How Important are Online Reviews?
Online reviews can have a significant impact on your bottom line. In fact, 92% of consumers read online reviews before making a purchase. They also trust online reviews just as much as if they were coming from friends and family. Furthermore, consumers are more likely to choose a local business if it has positive ratings.
But just how seriously do consumers take online reviews? They’re just online opinions, right?
It turns out that online reviews are highly valuable to consumers.
Consumers Read Reviews Prior to Making a Purchase
According to a Nielsen study, 82% of consumers go to review sites because they want to buy a product or service. Eight-nine percent of consumers make a purchase within one week of visiting a review site, and 29% make the purchase on the same day. What this means is that consumers check out reviews before buying something, so what they read influences their purchasing choices.
Consumers Spend More With Good Ratings
Not only do good reviews make customers more likely to believe in your product or service, but also they can encourage people to spend more. A Cornell University study found that a hotel can raise its prices by having higher star ratings. For every one-point increase in star ratings, a hotel can raise its prices by 11%.
Hotel prices aren’t the only things people will pay more for. Consumers will spend 31% more on a business with excellent reviews, and 92% will use a local business if it has 4+ or more stars.
Where to Leave Reviews
In order for online reviews to benefit your company, you must encourage them from customers. The best place to start is with social media. Ask your fans and followers to leave you a review on a site where your business is listed. Numerous review sites are available and include:
- Website reviews
It’s possible that your website is already listed on these sites, but it’s also possible that they aren’t. Do a quick check and claim your listing if it’s not already done. Additionally, search for your competitors to see which review sites they are listed on. You want your business to be there, too.
Online reviews build trust and loyalty. They are also good for SEO and visibility. If you would like to learn more about enhancing your online presence and building a following, contact the social pros at WSI Net Advantage at 510-687-9737.