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More Than 4 Negative Reviews About A Company Or Product Might Decrease Sales By 70 Percent
One negative review suffices for 35 percent of a site's visitors to decide not to purchase. 3 negative reviews can cost a business 59% fewer sales.
Naturally, 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
When Purchasing Home Electronic Devices, 88% Of Americans Reported That Product Reviews Were The Most Influential Factor
Stats reveal that reviews were more helpful than Television ads at 37%, social media at 23% and display advertisements at 49%.
Source: Statista
70% Of Customers Choose To Find Out About A Business Through Reviews And Posts, Rather Than Advertisements
Ads are all well and good, but it's worth attempting a different approach as well. Reviews are by far the best way to discover the truth about a product or service.
Source: Statuslabs
Software Application Reviews Influence Over 98 Percent Of All Buyers
18% of software application purchasers consider reviews to be an important factor in the purchase process. Software reviews have no effect whatsoever on just 2 percent of consumers. Two thirds of them read more than 6 reviews to make up their mind and 14 percent of them read more than 20 reviews.
Source: Capterra
88% Of Executives View Reputation Risk As A Top Business Problem
Reputation management stats show a company's reputation doesn't impact just the clients. Potential employees likewise look at scores and take a look at reviews.
Source: Deloitte
98% Of Yelp's Site Visitors Bought From A Business They Discovered On The Site
Typically, 142 million consumers go to Yelp on a monthly basis. This is as good a time as any if you have not claimed your free Yelp business page.
Source: RevLocal
91% Of Millennials Turn To Online Reviews As Much As Friends And Family
Online review statistics position customers' reviews as the most credible source of recommendations. Online reviews normally carry the exact same weight as guidance from loved ones.
Source: Brightlocal
63.6% Of Consumers Check Out Google To Look For Reviews Of A Business
Thinking about the last statistic, it comes as a surprise that Yelp (45%) and TripAdvisor (30%) come second and third, leaving Facebook (23%) behind.
These online review statistics show the general popularity of a site can just go so far when it comes to trust.
Source: Review Trackers
52% Of Consumers Rely On A Product More If It Has Negative Reviews Too
We already touched upon the positive and negative reviews and their effect on consumers. However, all products have their faults, it raises red flags that possibly the reviews are fake if all of a products reviews are positive. People anticipate to see some unfavorable reviews.
Source: Capterra
30% Of Clients Feel Favorable To A Business Which Reacts To Online Reviews
Corresponding with your customers establishes trust. Even something like reacting to their reviews and remarks can make them feel valued.
As you may expect, customers who feel this way are happy to spend more money with a business.
Source: Statuslabs
Reviews Are The Most Crucial Part Of The Purchase Decision For Over 90% Of United States Customers
24% of US buyers consider reviews as 'exceptionally influential'.
To highlight the significance of online reviews and ratings, did you know that 81 percent of consumers will pay more for a product with reviews and those exact same customers are also ready to accept slower shipping times for such products.
Source: Turntonetworks