What’s Going to Happen to Remote Work?
In the aftermath of the pandemic, the perception and role of remote work keep changing. To understand what lies ahead, let’s look at the biggest remote work trends for 2024.
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The increasing digitization of the world has made reviews the primary way for customers to gauge a business. Customers rely on reviews to make better-informed decisions, and companies can directly receive feedback and engage. Below you can find customer review statistics that show the importance of positive online reviews.
Reviews as a Deciding Purchasing Factor
- About 95% of shoppers read the customer reviews before making a purchase online. (PowerReviews, 2016)
- 78% of consumers were satisfied with their final purchase after reading online reviews. (Broadly, 2017)
- 72% of consumers wait to read reviews before they take action and decide to purchase. (TestimonialEngine, 2017)
- Customers are 71% more comfortable purchasing after reading reviews. (3D Cart, 2020)
- Reviews have a more significant impact on the purchase likelihood of higher-priced items (380% more likely) than cheaper ones (190% conversion rate). (Spiegel, 2021)
- 66% of buyers seek information outside of vendor materials during the purchasing process. (CMI and SmartBrief)
- Buyers are 270% more likely to purchase a product that has five reviews than a product with no reviews. (Spiegel)
- Between two products with similar ratings, buyers are more likely to buy the product with more reviews. (PsychologicalScience)
Impact on Businesses
- Businesses that have more than 82.5 reviews earn 54% more revenue than average, whereas companies with less than 82 reviews earn 15% less revenue than average. (Search Engine Land, 2019)
- 15% of Google’s ranking algorithm are derived from online reviews of local businesses. (Ubreall, 2021)
- On average more than 25% of a brand market value is directly linked to its reputation. (Deloitte, 2015)
- Companies with more than nine new reviews every day earn 52% more than average. Businesses with 25 or more new reviews make 108% more than average. (Search Engine Land, 2019)
- Businesses that claim their free listings on at least three review sites earn an average of 36% more revenue. (Search Engine Land, 2019)
- 63% of customers are willing to pay 15% more for the same product or service only to ensure they are a better experience. (Podium, 2021)
Trends in Customer Reviews
- 65% of shoppers want to see more user-generated content in reviews like photos and videos. (PowerReviews, 2019)
- Businesses average 82.5 reviews across all reviewing platforms.(Search Engine Land, 2019)
- 67% of consumers say they wouldn’t use companies if their reviews said they didn’t follow COVID-19 guidelines. (BrightLocal, 2022)
- Customers do not entertain reviews that are older than three months. (BrightLocal, 2022)
- 40% of customers only find reviews that are not older than two weeks relevant. (BrightLocal, 2022)
- Almost all (97%) of consumers use online media when making local purchases. (PRNewswire, 2010)
- Last year 93% of consumers searched online for a local business.(BrightLocal, 2022)
General Customer Reviews Statistics
- Shoppers rated categories like electronics (82%), appliances (80%), and computers (80%) as the most important categories for reviews. (PowerReviews, 2016)
- Industries in which consumers read most reviews are: restaurants, hotels, medical, automotive, and clothing stores. (BrightLocal, 2022)
- Most shoppers (66%) read between 1-10 reviews before making a purchase. (PowerReviews, 2016)
- On average, local businesses have 39 customer reviews on Google, with 74% of businesses have at least one review. (BrightLocal, 2022)
Trust in Online Reviews
- It is estimated that around 10-30% of all online reviews are fake. (100Reviews, 2018)
- 95% of consumers believe reviews are fake or have been censored by the company if they do not have any negative reviews. (HubSpot, 2017)
- 79% of consumers stated that they trust online reviews as much as a personal recommendation from a friend or family. (Statista, 2022)
- Three in four customers avoid and do not trust advertisements. (Edelman, 2019)
- A business needs to have at least 40 online reviews before customers believe its average star rating. (BrightLocal, 2022)
- Customers are 15% more likely to purchase when the reviews are from verified users rather than anonymous reviews. (Spiegel, 2017)
- 83% of shoppers found businesses with genuine reviews from customers on their landing page to be more trustworthy.(BrightLocal, 2022)
Responding Affects Brands
- 33% of customers who got a response from a company after leaving a negative review turned around and left a positive review, while 34% deleted the original negative review. (Mackcollier, 2011)
- Consumers spend 49% more money purchasing from businesses that reply to reviews. (Search Engine Land, 2019)
- 75% of businesses do not respond to any reviews. (Search Engine Land, 2019)
- When companies reply to online reviews, it makes customers feel they care about them (41%), they have excellent customer service (35%), and they are a trustworthy brand (22%). (Bazaarvoice, 2013)
- Businesses that replied to at least 30% of reviews experienced an 80% higher conversion rate than businesses that responded to 10% of reviews. (Uberall, 2019)
- 53% of consumers expect a reply to their review within seven days; however, 63% say they never got an answer from a business. (ReviewTrackers, 2022)
- Businesses that reply to at least 25% of their customer reviews average 35% more revenue. (Search Engine Land, 2019)
- 96% of consumers read business’s replies to reviews. (BrightLocal, 2022)
- Seven out of 10 buyers changed their perception of a brand after the business replied to an online review. (Marketing Charts, 2013)
- Replying to just one customer reviews increases a business’s revenues by 4%. (Search Engine Land, 2019)
Positive and Negative Customer Reviews Statistics
- Most businesses receive on average 19% bad reviews. (Search Engine Land, 2019)
- Employers with bad reviews and reputation have to spend 10% more per hire. (Harvard Business Review, 2016)
- Four out of five customers have changed their mind about a purchase after reading a negative review online. (PRNewswire, 2011)
- If a business has positive reviews, customers spend 31% more. (Broadly, 2017)
- Companies whose reviews are 15-20% negative earn 13% more in annual revenue than businesses whose are 5-10% negative.(Search Engine Land, 2019)
- Negative reviews can make 92% of consumers less likely to use a local business. (BrightLocal, 2022)
- Customers spend more than five times as long on a business’ website when they interact with negative reviews. (Forbes, 2019)
- After reading a positive review, 54% of consumers visit a local business’ website. (BrightLocal, 2022)
- 82% of shoppers seek out negative reviews; among consumers under 45, it jumps to 86%. (PowerofReviews, 2016)
As seen by the customer reviews statistics above, online reviews are a significant factor in the customer’s decision-making process. Businesses need to embrace and invite customers to leave reviews and implement them in their marketing strategy.
Written by shortlister editorial team
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