Why Online Reviews affect your Business
March 9th, 2022
So, you have a business and have worked to give it an amazing SEO presence online. You work hard at making your products public knowledge and taking the first step to social media fame. Now you want more ... You want a review. However, there is one problem: what if no one ever reviews you? To help answer this question, here are 5 statistics that will make you rethink whether or not online reviews matter.
1) In 2014, Bazaar Voice found that 88% of consumers would be likely to purchase from a brand they were familiar with even if their experience was poor – as long as there were positive reviews for them to read
2) According to ReviewTrackers, the average amount of time between a customer encounter and an online review is 6.6 days
3) According to CNET, Zappos received an average of 8,000 reviews per day during the holiday season between Thanksgiving and Christmas
4) TrustPilot found that 70% of shoppers will not make a purchase if there are no reviews available for their preferred brand(s)
5) A study done by BrightLocal found that 85% of consumers trust online reviews just as much (if not more than ) word-of-mouth recommendations from people they know personally.
So, all in all, it seems like customer reviews streamline the purchasing process for other potential customers, while also building trust in your brand overall. These studies should show you how it is to get your product reviewed, but there are also other key factors to consider. For instance, you won't benefit from reviews if your products don't appear in search engine searches, which brings us right into our next statistics facts
6) According to Yotpo, 92% of online shoppers conduct research before making a purchase – 22% of those who do not end up buying will choose an alternative product after reading positive reviews online
7) In a study done by BrightLocal, 79% of consumers said that they trusted reviews more when they saw that they were verified purchases
8) In a study done by Power Reviews, the average conversion rate for reviewed listings increased by over 26%, while their click-through rates rose by almost 32%.
9) The average amount of reviews on Yelp.com is 4.4, with the most reviewed business having 684 reviews
10) The average conversion rate for reviewed listings is 9%, while the overall conversion rate is only 2.18%
So, what does all this mean? Essentially, online reviews are highly influential when it comes to getting your products or services noticed by potential customers. They help solidify customer trust in your brand and can increase conversions, as well as search engine ranking. At the end of the day, there are countless other factors that play into whether or not your business thrives, but online reviews are certainly one of the most important ones. So why wait any longer? Seek out consumers who would be interested in reading about your product(s) and send them a request asking if they'd mind leaving you an honest review! Then watch as your business skyrockets to the next level.
In summary, although online reviews are now an inevitable part of doing business in today's world, there has never been a better time to get started. If you're still unsure as to why it is important or how you can go about getting your first few reviews, read over our other articles on this subject for more information. Then make sure your future customers know what they're missing out on and give your company a shot at success!
