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

One negative review is enough for 35% of a site's visitors to decide not to buy. 3 negative reviews can cost a business 59 percent less sales.

Of course, they can be compensated by the large 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

86 Percent Of Customers Would Think About Composing A Review For A Business

Your consumers are your most important resource, and it's not only because of the cash they spend at your business. They will be willing to share it if you provide them a good experience.

Source: Brightlocal

77% Of Individuals Don't Trust Reviews That Are Older Than 3 Months

Clients don't care how good your service or product was in the past. Due to the fact that they are fresh and relevant, is part of why online reviews matter.

Consumers know businesses lose their touch all the time, which is why the majority of them consider older reviews unimportant.

It is for this reason that businesses need to be continuously asking for reviews.

Source: Statuslabs

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

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

Source: Spiegel Research Center

70 Percent Of Consumers Choose To Learn About A Business Through Posts And Reviews, Rather Than Ads

Ads are all well and good, however it's worth attempting a different approach as well. Reviews are by far the best way to find the truth about a product or service.

Source: Statuslabs

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

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

Source: Career Arc

Just 44% Of Local Businesses Have Claimed Their Google My Business Listing

That's 56 percent of your competition that aren't taking advantage of their listing.

While business listings on the major review platforms are free, a surprisingly low number of companies really utilize them.

Although we now know why customer reviews are so effective, most businesses apparently don't.

Source: LsaInsider

61% Of Regional Businesses Have A Typical Rating Of 4 To 5 Stars

Overall two thirds of companies have excellent and exceptional rankings. Just 5% of companies have a score listed below three stars.

Source: Brightlocal

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

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

With the help of other people, you manage to pick a model that works for you. That's how favorable reviews convert consumers into consumers.

Source: Consumer Affairs

The Majority Of Best-selling Products Have An Average Rating Of 4.2 To 4.7

You can't make everybody pleased, which is why perfect 5 star scores are suspicious. Someone always has a bit of a gripe. That's why it is abnormal to get perfect 5 star rankings. Sometimes a lower ranking really helps your overall score.

According to client rating stats, conversion rates start to reduce as scores rise above 4.7.

Source: Spiegel Research Center

USA Consumers Regard "Product Performance" To Be The Most Valuable Information In Product Reviews

They focus on different aspects of the shopping experience when individuals read reviews. But according to online review stats, 60% of them are most thinking about the item's performance.

Client satisfaction, product quality and quality with time are the next few factors to consider for more than 50% of USA consumers.

Source: Statista

88% Of Executives Regard Reputation Risk As A Leading Business Issue

Reputation management stats suggest a business's reputation doesn't affect simply the clients. Prospective team members also look at scores and read reviews.

Source: Deloitte

Reviews Shared On Twitter Can Boost Revenues By 6.46 Percent

Online review data reveal that reviews shared on Twitter, do more to grow sales than those on any other social media platform.

Source: Yotpo

52% Of Customers Trust A Product More If It Has Unfavorable Reviews Also

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

Source: Capterra

90 Percent Of Customers Require Less Than 10 Reviews To Form A Viewpoint About A Business

You understand what individuals say about first impressions, right?

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

If you don't have reviews on your site, consider asking your visitors to compose one.

Source: Martech Zone

30% Of Clients Feel Comfortable With A Company Which Reacts To Online Reviews

Communicating with your clients establishes trust. Even something like reacting to their remarks and reviews can make them feel valued.

As you might anticipate, customers who feel this way are going to invest more cash with a business.

Source: Statuslabs

54% Of Americans Pay The Most Attention To The Average Star Rating Of A Local Business

The star rating is the first thing consumers see. Still, users take notice of other factors also, like the amount, recency, length, and sentiment of reviews. Each of these alone affects more than a third of US consumers.

Source: Statista