Almost All Consumers, Who Use Online Reviews, Read Them Early On In The Buying Process

Let's say you want to purchase a brand-new car and there are a number of models which fit your criteria. How do you select the very best one for you? Well, you read reviews.

With the help of other consumers, you manage to decide on one that works for you. That's how favorable reviews convert consumers into customers.

Source: Consumer Affairs

Online Product Reviews About An Item Can Amplify Its Conversion Rate By More Than 270 Percent

User review stats show the purchase likelihood for an item 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 Reduce Sales By 70%

One negative review suffices for 35 percent of a site's visitors to choose not to buy. 3 negative reviews can cost a business 59 percent 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

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

The 86% of companies question the integrity of online reviews. Nevertheless, they understand the huge impact user ratings have on their business. Undesirable client or employee reviews can influence 90% of job seekers.

Source: Career Arc

67% Of Consumers Admit Reviews Are A "Very Crucial" Factor When Choosing A Service Provider

Reviews have an enormous effect on their decision when consumers have to pick a solution provider.

Source: DemandGenReport

88% Of Executives Judge Reputation Risk As A Leading Business Problem

Reputation management stats suggest a business's reputation does not affect just the customers. Potential team members also take a look at ratings and take a look at reviews.

Source: Deloitte

74% Of Local Companies Have At Least 1 Google Review

A single review is far from enough to enhance your website's SERP ranking.

Looking at online scores statistics, we learnt that a company requires to have a minimum of 40 reviews before people "Award" it with a star.

Source: Brightlocal

If A Company Handles Problems Quickly And Effectively, 95% Of Disappointed Customers Will Return To A Company

Clients don't expect you to be perfect. When things go wrong, they do expect you to resolve things. If there's nothing else a business can do to deal with a concern, a simple coupon can say "We are sorry" in a more attractive way.

Source: SocialMediaToday

If They Were Asked, 77% Of Consumers Would Likely Submit A Review

More than a 35% would submit a review to educate others about their customer experience and 24% would undoubtedly direct their review to the business itself.

Over a 26% would want to leave a review to help other people with their choice making process.

Source: Podium

61% Of Local Businesses Have A Typical Ranking Of 4 Or 5 Stars

Overall 2 out of 3 companies have exceptional and awesome scores. Just 5% of companies have a score below 3 stars.

Source: Brightlocal

More Than Half Of Shoppers Aged 25 To 34 Submitted Reviews

According to Statista, the younger generations are evidently the more opinionated ones.

Source: Statista

If It Has Unfavorable Reviews As Well, 52% Of Consumers Trust A Product More

We already touched upon the positive and negative reviews and their effect on consumers. However, all products have their faults, if all of a products reviews are positive, it raises red flags that maybe the reviews are fake. People anticipate to see some negative reviews.

Source: Capterra

Negative Reviews Can Increase Conversion By As Much As 85%

It sounds insane, but negative reviews can be a positive force for users to devote more time on your site. According to online review statistics, people spend more than five times as long on a site when they read negative reviews.

More than two-thirds of users trust reviews more when there are a mix of negatives and positives. If there aren't any unfavorable ones, a frustrating 95% suspect censorship or faked reviews.

Source: Reevoo

Only 6% Of Consumers Don't Rely On Consumer Reviews At All

According to client review statistics, a massive 19 percent of customers constantly trust online reviews and never ever a make a purchase without checking out reviews.

Source: Statista

73% Of Customers Believe Client Reviews Are More Crucial Than Star And Number Rankings

Online review data make it clear individuals aren't satisfied with ratings alone.

Consumer reviews make the stats appear more genuine which is what the potential clients are looking for. Practically a third of customers state composed reviews are the only feature that makes them believe the sites' reviews are useful and pertinent.

Source: Fan and Fuel

90% Of Individuals Need Less Than 10 Reviews To Form An Opinion About A Business

You understand what people state about first impressions, right?

Users get their first impression of your businesses through reviews. Normally through less than 10 of them.

Consider asking your visitors to write one if you don't have reviews on your site.

Source: Martech Zone

A One Star Boost In Rating Can Result In A 5% To 9% Boost In Business Profits

Businesses that treat consumers well generally prosper, review sites help ensure of that.

Source: Statuslabs