74% Of Regional Companies Have At Least 1 Google Review

A single review is far from enough to improve your site's SERP ranking.

Looking at online ratings statistics, we discovered that a company needs to have approximately 40 reviews before users "Award" it with a star.

Source: Brightlocal

72% Of Customers Will Not Take Action Before They Read Some Reviews

Regardless of how appealing your marketing is, you still need consumer reviews. There's no other way around it. Consumers are still willing to hear you out, however they rely on other people more.

Source: My Testimonial Engine

Just 44% Of Local Companies Have Actually Accepted Their Google My Business Listing

That's 56 percent of your competitors that aren't making the most of their listing.

While business listings on the major review platforms are complimentary, a remarkably low number of businesses actually make use of them.

Although we now understand why customer reviews are so effective, the majority of businesses apparently don't.

Source: LsaInsider

Unfavorable Reviews Can Increase Conversion By As Much As 85 Percent

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

When there are a mix of negatives and positives, more than two-thirds of users trust reviews more. If there aren't any negative ones, a frustrating 95% suspect censorship or fabricated reviews.

Source: Reevoo

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

One negative review is enough for 35 percent of a site's visitors to decide not to purchase. 3 negative reviews can cost a business 59% fewer sales.

Obviously, they can be compensated by the sheer 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

A One Star Increase In Rating Can Result In A 5% To 9% Boost In Business Earnings

Businesses that treat consumers fairly normally flourish, review sites help ensure of that.

Source: Statuslabs

30% Of Consumers Feel Positive About A Company Which Reacts To Online Reviews

Keeping in touch with your customers creates trust. Even something as basic as responding to their reviews and comments can make them feel valued.

As you may expect, clients who feel this way are more willing to invest more money with a company.

Source: Statuslabs

More Than Half Of Consumers Aged 25-34 Published Reviews

According to Statista, the younger generations are obviously the more vocal ones.

Source: Statista

70 Percent Of Consumers Need To Check Out At Least 4 Reviews Before They Can Rely On A Business

Four reviews may be too few. Most people check out much more reviews to get a clear view of how business is in fact doing. Do not depend upon that statistic alone.

Source: Brightlocal

Reviews Are The Third Most Influential Ranking Element For Google's Local 3 Pack

Review signals (amount, diversity, and so on) 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 crucial than reviews as far as ranking elements go for the local 3 pack.

Source: Moz

Almost All Customers, Who Use Online Reviews, Read Them Early On In The Buying Process

Let's say you want to purchase a brand-new automobile and there are several models which fit your criteria. How do you pick the best one for you? Well, you read reviews.

With the help of other people, you manage to decide on one that works for you. That's how favorable reviews convert customers into clients.

Source: Consumer Affairs