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Speaker 1: Because people trust brands more when they display actual, true

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negative reviews from real customers, because then they know they're

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not gaming it. So if they see some real negative

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reviews from real customers that don't manipulate like you said,

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where it's a negative but it's a positive, then they

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trust the company more, and they trust the other reviews

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more because if they only see five star reviews, there's

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no way. There's no perfect company. Yeah, there's no five

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star company, right, we all know that. But if you

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only show five star reviews and a five star rating,

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your trust goes out the window.

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Speaker 2: You're listening to Carrie.

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Speaker 3: Let'sa's financial survival Network where you get valuable information you

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just can't find anywhere else to thrive in today's trying times.

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You need the Financial Survival Network now more than ever.

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Go to Financial Survivalnetwork dot com and get your free

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newsletter and gift. Financial Survival Network now more than ever.

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Speaker 2: And welcome you are listening to and watching the Financial

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Survival Network. I'm your host, Carrie Lutz. Well, when it

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comes to reputation, when it comes to buying online or

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buying in a store, reputation is everything. And if you're

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in business and you're doing well, the odds are you

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have a good reputation and why is that important? Well?

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DJ Sprague, Scott Brandy, two experts in the space, are

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here with us now to really explore this. And Scott,

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you mentioned when you're buying some gold and silver from

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a company you don't know, reputation is everything because you've

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got to send your money to that dealer before you

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even get the stuff shipped, and they're going to hold

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your money for at least a week to make sure

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you can't back out the ach or the wire transfer.

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So determining a company's reputation is everything, and it's not

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just as simple as doing a Google search, is right.

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Speaker 4: Yeah, there are a lot of brought out there, right,

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and especially when it comes to gold and silver high

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ticket items. You know, there's a lot of shady characters

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and businesses that will take your money and not give

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you what you actually wanted. So one of the most

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important things you can look for is trust signals, and

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one of those one of the biggest things there is

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ratings and reviews, which is kind of what we.

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Speaker 2: Do all right, So ratings reviews. My son almost got

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a job one time with this company called Trust pilot

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much bigger in Europe than in the United States, but

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they seem to be catching on here in the United States.

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But you need to be your own trust pilot, right

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You need to figure out the trust even in the

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absence of others who say you can trust this person

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or company.

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Speaker 4: Yeah, So there needs to be especially when it comes

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to high ticket items like golden silver, you really need

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to look for a third party rating and review company

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that is trustworthy.

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Speaker 2: And there are there's.

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Speaker 4: A few that I would recommend, including us, but there's

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also a lot that I wouldn't recommend. And there's different

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things you can look for on it as far as

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ratings and reviews go, so that you know if you

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can trust a company or not.

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Speaker 2: Yeah. Well, I would just say when it comes to

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buying gold and silver, I'm going to do this a plug.

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He's not a sponsor, but we do. He is an affiliate.

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I'm an affiliate marketer of his, and that is Miles Franklin.

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I know Andy Shackman, personal friend of mine, been working

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with him for going on fifteen years. And if you

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look up the company Miles Franklin Precious Metals Investments, you

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will find that he's never had a Better Business complaint

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in thirty five years, and he's never had a lawsuit

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during that time. So if you're looking for third party

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validation and you're thinking of buying gold, you get over

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to Miles Franklin dot com and you tell them that

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I sent you, so I can make a couple bucks too.

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But because I know, and I crafted this this tagline

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for him, which is when you buy, they ship, because

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the jails are full of gold, gold, and silver fraudsters

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stealing your money and never shipping. So anyway, I'm just

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putting that plug in for Andy, and he's, like I said,

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great friend, totally honest, above board. How many How do

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you find people like me to give companies recommendations like that? Guys?

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Speaker 4: Right, Yeah, it's it's tricky. That is a form of trust, right,

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A personal recommendation from an expert is a form of trust.

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The Better Business Bureau, the fact that he didn't have

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he hasn't had any complaints, that's a form of trust.

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And so you just got to look for those kind

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of things when you're buying online.

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Speaker 1: Okay, Well, you want to look at multiple review platforms too.

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There's a lot of companies that collect their own reviews,

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and by collecting their own reviews, they're also able to

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delete any review they don't like, so you'll see only

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four and five star reviews, are only five star reviews,

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and all of the less than perfect reviews are deleted.

