Online reviews are prominent in every industry. Almost every single business has a profile on at least one out of hundreds of online review sites. And, when a client is looking for a service or product, they almost always encounter online with reviews when they’re doing their research. So, why are online reviews inescapable and so prominent?
In this blog, you’ll learn about the 5 stats about online reviews that you absolutely must know. At the end, there won’t be any doubt in your mind that managing your online reviews is an important step toward success.
The Most Important 5 Stats About Online Reviews
While there are tons of stats out there on the web, we find these five to be the most impactful. With over a decade of experience, we have seen these statistics in action. We’ve also seen businesses succeed through great online review management. Here’s what you need to know if you want to be run of those thriving businesses:
1. 64% of Consumers Will Search for Reviews Before Making Their Purchase
With so many options out there, consumers can feel overwhelmed when looking for a service or product. On Amazon alone, there are over 20 pages of products to sift through when you search for an iPhone charger. So, what’s a customer to do? Filter!
64% of consumers will search for reviews before making their purchase. Online reviews are a critical way for people to learn about an organization or product. And it all happens before they make a purchase. It’s one point that search engines and retail platforms use to rank their results. Users can even narrow down their search and filter for businesses that only have a top rating.
That makes things a lot easier, which is why so many consumers look for online reviews first. In a world full of competition, getting more online reviews could make a huge difference in your conversions.
2. 85% of Consumers Learn About Local Businesses Through Reviews
In the past, most businesses got new customers through word-of-mouth. Nowadays, consumers have dozens of ways to locate and learn about businesses. It’s all at the tip of their fingers now, and search engines are keen to connect them with great organizations. This process has become so easy that 85% of consumers learn more about businesses through reviews!
This statistic becomes even more impressive because shows that consumers really trust reviews. As honest as most organizations are, consumers are going to check reviews. That’s because reviews are the only user-generated content that they can find online. Even if a business is marketing themselves with 100% transparency, reviews still provide them with great enough insight to help them make their decision.
3. Customers Who See User-Generated Content Are 133% More Likely to Become a Customer
Consumers prefer to read user-generated content before making a buying decision. This is because user-generated content is unbiased and honest. This gives them the chance to really learn about a business or product. After all, it’s only natural for a business to want to present themselves in the best light. So, consumers seek out online reviews tend to feel more informed. In the end, this leaves them more comfortable with their business decision.
Online reviews are pure user-generated content. That explains why customers who see online reviews are 133% more likely to become a customer! The platforms that host reviews, like Yelp, Google My Business, and Facebook, are on the customer’s side. They will not remove a review because it is negative. Instead, they will protect the customer’s right to an honest review. That means the review will stay up unless the content violates their terms of service.
4. Getting More Reviews on Google Increases Your Local Pack Visibility by 15.44%
Studies have found that getting more reviews really does mean better visibility! The number of online reviews that you have can boost your Local Pack visibility on Google by 15.44%!
This is an interesting statistic because it correlates online review management with increased visibility to your customers. Google’s Local Pack is the section you see at the top of a search results page that connects with Google Maps. The information in the Local Pack box shows based on proximity to your location. If you’re in a new city looking for the best Mexican food, you’ll find the top 3 recommended Mexican restaurants in your area.
For service, entertainment, or hospitality businesses, the Google Local Pack is essential. Thankfully, businesses can take direct control of their Local Pack visibility by consistently asking customers to leave new reviews.
5. 64% of Yelp Reviews Give Businesses Four or Five Stars
Despite many people thinking that Yelp is a hive of negativity, the majority of reviews are positive! Based on the self-reported data on Yelp’s website, 64% of Yelp reviews give businesses a four or five-star rating. That means that organizations from all industries are likely going to have a positive experience on Yelp.
Yelp is one of the most popular review websites, so it’s a good reference point to compare other platforms with. Basically, if businesses get great reviews on Yelp, those same businesses should get great reviews on Google and Facebook too.
The fact that businesses are getting positive reviews on Yelp is promising. Those who manage their online reviews can expect to make a greater connection with customers on Yelp.
ReviewU is the first online institution dedicated to helping organizations, managers, marketers, and everyone in-between, understand the importance of online reputation and reviews. To continue building your knowledge, use our courses to learn more.