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

Reputation management statistics indicate a company's reputation does not impact just the clients. Potential team members likewise look at ratings and take a look at reviews.

Source: Deloitte

Customer Reviews On Products Are Trusted Nearly 12 Times More Than The Manufacturers' Descriptions

Word-of-mouth reviews are miles ahead of the manufacturers' description. Individuals trust other peoples opinions before they ever trust what the producer states. The reason, manufacturers' descriptions are essentially advertisements.

Source: Martech Zone

Reviews Are The Third Most Prominent Ranking Aspect For Google's Local 3 Pack

Review signals (quantity, diversity, etc.) represent 15.44% of Google's algorithm for local ranking.

Just Google My Business signals, like distance and keywords account for 25.12%, and link signals at 16.53%, are more crucial than reviews as far as ranking aspects go for the local 3 pack.

Source: Moz

Online Product Reviews About A Product Can Boost Its Conversion Rate By A Whopping 270%

User review stats show the purchase possibility for a product with 5 reviews is 270% higher than the same product without reviews.

Source: Spiegel Research Center

63.6% Of Consumers Visit Google To Check For Reviews Of A Business

Thinking about the last statistic, it comes as a surprise that Yelp (45%) and TripAdvisor (30%) come second and 3rd, leaving Facebook (23%) at the end.

When it comes to trust, these online review stats reveal the basic popularity of a website can just go so far.

Source: Review Trackers

More Than Four Negative Reviews About A Business Or Service May Reduce Sales By 70%

One negative review is enough for 35% of a website's visitors to decide not to buy. Three negative reviews can cost a business 59 percent less sales.

Of course, they can be compensated by the sheer variety 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

Facebook Reviews Affect More Than 50 Percent Of Customers' Buying Decisions

Facebook is currently the most popular social network which can also influence our buying decisions.

According to social media reviews statistics, Facebook impacts the majority of users' purchase decisions.

If it has favorable reviews, Facebook reviews stats expose that 4 out of 5 users are most likely to trust a local business.

Source: RevLocal

61 Percent Of Regional Businesses Have A Typical Ranking Of 4 To 5 Stars

Typically 2 out of 3 businesses have excellent and exceptional ratings. Just 5% of companies have a ranking listed below 3 stars.

Source: Brightlocal

Google Accounts For 57.5 Percent Of All Reviews Across The Globe

As can be expected, Google is in the lead, followed by Facebook, TripAdvisor and others.

These the online reviews distribution rankings:

Google with 57.5%, Facebook with 19%, TripAdvisor at 8.4%, Yelp at 6.6% and Others with 8.6%.

Source: Review Trackers

If It Has Less Than A 4 Star Rating, More Than Half Of Consumers Will Not Use A Company

This stat is among many that illustrate the significance of online ratings. Now that news of client satisfaction travels this fast, keeping your customers delighted is more important than ever.

57 percent of consumers have searched for business with more than four stars in 2018, which is up from 48% in 2017.

11 percent looked only for businesses with an ideal five star rating.

Source: Brightlocal

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

We already discussed the negative and positive reviews and their impact on consumers. Nevertheless, all products have their faults, it raises red flags that perhaps the reviews are phony if all of a products reviews are favorable. People anticipate to see some unfavorable reviews.

Source: Capterra

83% Of All Younger Buyers Were Asked To Leave A Review Recently

Of those asked, 80% of clients did give a review. Overall, companies have actually asked 66% of all clients to leave a review on their business.

Source: Brightlocal

Customers Could Invest 31 Percent More With A Business That Has Fantastic Reviews

Take notice of this fact. The better other users explain your services or product, the more cash you can charge and customer review stats reveal to us precisely how much more.

Source: Martech Zone

91% Of Companies Believe The Company's Star Rating Can Determine Whether They Win Or Lose A Prospective Employee

The 86% of companies question the integrity of online reviews. However, they realize the huge effect user ratings have on their business. Unfavorable client or employee reviews can influence 90% of job seekers.

Source: Career Arc