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So you want to make sure that if you're collecting

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ratings reviews as a website or e commerce store, you're

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working with a Google review partner, because as a Google

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review partner, you cannot delete the negative reviews and that's

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a big, big form of trust. And also working with

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a Google review partner like shopper Approved, you'll plug for us.

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We have a unique ability to send reviews to other

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review platforms like trust Pilot, like Better Business Bureau, like

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recelerating site Jabber, etc. So that your reputation can be

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distributed across the web and not just on your own website.

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And we like to say that if you only have

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reviews on your website and nowhere else, then they're basically

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an island and nobody sees those reviews unless they go

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to your website. But then the question is can they

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believe those reviews if they're not also showing up on

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other platforms. So those are some good trust signals and

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Scott and I wrote a book called Reputation King that

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talks all about the review industry and how to leverage reviews,

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how to create a positive online reputation, how to syndicate

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reviews across the web, and how to really make sure

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that you're putting your best foot forward, not in a

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contrived and manipulated way, but in a positive and accurate way.

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Speaker 2: Okay, so you know like websites like Yelp, right, they

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do restaurant reviews, right, and you know then they're playing

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the other end where oh you want to get rid

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of them, you know, by a sponsorship here advertised with Yelp.

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You know, I remember Amazon. There's a group that I

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knew that was attempting to manipulate the the review mechanism

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there and using people in China, virtual private networks, all

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of this, and for a time it worked. They were

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doing amazing, but then they were dumb. They had a

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private Facebook group where people swapped reviews about products and services.

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Amazon I think it was Facebook routed them out to Amazon.

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They wound up getting sued and that was the end

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of their course. But they made several million dollars in

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the process. US reviews are tricky, but a lot of

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the site's reputations rely upon these reviews and they police them. Yelp,

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I take those reviews with a grain of salt, because

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you could get a lousy meal at the best restaurant

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on the planet and you write a lousy review, and

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what does that tell you?

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Speaker 4: Right, Yeah, well, Carrie, you're up to something. There's actually

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two different types of review platforms online and most consumers

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don't know that, but you just talk to that. So

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there's open review platforms where anyone can leave a review,

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like yelp or trust pilot, and then there's verified review

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platforms where only people that actually buy from.

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Speaker 2: That company can leave a review.

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Speaker 4: And consumers aren't aware that there's two different types of

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platform and so they do go to places like yelp

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or trust pilot, and it's kind of a mixed bag.

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Like you were saying, like you just don't know if

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those reviews are manipulated, if their competitor is actually review

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bombing them, right, or if they're paying, like you said,

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to these other third party companies to actually add fake

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reviews to their account. So you have to be really careful.

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Speaker 1: Well, the other part of that with Yelp specifically, and

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they've been sued multiple times. You can look this up.

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It's public information. But unfortunately the courts always side in

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their favor because they say, look, it's a private enterprise.

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They have a private, proprietary review algorithm, and we can't

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control it. The courts cannot control their private algorithm. The

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way their algorithm works is if you're paying client, then

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the negative reviews are weighted less in the algorithm and

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the positive reviews are waited more in the algorithm. The

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minute you stop paying, literally immediately, it swaps. The negative

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reviews are weighted more in the algorithm and the positive

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reviews waited less. So it's literally the mafia. It's the

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review mafia. You have to pay to play, and that's

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how Yelp works, and that's just what it is.

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Speaker 2: And if you're a restaurant, you almost have no choice. Now.

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One thing, guys, when I look at a series of reviews,

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I don't like to see all good reviews, okay, so

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giving one lousy review can really enhance the credibility of

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all the positive reviews. And some of these guys are

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really sneaky because they will write a negative review, a

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three star review in the most positive of terms, like

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you know, even though I didn't like the product that much,

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they were always on me with customer service, responding positively

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and doing everything that a company should do. So it's

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called like damning them with faint praise or the opposite

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of that, which I don't know what it is, but

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elevating them with faint criticism. I guess it's.

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Speaker 1: Interesting you mentioned that, Karrie, because there's a couple of studies.

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One study found that when people read negative reviews, they

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convert at a seventy nine percent greater conversion right. Another

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one says that when people read the complete negative reviews,

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they convert at one hundred and eighteen percent higher conversion rate.

