Reviews are nowadays very important when it comes to any business. They have their significance in making a business successful or a failure. We have created this post to enlist the benefits and importance of reviews for businesses.
Importance of Reviews
- Rise in Sales
There have been problems with many companies regarding reviews. They fail to get good reviews. For this reason, they use best review management software and online review generators to create only positive reviews because they understand how important positive reviews are. Reviews, usually positive, create an 18% of uplift in the sales of the company or a business.
- New Customers
A study found out that 90% users check online reviews of companies and products before deciding to purchase that. This shows the reviews and comments on certain products about the company and product quality, whether positive or negative, influence the new users. They will decide what they need to do after reading the reviews.
- Trust for Customers
Whenever a user has to purchase something, online or from outlets, they read the reviews of previous customers to see how satisfied they were with the company. And 88% customers trust in reviews available on a product or about the companies.
- Visiting a Business
Similarly, 90% people check the reviews of companies before they decide to visit a company. That means the review nature will affect their decision whether to visit the business or not. and these customers spend 31% more on the businesses with excellent reviews.
- Positive Reviews
When it comes to positive reviews of a business, 72% customers trust positive reviews and it helps them make up their mind to purchase from a certain business. 91% consumers shop from a local business if it has 4-star rating on the website or any social site. This shows the positive reviews are helpful for converting visitors into customers. A single positive review leads to 5-9% more chances of customers and sales.
- Taking an Action
Nowadays, majority of the people read business reviews before they shop from their stores or online shops. Over 70% customers take actions after reading reviews. That means this number of customers find reviews necessary to trust or not to trust a business and before they purchase their desired products.
- Negative Reviews
We have discussed the positive reviews and how they affect the users’ purchasing behavior. The negative reviews are considered bad for a business. That’s why many people use online review generator or best review management software to keep positive reviews. 86% users are reluctant to buy from a business when they see negative reviews. Ne negative review costs companies 30 customers on average.
- Success and Failure
The reviews decide where a company will go in future. Businesses with most of the positive reviews manage to attract more customers as compared to those with most of the negative reviews. Reviews are necessary and businesses without any reviews are not attractive to customers. They believe such a business has not earned a single customer, when it has no reviews on the website.
Interesting Facts About Reviews
- Here are some amazing statistics and facts that further prove the significance of reviews for businesses.
- Use reviews, not those created by online review generator, are 12 times more effective than the product descriptions added by manufacturers.
- 50 or more reviews for a product means 5% increase in the conversion rate of customers for that certain product. This applies to all products and businesses.
- 90% users read less than 10 reviews before they move and decide whether to purchase a product or not.
- According to a study, users who read reviews on cell phones are 127% more likely to buy than those who read on desktops.
- For every star, a business or company gets 5-9% increase in the revenue and sales of the products.
- 22% customers don’t purchase their products from a business or company after reading one negative review. And after 3 negative reviews, the number of users who will not buy jumps to 60%.
- Four or more negative reviews make take away 70% of your potential customers.
- Reviews have the most impact for restaurants and hotels with 75% and 70% respectively. That means 75% people check reviews about a hotel before they visit it.
So, impress your clients and only use the best review management software to record reviews.