Online Reviews – A Business Necessity

Online Review Statistics

  1. 97% of people read reviews for local businesses. (BIA/Kelsey)
  2. 90% of respondents who recalled reading online reviews claimed that positive online reviews influenced buying decisions, while 86 percent said buying decisions were influenced by negative online reviews. (Dimensional Research)
  3. 91% of 18-34 year olds trust online reviews as much as personal recommendations. (BrightLocal)
  4. 93% of consumers say online reviews impact their purchasing decisions. (Podium)
  5. 89% of consumers read businesses’ responses to reviews. (BrightLocal)
  6. 93% of people who use a mobile device to research go on to complete a purchase of a product or service. Most purchases happen in physical stores. (Google/Nielson)
  7. 3.3 is the minimum star rating of a business consumers would engage with. (Podium)
  8. 68% of consumers will leave a review if asked. (BrightLocal)

The Value of Positive Reviews

  1. A one-star increase in Yelp rating leads to a 5-9% increase in revenue. (Harvard Business School)
  2. Customers are willing to spend 31% more on a business with excellent reviews. (Invesp)
  3. 92% of B2B buyers are more likely to purchase after reading a trusted review (G2.com)

The Cost of Negative Reviews

  1. 94% say an online review has convinced them to avoid a business. (ReviewTrackers)
  2. Only 13% of consumers will consider using a business that has a 1 or 2 star rating. (SearchEngineLand)
  3. Four out of five consumers have changed their minds about a recommended purchase after reading negative online reviews. (Cone Communications)
  4. Businesses risk losing as many as 22% of customers when just one negative article is found by users considering buying their product. If three negative articles pop up in a search query, the potential for lost customers increases to 59.2%. (Moz)

Industry-Specific Stats

  1. A half-star rating increase translates into a 19 percent greater likelihood that a restaurant’s seats will be full during peak dining times. (UC Berkeley)
  2. 64% of software buyers want to read at least 6 reviews before purchasing. (Capterra)
  3. 82% of consumers read a product review before purchasing an item online. (Qualtrics)

 

In summary, if you are not capitalizing on consumer reviews to boost your business, there’s no better time than the present to start.

 

Ken G.

Ranked Brain & BirdEye – The Reviews Are In!

All-in-One Customer Reviews Software

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One of our new chiropractic clients has pulled in 17 new 5 star reviews in 15 business days! Getting reviews has never been easier! You choose your approach, have the review requests sent as soon as your client leaves, or do them at the end of the day.

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Another new client in the sports industry has pulled in 14 new 5 star reviews in 11business days!

Ranked Brain Reputation Management BirdEye

Ranked Brain Reputation Management BirdEye

 

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