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Why is that Because people trust brands more when they

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display actual, true negative reviews from real customers, because then

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they know they're not gaming it. So if they see

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some real negative reviews from real customers that don't manipulate

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like you said, where it's a negative but it's a positive,

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then they trust the company more, and they trust the

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other reviews more because if they only see five star reviews,

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there's no way there's no perfect company. Yeah, there's no

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five star company, right, We all know that. But if

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you only show five star reviews and a five star rating,

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your trust goes out the window. In fact, research says

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that the sweet spot is an average star rating between

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four point two and four, and that's really where you

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want to be. You don't want to have a perfect

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five star rating.

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Speaker 2: No, it's so true because it's a credibility builder and

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people don't like perfection. But yeah, so let's talk about

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just thinking about that. Like company like Overstock, it's not

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unusual to see products listed on their website to have

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lousy reviews like twos or threes, you know, And to me,

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it's like, hey, that that is the ultimate credibility builder

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because then when I see there's one hundred four and

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a half store four point eight store reviews, a much

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more app to believe it. Yeah, you and everybody else. Yeah,

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it's really the way it works.

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Speaker 1: And here's the other check about negative reviews, Carrie, is

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respond to every negative review because people look at negative

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reviews almost more than they look at positive reviews because

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they want to see how bad is bad? Is the

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product absolutely deplorable or did it just arrived in a

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you know, torn up package, but the product is great?

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They want to see how bad it is and what

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they can expect. But what they really want to see

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is how did the brand respond to that review or

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that complaint or that criticism. And if you have let's

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say ten negative reviews and you don't respond to any

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of them, then the consumer thinks, oh, they're not a

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responsive customer centric brand. But if, on the other hand,

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the brand responds to those and say, hey, Carrie, sorry

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that the package arrived, you know, in a damaged box.

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Will ship you out another one or whatever, you know,

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We'll take care of you. However, many nine percent of

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our clients are very happy. Look at our positive reviews,

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our three two hundred and twelve positive renews, So you

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flip that. But the main thing is the customer wants

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to know how bad is bad, and the brand is

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actually reading, listening and acknowledging it responding to those issues.

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If they goost those customers, then people feel, well, fiber.

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Speaker 2: Problem, I can take care of me either. So it's

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really important to resland totally. So you know, one review

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that I see, one negative review that I see is

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the crank. The crank negative review where you know, the

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guy is just annoying and he's not going to be

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happy with anything or she for that matter. And that's

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also a credibility builder because you read it and you say, well,

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if that's the worst somebody had to say, that ain't

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so bad, and then and then that actually enhances the

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credibility of the company.

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Speaker 1: Right, that's exactly right. People complain about the most ridiculous things.

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You see reviews all the time and one star rating

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because it arrived the day later than they thought of

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what was going to arrive a one neighbor house, right, God, yeah,

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left at my neighbor's house.

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Speaker 2: Like, hey, they're not ups, they're not the post office.

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They shipped it to you. I got it eventually, What

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are you bitching about? Right?

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Speaker 1: Exactly exactly, And that's one of the reasons people read

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negative reviews for those things like really, is it the

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product or is it the ups or or the call?

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Speaker 2: It is her?

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Speaker 1: Yeah, the or the customer? Is it the person at

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a bad day?

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Speaker 2: So what are some real red flags though that you

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look at and reviews and online reputation and you say, no, Moss,

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skip this one. We don't want to know about them.

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Speaker 4: Well, I would say not if you if a if

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a company has very few reviews or if they don't

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have reviews from a third a trusted third party site,

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that's a big red flag. You want to find a

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company that has a lot of reviews. And the second

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thing we talked about, you don't want a company with

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just five stars. You want to have some a company

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that's got somewhere between, like you just said, four point

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two to four point seven, and you want to look

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at the one stars and make sure that they're responding

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the companies responding to those one stars, and that they're

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showing some empathy and really trying to help those clients.

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If it's just you know, just a plug, you know,

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automatic response type thing that doesn't do any good either, right,

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you want you want to make sure that they're actually

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taking time to write a custom response to those one

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and two star reviews. And then also triangulate, you want

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to do a search for that company online, so ABC

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dot com reviews and see if they have what their

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views look like on other review platforms that pop up,

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and if it's consistent across the board and they have

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a lot of really good reviews in that range and

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they're taking care of their clients, it's a trustworthy company.

