Top 10 Stats About Online Reviews

Elizabeth Rosales by Elizabeth Rosales on October 19, 2016
Top 10 Stats About Online Reviews | Feebd

Online reviews can affect your business in a positive or negative way. Nowadays, the number of consumers that trust online reviews to make a purchase decision is growing rapidly, which means that it is crucial for your business to pay attention to its online reputation and actively develop it.

Online reviews are here to stay whether you like it or not 🙂 So better be prepared, right?.

Here are 10 stats that will show you how important  online reviews are for both your customers and your business:

1) 40% of consumers form an opinion by reading just one to three reviews now vs. 29% in 2014

2) 92% of consumers now read online reviews vs. 88% in 2014

3) 72% say positive reviews make them trust a local business more

4) 95% of unhappy customers are willing to return back to your business if the original issue  is resolved quickly and efficiently.

5) 26% of consumers say it’s important that a local business responds to its reviews.

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

7) 88% trust reviews as much as personal recommendations now vs. 83% in 2014

8) 58% of consumers said they have recently (within the past five years) began leaving more and more online reviews based upon customer service.

9) 100% of customers who make over $150,000 annually claim to leave reviews when it comes to a poor customer service experience.

10) 86% of people will hesitate to purchase from a business that has negative online reviews.

Stats sourced from BrightLocal, Business2community, Bazaarvoice,  webrepublic, reprevive, Econsultancybusiness2community, Reevoo and Social Media Today.