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A Lone Business Review Can Lift Its Conversions By 10 Percent
Online review stats show user-generated content can do miracles in terms of conversions.
A single review can have an enormous effect on your business.
A hundred reviews can raise your conversion rates by as much as 37%. 2 hundred can offer a mind-blowing 44 percent increase.
Source: RevLocal
82% Of Customers Visit Review Websites Due To The Fact That They Wish To Buy An Item Or A Service And Wish To Get The Truth About The Businesses Product Or Services.
Review websites are places that customers go to get the truth about a service, product or business. Users come since they have currently formed a buying decision. The bulk of them (89 percent) buy within a week of their visit. And 29 percent do so within 24 hours.
Source: RevLocal
More Than Four Negative Reviews About A Company Or Service Might Decrease Sales By 70 Percent
One negative review suffices for 35% of a site's visitors to choose not to buy. 3 negative reviews can cost a business 59% fewer sales.
Of course, they can be compensated by the large 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
53 Percent Of Americans Consider Item Reviews And Rankings As The Most Important Part Of Online Shopping.
Today's buyers are wary and desire the very best bang for their dollar. It's no wonder that they consider checking out reviews as a huge part of the buying decision.
Source: Statista
Half Of All Millennial's "Constantly" Read Online Reviews For Companies
Younger individuals understand the value of being informed. User-generated material has an indisputable impact on consumers.
They will understand what they've been missing out on if businesses stop to consider the power of client reviews over millennials. Older individuals are various though, only 6% of individuals aged 55 or older check out reviews.
Source: Brightlocal
70 Percent Of Customers Need To Check Out At Least 4 Reviews Before They Can Rely On A Business
4 reviews may be too few. Many people read many more reviews to get a clear view of how the business is actually doing. Don't depend upon that statistic alone.
Source: Brightlocal
Online Reviews Affect 67.7% Of Customer Purchasing Decisions
More than 2 thirds of customers concur online reviews are either a "Fairly decisive", "Very decisive", or "Absolutely decisive" part of their decision making process.
Source: Moz
61 Percent Of Regional Businesses Have An Average Ranking Of 4 Or 5 Stars
Generally two thirds of companies have excellent and great rankings. Just 5% of companies have a ranking below 3 stars.
Source: Brightlocal
US Shoppers Regard "Product Performance" To Be The Most Helpful Info In Product Reviews
When people check out reviews, they focus on various elements of the shopping experience. But according to online review stats, 60% of them are most interested in the product's performance.
Customer satisfaction, product quality and quality with time are the next couple of considerations for more than 50% of USA clients.
Source: Statista
If It Has Unfavorable Reviews As Well, 52% Of Consumers Trust A Product More
We already touched upon the negative and positive reviews and their effect on customers. However, all products have their faults, if all of a products reviews are positive, it raises warnings that maybe the reviews are fake. People expect to see some unfavorable reviews.
Source: Capterra
15% Of Customers Do Not Trust Businesses Without Any Online Reviews
No trust indicates no interactions. 15 percent of possible clients won't even think about doing business with a business they can't discover opinions about.
Source: Statuslabs
Reviews Posted On Twitter Can Help Grow Revenues By 6.46%
Online review stats reveal that reviews shared on Twitter, do more to boost sales than those on any other social media platform.
Source: Yotpo