ll receive once your positive online reviews start climbing into the 400s… the 500s… the 600s… the 700s… and beyond.

Once you reach those numbers, homeowners will automatically see you as THE remodeling authority in your area. They’ll see all of their fellow homeowners having great experiences with your company, and they’ll line up around the block for the chance to do business with you.

After all, 750 people can’t be wrong.

Visit our ORM page to find out more about what it can do for you.

P.S. Even my 11-year-old understands the pulling power of positive reviews. Next email, I’ll tell you how he tried to sucker me into buying him an airsoft gun off eBay because the seller and the gun had great reviews.

Kids, I tell ya….

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Why You’d Jump Off A Bridge If Everyone Else Was | A Lesson in Social Proof

would you jump off a bridge
Yesterday, I read a story about some teenagers in Washington state jumping off a tall bridge that runs across the Columbia River.

Judging by the pictures, I’d say it’s a good 50 feet from the bridge to the water.

The news article says, “Officials soon learned the kids were just trying to cool off by jumping into the water.”

Yeah… I don’t buy it.

As a father of six kids between the ages of 11 and 23, let me tell you the real reason these teens were risking serious injury and cold-water shock…

They were trying to look cool, not cool off.

I guarantee this is what happened: One of the teens thought it would be awesome to cannonball off the bridge.

The rest of them, wanting to fit in and keep their “cool kid” cards, followed suit.

I mean, let’s be real.

If they wanted to cool off in the water, they could have—you know—walked into it directly from the shore.

Instead, they dove into it from five basketball hoops high.

Now, if you’re thinking, “Man, teenagers are dumb,” know two things:

  1. You’re right.
  2. While YOU aren’t dumb, you’re guilty of the teenagers’ same “follow the leader” behavior.

Simply put, not much holds more power and influence over a person’s decisions than social proof.

 

You might not jump off a bridge because your friends are doing it, but you—like all seven billion humans on this planet—base many of your decisions on what others are doing.

Social proof is why we wear certain clothes, drive certain cars, and eat at certain restaurants. If we see enough people partaking in something, we want a piece of that pie, too.

That’s just the way that gray lump of matter between our eyes is hardwired.

This is why good online reviews—and lots of them—are required for you to attain true success as a contractor.

Don’t believe me? Consider this…

New research shows 90% of people now read online reviews before contacting a contractor.

Out of those folks, 86% (!!!) of them are influenced by a single negative review.

I’m no math whiz, but that means virtually every person who considers contacting you looks at your online reviews first.

And of those people, virtually every person is going to think twice about contacting you if you have a bad online review.

Simply put, people don’t want to waste their money and feel like chumps. That’s why a bad review of your company will make a larger impression on them than a good one. It’s Psychology 101.

Do you know the best way to stop the effects of bad reviews?

A)    Having an avalanche of great reviews to offset the few negative ones.

B)    Not have any negative reviews, period.

MYM Online Reputation Management (ORM) can help you achieve both.

Our Online Reputation Management solution contains a sophisticated customer-review funnel that generates a wealth of positive reviews for your company.

On top of that, it can also intercept negative reviews before they get posted for the world to see.

This gives you the opportunity to resolve the unsatisfied customer’s issue, potentially preventing them from leaving bad online feedback about you.

MYM ORM also monitors 170+ review websites. This includes the “big boys” like Yelp, Google, and Facebook, as well as local review websites of your choosing.

You’ll be alerted anytime your customers leave online reviews about you—good or bad. You’ll no longer have to fear if there’s a hidden bad review somewhere out there that’s hurting your reputation.

Go ahead, take the plunge into ORM with your fellow contractors.

The water’s fine.

P.S. How much do you think 750 glowing online reviews would increase your sales? And how the heck do you even get 750 online reviews? I’ll let you know tomorrow.

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