How much of a difference can a few stars make in a business’s bottom line? According to recent data, reviews can pack quite a punch. Whether it’s Facebook, Google, Yelp, or something a bit more industry-specific, online reviews can be a deal maker or breaker for inquisitive customers. Just think back to the last time you needed to find a new tire shop or restaurant for date night. You probably asked a few friends, but we’ll bet dollars to donuts you didn’t trust your friends enough to not vet their recommendations by checking online reviews. Don’t worry, you’re not a bad friend and you don’t have trust issues, because everyone else does the same thing.
Ninety percent of consumers will read reviews before visiting a business.
As you’re letting that staggering number sink in a bit, here’s why that number is even more powerful than you realize.
- 88% of consumers trust online reviews as much as a personal recommendation
- Businesses with excellent reviews earn 31% more from consumers
- 72% of consumers say positive reviews make them trust companies more
- 92% of consumers will buy from a company if it has a 4-star rating
- 72% of consumers will buy after reading a good review
- 32% of consumers will read 4-6 reviews before they trust a company
- 86% will hesitate buying from a business that has bad online reviews
- Yelp reports that a one-star increase will boost sales by 5-9% while just one negative review can cost a business 30 customers