Online Review Statistics that Can Improve Your Business

Whether you own a business or manages one, online reputation is everything as your customer will definitely look your business up online. This means they will look for reviews about your business before making a purchase. In fact, a whopping 95% of the consumer’s purchase decision is influenced by an online review.

Whether good or bad, reviews are powerful and they can quickly spread like wildfire. Hence, it is not to be ignored as it can either make or mar your business. If you are not yet working on how to boost your online review, its never too late. Start by implementing excellent customer service, optimize your listings on every platform, and educate your consumers on the importance of leaving reviews.

Still, doubting whether to go for it or not? Here is online reviews fact that will convince you.

The more the reviews, the better the business

Many consumers want a business to have at least 45 online reviews before they can trust their average rating. Which shows the expectation of consumers in terms of reviews. This is a good opportunity for many businesses as consumers may not be discouraged by a negative review provided it does not derail the business average rating.

85% of people visit a product or service review because they want to purchase it

People do not visit a review site to pass time, social media platforms are available for that. Many consumers come because they already made a decision to purchase the product.

Both positive and negative review have great impact on consumers buying decisions

Research as shown that 70% of consumers specifically search for negative reviews before purchasing a product. Another statistic shows that consumers spend more time on a site and interact when they see a bad review. This matches with other data that was reviewed that a near-perfect review and rating is not trustworthy and often leads to doubt.

70% of consumers will not use a business if it has a lower rating

Online review statistics as shown that 70% of consumers will not use a business if it has a rating lower than 4*. This shows how vital online ratings are for a successful business. Hence, ensuring maximum customer satisfaction should be your watchword.

95% of young trust reviews

People of ages between 18 to 35 have strong believers of online reviews and they trust it as much as they trust a personal recommendation. Depending on your target age, online review facts as shown how these reviews have a huge impact on the success of your business.

Most consumers don’t trust advertising

While online reviews are experiencing high consumer trust we can’t say the same about the advertisement. Small people only trust advertisements while many of them avoid it. A lot of people are tired of seeing advertisements everywhere they especially those that contradict the truth about the product and services provided by the brands.

Acknowledging reviews is important to the readers

Responding to reviews by the management is very important to the readers. 60% of readers expect business customer service or management to respond to any review on their product.

90% of consumer needs at least 10 reviews to determine their opinion about a business

Many consumers get their first impression of your business through the first 10 reviews. Therefore, it is important to have reviews on your website to give new customers a great impression of your business. And if you don’t have one, you should consider educating your consumer about the importance of writing a review after using your product or doing business with you.

One review can elevate a business conversion by 15%

Statistics reviewed that content generated by users can go a long way in terms of conversion. This shows the impact a single review can have on your business.

10% of customers do not trust businesses without reviews

As the saying goes, there is no trust when there is no interaction. Many consumers will not do business with companies they can’t make an opinion about.

Small reviews are better than none

Research as shown that the probability of purchasing a product increases when it has more than five reviews. At some point in every business, the numbers of reviews do not determine the rate at which people purchase the product.

Reviews are more important for an expensive product

It has been proven that reviews as a greater effect on the possibility of purchasing a product most especially items that are more expensive. Oftentimes, the conversion rate of an expensive product increases by 400%when their reviews are displayed. While those for lower price product increases by 200%. Does that surprise you? It shouldn’t because online reviews questionnaire shows that consumer that spend more money on an item is more likely to care about what other people say about the item.