In case you haven’t heard the news, Customer Reviews are extremely important for any business. Especially so for small businesses. So in 2020, and beyond, they will only become even more pivotal in driving more sales. But does your business have enough reviews?
Whether you’re looking for a garage to make car repairs or looking for a new place to eat, reviews are all the rage. Because customers like yours are researching places, products, and services long before they spend money. They are looking at what others like, don’t like, and would they make the same choice if they had the opportunity.
For the business as well as the consumer, reviews and testimonials can be powerful. So positive reviews can be a form of advocacy for the business and negative reviews can shine a light on the areas that need improvements. But for the consumer, they gain insights from previous buyers that can confirm their perception of your business.
The data speaks for itself
The results of numerous studies clearly show the importance of reviews for your business. So reviews matter, and if you do not have many or any at all, your company is missing out on an incredible amount of opportunities. But don’t let your reviews up to circumstance. Because you can start using Customer Reviews to your advantage right now.
So here’s the proof your customers read online reviews
- 72% of consumers will wait until they read reviews before taking action
- 88+% of online shoppers will incorporate reviews as part of their purchasing decision
- 90+% of consumers read reviews before visiting a business or buying from them
- 93% of customers will read reviews of local businesses to determine its quality
- 95% of B2B buyers are more likely to purchase after reading trusted reviews
Studies from even more sources such as Facebook, Google, and other social media all point to the same truth; people look at reviews. So if your business doesn’t have any reviews or has a few that are more than six months old, you’re missing out on a lot of new opportunities. Because as you can see from the statistics above, people want to read reviews before buying anything, including your products or services.
The impact of Customer Reviews on sales
- When a product or service receives five reviews, the likelihood of it being purchased increases by 270%
- Verified reviews increase likelyhood of purchase by at least 15% over anonymous reviews
- Businesses with at least nine current reviews earn 52% more sales than average
- If a business has 25 current reviews, they earn 108% more sales than average
- Consumers spend 31% more when a business has positive reviews
Again, reviews have a big impact on your business and your bottom line. Just a handful of current reviews can mean a big increase in sales, year over year. Because businesses with more reviews make a lot more sales annually.
The numbers don’t lie; if you want to make more money, you need more current reviews.
Customer Reviews engage a lot more buyers
- Reviews account for 10% – 15% of Google’s method for ranking local businesses
- About 50% of all consumers want to see at least a 4-star rating to consider a business
- 54% of consumers will visit a business’ website after reading a positive review
- 67% of B2B buyers want to see a mix of reviews, good and bad, when researching a business
- 92% of all consumers trust peer recommendations
Engaging consumers is the key to your success. Because the better the job you do of giving potential buyers the information that they’re looking for, the more likely you’ll get their business. So making your reviews readily available to your website visitors is a top priority.
But what happens when you have no customer reviews or only a few, old ones?
The importance of replying to your Customer Reviews
- Businesses that do not reply to reviews see a 15% greater churn rate
- 41% of consumers say that a company replying to reviews makes them feel the company cares
- Also, consumers spend about 49% more at companies that reply to reviews of their products or services
- 53% of consumers expect a business to reply to their online review with 7 days
- 75% of businesses do not respond to their reviews
An incredible 63% of all consumers will check Google reviews, more than any other review site. So if they cannot find your business or any reviews, what kind of damage is that doing to your sales? Because now more than ever, smart shoppers want to see reviews before spending their money.
Negative reviews have an impact too
- The average for negative reviews is approximately 19% of all reviews received by businesses
- Too many negative reviews can stop as much as 40% of consumers from buying from your business
- However, 72% of B2B buyers say that negative reviews give depth and contrast on products or services
- 82% of consumers actively seek out negative reviews
- The “sweet spot” seems to be right around 4.2 – 4.7 stars to attract the most sales
So some negative reviews can be a boon to your sales too. Because it lends credibility to the fact that not everyone is going to love your business all of the time. But too many negative marks begin to have the opposite effect and can hurt your sales.
However, having a few pig tracks and responding to them with positive results will show your potential customers that you care. Specifically that you care about their experience and you are willing to learn from your mistakes.
How to get more reviews
- Emailing customers direct links to submit reviews can increase your average star rating
- 68% of consumers have left reviews for local businesses after being asked to do so
- Roughly 75% of consumers are willing to answer one to five survey questions
- Upwards of 80% of reviews come from follow-up emails requesting a review of their purchase
- ROI Ninjas has integrated tools for managing and responding to reviews on Google and Facebook
Since 2019 (and COVID), the number of people that search for reviews every day has been increasing. So far that number continues to grow from 27% in 2019 to 34% in 2021. But in 2020, a whopping 94% state that positive online reviews make them feel more likely to buy from a business.
- Over 25% of your brand’s market value is made up from your business’s reputation
- 66% of consumers use sources outside of your marketing materials during researching a product or service
- 76% of buyers are more likely to trust content shared by their peers than supplied by your company
- 78% of customers that read reviews are satisfied with their purchase
- 83% of people think that user-generated content (reviews) on their landing pages is trustworthy
Reviews generated by your users or customers are a key engagement factor for more potential customers. If you want more sales, you have to have more user-generated reviews. Because a high percentage of people want to see what experiences other have had with your business, your products, and/or your services. It’s just as simple as that.
Customer Reviews: the numbers don’t lie
Men lie. Women lie. But the numbers don’t! People want to see reviews, good and bad so that they can make more informed buying decisions. So every business there is, needs to have current online reviews.
However, if you are still struggling to get reviews, your business is missing out on making more sales. And the only way you will ever change that is by getting focused on getting more reviews.
Or you can use our service, ROI Ninjas to automatically generate a lot more customer reviews. It’s easy and it’s convenient to use as part of your digital marketing efforts. So pick up the phone and call us today or you can get started right away by checking out our ROI Ninjas Sign-Up page.
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