How to respond to negative review

It’s almost guaranteed that at some point a borrower will write a negative review about you. Many factors can cause borrowers to have a negative feeling about their deal. It’s okay to feel upset and angry, but while these are natural reactions, they won’t help your brand, your financial institution’s reputation or your social media presence.

What should you say? Respond as a professional with class. Most marketing and brand experts agree that responding to the negative review online in an appropriate way can help minimize damage to future business, and possibly even get the reviewer to give you or your lending institution another chance. By replying promptly and posting your response publicly underneath the original review, you can also help minimize the possibility of other potential borrowers being swayed by the reviewer’s experience. Future borrowers will see that you care about your clients and actively work to improve your business.

Remember: potential borrowers are reading your comments as wellas the negative review, and your response will help borrowers decide whether to choose you or move on to another lender. These exchanges have the potential to become heated, especially if you feel the review was undeserved, but you must remain sincere and not defensive in your response.

Sometimes simply apologizing and thanking the customer for taking the time to share their issues can go a long way. 

What you shouldn’t say?  Don’t be defensive and list every reason the customer didn’t close or give out personal nor private information like asset/monthly income. Be very careful if you feel the reviewer’s comments are inaccurate and you wish to address them publicly, as this can come across as unprofessional or lead to an unpleasant exchange. If you choose this route, you should carefully and factually respond with your side of the story without sharing personal and private information about the borrower. Rise above and don’t be overly defensive or accusatory. State the facts as you see them while being professional and courteous.  

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