as this study by The Kelsey Group Online Consumer-Generated Reviews Have Big Impact on Offline Purchases reported in Marketing VOX shows.

The numbers are significant both in terms of influence on product and services selection but also the price people are willing to pay based on reviews. This is especially evident for restaurants and hotels but also other industries.

It is absolutely no longer an option to not be totally aware of what is said about you in the conversation that takes place in social media today.