More Than Four Negative Reviews About A Company Or Service May Decrease Sales By 70%

One negative review suffices for 35% of a website's visitors to choose not to buy. Three negative reviews can cost a business 59 percent less sales.

Naturally, 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

77% Of Customers Don't Rely On Reviews That Are Older Than Three Months

Consumers don't care how excellent your product or service was in the past. Because they are fresh and relevant, is part of why online reviews matter.

Customers understand businesses lose their touch all the time, which is why most of them consider older reviews irrelevant.

It is for this reason that companies need to be constantly requesting reviews.

Source: Statuslabs

95% Of Travelers Read Online Reviews Prior To Reserving Travel Services

Leisure and business travelers alike read reviews to form a viewpoint. Business tourists check out an average of 5 reviews vs. 6-7 for leisure travelers.

Source: Trust You

If A Business Makes An Effort To Resolve Issues Rapidly And Effectively, 95% Of Unsatisfied Consumers Will Return To A Company

Consumers don't expect you to be perfect. When things go wrong, they do anticipate you to fix things. If there is absolutely nothing else a company can do to resolve a problem, a simple coupon can say "We're sorry" in a more attractive way.

Source: SocialMediaToday

Negative Reviews Can Increase Conversion By As Much As 85%

It sounds crazy, however negative reviews can be a positive driver for users to devote more time on your site. According to online review stats, people spend more than 5 times as long on a website when they read negative reviews.

More than two thirds of users trust reviews more when there are a mix of positives and negatives. If there aren't any unfavorable ones, a frustrating 95 percent suspect censorship or fabricated reviews.

Source: Reevoo

Consumer Reviews On Items Are Relied On Almost 12 Times More Than The Makers' Descriptions

Word-of-mouth reviews are miles ahead of the producers' description. Individuals trust other peoples opinions before they ever trust what the manufacturer says. The reason, manufacturers' descriptions are essentially ads.

Source: Martech Zone

Consumers Might Spend 31% More With A Business That Has Fantastic Reviews

Pay attention to this fact. The more detailed other users describe your services or product, the more money you can charge and customer review stats reveal to us precisely just how much more.

Source: Martech Zone

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

52% Of Consumers Trust A Product More If It Has Negative Reviews As Well

We already discussed the positive and negative reviews and their impact on customers. However, all products have their faults, it raises red flags that perhaps the reviews are fake if all of a products reviews are positive. Customers anticipate to see some negative reviews.

Source: Capterra

Reviews Are The Most Vital Part Of The Purchase Decision For Over 90% Of US Consumers

24% of US consumers consider reviews as 'very influential'.

To illustrate the importance of online reviews and ratings, did you know that 81% of consumers will pay more for a product with reviews and those very same customers are also happy to accept slower shipping times for such products.

Source: Turntonetworks

Favorable Reviews Encourage 68% Of Customers To Use A Local Business

Considering that the large bulk of consumers read reviews, you would want yours to be appealing to new consumers? Keep them short, positive and sweet.

"Kind words can be short and easy to speak, but their echos are truly endless." -Mother Teresa

Source: Brightlocal

Google Accounts For 57.5% Of All Reviews Across The World

Google is the clear winner as far as circulation goes, but they are not the only ones in the game.

Here's the online reviews circulation rankings:

Google with 57.5%, Facebook with 19%, TripAdvisor at 8.4%, Yelp with 6.6% and Others at 8.6%.

Source: Review Trackers

Software Reviews Impact Over 98 Percent Of All Buyers

18% of software purchasers consider reviews to be a necessary factor in the purchase procedure. Software application reviews have no impact whatsoever on only 2% of customers. Two thirds of them read more than six reviews to make up their mind and 14% of them read more than 20 reviews.

Source: Capterra

74 Percent Of Regional Companies Have At Least One Google Review

A single review is far from adequate to improve your website's SERP ranking.

Taking a look at online scores statistics, we found out that a company needs to have an average of 40 reviews before customers "Award" it with a star.

Source: Brightlocal

Reviews Shared On Twitter Can Help Boost Revenues By 6.46%

Online review data reveal that reviews shared on Twitter, do more to grow sales than those on any other social media platform.

Source: Yotpo

Most Local Companies Have Approximately 39 Google Reviews

People like to share their experience after they have gone to a supplier. Online review trends show individuals choose to comment if they had a favorable experience, instead of a mediocre or unfavorable one.

Source: Brightlocal