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88% Of Americans Revealed That Product Reviews Were The Most Influential Factor When Buying Home Electronics
Data reveal that reviews were more effective than Television ads at 37%, social networks at 23% and display ads at 49%.
Source: Statista
52% Of Consumers Rely On A Product More If It Has Negative Reviews As Well
We already touched upon the positive and negative reviews and their result on customers. However, all products have their faults, it raises red flags that maybe the reviews are fake if all of a products reviews are favorable. Customers expect to see some negative reviews.
Source: Capterra
15 Percent Of Buyers Don't Trust Businesses Without Any Online Reviews
No trust means no interactions. 15 percent of potential clients won't even think about doing business with a company they can't find viewpoints about.
Source: Statuslabs
More Than Four Negative Reviews About A Company Or Product May Decrease Sales By 70%
One negative review suffices for 35% of a website's visitors to choose not to purchase. Three negative reviews can cost a business 59 percent 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
88% Of Executives Regard Reputation Risk As A Leading Business Problem
Reputation management stats show a business's reputation does not impact just the clients. Potential employees also look at rankings and take a look at reviews.
Source: Deloitte
83% Of Clients Don't Trust Advertising
The traditional channels to reach consumers aren't as prominent as they utilized to be. Many users who no longer trust ads choose to take notice of customers' recommendations online.
Source: Statuslabs
Clients Checking Out Reviews On A Mobile Device Are 127 Percent More Likely To Buy Than Desktop Users
Mobile users choose to get things done faster. Buying decisions are made rapidly.
Online reviews are certainly convincing, yet online marketers haven't always come to value the power of them.
Source: Martech Zone
Just 44 Percent Of Local Companies Have Accepted Their Google My Business Listing
That's 56% of your competition that aren't taking advantage of their listing.
While business listings on the major review platforms are totally free, a remarkably low number of companies in fact make use of them.
Although we now know why customer reviews are so powerful, many businesses apparently do not.
Source: LsaInsider
Reviews Are The Third Most Prominent Ranking Element For Google's Local 3 Pack
Review signals (quantity, variety, and so on) represent 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 vital than reviews as far as ranking elements go for the local 3 pack.
Source: Moz
Online Reviews Affect 67.7% Of Customer Purchasing Decisions
More than 2 thirds of consumers concur online reviews are either a "Fairly decisive", "Very decisive", or "Absolutely decisive" part of their decision making process.
Source: Moz
83% Of All Young Shoppers Were Invited To Give A Review Recently
Of those invited, 80% of customers did give a review. In general, companies have asked 66% of all clients to leave a review on their company.
Source: Brightlocal
A Single Business Review Can Raise Its Conversions By 10%
Online review statistics reveal user-generated content can do wonders in terms of conversions.
A single review can have a substantial impact on your business.
A hundred reviews can raise your conversion rates by as much as 37 percent. 2 hundred can offer a mind-blowing 44% increase.
Source: RevLocal
Unfavorable Reviews Can Improve Conversion By Up To 85%
It sounds insane, but negative reviews can be a positive force for users to devote more time on your website. According to online review statistics, people spend more than five 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 negatives and positives. If there aren't any negative ones, a frustrating 95% suspect censorship or fabricated reviews.
Source: Reevoo