Brian Williams is president and founder of Five Star Economy, which helps businesses build their reputations online, as well as protecting them from being wrongfully tarnished by fake or frivolous reviews. “Reviews have changed the landscape of what has become important from a marketing perspective,” he said. “Brightlocal.com reported in 2016 that 93 percent of consumers look at six to 10 online reviews before they make a contact or purchase from a business. This is no longer something that can be ignored.”
How have online reviews changed marketing and advertising for small-business owners?
Online reviews have become an essential component of every business marketing strategy. Consumers no longer take for granted what a business says about itself on a website, in advertisements, blogs or press releases unless that information is backed up by what customers, clients or patients say online in an unfiltered review.
The unfiltered component of an online review is so powerful that it can and does increase or decrease a buyer’s likelihood to purchase service by two to four times. We are seeing reviews significantly influence consumer behavior across dozens of businesses.
Online reviews started with ecommerce sites, then migrated to entertainment and travel. Today, the reviews matter for virtually every type of business. In the minds of the buyer, it looks like the same rating scale they are used to when they shop for something like a lamp.
What types of mistakes do you see small-business owners make in marketing/advertising and what are some inexpensive, simple ways they can expand their customer base?
A big mistake small-business owners make is not getting immediate, unfiltered feedback from their clients and not using that feedback to make immediate and necessary changes in their businesses.
Identify who your raving fans are as a business and use the subset of your customers who are your raving fans to help you. Those who respond to requests for feedback can be used as referral sources and brand champions. We’ve all heard that our best source of new business is existing customers. Today, you can find out through simple techniques who your raving fans are. Reach out to your customer base and do it in a timely fashion. Use that to build a base of highly valuable referral sources, and use that information to remarket other products and services. Your raving fans want to buy more from you. A business is letting their customers down if they don’t have something to offer their raving fans. Sell more, ask for referrals and, if you can, reward them for referrals.
What is the best business advice you’ve received?
1) Wake up every day being aware that you could lose your best customers in a heartbeat. This motivates you to take care of everyone and do more than you think it is going to take to retain those relationships, which are the lifeblood of your business.
2) Automate and systematize everything you possibly can in your business so that what’s working can be repeated over and over again. Automation also can come in the form of human resource automation by hiring people who can be trained in processes that work.
3) Know your numbers. Not unlike a sports team during the fourth quarter of a game, know what you need to do to achieve your win. It may be a revenue goal and involve a certain number of contacts, appointments, sales calls or face-to-face meetings. Know those numbers and track everything so you know with certainty you will achieve your goal.
What’s the biggest issue facing Southern Nevada?
One important issue has to do with our health care industry. We need to make sure as our economy continues to grow that we can provide great health care to everyone here. We need to focus on our infrastructure for medical residency programs to attract quality medical professionals who want to stay here. We need to get behind groups like Las Vegas HEALS and support lawmakers to be sure our families can have the best medical care available as we continue to grow.
Where do you see yourself in 10 years?
In 10 years, I’ll be 58 years old. At that point, all of my kids will be out of college or completing college. I would like to see myself traveling the world and really enjoying my senior years with my wife, exploring more of the outdoors. I would love to see our business serving thousands of highly respected businesses in the country, as well as having a really great team of employees that feel like they are family.
What is your dream job outside of your current field?
As an avid outdoorsman and someone who volunteers for youth programs like Boy Scouts of America, I would love to lead teenagers in fully immersive leadership and personal development retreats in the wonderful outdoors.
If you could live anywhere else in the world, where would it be?
Door County, Wis. We used to spend many weekends there and loved it in the winter, summer and fall. I’d love to have an 80-acre plot of undeveloped land to build our dream cabin, enjoy fishing on Lake Michigan and attend fish boils at local restaurants. It’s an easy way to feel like you have gotten away from it all but still have access to international travel.
What is something that people might not know about you?
I had an opportunity when I was in my late teens to train with the Olympic swim team in California. I swam in the same pool and trained with some winners that went on to become Olympians. Some people might not know that I’m an Eagle Scout and it’s a big part of my life. I have a passion for helping young men get through the challenges of their younger years and learn to do things they might not otherwise have been able to do.
Anything else you want to say?
Don’t wait as long as I did to follow your entrepreneurial passions in life. People tend to avoid their true passions because fear and doubt sets in. Be courageous over and over again. One of the things I am hopeful for is that more people will step out of their comfort zone, be courageous and take on their passions.