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A Single Business Review Can Raise Its Conversions By 10%
Online review stats reveal user-generated material can do miracles in terms of conversions.
A single review can have a substantial influence on your business.
A hundred reviews can increase your conversion rates by as much as 37%. Two hundred can offer a mind-blowing 44% increase.
Source: RevLocal
88% Of Executives Consider Reputation Risk As A Leading Business Issue
Reputation management statistics suggest a business's reputation does not affect just the consumers. Prospective employees also look at rankings and read reviews.
Source: Deloitte
If It Has Less Than A 4 Star Score, More Than Half Of Customers Won't Use A Company
This stat is among numerous that show the importance of online ratings. Now that news of client fulfillment travels this quick, keeping your customers happy is more vital than ever.
57% of consumers have looked for business with more than 4 stars in 2018, which is up from 48% in 2017.
Moreover, 11 percent looked just for companies with a perfect five star ranking.
Source: Brightlocal
If They Were Asked, 77% Of Customers Would Certainly Submit A Review
More than a 35% would submit a review to advise others about their client encounter and 24% would probably direct their review to the company itself.
Over a 26% would be willing to leave a review to help other people with their decision making process.
Source: Podium
Negative Reviews Can Improve Conversion By As Much As 85 Percent
It sounds crazy, however negative reviews can be a positive driver for users to spend more time on your site. According to online review stats, individuals devote more than five times as long on a website when they check out negative reviews.
When there are a mix of positives and negatives, more than two thirds of users trust reviews more. If there aren't any negative ones, a frustrating 95 percent suspect censorship or fabricated reviews.
Source: Reevoo
Online Item Reviews About A Product Can Increase Its Conversion Rate By More Than 270 Percent
User review statistics show the purchase likelihood for an item with 5 reviews is 270% higher than the exact same item without reviews.
Source: Spiegel Research Center
98 Percent Of Yelp's Site Visitors Bought From A Business They Found On The Site
Usually, 142 million consumers visit Yelp monthly. This is as great a time as any if you haven't claimed your totally free Yelp business page.
Source: RevLocal
77% Of Users Do Not Rely On Reviews That Are Older Than Three Months
Consumers don't care how excellent your service or product was in the past. Part of why online reviews matter is because they are relevant and fresh.
Customers understand businesses lose their touch all the time, which is why the majority of them find older reviews irrelevant.
It is for this reason that businesses should to be continuously requesting reviews.
Source: Statuslabs
63.6% Of Consumers Go To Google To Look For Reviews Of A Business
Thinking about the last stat, it comes as a surprise that Yelp (45%) and TripAdvisor (30%) come second and third, leaving Facebook (23%) at the end.
When it comes to trust, these online review statistics reveal the basic popularity of a website can only go so far.
Source: Review Trackers
Consumer Reviews On Items Are Trusted Practically 12 Times More Than The Makers' Descriptions
Word-of-mouth reviews are miles ahead of the producers' description. People trust other peoples viewpoints before they ever trust what the producer says. The reason, manufacturers' descriptions are essentially advertisements.
Source: Martech Zone
52% Of Consumers Rely On A Product More If It Has Unfavorable Reviews Too
We already touched upon the positive and negative reviews and their effect on customers. However, all products have their faults, it raises red flags that possibly the reviews are fake if all of a products reviews are positive. Customers expect to see some unfavorable reviews.
Source: Capterra