When you’re putting your product on the internet, don’t think your goal is only selling it. It also collects reviews and adds them to your marketing arsenal to entice others into becoming your customers. However, many novice brands make the mistake of not considering reviews because of one reason – only 5 to 10% of people leave reviews after buying a product. “Why bother” – many businesses think, willing to let go of the benefits that reviews offer.
If you’re one of those businesses that aim to knuckle yourself through success without reviews, think again. Everything from your business’s credibility to the sales it generates relies, for a huge part, on reviews.
Three Critical Statistics About Reviews to Keep in Mind
For 79% Of People, Reviews are the same as personal recommendations
For a long time, there was nothing that could match word-of-mouth. The authenticity, the expressions, and the realness of people who talk about a brand work wonders for its credibility. That is why people often still ask their family and friends before committing to a buying decision. However, the world has changed now with people having much more diverse product options than before, and they can’t rely on the words of their family and friends to buy them.
That pushes them towards the next best thing – product reviews.
Authentic and high-quality reviews are taken in as gospel by 79% of the customers, who then decide to buy the products. If the reviews are bad, this is the percentage of the customer base you can look forward to losing.
Reviews Increase your Sales by 18%
Customers don’t want to take risks with the products anymore. They always look for someone else to try it before giving it a shot. That is why most customers are apprehensive about buying a product from a website that does not have any Google reviews. A website that displays reviews increases the confidence of a customer to purchase a product. For a brand, that translates to increased reliability and credibility.
And when you appear more reliable, more people will be curious about your brand. It will create a snowball effect that will transform these leads into sales at a faster pace. Bottom line, the more reviews you have, the better your chance to earn increased profit. An 18% increase in sales might not seem big for a short time, but compound it over the years, and you will have a sales number that you can be proud of.
Negative Online Reviews Make 86% of the People Hesitant to Buy
If your reviews are bad, a large portion of customers –86% – won’t give your brand a chance. A bad review reflects poorly on your performance, creating a feeling of distrust among the audience.
That said, not having any negative reviews is also bad. It paints a brand as something that tries to control the narrative about its product. Therefore, negative reviews for a product are equally important since they make the brand appear more authentic.
Importance Of a Review For A Brand
The stats we mentioned reinforce the following benefits that customer reviews bring to the table.
Reviews Make You Become Visible Online
Whenever people search for a business, one of the factors other than keywords that Google leverages to show the results are reviews. LocalSEO Guide found that reviews and keywords are the two main factors that Google considers when leading a website on the search result.
Furthermore, when people search for a business on listing sites, reviews and ratings influence the order in which the search results are shown. The same goes for Facebook searches. Reviews also determine the position of the businesses there.
Reviews Provide a Window Into the Cracks of a Company
While only 5 to 10% of people leave a review for a product or a service, the words they use are authentic. Since they are not worried about the implication of posting a bad review – because there isn’t any – you will find customers go above and beyond to use multiple sentences for negative reviews.
While these reviews can deter other customers from investing in the brand, the brand can take these reviews constructively to make some changes and evolve.
Unbiased Reviews Make Businesses Look More Credible
No business is considered credible without a review. And since 78% of customers trust online reviews as if they are personal recommendations, having positive or negative reviews for your product will add credibility to your brand.
However, the keyword here is “unbiased”. Some brands leverage only the bare minimum of online reputation management and suppress negative reviews. More often than not, these negative reviews are legitimate customer complaints. Such an “all-positive-review” approach is perceived as phony by customers, who then decide not to invest in a brand.
Therefore, to be unbiased, companies must entertain negative and positive reviews.
Responding to Reviews Shows that Your Business Cares
This is another factor why negative reviews hold equal importance as positive ones. Responding to negative reviews with kindness and care allows people to look at the customer-support aspect of your company. It creates a “show-don’t-tell” marketing effect that pushes you in a positive light in the eyes of 80% of customers.
Reviews Impact the Purchasing Decision of a Customer
While 86% of customers think of reviews as if they are personal recommendations, 70% base their purchasing decisions around them. It is an aspect that’s true for Google Reviews and more so for eCommerce websites.
There is a reason why products with the most reviews have disproportionately high sales. Even a customer with a biased outlook toward your product will consider reviews before buying. Here, the positive reviews can feed into that customer’s confirmation bias, allowing them to get a sale and retain a customer.
Reviews are Important, But…..
Although reviews are important, they are like double-edged swords. Relying on them too much in the name of integrity will harm your brand.
And the reason can be summed in one word – trolls.
Internet trolls often make it a point to besmirch the name of the brand just because of some unexplainable hatred. It is one of the reasons why terms like review bombing have become so important.
Trolls have immense power that can alter the narrative of your brand in a negative direction. It pushes the people’s perception of your brand in a negative light – making you appear more unauthentic.
……You Need a Balanced Approach Through Online Reputation Management
With Leap Interactive’s Online Reputation Management, you can balance how customers perceive your brand. We will ensure that your positive reviews are highlighted and respond to the real negative reviews with kind words so that you’re always in a positive light.
Contact us today to leap towards a better online reputation.