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7 Ways to Use Negative Customer Feedback to Beat the Competition

“Your most unhappy customers are your greatest source of learning.” — Bill Gates
Negative feedback from customers can be a hard pill to swallow. It often feels unjust, unhelpful and inaccurate. Even the most professional business owners can be defensive and emotional in the face of criticism. And while business owners may intellectually know negative customer feedback is critical to improving their business — a 10-percent increase in Net Promoter Score (NPS) can correlate with a six to seven-percent increase in revenue — the hard bit is constructively incorporating it.
Related: Got a Bad Yelp Review? Here’s What to Do
The following are seven things every business, small or large, can do to extract as much value as possible from negative feedback.
1. Gather competitive intelligence.
While you likely monitor your own reviews closely, it’s also important to scour the public reviews of competitors. By reading their reviews, especially negative ones, it’s possible to get a sense for how your products and services stack up to theirs and see if their customers have similar complaints. Careful reading of competitor reviews can also help you determine their weaknesses and find opportunities to win over their customers.
2. Benchmark performance against industry.
If 60 percent of your customers are very happy with the service they received, is that good? How does it compare to others in your industry? SurveyMonkey offers a tool to help you gauge this using their benchmarks. Similarly, some review sites offer detailed customer ratings on metrics such as service, value, quality, returns and shipping, which can also be used to benchmark performance. Read full article here…

Entrepreneur definitely puts out some great information. One of the most important points that we agree with is to train employees!
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