Of course, positive feedback can boost business, but the survey also shows that negative feedback can have a direct fiscal drain on companies. 86% of potential customers, for example, said they would think twice about buying a product from a firm with a bad online image. Looking deeper, an added star on reviews creates a 5% to 9% average increase in revenue for a business, but just one bad review could result in a company turning away approximately 30 customers. ICMediaDirect notes that receiving positive reviews online leads quickly to more sales.
Online Reputation Management Journal