Bad reviews could destroy your business in 2024.
People actually care about them. Who would have thought?
A staggering 90% of consumers read online reviews before visiting a business, and an even more surprising 88% of consumers trust these reviews as much as they do personal recommendations. This new age word-of-mouth marketing method has the power to either skyrocket your business or hold it from reaching its potential.
But how else do online reviews impact customer behavior and business performance? What is the significance of star ratings? How important is it for businesses to respond to both positive and negative feedback? To give you a comprehensive understanding, we’ve curated 41 compelling statistics about online reviews that every business owner, marketer, or customer service representative should know. These figures reveal the weight of online reviews in the current marketplace and underscore their growing importance in shaping business outcomes.
So, whether you’re a small business trying to make your mark, a large corporation seeking to maintain its reputation, or a keen consumer interested in the interplay between reviews and purchasing behaviors, these statistics will provide you invaluable insights. Join us as we delve into the intricate world of online reviews and explore their immense influence in today’s business landscape.
41 Statistics About Online Reviews for 2024
- 90% of consumers read online reviews before visiting a business.
- 88% of consumers trust online reviews as much as personal recommendations.
- 86% of consumers hesitate to purchase from businesses that have negative online reviews.
- 74% of consumers say that positive reviews make them trust a local business more.
- Customers are likely to spend 31% more on a business with excellent reviews.
- 72% of consumers will take action only after reading a positive review.
- 92% of users will use a local business if it has at least a 4-star rating.
- 72% of consumers say that responding to reviews shows that a company cares about its customers.
- A negative review can drive away approximately 94% of customers.
- 80% of consumers believe that businesses care more about them if they see management responding to reviews.
- Reviews that are answered generate 12% more revenue.
- 52% of customers expect a response within 7 days to their online review.
- 53% of customers expect businesses to reply to negative reviews within a week.
- 45% of consumers say they’re more likely to visit a business that responds to negative reviews.
- The average consumer reads 10 reviews before feeling able to trust a business.
- Each star in a rating can lead to a 5-9% effect on the business’s revenue.
- 68% of consumers look for either the quantity or quality of reviews when forming an opinion about a local business.
- Businesses risk losing as many as 22% of customers when just one negative article is found by users.
- 64% of consumers say they are likely to check online reviews on Google before visiting a business — more than any other review site.
- Nearly 60% of consumers look at online reviews at least weekly.
- Three negative reviews can lead to a decrease in sales by up to 59%.
- Customers could potentially pay up to 31% more for a business with excellent reviews.
- About 57% of consumers will only use a business if it has 4 or more stars.
- Yelp and Facebook are the second and third most trusted review sites, after Google.
- 40% of consumers form an opinion by reading just 1-3 reviews.
- Mobile apps with ratings below three stars in the app store are likely to be downloaded less frequently.
- 91% of millennials trust online reviews as much as personal recommendations.
- Approximately 50% of customers often or always check reviews, but rarely write them.
- Over 50% of people say they would never use a company with less than a 4-star rating.
- Positive reviews can improve the click-through rates of businesses by up to 25%.
- Online review responses can increase customer advocacy by 16%.
- Almost 95% of shoppers read online reviews before making a purchase.
- It takes around 40 positive customer experiences to undo the damage of a single negative review.
- 54% of people visit a website after reading positive reviews.
- Over 70% of consumers will leave a review for a business if they’re asked.
- 65% of consumers see online search as the most trusted source of information about people and companies.
- More than 20% of consumers believe that reviews older than 2 weeks are irrelevant.
- 88% of consumers form an opinion by reading up to 10 reviews.
- 30% of consumers assume online reviews are fake if there are no negative ones.
- A one-star increase on Yelp can lead to a 5-9% increase in revenue.
- Approximately 80% of people have changed their minds about a purchase based solely on the negative information they found online
As we conclude this insightful journey through the world of online reviews, it’s clear that they hold an undeniably powerful sway over the business landscape. From shaping consumer purchasing decisions to impacting a company’s reputation, online reviews are a force to be reckoned with.
The 41 statistics we’ve explored today underline the immense influence reviews exert in our increasingly digital marketplace. They have highlighted the urgency for businesses to take an active role in not only monitoring their online reviews but also in responding to them – both the positive and the negative.
Every star counts – embrace transparency in 2024
Remember, every star in your rating counts, every customer’s voice matters, and every response can make a difference. Whether you are a marketer seeking ways to enhance your brand’s image or a consumer attempting to make an informed purchasing decision, the power of online reviews is undeniable.
In the end, the key takeaway is this: Embrace the transparency of the digital age. Be proactive in managing your online reputation. Prioritize customer satisfaction and remember that in the realm of online reviews, every customer interaction is an opportunity to show the world the best your business has to offer. Harness the power of online reviews and let them be the stepping stones to your business success.
