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Most Best-selling Items Have An Average Rating Of 4.2 To 4.7
You can't make everyone pleased, which is why perfect 5 star ratings are suspicious. Somebody always has a little bit of a gripe. That's why it is unnatural to get perfect 5 star ratings. Sometimes a lower rating really helps your overall score.
According to customer rating stats, conversion rates begin to decrease as rankings rise above 4.7.
Source: Spiegel Research Center
77% Of Customers Would Definitely Give A Review If They Were Asked
More than a 35% would post a review to educate others about their customer encounter and 24% would rather direct their review to the business itself.
Over a 26% would be willing to submit a review to help other individuals with their choice making process.
Source: Podium
91 Percent Of Millennials Have Faith In Online Reviews As Much As Loved Ones
Online review stats position clients' reviews as the most credible source of recommendations. Online reviews normally carry the same weight as guidance from family and friends.
Source: Brightlocal
64 Percent Of Americans Agree That User-generated Content (customer Reviews) Improved Their Shopping Experience In 2017
30 percent of customers who read consumer reviews, agree that it increases their buying confidence.
Organizations 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
If It Has Unfavorable Reviews As Well, 52% Of Customers Trust An Item More
We already touched upon the negative and positive reviews and their effect on consumers. Nevertheless, all products have their faults, it raises red flags that perhaps the reviews are fake if all of a products reviews are favorable. Customers expect to see some unfavorable reviews.
Source: Capterra
88% Of Executives Judge Reputation Risk As A Top Business Issue
Reputation management statistics suggest a company's reputation doesn't impact just the consumers. Prospective employees also take a look at ratings and read reviews.
Source: Deloitte
49% Of Consumers Consider The Number Of Online Reviews As An Essential Factor In Their Purchasing Decision
Customers value not just the quality or nature of the reviews, but they consider their number and recency too.
The share of consumers, who take notice of the variety of reviews is currently at 46 percent.
Source: Brightlocal
Reviews Are The Third Most Influential Ranking Aspect For Google's Local 3 Pack
Review signals (amount, variety, etc.) account for 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 aspects go for the local 3 pack.
Source: Moz
A Single Business Review Can Raise Its Conversions By 10%
Online review statistics reveal user-generated material can do wonders in terms of conversions.
A single review can have a substantial influence on your business.
A hundred reviews can boost your conversion rates by as much as 37 percent. Two hundred can provide a mind-blowing 44% boost.
Source: RevLocal
The Majority Of People Aged 25-34 Wrote Reviews
According to Statista, the more youthful generations are evidently the more vocal ones.
Source: Statista
More Than Four Negative Reviews About A Company Or Product Might Decrease Sales By 70%
One negative review suffices for 35% of a site's visitors to decide not to purchase. Three negative reviews can cost a business 59 percent fewer sales.
Obviously, 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
91% Of Businesses Think The Company's Star Rating Can Determine Whether They Win Or Lose A Prospective Employee
The 86% of companies doubt the integrity of online reviews. Nevertheless, they understand the massive effect user ratings have on their business. Undesirable client or employee reviews can affect 90% of job seekers.
Source: Career Arc