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More Than Four Negative Reviews About A Business Or Product May Reduce Sales By 70%
One negative review is enough for 35% of a site's visitors to choose not to purchase. 3 negative reviews can cost a business 59% less sales.
Obviously, they can be compensated by the large variety of positive reviews you receive.
"It takes many good deeds to build a good reputation, and only one bad one to lose it." -Benjamin Franklin
Source: Martech Zone
70 Percent Of Consumers Prefer To Find Out About A Business Through Posts And Reviews, Instead Of Advertisements
Advertisements are all well and good, however it's worth trying a different approach too. Reviews are by far the best method to discover the truth about a product or service.
Source: Statuslabs
If A Company Deals With Issues Rapidly And Effectively, 95% Of Dissatisfied Customers Will Go Back To A Business
Clients don't anticipate you to be perfect. They do expect you to resolve things when they go wrong. If there is nothing else a company can do to fix a problem, a simple coupon can say "We are sorry" in a more appealing way.
Source: SocialMediaToday
63.6% Of Customers Check Out Google To Look For Reviews Of A Business
Considering the last stat, it comes as a surprise that Yelp (45%) and TripAdvisor (30%) come 2nd and third, leaving Facebook (23%) last.
These online review stats show the basic popularity of a site can just go so far when it comes to trust.
Source: Review Trackers
Online Reviews Impact 67.7% Of Customer Purchasing Decisions
More than two-thirds of buyers agree online reviews are either a "Fairly decisive", "Very decisive", or "Absolutely decisive" part of their decision making process.
Source: Moz
64 Percent Of Americans Agree That User-generated Content (consumer Reviews) Enhanced Their Shopping Experience In 2017
30 percent of customers who check out consumer reviews, concur that it increases their purchasing confidence.
Businesses utilize the reviews to improve their products or services.
"We all need people who will give us feedback. That's how we improve." -Bill Gates
Source: Statista
Online Product Reviews About A Product Can Raise Its Conversion Rate By More Than 270 Percent
User review stats show the purchase probability for an item with 5 reviews is 270% higher than the same item without reviews.
Source: Spiegel Research Center
More Than Half Of Customers Won't Utilize A Company If It Has Less Than A 4 Star Rating
This stat is one of numerous that highlight the value of online scores. Now that news of client fulfillment travels this fast, keeping your consumers delighted is more crucial than ever.
57% of consumers have searched for companies with more than 4 stars in 2018, which is up from 48 percent in 2017.
Moreover, 11% looked only for services with a perfect five star ranking.
Source: Brightlocal
67% Of Customers Say Reviews Are A "Extremely Important" Factor When Selecting A Solution Provider
When consumers have to select a solution provider, reviews have a massive effect on their decision.
Source: DemandGenReport
70 Percent Of Customers Need To Check Out At Least Four Reviews Before They Can Trust A Business
4 reviews may be too few. The majority of people read many more reviews to get an idea of how the business is really doing. Do not depend on that figure alone.
Source: Brightlocal
95 Percent Of Travelers Read Online Reviews Prior To Booking Travel Related Services
Leisure and business tourists alike check out reviews to form an opinion. Business tourists read an average of 5 reviews vs. 6-7 for leisure tourists.
Source: Trust You
83% Of All Younger Shoppers Were Asked To Give A Review Recently
Of those invited, 80% of customers did submit a review. Overall, businesses have actually asked 66% of all customers to give a review on their business.
Source: Brightlocal