Benefits for businesses

• 97% of business owners state that online reputation management is important to their business

• 41% of consumers say that reviews play a big role in their decision making process when choosing a local business

• 87% of consumers say that reviews influence them to discover local businesses

• 58% of customers would go to a farther location if a business has great reviews

• Harvard Business School (2015) states that a one-star increase in Yelp ratings translates into a 5% to 9% increase in revenue for restaurants

A common strategy for business owners is to explicitly ask customers for a positive review, which ironically lessens their positive feeling towards the experience. Thanks to WeRate, reviews are automatically incentivized, which removes the need to bother customers and allows business owners to focus on what they do best: provide amazing services.

By incentivizing people to go out and interact with their favourite venues, we drive more customers and revenue to businesses. By rewarding every single review, people may consider this effort as an added bonus to their coveted night out. The social aspect of WeRate further compels consumers to enjoy a night out, instead of having dinner on their couch. These customers are mostly crypto natives, a target group that is in general financially strong and hard to reach for traditional businesses.

Because the quality of our reviews are much higher due to incentivization, businesses will get more value from reviews to adjust their operations and improve their services. With less fake and extreme reviews, and more genuine experiences recorded, we harness a qualitative feedback loop between customer and business owner.

WeRate will provide businesses with additional valuable insights in their customer base. Examples are users that liked their venue, data analytics on customer behaviour, insights into competitors and much more. The insights can be used to improve their services, but also to target their customers through promotions, advertisements and invitations.