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Fifty Percent Of All Millennial's "Always" Read Online Reviews For Businesses
Younger individuals know the value of being informed. User-generated content has an unassailable impact on customers.
They will recognize what they've been missing out on if businesses stop to consider the power of customer reviews over millennials. Older people are different though, only 6% of people aged 55 or older check out reviews.
Source: Brightlocal
More Than 4 Negative Reviews About A Company Or Service May Reduce Sales By 70%
One negative review is enough for 35% of a site's visitors to choose not to purchase. Three negative reviews can cost a business 59 percent less sales.
Of course, they can be compensated by the sheer number 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
Online Item Reviews About An Item Can Raise Its Conversion Rate By More Than 270%
User review stats reveal the purchase probability for an item with five reviews is 270 percent higher than the very same item without reviews.
Source: Spiegel Research Center
91 Percent Of Millennials Depend On Online Reviews As Much As Loved Ones
Online review stats position customers' reviews as the most trustworthy source of recommendations. Online reviews typically carry the same weight as suggestions from family and friends.
Source: Brightlocal
63.6 Percent Of Consumers Visit 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%) at the end.
When it comes to trust, these online review stats show the basic popularity of a site can just go so far.
Source: Review Trackers
95 Percent Of Travelers Read Online Reviews Prior To Reserving Travel Services
Leisure and business tourists alike read reviews to form an opinion. Business travelers check out an average of 5 reviews vs. 6-7 for leisure tourists.
Source: Trust You
53% Of Consumers Expect Businesses To Respond Within A Week To Negative Reviews
Online review stats clarify that 63% of customer reviews stay without a reply. That's too bad, due to the fact that those companies are losing clients that way.
Source: Review Trackers
A One Star Boost In Ranking Can Lead To A 5% To 9% Boost In Business Earnings
Businesses that treat customers fairly typically flourish, review websites help ensure of that.
Source: Statuslabs
Clients Could Spend 31 Percent More With A Business That Has Fantastic Reviews
Take notice of this fact. The better other users explain your product or service, the more cash you can charge and customer review statistics reveal to us exactly just how much more.
Source: Martech Zone
Reviews Are The 3rd Most Influential Ranking Aspect For Google's Local 3 Pack
Review signals (quantity, diversity, etc.) account for 15.44% of Google's algorithm for local ranking.
Only Google My Business signals, like distance and keywords account for 25.12%, and link signals at 16.53%, are more vital than reviews as far as ranking aspects go for the local 3 pack.
Source: Moz
83% Of All Young Buyers Were Asked To Give A Review Recently
Of those invited, 80% of consumers did give a review. In general, businesses have asked 66% of all clients to submit a review on their company.
Source: Brightlocal
30% Of Clients Feel Comfortable With A Business Which Responds To Online Reviews
Communicating with your customers builds their trust. Even something as simple as reacting to their comments and reviews can make them feel appreciated.
As you may anticipate, clients who feel this way are more willing to spend more money with a business.
Source: Statuslabs
90 Percent Of Individuals Need Less Than 10 Reviews To Form A Viewpoint About A Business
You know what individuals state about impressions, right?
Users get their first impression of your businesses through reviews. Generally through less than 10 of them.
Think about asking your visitors to compose one if you don't have reviews on your site.
Source: Martech Zone