It's no secret, customer reviews are one of the most influential forms of marketing available to businesses. Today, we're going to look at exactly why they're so important, and how they can make a huge difference to the way your business is perceived and engaged with. From how they sway what people buy to how they shape a brand's image, we'll cover it all. Let's jump in!
Customer engagement with reviews
- Over 95% of customers engage with online reviews before committing to a purchase (Global Newswire).
- A remarkable 89% of global consumers actively incorporate reading online reviews into their buying journey (Trustpilot).
- Nearly half of consumers, at 49%, trust online reviews as much as personal recommendations, marking a shift in consumer behaviour (Bright Local).
- Approximately 36% of internet users aged 25 to 34 leverage online reviews for brand and product research (Statista).
The impact of reviews on purchasing behaviour
- Authentic reviews hold substantial sway, with 92.4% of respondents claiming that reading a trusted review increases the likelihood of purchasing a B2B product (G2).
- Consumers' reliance on rating filters is evident, as 70% admit to using them when browsing businesses, particularly favouring those with 4-star ratings and above (Review Trackers).
Reviews highlight trust and credibility
- Trust is a key element, with 74% of consumers stating that reviews significantly contribute to building trust in a company (Finances Online).
- A substantial 68% express skepticism toward a high review rating unless accompanied by a substantial quantity of reviews (Podium).
- For consumers to consider engaging with a business, an average rating of 3.4 stars is deemed necessary (Podium).
How reviews influence customer behaviour
- The influence of reviews is evident, with one review alone increasing the likelihood of consumers clicking the "buy" button by 65% (USA Today).
- Reputation is a substantial contributor to a company's market value, accounting for 52%, emphasising the impact of reviews on overall perception (PR Week).
- An overwhelming 88% of customers claim that online reviews have a significant influence on their buying decisions (Zendesk).
How reviews influence conversion rates
- Displaying online reviews results in a staggering 270% increase in conversion rates, showcasing the power of social proof (Spiegel Research Center).
- Higher-priced items experience a 190% higher conversion rate with reviews, emphasising their impact on consumer confidence (Spiegel Research Center).
- Positive reviews not only attract customers but also increase spending by an impressive 31% (Bright Local).
The impact of negative reviews
- Overcoming the damage caused by one negative review requires approximately 40 positive reviews, underscoring the challenge posed by negative feedback (Inc.).
- Surprisingly, consumers spend four times as long on a site when interacting with negative reviews, presenting an opportunity for businesses to address concerns and engage effectively (Spiegel Research Center).
- Negative reviews are shared slightly more than positive ones, with 49% sharing poor experiences compared to 38% sharing positive ones (Zendesk).
The importance of responding to reviews
- A significant 55% of consumers express positivity towards a business that responds to their reviews, highlighting the importance of engagement (Bright Local).
- Quick responses are crucial, as 53% of consumers expect a reply to negative reviews within a week, emphasizing the need for prompt customer service (Review Trackers).
- 45% of consumers report being more likely to visit a business if it responds to negative reviews, showcasing the potential for reputation management (Review Trackers).
The number of people leaving reviews
- Among global internet users aged 25-34, 52% actively post reviews online, shedding light on the demographics of review contributors (Statista).
- Follow-up emails play a significant role, with 80% of online reviews originating from businesses' friendly requests for feedback (Spiegel Research Center).
Market dynamics
- A handful of platforms, including Google, Yelp, TripAdvisor, and Facebook, control a substantial 88% of all online reviews (Review Trackers).
- Google holds a dominant position, with 73% of all reviews, underscoring its pivotal role in shaping online perceptions (Review Trackers).
- In 2020, Google's review growth soared by 65%, indicating the increasing reliance on online reviews for decision-making (Review Trackers)