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What is Affiliate Marketing (+Examples of Affiliate Programs and Beginner Tips)

Grace Pinegar
Grace Pinegar  |  August 15, 2018

40 Statistics Proving the Power of Customer Reviews

Kristen McCabe
Kristen McCabe  |  May 16, 2018

In case you haven’t heard, reviews are all the rage.

Whether it’s finding a hotel, a place to eat dinner, choosing your next television, or software for your company, reviews hold power

Personally, I don’t like buyer’s remorse. Reviews are how I avoid this. If I’m shopping at Target considering a new printer or camera, I have no qualms taking a few minutes to check out the reviews on Amazon before making my final purchase decision.

If you are a marketer (or any business professional!) and you have doubts about using reviews in your strategy, these stats will turn you into a believer.

After you’ve perused the statistical evidence, read our ultimate guide to customer reviews and learn how to put a review strategy into practice!

Customers are reading reviews

  • Nearly 95% of shoppers read online reviews before making a purchase (Spiegel Research Center, 2017)
  • 94% of customers read online reviews (Fan and Fuel, 2016)
  • 93% of local consumers use reviews to determine if a local business is good or bad (BrightLocal, 2017)

The impact of online reviews on sales

  • 92% of B2B buyers are more likely to purchase after reading a trusted review (G2 Crowd and Heinz Marketing, 2017)
  • Displaying reviews can increase conversion by 270% (Spiegel Research Center, 2017)
  • Having five reviews results in purchase likelihood increasing by a factor of almost four times (Spiegel Research Center, 2017)
  • Displaying reviews for higher-priced products can increase conversion rates by 380% (Spiegel Research Center, 2017)
  • Purchase likelihood improves 15% when buyers read verified buyer reviews over anonymous reviews (Spiegel Research Center, 2017)
  • One-to-one peer recommendations, original research, and product reviews are the most influential content in affecting purchase decisions (Content Marketing Institute and SmartBrief, 2017)
  • 97% of shoppers say reviews influence buying decisions (Fan and Fuel, 2016)
  • 68% of Americans report positive reviews making them more likely to use a business (BrightLocal, 2017)
  • Given two products with similar ratings, consumers are more likely to buy the product with more reviews (Psychological Science, 2017)
  • Reviews make 71% of customers are more comfortable purchasing a product (3D Cart)
  • 88% of buyers are influenced in their buying decision by reviews (Zendesk

Consumer engagement with reviews

  • 73% of customers value the written review over the overall star rating (Fan and Fuel, 2016)
  • 68% of consumers look for either information on the reviewer’s experience, or problems the reviewer experienced when reading reviews (Fan and Fuel, 2016)
  • Only 3% of buyers say that reviews never factor into their buying decisions (Fan and Fuel, 2016)
  • Only 13% of shoppers find the seller’s website to be the most helpful when buying consumer goods, and 17% when purchasing services (Fan and Fuel, 2016)
  • 60% of people read online reviews for a local restaurant or cafe (BrightLocal, 2017)
  • 73% of consumers trust a local business more after reading positive reviews (BrightLocal, 2017)
  • 87% of American-based consumers need a business to have a minimum star rating of three or higher (out of five) to use it (BrightLocal, 2017)
  • 54% of consumers visit a local business’s website after reading a positive review (BrightLocal, 2017)
  • 71% of B2B buyers look at reviews during the consideration stage (G2 Crowd and Heinz Marketing, 2017)
  • 67% of B2B buyers rank peer reviews as very important when making a purchase decision (Demand Gen Report, 2017)
  • 82% of buyers consider user-generated reviews to be extremely valuable (3D Cart)
  • 67% of B2B buyers want to see a mix of positive and negative reviews (G2 Crowd and Heinz Marketing, 2017)

Negative reviews

  • 72% of B2B buyers say negative reviews give depth and insight into a product (G2 Crowd and Heinz Marketing, 2017)
  • 40% of B2B buyers say negative reviews help build credibility for a product (G2 Crowd and Heinz Marketing, 2017)
  • 82% of shoppers specifically seek out negative reviews (Power Reviews, 2017)
  • Consumers spend four times as long interacting with negative reviews, with a 67% increase in conversion rate (Spiegel Research Center, 2017)
  • 92% of consumers have difficulties or hesitations purchasing an item with no reviews (Fan and Fuel, 2016)
  • 95% of consumers get suspicious of fake reviews if there are no bad scores (Revoo, 2013)

The process of getting customer reviews

  • 68% of consumers have left a review for a local business after being asked to do so (BrightLocal, 2017)
  • Up to 80% of reviews originate from follow-up emails urging shoppers to review their purchases (Power Reviews, 2017)
  • Consumers with negative experiences are more likely to write a review than those who had a positive experience (Street Fight and Toluma, 2012)
  • Brands can expect their average star rating to increase after emailing buyers a direct link to submit reviews (Spiegel Research Center, 2017)

The need for user-generated content

  • Only 34% of B2B Buyers are willing to consider vendor-related content as trustworthy (Demand Gen Report, 2017)
  • 81% of buyers generally conduct research before bringing in a vendor (Content Marketing Institute and SmartBrief, 2017)
  • 66% of buyers use sources outside of vendor materials during the research phase (Content Marketing Institute and SmartBrief, 2017)
  • Irrelevant content is the number one reason buyers don’t engage with vendors more frequently (Marketo, 2017)
  • Reputation makes up over 25% of a brand’s market value (Deloitte, 2012)
  • User-generated content is trusted by millennials 50% more than traditional media (Crowdtap via VPDM, 2014)

Throughout all of the statistics, one fact remains clear: customer reviews matter.

We are living in a new world when it comes to purchase decisions; the buying process has changed, for both B2B and B2C buyers. 

Regardless of if you already utilize reviews, or you're just getting started with a review strategy, you want recent reviews. (And as many of them as possible!)

Need help getting more reviews? Download our review campaign-in-a-box kit to start your next review campaign!

 

Do you know any additional statistics about customer reviews? Find me on Twitter or LinkedIn, I'm always looking to update the list!

Kristen McCabe
Kristen McCabe

Kristen is a Senior Content Marketing Specialist who loves writing and sharing stories about top-notch marketing. When she isn’t writing, Kristen is all about performing or anything related to her dog, Bella, who may or may not have a whole bunch of virtual doggy friendships on Instagram.