Unless you’ve been hiding under a rock, you know that online reviews are all the rage now. I love reading reviews…whether it’s booking a hotel, trying out a new restaurant, buying a new laptop, or even renting a movie. I read reviews so often and so thoroughly that it drives my husband crazy. He tells me that there will always be a few negative reviews because you can’t please everyone. And I know that! But reviews carry a lot of clout when it comes to customers and their buying power.
If you are a business owner you should know how important reviews are to customer satisfaction as well as earning repeat buyers. If you are struggling in that department, let these statistics be a wakeup call. They will turn you into a believer!
Customers are reading reviews
• Nearly 95% of shoppers read online reviews before making a purchase (Spiegel Research Center, 2017)
• 94% of customers read online reviews (Fan and Fuel, 2016)
• 93% of local consumers use reviews to determine if a local business is good or bad (BrightLocal, 2017)
• 72% of customers don’t take action until they have read reviews (Testimonial Engine)
If that doesn’t encourage you to pay attention to online reviews, I don’t know what will. Obviously customers are researching your company before they decided to do business with you. So make sure those reviews reflect you and your brand in the best possible light.
The impact of online reviews on sales
• 92% of B2B buyers are more likely to purchase after reading a trusted review (G2 Crowd and Heinz Marketing, 2017)
• Displaying reviews can increase conversion rates by 270% (Spiegel Research Center, 2017)
• Purchase likelihood improves 15% when buyers read verified buyer reviews over anonymous reviews (Spiegel Research Center, 2017)
• 97% of shoppers say reviews influence buying decisions (Fan and Fuel, 2016)
• 68% of Americans report positive reviews making them more likely to use a business (BrightLocal, 2017)
• Given two products with similar ratings, consumers are more likely to buy the product with more reviews (Psychological Science, 2017)
• Reviews produce an 18% uplift in sales (Revoo, as shared by Econsultancy)
• Reviews make 71% of customers are more comfortable purchasing a product (3D Cart)
• 88% of buyers are influenced in their buying decision by reviews (Zendesk)
Consumer engagement with reviews
• 68% of consumers look for either information on the reviewer’s experience, or problems the reviewer experienced when reading reviews (Fan and Fuel, 2016)
• 60% of people read online reviews for a local restaurant or cafe (BrightLocal, 2017)
• 73% of consumers trust a local business more after reading positive reviews (BrightLocal, 2017)
• 87% of American-based consumers need a business to have a minimum star rating of three or higher (out of five) to use it (BrightLocal, 2017)
• 67% of B2B buyers want to see a mix of positive and negative reviews (G2 Crowd and Heinz Marketing, 2017)
• 85% of buyers trust reviews as much as personal recommendations (BrightLocal, 2017)
The importance of replying to customer reviews
• 53% of customers expect businesses to reply to their online reviews within seven days (Review Trackers, 2018)
• 41% of consumers say that brands replying to reviews makes them believe the company really cares about their customers (Bazaarvoice)
• Not replying to reviews risks increasing customer churn by up to 15% (Chatmeter, 2017)
• 7 out of 10 consumers changed their opinion about a brand after the company replied to a review (Bazaarvoice via Marketing Charts, 2013)
Negative reviews
• 72% of B2B buyers say negative reviews give depth and insight into a product (G2 Crowd and Heinz Marketing, 2017)
• 40% of B2B buyers say negative reviews help build credibility for a product (G2 Crowd and Heinz Marketing, 2017)
• 82% of shoppers specifically seek out negative reviews (Power Reviews, 2017)
• Consumers spend four times as long interacting with negative reviews, with a 67% increase in conversion rate (Spiegel Research Center, 2017)
• 92% of consumers have difficulties or hesitations purchasing an item with no reviews (Fan and Fuel, 2016)
The process of getting customer reviews
• 68% of consumers have left a review for a local business after being asked to do so (BrightLocal, 2017)
• Up to 80% of reviews originate from follow-up emails urging shoppers to review their purchases (Power Reviews, 2017)
• Brands can expect their average star rating to increase after emailing buyers a direct link to submit reviews (Spiegel Research Center, 2017)
After reading through all of the statistics, one fact remains clear: customer reviews matter. If you are already utilizing reviews, good for you! If you haven’t begun, let this be the push you need to get started. You want as many reviews as possible with a good strategy of how to maintain a positive online reputation.
