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35 Reasons Your Business Needs Reviews

1. 92% of consumers now read online reviews vs. 88% in 2014

2. 88% of consumers  trust reviews as much as personal recommendations
 
3. Star rating is the number one factor used by consumers to judge a business 

4. 94% of consumers would use a business with a four-star rating or higher 

5.  72% of buyers will take action ONLY after reading a positive review

6. Only 14% of consumers would consider using a business with a one or two-star rating 

7.  For every 5 Star review a business has its revenue may increase by 5%-9% according to the Harvard Business Review

8. 68% say positive reviews make them trust a local business more

9. 44% say a review must be written within one month to be relevant. This highlights the importance of recency in reviews! 
10. Only reviews from friends and family are trusted more than online reviews. Reviews from experts and celebrity endorsements are less trusted than online reviews

11. 43% of consumers search a business by reviews at least one time per month

12. 60% of consumers have searched a business at least six times per year vs. 56% in 2014 

13. 73% of consumers form an opinion by reading up to six reviews

14. 88% of consumers form an opinion by reading up to ten reviews vs. 84% in 2014. This means it’s important to have a large body of reviews, as customers are reading more reviews now than in all years past. 

15. Over half of young people aged 18 to 34 say they trust online reviews more than the opinions of friends and family

16. 88% of online shoppers incorporate reviews into their purchase decision

17. 26% of consumers say it’s important that a local business responds to its reviews 

18. Reviews produce an average of 18% uplift in sales

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19. 51% of consumers will select a local business if it has positive reviews 

20. 48% will visit a company’s website after reading positive reviews 

21. 23% will visit the business premises directly after reading positive reviews

22. 9% of consumers will phone a business after reading positive reviews

23. Word of mouth is still the most popular method of recommendation for consumers despite a 2% drop year over year

24. Reviews are especially important for local searches as they influence up to 10% of the ranking

25. The three online platforms dedicated to reviews with the most global traffic are: yelp, tripadvisor, foursquare
 
26. 58% of consumers said they have recently (within the past five years) began leaving more and more online reviews based upon customer service

27. 100% of customers who make over $150,000 annually claim to leave reviews when it comes to a poor customer service experience

28. Reviews of 50 or more, per product can mean a 4.6% increase in conversion rates

29. 63% of customers are more likely to make a purchase from a site which has user reviews

30. Customers are 105% more likely to purchase while visiting, when site visitors interact with both reviews and customer questions and answers, and spend 11% more than visitors who don’t interact

31. 64% of consumers would read online reviews when purchasing technology items

32. Between one and three bad online reviews would be enough to deter the majority (67%) of shoppers from purchasing a product or service

33. 86% of people will hesitate to purchase from a business that has negative online reviews

34. Number of reviews posted every minute by Yelp users is 26,380

35. If a business resolves its issue quickly and efficiently, 95% of unhappy customers returns back to your business

All stats sourced from Vendasta, BrightLocal, Bazaarvoice,  Webrepublic, Reprevive, Econsultancy, Reevoo and Social Media Today.

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