You’ve probably been close to purchasing a product before seeing a review that alters your decision, right? Trust us, we’ve all been there. Commonly, we all look at reviews from others to determine whether or not a product is going to be up to par, whether it’s a sizing issue, the product being faulty, or if the color doesn’t match the description. Either way, what other people say plays a major factor in our decision-making process, hence why reviews play such a vital role to any brand or company! Social Eyes Marketing wants to touch on this subject and explain just how powerful people’s testimonials truly are!
Reviews have always been a go-to for customers to look at before selecting a product they want to purchase, and more times than not those reviews, whether negative or positive, have a substantial impact on the customer’s final decision. Companies should be aware of this, and should try their hardest to fix the issues their customers are having, right? Well, that’s not always the case and is a major reason why companies and brands lose existing and potential customers. However, there are some positives that these companies need to know about when it comes to ratings and reviews. PeopleClaim put together an infographic highlighting some key details about ratings and reviews. They were curious as to how many people were searching for reviews, what they were finding, and what type of decisions they were making based on this information. Here’s what they found out:
75% of reviews posted on websites are positive
95% of unhappy customers will return if an issue is resolved quickly and efficiently
Behind search, ratings and reviews are the second most important feature for a website
71% agree that consumer reviews make them more comfortable that they are buying the right product
82% of consumers considered user generated reviews extremely valuable
Clearly, there seems to be a consistent trend when it comes to trusting a company based on reviews. People trust other people when it comes to reviews of brands and companies because at the end of the day, they’re all trying to purchase that same product, so it’s key to see the positives.
People won’t always like your product… that’s typically a given. Unfortunately, when they decide to take that unhappy opinion to your ratings and review page, that’s when things start to get dicey. People see these poor reviews and get cold feet about purchasing that specific product. Why would they want to purchase something that isn’t worth their time and money? We wouldn’t! To add to all this, PeopleClaim also has stats on the outcome due to negative reviews:
90% of unhappy clients will not do business with the same company again
86.9% of respondents said they would trust a friends recommendation over a review by a critic
83.8% of respondents said they would trust a users review over a critic
At Social Eyes Marketing we understand the impact customers have on your business and know just how important ratings and reviews are to you! With that being said, from a business side of things, we wanted to list some statistics based on ratings and reviews in general and how they play an overall role:
70% of people consult the ratings and reviews before making their purchase
41% of respondents said they read four to seven reviews in 2010 before being comfortable with making a purchase
63% of people are more likely to purchase from a site if it has ratings and reviews
Customer reviews creat 74% increase in product conversion
26% of the 137 top retailers surveyed offered customer rating and reviews BUT 96% of them ranked customer ratings and reviews as an effective or very effective tactic at driving conversion
A highly rated product will increase the likelihood of purchase up to 55%
There are more stats given by PeopleClaim, but we think you get the big picture behind it all! Companies that have a section for ratings and reviews not only see more traffic but set themselves up for more success. Yes, they also have a chance to receive poor reviews, but now they have insight into what they need to change as a whole.
Ratings and reviews are powerful tools that affect both the company itself and the purchasing decisions of the consumer. Today, anyone who is looking to spend money will make sure to do their research beforehand, and oftentimes – as seen through the stats above – will make their decision based on the feedback left from other users! Social Eyes Marketing wants you to realize the impact testimonials truly have and hope you see just how strong they truly are!