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Speaker 2: All right. And hey, can you name a company that

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like manipulated all the algorithms and everything and really put

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one over on the clients and the customers and you

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almost got away with murder.

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Speaker 1: There's lots of lawsuits about that. As you know, you

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mentioned Amazon earlier. A lot of people have sued companies, well,

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the the uh, it's actually illegal.

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Speaker 2: It's it's illegal advertising.

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Speaker 1: It's manipulative advertising to bury negative reviews and only show

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positive reviews. If you're caught, you could literally be sued

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for that for false advertising, manipulating the consumer into thinking

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you have a better product than you really do. We

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don't want to mention brands, but there's lots of brands

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that have that have tried that. And you know that

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Amazon is constantly trying to identify and penalize or kick

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off the platform companies that manipulate the reviews, buy reviews,

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et cetera from people that weren't even customers, because it's

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a real big problem. So you know, you got to

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look at that. But you also, here's the other trick

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key thing, Kerry, is there's also been a situations where

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a brand took a position, a political position, religious position, whatever,

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they took a position, and then the opponent, you know,

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the party or the group or the religious group or

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what have you that didn't like that position bomb bass

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that company even though they didn't buy from that company,

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and they kind of get on their little phone trees

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and email trees and say, hey, leave a negative review

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for you know, ABC dot com because they said this

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and they don't support that. And that's the problem with

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open review platforms is it become a complaint board for

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people that aren't even real customers. So when we say

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a verified review platform, you really want to work with

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a platform that collects reviews from verified customers, which means

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post purchase, they actually purchase the product, then they get

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the opportunity to leave a review. But if you can

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go to trust Pilot, for example, and not even be

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a customer and leave a negative review or a positive review,

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is there any validity in that? Is there any credibility whatsoever?

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If you don't have to show proof of purchase, it's

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just an opinion. It's not really a review because there's

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no proof of purchase behind that review. So those are

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some of the things.

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Speaker 2: You gotta look at, all, right, And yeah, you see

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that on Amazon unverified, or you know verified purchase and

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you know you want to see that they really did business,

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So all right, right as well, Hey, how do we

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find out more about you? How do we get your book?

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Speaker 1: Yeah, go to Reputation King dot com and you can

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download the free audio and video version of the book.

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You can also buy the book for twenty dollars. We

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ship the hard copy book with some other fun goodies.

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Twenty bucks include shipping, handling the book the whole bit,

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00:19:47,079 --> 00:19:49,240
or you can download the digital audio copy. You can

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also go to shop or approve dot com and learn

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00:19:51,960 --> 00:19:56,920
more about our verified rating review platform or a Google

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00:19:56,960 --> 00:20:00,319
and being review partner, so we send a eight our

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00:20:00,359 --> 00:20:03,160
reviews to both the search engines Google and bangsh helping

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your Google ads, your organic listings, your Google shopping, et cetera.

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00:20:07,839 --> 00:20:10,319
And we wrote the first and only book in the

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entire world on e commerce reputation management because that's what we.

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Speaker 2: Do and it's in our DNA. All right, Well, we appreciated. Hey.

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Link is in the show notes this interview on Financial

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00:20:22,519 --> 00:20:26,519
Survival Network dot com and make sure when you go

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00:20:26,640 --> 00:20:29,720
there you sign up for your free newsletter. Like seventy

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00:20:29,759 --> 00:20:32,759
five thousand other FSN numbers have done. I think close

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00:20:32,799 --> 00:20:35,960
to seventy five thousand and If you're getting questions for

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00:20:36,079 --> 00:20:39,680
myself or the guys, here kl at Carrie LUTs dot

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00:20:39,720 --> 00:20:42,960
com is the email address. Appreciate you guys coming on.

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00:20:43,079 --> 00:20:46,880
DJ and Scott wish you the best. Thanks Gerry, thanks.

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00:20:46,720 --> 00:20:51,039
Speaker 3: For listening to Carrie Letz's Financial Survival Network, your solution

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00:20:51,319 --> 00:20:55,160
to today's trying times. For the latest, go to Financial

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00:20:55,240 --> 00:21:00,839
Survivalnetwork dot com. Financial Survival Network now more than ever,