Is a high Google Review a good indicator of a well-managed business?
It’s debatable. It could be just a sign of an excellent reputation management system or a higher level of engagement with customer reviews.
As a rule of thumb, though, Google Reviews don’t seem to be a bad indicator of a well run business. That’s according to the 2024 INSTORE Big Survey, which found a clear correlation between the stores we identified as Thrivers – those who had reported their best year in business in the previous 18 months – and those we dubbed Strugglers – those that had just experienced their worst year – when it came to Google Review ratings. Seventy-one percent of the Thrivers maintained 5-star ratings, compared to only 28% for the Strugglers and 51% for “all jewelers”. The implication? The Thrivers provide better service than the Strugglers. And and satisified customers equal a better performing businesses.
NOTE: The INSTORE 2024 Big Survey was conducted via an anonymous online form from mid-August to late September, attracting more than 700 responses from American jewelry-store owners and managers. The full results will be published in the November edition of INSTORE.
