Importance Of Online Reviews
Updated: Sep 10, 2019
Those who are in business already know the power behind online reviews. They've been there, and they have seen with their own eyes what reviews do. It's a magical thing.
If you're a beginner, it may not be as obvious. There's no blame here. How could you know if you didn't go through the process? In your defense, when I started, I didn't yet understand the power of a review. Once we reached a certain amount of reviews, it become clear. It also became clear that focusing on your brand and maintaining an excellent reputation should be your primary focus.
Don't ever neglect your reputation over extra profits, even if it means losing money on a specific client. Your image is everything, and the more you care about it; the more success will come your way.
Just in case you're still a little unsure, here are some statistics I found by quickly searching Google:
Software reviews influence 98% of buyers.
82% of consumers visit review sites because they want to purchase a service or a product.
95% of travelers read reviews before booking.
A one-star increase in rating on Yelp can lead to a 5% to 9% increase in restaurant revenue.
Reviews are the most crucial part of the purchase decision for 90% of US customers.
91% of millennials trust online reviews as much as friends and family.
More than half of consumers won’t use a business if it has less than a 4-star rating.
A single business review can lift its conversions by 10%.
90% of users need less than ten reviews to form an opinion about a business.
72% of customers won’t take action before they read some reviews.
70% of consumers need to read at least four reviews before they can trust a business.
15% of users don’t trust companies without reviews.
Customers could spend 31% more on a business with great reviews.
Positive reviews encourage 68% of consumers to use a local business.
More than four negative reviews about a company or product may decrease sales by 70%.
Those are just a few statistics that always amaze me. Reviews are essential, and if you're starting a business, getting them should be THE focus. It will build credibility and trust almost instantly, which will shorten your sales cycle significantly.