Online reputation matters for businesses in modern days. Regardless of how big a business is, customers are likely to look for them online.
This means that one of the first things that people will see are online reviews. Without a doubt, online reviews matter, and here are some stats to keep in mind.
Positive and negative reviews matter
A 2016 PowerReviews report noted that 82% of shoppers specifically look for negative reviews.
This isn’t inherently bad, though, as social commerce firm Revoo noted that customers spend five times as long on sites when they deal with negative reviews, which, in turn, results in 85% more conversions.
Customers trust reviews
According to data from BrightLocal, 91% of customers in the 8-34 age range trust online reviews as much as personal recommendations.
This isn’t as straightforward as it seems, though, as their data sys that only 39% of that demographic automatically trust online reviews. 24% say they only trust reviews after verification, and 20% said that they’ll only trust a review backed up by other reviews.
More is better
The same research from BrightLocal noted that, on average, customers need at least 40 online reviews before trusting an average.
Back in 2017, the average only required 34 reviews, suggesting that people expect more when it comes to the veracity of a King Kong agency review and other reviews.
This means that a few bad reviews won’t dissuade people as long as the average score holds up.
Reviews have a clear effect on business revenue
A study from Harvard Business Review noted that, for every star that their score goes up on Yelp, a business sees their revenue go up by 5-9%.
Additionally, ratings didn’t hit chain restaurants as much as it did independent restaurants. Customers also respond to ratings better when they have more reviews.