88% Of Americans Reported That Product Reviews Were The Most Influential Factor When Purchasing Home Electronic Devices

Statistics reveal that reviews were more successful than Television advertisements at 37%, social networks at 23% and display advertisements at 49%.

Source: Statista

Reviews Are The 3rd Most Influential Ranking Factor For Google's Local 3 Pack

Review signals (quantity, variety, etc.) account for 15.44% of Google's algorithm for local ranking.

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 aspects go for the local 3 pack.

Source: Moz

Just 44 Percent Of Local Businesses Have Accepted Their Google My Business Listing

That's 56% of your competitors that aren't taking advantage of their listing.

While business listings on the significant review platforms are free, a remarkably low number of businesses really make use of them.

Although we now know why customer reviews are so effective, most businesses obviously do not.

Source: LsaInsider

15 Percent Of Users Don't Trust Businesses With No Online Reviews

No trust indicates no interactions. 15% of possible customers will not even consider doing business with a company they can't find viewpoints about.

Source: Statuslabs

More Than 4 Negative Reviews About A Company Or Service May Reduce Sales By 70 Percent

One negative review suffices for 35 percent of a website's visitors to choose not to buy. 3 negative reviews can cost a business 59% less sales.

Obviously, 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

74% Of Local Companies Have At A Minimum, 1 Google Review

One review is far from sufficient to improve your website's SERP ranking.

Looking at online ratings data, we learnt that a business requires to have a minimum of 40 reviews before buyers "Award" it with a star.

Source: Brightlocal

Customer Reviews On Products Are Trusted Almost 12 Times More Than The Makers' Descriptions

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

Source: Martech Zone

73% Of Customers Believe Customer Reviews Are More Crucial Than Star And Number Scores

Online review stats make it clear people aren't pleased with ratings alone.

Consumer reviews make the statistics appear more genuine which is what the would-be customers are searching for. Almost a third of consumers say written reviews are the only feature that makes them think the websites' reviews are beneficial and appropriate.

Source: Fan and Fuel

71% Of Millennials Browse Consumer Reviews Of Professional Services

Over half of all people in need of a professional service turn to online reviews.

According to online reviews stats, 59% utilized online reviews to pick an attorney or a doctor.

Young people (age 18-35) are a lot more likely to hire an expert based upon online reviews. Just 19% of millennials will think about hiring an attorney without any.

Source: Thomson Reuters

64 Percent Of Americans Agree That User-generated Content (consumer Reviews) Enhanced Their Shopping Experience In 2017

30% of consumers who read client reviews, concur that it increases their purchasing confidence.

Organizations utilize the reviews to improve their services and products.

"We all need people who will give us feedback. That's how we improve." -Bill Gates

Source: Statista

Most Best Selling Items Have An Average Score Of 4.2 To 4.7

You can't make everybody delighted, which is why perfect 5 star rankings are suspicious. Someone always has a bit of a gripe. That's why it is unnatural to get perfect 5 star scores. Sometimes a lower ranking in fact helps your overall score.

According to consumer rating statistics, conversion rates begin to decrease as ratings rise above 4.7.

Source: Spiegel Research Center

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

We already discussed the positive and negative reviews and their effect on consumers. However, all products have their faults, if all of a products reviews are positive, it raises warnings that maybe the reviews are phony. Customers expect to see some negative reviews.

Source: Capterra