Infographic: The Power of Online Customer Reviews—and How it Can Make or Break Your Business
March 1, 2017
Word-of-mouth is a powerful tool. We see it as consumers: You’re more likely to buy into a service if someone you trust advocates for it. Similarly, online customer reviews work just alike and are an added value to your small business. In fact, the mere presence of online reviews produces an average 18% lift in sales.
For instance, if multiple consumers try out your business and share their experience on review sites or social media, you can expect other consumers to come across the reviews and make informed buying decisions, whether positive or negative.
Online Customer Reviews: The Secret Weapon for Small Business
Customer reviews directly impact your brand identity, sales, client retention and more. WebsiteBuilder.org recently published an infographic that shares the impact of user reviews for businesses. Here are some of our key takeaways:
- 90% of consumers read less than 10 reviews before making a buying decision on a company
- Consumer reviews are trusted nearly 12 times more than company-produced reviews or descriptions
- Consumers are likely to spend 31% more on a business with stellar reviews
- A single negative review will cost you an average of 30 customers
- The top 5 industries impacted by negative customer reviews:
- Restaurants (75%)
- Hotels (70%)
- Doctor’s offices (68%)
- Hospitals (67%)
- Hair salons (56%)