As much as you may find yourself frustrated by online reviews—especially the negative ones—it’s tough to overstate the importance of these reviews for your bottom line. Increasingly, consumers are turning to online reviews to determine if they should shop with a particular business. Is your online reputation strong enough to convert potential customers who may be on the fence about your company? If not, it’s time to enlist help from a reputation management service that can organically grow the number of positive reviews about your business. Below you’ll find a few key statistics to shed light on exactly why this type of service can be so valuable for your sales.
87% of Consumers Read Online Reviews for Local Businesses.
BrightLocal reports that in 2020, 87% of consumers read online reviews for local businesses. This represents a 6% increase from 2019. When looking at reviews, the most important factors for consumers include quantity of reviews, average star rating, and recency of reviews.
Consumers Don’t Trust Star Ratings That Aren’t Backed Up by at Least 40 Reviews.
The same BrightLocal survey indicated that only about 48% of consumers would consider using a business with a rating less than 4 stars. However, consumers don’t tend to place much trust in star ratings that aren’t backed up by plentiful reviews. About 40 reviews are necessary to legitimize a star rating on a given review site. After all, it’s easy to reach a 5-star rating if you only have one or two reviews out there.
74% of People Take Steps to Avoid Engaging with Traditional Advertising.
The 2019 Edelman Trust Barometer Special Report offered an in-depth study of how consumers relate to brands and how brands earn consumer trust. A key takeaway from this survey was that 74% of people use one or more advertising avoidance strategies like installing ad blockers or paying for streaming services to limit ad placements. This is important because it shows that consumers won’t just take a brand’s word for it when they say they can be trusted. The proof is in reviews from other customers who’ve already interacted with that brand.
Looking for a review management service that can help your business grow? Leverage Marketing is ready to help. Schedule a free strategy call with us today or take a look at our own reviews from happy clients on our website.