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More Than Four Negative Reviews About A Company Or Product Might Reduce Sales By 70%
One negative review is enough for 35 percent of a website's visitors to decide not to buy. 3 negative reviews can cost a business 59% fewer sales.
Naturally, they can be compensated by the sheer variety of positive reviews you get.
"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 Consumers Would Likely Give A Review If They Were Asked
More than a 35% would post a review to inform others about their consumer encounter and 24% would likely direct their review to the company itself.
Over a 26% would be willing to submit a review to help other people with their decision making process.
Source: Podium
Reviews Are The Most Essential Part Of The Purchase Decision For Over 90% Of United States Customers
24% of US buyers consider reviews as 'very influential'.
To highlight the value of online reviews and rankings, did you understand that 81% of customers will pay more for an item with reviews and those same consumers are also going to accept slower shipping times for such items.
Source: Turntonetworks
54% Of Americans Pay The Most Attention To The Typical Star Rating Of A Local Company
The star ranking is the first thing customers see. Still, users take note of other factors as well, like the quantity, recency, length, and belief of reviews. Each of these alone influences more than a 3rd of United States customers.
Source: Statista
The Majority Of Local Businesses Have Approximately 39 Google Reviews
People like to share their experience after they've gone to a supplier. Online review trends reveal people choose to comment if they had a positive experience, instead of a mediocre or negative one.
Source: Brightlocal
When Purchasing Home Electronic Devices, 88% Of Americans Stated That Product Reviews Were The Most Influential Factor
Stats reveal that reviews were more beneficial than Television ads at 37%, social networks at 23% and display ads at 49%.
Source: Statista
77% Of Individuals Do Not Rely On Reviews That Are Older Than 3 Months
Customers don't care how great your product or service was in the past. Due to the fact that they are fresh and relevant, is part of why online reviews matter.
Consumers understand businesses lose their touch all the time, which is why most of them consider older reviews unimportant.
It is for this reason that businesses should to be continuously asking for reviews.
Source: Statuslabs
Software Reviews Impact Over 98% Of All Purchasers
18 percent of software buyers consider reviews to be an essential factor in the purchase process. Software reviews have no effect whatsoever on just 2% of customers. Two-thirds of them read more than 6 reviews to decide and 14% of them read more than 20 reviews.
Source: Capterra
Reviews Are The Third Most Prominent Ranking Aspect For Google's Local 3 Pack
Review signals (amount, variety, etc.) account for 15.44% of Google's algorithm for local ranking.
Only Google My Business signals, like proximity and keywords account for 25.12%, and link signals at 16.53%, are more important than reviews as far as ranking factors go for the local 3 pack.
Source: Moz
Unfavorable Reviews Can Boost Conversion By As Much As 85%
It sounds insane, but negative reviews can be a positive factor for users to spend more time on your site. According to online review stats, individuals spend more than 5 times as long on a site when they check out negative reviews.
When there are a mix of positives and negatives, more than two thirds of users trust reviews more. A frustrating 95% suspect censorship or faked reviews if there aren't any negative ones.
Source: Reevoo
Online Item Reviews About A Product Can Improve Its Conversion Rate By A Whopping 270%
User review statistics reveal the purchase likelihood for an item with 5 reviews is 270% higher than the same item without reviews.
Source: Spiegel Research Center