Podcast Beta
Questions and Answers
What percentage of consumers trusts online reviews as much as personal recommendations?
What impact does an 'excellent' review have on customer spending according to the content?
What reputation traits are deemed most important for a local business?
What is the estimated effect of a one-star increase on Yelp for business revenue?
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What percentage of people will hesitate to purchase from a business with negative online reviews?
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What is the first stage in Lewin's Change Model?
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The ADKAR model focuses solely on organizational change.
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List two causes of resistance to change.
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The step in Kotter's 8-step process that emphasizes developing a strong team to support the change initiative is called ______.
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Match the changes models with their focus:
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Which strategy can help overcome resistance to change?
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Effective communication channels do not need to be varied to reach all stakeholders.
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What is the importance of engaging stakeholders early in the change process?
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Study Notes
Importance of Online Customer Reviews
- 90% of consumers read online reviews before visiting a business.
- 88% of consumers trust online reviews as much as personal recommendations.
- Customers are more likely to spend 31% more on a business with “excellent” reviews.
- 72% of consumers say positive reviews make them trust a local business more.
- 92% of users will use a local business if it has at least a 4-star rating.
- 72% of consumers will take action only after reading a positive review.
- Reliability (27%), expertise (21%), & professionalism (18%) are the most important reputation traits for a local business.
Impact of Reviews
- 86% of people will hesitate to purchase from a business that has negative online reviews.
- On average, a one-star increase on Yelp leads to a 5 to 9% increase in a business’s revenue.
- A single negative review can cost a business about 30 customers.
- 26,380 reviews are posted every minute on Yelp.
- 98% of Yelp users have made a purchase at a business they found on Yelp.
- 80% of Yelp users visit Yelp because they intend to make a purchase.
Dealing with Negative Reviews
- Respond to negative reviews promptly and professionally.
- Acknowledge the customer's concerns and apologize for any inconvenience.
- Offer solutions to resolve the issue if possible.
- Avoid getting defensive or arguing with the reviewer.
- Maintain a professional tone.
Change Models
- Lewin's Model outlines three stages of change: Unfreeze (preparing for change), Change (implementing the change), and Refreeze (solidifying new practices)
- Kotter's 8-Step Process focuses on a structured approach to change with steps like creating urgency, communicating the vision, and generating short-term wins
- ADKAR Model shifts focus to individual change through Awareness, Desire, Knowledge, Ability, and Reinforcement, ensuring successful change at the personal level to support organizational change
Stakeholder Engagement
- Identifying Stakeholders involves assessing their impact and influence on the change initiative, classifying them as champions, resistors, or neutrals.
- Engagement Strategies focus on early involvement to foster buy-in, using feedback loops to address concerns, and building trust, open communication, and addressing needs/expectations.
Resistance to Change
- Causes of Resistance stem from fear of the unknown, loss of control, lack of trust in management, and perceived negative impacts on job roles or security
- Types of Resistance include active (open opposition) and passive (indifference or lack of engagement)
- Strategies to Overcome Resistance involve clear communication, employee involvement, and support through training and resources
Communication Strategies
- Effective Communication involves a clear, consistent message about the change, tailored to different audiences
- Channels of Communication utilize multiple methods (emails, town halls, newsletters) for regular updates and engagement
- Feedback Mechanisms provide avenues for employees to express concerns and involve surveys or focus groups for insights into employee sentiment
Change Implementation Processes
- Planning defines objectives and outcomes, creates a timeline, and allocates resources effectively
- Execution involves breaking changes into phases or milestones, monitoring progress, and adapting strategies
- Evaluation assesses the impact of change on performance, and identifies lessons learned for continuous improvement
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Description
Explore the significance of online customer reviews and their influence on consumer behavior. This quiz reveals statistics about how reviews affect trust, spending, and business reputation. Test your knowledge on the powerful role that reviews play in local businesses.
