Online reviews have become essential to e-commerce sites as 92% of all consumers read online reviews before making a purchase.
And it doesn’t stop there. There are many studies, infographics and surveysupdatedIn this article, we will cover several popular topics about online reviews as well as a personal favorite consumer review platform that we like to recommend to our customers to increase their conversion rates, SEO results and overall consumer trust. every year that show just how important positive reviews and ratings are to your business. While it is important to have a legitimate product or service worth a good review, there are a few things you can do as a business owner/manager to get the most out of online reviews. In this article, we will cover several popular topics about online reviews as well as a personal favorite consumer review platform that we like to recommend to our customers to increase their conversion rates, SEO results and consumer trust.
What are some stats and why do they matter?
There are several key statistics that directly connect the success of a business and its online reviews. Most of these figures have seen steady increases over the years and continue to rise.
- 92% of all consumers read online reviews
- 85% of consumers trust an online review as much as a personal recommendation
- 72% of consumers will make a purchase decision only after reading a review
- The star rating is the most important factor of a consumer judging a business
- 94% of all consumers would use a business with 4 or more stars
- 40% of consumers form an opinion after reading just 1 to 3 reviews
- 44% of consumers believe a review should be no more than a month old to be relevant
Put it all together and it’s not hard to see the trend here. Almost everyone who buys ANYTHING today will read at least one review. And sometimes, that is all they will need to see to make a decision about their purchase.
The more positive reviews your online store has, the higher your chances of gaining a potential shoppers trust and converting them to a customer. So encourage all your users to leave your business a review as 65% of users will say yes when asked!
Positive vs Negative Reviews
One of the most interesting stats we have come across is that receiving negative reviews is actually not as bad as it use to be. The number of consumers that would not use a business due to a negative review decreased from 68% in 2016 to 40%. Doesn’t make sense? Well it’s actually pretty simple.
See, what consumers tend to want to see is how a business handles negative feedback. In fact, more and more users are less put off with negative reviews and instead are more drawn to a business that handles and resolves a negative review and the situation that caused it out in the open. So do not simply focus on the positives. Make sure you encourage honest reviews and provide feedback for negative reviews as soon as possible. Just don’t get too many of these, your ratio should still be mostly positive.
Fighting Fake Reviews
The other positive that a negative review has is that it makes your business more believable. Since 95% of users lose trust in a business when they don’t see any negative reviews, it’s almost necessary to have them sprinkled in here and there. Noone is perfect and neither is any product or service. Stuff happens. So don’t get bummed out of you get negative reviews because at least it shows consumers you are completely transparent and aren’t just faking reviews. A lot of consumers believe they read fake reviews all the time. And they are probably right. Many people tend to also only vote in absolutes, giving out either 1 star or 5 star reviews. This can also be a problem but there is not much you can do about it.
The best best is to be as transparent as possible by using a trusted review platform where “real” people can be easily recognized. Most of these platforms will have some sort of authentication process that will show that the users who let the review has actually purchased your product.
What about SEO?
Online reviews are actually some of the best ways to constantly improve your SEO. By incorporating user reviews on your online store’s product pages, the user-generated will create fresh and organic search results when people Google a product you sell.
Since product descriptions generally remain static, adding reviews to product pages using a proper customer review platform like Feefo can greatly increase your SEO. A user can search your product or the review of this product but will just end up being linked to your online store which is exactly what you want.
Feefo, a UK-based company founded in 2010, helps businesses eliminate fraudulent feedback and gain more valuable insights by collecting reviews only from verified customers, and shares this data through a platform that integrates with e-commerce sites.
“If, as a consumer, I come to a website and I don’t trust the reviews I’m reading, I’m going to go elsewhere to see where I can find reviews about that business or product,” said Matt Eames, Founder and CCO of Feefo. “The problem, then, for the company is that it could easily lose my business.”
Even when reviews are genuine, businesses with a broad audience and a large volume of products face the challenge of sorting through hundreds, if not thousands of reviews, and leveraging this data to improve customer satisfaction.
Through its tools and integrations, Feefo enables brands to utilize reviews in ways that boost SEO, sales, conversions, and — ultimately — customer satisfaction. Check out this article for an in-depth look info what Feefo can do for your online store.
As always, thanks for reading and keep sending us suggestions on what to cover next.
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