One negative review seen by 20 people costs you $20,000 in lost customers if your client lifetime value is $1,000. A quick refund, phone call, or voucher fixes it. Address bad reviews this week, not later.
One negative review can cost you $20,000. Stay with me for the full math. Let's imagine the lifetime value of your client is $1,000, not per purchase, but for the entire time they use you. One franchisee has a bad day, they make a mistake, it results in a negative review. 20 people read this negative review, so you lose 20 potential customers, not just one, and that is $20,000 of missed revenue. You know what stinks the most? You could have prevented that with one refund, one phone call, or one voucher. Go and read your negative reviews, not this quarter, this week,
