57 Important Stats Proving the Power of Customer Reviews
The internet has brought all things to our fingertips, from finding a hotel, buying groceries, choosing your next TV or booking a flight. From being a place to promote your website, the internet has now evolved into a platform for consumers. It is where they can evaluate products and services based on impressions from other, like-minded shoppers.
Reviews bridge the gap between traditional word-of-mouth and a viral form of feedback that has the power to influence a consumer’s buying behavior. Analyzing the reviews left to you can help you better understand your target market and improve your services. If you are a business professional that has doubts about including reviews in your strategy, these stats will turn you into a believer.
Who Is Reading Online Reviews?
Statistics show that the majority of all online shoppers use reviews to determine what products to buy and which services to purchase.
1. Almost 95% of shoppers read online reviews before purchasing a product or service (Spiegel Research Center, 2017)
2. 94% of customers read online reviews (Fan and Fuel, 2016)
3. 72% of consumers don’t take action until they have read online reviews (Testimonial Engine)
4. Consumers read an average of 10 online reviews before feeling able to trust a local business (BrightLocal, 2017)
5. 86% of consumers read reviews for local businesses (BrightLocal, 2017)
Do online reviews affect sales and revenue?
Business owners learn the hard way that ignoring online reviews can really hurt sales. Negative reviews create doubt about your products and services. Not to mention cost you new customers and cause repeat visitors to reconsider.
6. 92% of B2B buyers are more likely to purchase a product or service after reading a trusted review about it (G2 and Heinz Marketing, 2017)
7. Conversion rates can increase up to 270% by just displaying reviews (Spiegel Research Center, 2017)
8. Businesses that claim their free listings on at least four review sites earn 36% more revenue than average (Womply, 2019)
9. Having five reviews results in purchase likelihood increasing by a factor of almost four times (Spiegel Research Center, 2017)
10. Reviews displayed for higher-priced products increase conversion rates by up to 380% (Spiegel Research Center, 2017)
11. Verified buyer reviews increase purchase likelihood by 15% (Spiegel Research Center, 2017)
12. One-to-one peer recommendations, original research, and product reviews are the most influential content in affecting purchase decisions (Content Marketing Institute and SmartBrief, 2017)
13. A one star increase on Yelp can lead to a 5-9% increase in business revenue (Harvard Business School, Michael Luca, 2016)
14. 97% of shoppers say reviews influence buying decisions (Fan and Fuel, 2016)
15. Positive reviews make 68% of consumers more likely to use local businesses (BrightLocal, 2017)
16. Customers preferred a product with more reviews to one with fewer reviews (Psychological Science, 2017)
17. Reviews produce an average 18% uplift in sales (Revoo, as shared by Econsultancy)
18. 71% of consumers agree that reviews make them more comfortable buying a product (3D Cart)
19. 88% of buyers are influenced in their buying decision by reviews (Zendesk)
20. Customers spend 31% more when a business has positive reviews (Broadly)
How Do Reviews Impact Consumer Engagement?
Consumers frequently utilize social media and are likely to share their customer care experiences online. The consumer opinion about online media, making a difference in customer care, has a strong impact on consumer engagement.
21. 92% of consumers trust peer recommendations. (Search Engine Watch, 2017)
22. 73% of customers value written review over the overall star rating (Fan and Fuel, 2016)
23. 37% of customers look for details on reviewers experiences while 31% scan for descriptions of problems with the product or service (Fan and Fuel, 2016)
24. Only 3% of buyers say that reviews never factor into their buying decisions (Fan and Fuel, 2016)
25. 71% of B2B buyers look at reviews during the consideration stage (G2 Crowd and Heinz Marketing, 2017)
26. 67% of B2B buyers rank peer reviews as very important when making a purchase decision (Demand Gen Report, 2017)
27. In 2018, 40% of consumers would only take into account local reviews written within the past two weeks. (BrightLocal, 2018).
