The BBC asked online reputation experts, Igniyte, on the BBC Breakfast show to offer expert comments on the release of a new Competition & Markets Authority (CMA) investigation report.
The report covered an investigation the CMA launched in February 2015 into fake online reviews and paid endorsements. The CMA asked Igniyte to help them in the investigation and contribute research data obtained from The Reputation Report.
The investigation found that some companies are writing or commissioning both positive and negative reviews online to boost their own ratings on review sites and to undermine their rivals.
The impact on businesses – especially in the hospitality industry – can be disastrous, with Igniyte’s research on the Business of Reviews revealing that one in six UK businesses believe a malicious review could destroy their business entirely.
Igniyte explained that for larger companies with marketing departments and a sizeable marketing budget – they’re often well-equipped to respond to negative comments and can fight bad press with good press; but for smaller companies – such as restaurants – a bad review can be disastrous, putting off potential customers and causing huge financial losses.
They went on to say that the CMA investigation is a positive step forwards for genuine online reviews and for the consumer to gain a true representation of a company.
For Igniytes’s advice on how to deal with negative reviews; get in touch at email@example.com or call on +44 (0) 203 542 8686.