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Clients Might Spend 31% More With A Business That Has Excellent Reviews
Take note of this statistic. The more detailed other users explain your product or service, the more cash you can charge and consumer review stats reveal to us exactly how much more.
Source: Martech Zone
A Lot Of Best Selling Products Have An Average Score Of 4.2 To 4.7
You can't make everyone happy, which is why perfect 5 star rankings are suspicious. That's why it is unnatural to get perfect 5 star ratings.
According to consumer rating statistics, conversion rates begin to decrease as scores rise above 4.7.
Source: Spiegel Research Center
If It Has Negative Reviews As Well, 52% Of Customers Trust An Item More
We already touched upon the positive and negative reviews and their impact on customers. Nevertheless, all products have their faults, if all of a products reviews are positive, it raises warnings that maybe the reviews are fake. Consumers expect to see some unfavorable reviews.
Source: Capterra
Online Product Reviews About An Item Can Amplify Its Conversion Rate By More Than 270%
User review stats show the purchase likelihood for a product with 5 reviews is 270 percent higher than the exact same product without reviews.
Source: Spiegel Research Center
More Than 4 Negative Reviews About A Company Or Service May Decrease Sales By 70%
One negative review suffices for 35 percent of a site's visitors to decide not to buy. 3 negative reviews can cost a business 59% fewer sales.
Naturally, they can be compensated by the large number 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
63.6% Of Customers Go To Google To Read Reviews Of A Business
Considering the last stat, it comes as a surprise that Yelp (45%) and TripAdvisor (30%) come second and 3rd, leaving Facebook (23%) last.
When it comes to trust, these online review stats show the basic popularity of a site can only go so far.
Source: Review Trackers
53% Of Americans Consider Item Reviews And Ratings As The Most Vital Part Of Online Shopping.
Today's shoppers are smart and want the best bang for their buck. It's not surprising that that they consider checking out reviews as a big part of the purchasing decision.
Source: Statista
70% Of Consumers Choose To Find Out About A Business Through Short Articles And Reviews, Rather Than Advertisements
Ads are all well and good, but it deserves trying a different approach too. Reviews are without a doubt the best method to find the truth about a product or service.
Source: Statuslabs
88% Of Americans Claimed That Product Reviews Were The Most Prominent Factor When Purchasing Home Electronics
Data reveal that reviews were more successful than Television advertisements at 37%, social networks at 23% and display ads at 49%.
Source: Statista
Online Reviews Impact 67.7% Of Consumer Buying Decisions
More than two thirds of customers agree online reviews are either a "Fairly decisive", "Very decisive", or "Absolutely decisive" part of their decision making experience.
Source: Moz
91% Of Businesses Believe The Business's Star Rating Can Determine Whether They Win Or Lose A Potential Team Member
The 86% of companies doubt the integrity of online reviews. However, they realize the massive effect user ratings have on their business. Unfavorable consumer or staff member reviews can affect 90% of job seekers.
Source: Career Arc
30% Of Customers Feel Comfortable With A Business Which Reacts To Online Reviews
Corresponding with your clients creates trust. Even something as simple as reacting to their reviews and comments can make them feel appreciated.
As you might anticipate, customers who feel this way are happy to invest more cash with a company.
Source: Statuslabs
A One Star Increase In Score Can Result In A 5% To 9% Boost In Business Profits
Businesses that treat clients honorably generally flourish, review websites help make certain of that.
Source: Statuslabs
77% Of Customers Do Not Rely On Reviews That Are Older Than Three Months
Customers don't care how great your product or service was in the past. Part of why online reviews matter is since they are fresh and relevant.
Consumers understand businesses lose their touch all the time, which is why the majority of them find older reviews unimportant.
It is for this reason that companies ought to be constantly requesting reviews.
Source: Statuslabs