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)
- 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!