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Only 44% Of Local Businesses Have Actually Accepted Their Google My Business Listing
That's 56 percent of your competitors that aren't benefiting from their listing.
While business listings on the significant review platforms are complimentary, a surprisingly low number of businesses really utilize them.
Although we now understand why consumer reviews are so powerful, most businesses obviously don't.
Source: LsaInsider
Reviews Are The Third Most Influential Ranking Element For Google's Local 3 Pack
Review signals (quantity, diversity, etc.) represent 15.44% of Google's algorithm for local ranking.
Google My Business signals, like distance and keywords represent 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
Over Half Of Customers Will Not Utilize A Business If It Has Less Than A 4 Star Rating
This stat is one of many that illustrate the importance of online ratings. Now that news of consumer fulfillment travels this fast, keeping your consumers delighted is more important than ever.
57 percent of customers have actually searched for companies with more than 4 stars in 2018, which is up from 48% in 2017.
Moreover, 11 percent looked only for services with a best five star ranking.
Source: Brightlocal
64% Of Americans Concur That User-generated Content (customer Reviews) Improved Their Shopping Experience In 2017
30 percent of customers who check out consumer reviews, agree that it increases their purchasing confidence.
Companies use the reviews to enhance their products or services.
"We all need people who will give us feedback. That's how we improve." -Bill Gates
Source: Statista
More Than 4 Negative Reviews About A Business Or Product Might Reduce Sales By 70%
One negative review suffices for 35% of a site's visitors to decide not to purchase. 3 negative reviews can cost a business 59 percent less sales.
Of course, 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
Customers Could Spend 31% More With A Business That Has Fantastic Reviews
Focus on this statistic. The more detailed other users describe your services or product, the more money you can charge and consumer review stats reveal to us precisely how much more.
Source: Martech Zone
52% Of Consumers Trust A Product More If It Has Unfavorable Reviews As Well
We already discussed the negative and positive reviews and their result on consumers. However, all products have their faults, it raises red flags that possibly the reviews are phony if all of a products reviews are positive. People expect to see some negative reviews.
Source: Capterra
71% Of Millennials Browse Customer Reviews Of Expert Services
Over half of all individuals in need of an expert service turn to online reviews.
According to online reviews statistics, 59% utilized online reviews to select an attorney or a physician.
Young people (age 18-35) are much more likely to hire a professional based upon online reviews. Just 19% of millennials will think about hiring an attorney without any.
Source: Thomson Reuters
89% Of Customers Read A Companies Replies To Reviews
Not only do many customers read the review replies, 30% of them hold them in high regard. Nearly 96% read the reactions to their own reviews.
Source: Brightlocal
89% Of Shoppers Like To Read Reviews On Their Cell Phones
Be it by means of an app or a mobile web browser, customers choose to read reviews on their mobile phones.
Source: Statista
88% Of Americans Declared That Product Reviews Were The Most Prominent Factor When Buying Home Electronics
Data reveal that reviews were more helpful than TV advertisements at 37%, social networks at 23% and display advertisements at 49%.
Source: Statista
A One Star Increase In Score Can Lead To A 5% To 9% Boost In Business Income
Businesses that treat customers well usually flourish, review websites help make sure of that.
Source: Statuslabs