88% Of Executives Consider Reputation Risk As A Leading Business Concern

Reputation management stats show a business's reputation doesn't affect simply the consumers. Potential employees also look at rankings and take a look at reviews.

Source: Deloitte

71% Of Millennials Search Consumer Reviews Of Professional Services

More than half of all individuals in need of an expert service rely on online reviews.

According to online reviews data, 59% utilized online reviews to pick a doctor or a legal representative.

Younger people (age 18-35) are a lot more likely to employ a professional based on online reviews. Only 19% of millennials will consider working with an attorney without any.

Source: Thomson Reuters

61 Percent Of Local Businesses Have An Average Ranking Of 4 To 5 Stars

Generally two-thirds of businesses have good and exceptional scores. Only 5% of businesses have a ranking below three stars.

Source: Brightlocal

More Than 4 Negative Reviews About A Company Or Product Might Decrease Sales By 70 Percent

One negative review is enough for 35 percent of a website's visitors to decide not to purchase. 3 negative reviews can cost a business 59 percent fewer sales.

Naturally, they can be compensated by the sheer number 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

Online Item Reviews About An Item Can Raise Its Conversion Rate By A Staggering 270 Percent

User review stats show the purchase possibility for a product with five reviews is 270% higher than the exact same item without reviews.

Source: Spiegel Research Center

70% Of Consumers Prefer To Learn About A Business Through Posts And Reviews, Rather Than Advertisements

Advertisements are all well and good, however it deserves trying a different approach as well. Reviews are by far the best way to find the truth about a product or service.

Source: Statuslabs

The Typical Review Length Has Gotten 65% Much Shorter Since 2010

Nowadays reviews are shorter, simpler, and more straight to the point. The word count of a review in 2019 is similar to that of a tweet.

Source: Review Trackers

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

That's 56% of your competition that aren't making the most of their listing.

While business listings on the significant review platforms are free, a surprisingly low number of businesses in fact use them.

Although we now understand why consumer reviews are so powerful, many businesses obviously don't.

Source: LsaInsider

Positive Reviews Motivate 68% Of Customers To Choose A Local Business

Because the huge bulk of customers read reviews, you'd want yours to be appealing to new consumers? Keep them short, sweet and positive.

"Kind words can be short and easy to speak, but their echos are truly endless." -Mother Teresa

Source: Brightlocal

89% Of Consumers Like To Read Reviews On Their Cell Phones

Be it through an app or a mobile browser, consumers choose to read reviews on their cell phones.

Source: Statista

89% Of Clients Review A Companies Replies To Reviews

Not only do the majority of individuals check out the review replies, 30% of them value them highly. Nearly 96% read the reactions to their own reviews.

Source: Brightlocal

91% Of Companies Think The Company's Star Rating Can Determine Whether They Win Or Lose A Possible Team Member

The 86% of companies question the integrity of online reviews. Nevertheless, they understand the enormous effect user rankings have on their business. Unfavorable client or staff member reviews can influence 90% of job seekers.

Source: Career Arc

52% Of Consumers Rely On A Product More If It Has Unfavorable Reviews Too

We already touched upon the positive and negative reviews and their result on customers. Nevertheless, all products have their faults, it raises red flags that perhaps the reviews are phony if all of a products reviews are positive. People expect to see some negative reviews.

Source: Capterra

98% Of Yelp's Site Visitors Bought From A Business They Discovered On The Site

Typically, 142 million consumers go to Yelp monthly. This is as excellent a time as any if you haven't declared your free Yelp business page.

Source: RevLocal