Stats and studies have shown that businesses with more positive reviews tend to generate more revenue than businesses with fewer reviews. One study by Cornell University found that a one-star increase in a business's Google rating can lead to a 5-9% increase in revenue. Another study by Womply found that businesses that respond to their reviews at least 25% of the time average 35% more revenue than businesses that don't respond to reviews at all.
So, how many reviews does Made In Shade franchises need to see a significant increase in revenue? According to a study by BrightLocal, businesses with 40 or more reviews tend to generate more revenue than businesses with fewer reviews. However, even a small number of positive reviews can make a big difference. For example, a study by Grade.us found that businesses that receive just one positive review can see a 12% increase in revenue.
Of course, the quality of the reviews is also important. A business with a few negative reviews that are never addressed is likely to see a decrease in revenue, even if it also has a lot of positive reviews. So, it's important for Made In Shade franchises respond to all reviews, both positive and negative, in a timely and professional manner.
Overall, there is a clear correlation between the number and quality of Google reviews and a business's revenue. Made In Shade franchises that take the time to gather and manage their reviews are likely to see a significant increase in revenue.
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