28. 82% of buyers consider user-generated reviews to be extremely valuable (3D Cart)
29. 67% of B2B buyers want to see a mix of positive and negative reviews (G2 Crowd and Heinz Marketing, 2017)
30. 85% of buyers trust reviews as much as personal recommendations (BrightLocal, 2017)
31. Only 13% of shoppers find the seller’s website to be the most helpful when buying consumer goods, and 17% when purchasing services (Fan and Fuel, 2016)
32. 60% of people read online reviews for a local restaurant or cafe (BrightLocal, 2017)
33. 73% of consumers trust a local business more after reading positive reviews (BrightLocal, 2017)
34. 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)
35. 54% of consumers visit a local business’s website after reading a positive review (BrightLocal, 2017)
Why Is It Important To Respond To Reviews?
According to Google, responding to reviews show that you value your customers and the feedback that they leave about your business. They eventually help in improving your visibility and increase the likelihood that a potential customer will visit your location.
Now and then, respond to stellar five-star reviews publicly so potential patients know that you care. When it comes to a negative review, take it as an opportunity to grow. Thank the reviewer for their feedback, outline steps you have taken to resolve the issue, and urge them to contact you to talk further about what happened.
36. Businesses who reply to reviews at least 25% of the time have an average of 35% more revenue (Womply, 2019)
37. 53% of customers expect businesses to reply to their online reviews within seven days (Review Trackers, 2018)
38. 41% of consumers say that brands replying to reviews makes them believe the company really cares about their customers (Bazaarvoice)
39. 7 out of 10 consumers changed their opinion about a brand after the company replied to a review (Bazaarvoice via Marketing Charts, 2013)
40. 16% of participants in a 2016 study expect businesses to reply to negative reviews in 1-3 hours (Get Five Stars, 2016)
41. Consumers spend up to 49% at companies that reply to reviews (Womply, 2019)
42. 89% of consumers read the replies to reviews (BrightLocal, 2018)
43. Not replying to reviews risks increasing customer churn by up to 15% (Chatmeter, 2017)
How to Make Negative Reviews Work In Your Favor
44. 72% of B2B buyers say negative reviews give depth and insight into a product (G2 Crowd and Heinz Marketing, 2017)
45. 92% of consumers have difficulties or hesitations purchasing an item with no reviews (Fan and Fuel, 2016)
46. 5 star businesses earn less in revenue than businesses with a 1 – 1.5 star rating (Womply, 2019)
47. 40% of B2B buyers say negative reviews help build credibility for a product (G2 Crowd and Heinz Marketing, 2017)
48. 2% of shoppers specifically seek out negative reviews (Power Reviews, 2017)
49. Consumers spend four times as long interacting with negative reviews, with a 67% increase in conversion rate (Spiegel Research Center, 2017)
50. 95% of consumers get suspicious of fake reviews if there are no bad scores (Revoo, 2013)
51. The likelihood of purchase peaks at a star rating of 4.0 – 4.7, then decreases as the rating gets closer to 5.0. (Spiegel Research Center, 2017)
52. 68% of customers trust reviews more when they see a mix of good and bad reviews (Broadly)
How to Get Customer Reviews?
What is the best way to collect reviews for your business? Just ask. Tell your customers how important reviews are to your business. As long as you provide an excellent product or service, they won’t be annoyed if you ask for a review.
By asking for feedback, you’re showing customers that you care what they think and that you want them to have the best experience possible.
53. Consumers with negative experiences are more likely to write a review than those who had a positive experience (Street Fight and Toluma, 2012)
54. 68% of consumers have left a review for a local business after being asked to do so (BrightLocal, 2017)
55. Up to 80% of reviews originate from follow-up emails urging shoppers to review their purchases (Power Reviews, 2017)
56. Brands can expect their average star rating to increase after emailing buyers a direct link to submit reviews (Spiegel Research Center, 2017)
57. 80% of consumers aged 18-34 have written online reviews. Alternatively, 41% of consumers over 55 have written a review. (BrightLocal, 2018)
58. 7 out of 10 customers will leave a review when asked to do so (Broadly)
Throughout all of the statistics, one thing remains clear – online reviews are here to stay.
Reviews are the most powerful tool any business can employ and any consumer can support. The longer you wait to start encouraging them, the more you stand to lose. Regardless if you already utilize reviews, or you’re just getting started, you want to collect as many recent reviews as possible.