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We asked participants, “When making a major purchase such as an appliance, a smart phone, or even a car, how important are online reviews in your decision-making?”
The results revealed that online reviews impact 67.7% of respondents' purchasing decisions. More than half of the respondents (54.7%) admitted that online reviews are fairly, very, or absolutely an important part of their decision-making process.
Takeaway: Companies need to take reviews seriously. Restaurant review stories receive all the press, but most companies will eventually have pages from review sites ranking for their names. Building a strong base of positive reviews now will help protect against any negative reviews down the road.
When do negative reviews cost your business customers?
Our research also uncovered that businesses risk losing as many as 22% of customers when just one negative article is found by users considering buying their product. If three negative articles pop up in a search query, the potential for lost customers increases to 59.2%. Have four or more negative articles about your company or product appearing in Google search results? You’re likely to lose 70% of potential customers....
Ignore online reviews at your own peril, as they greatly influence prospects who are looking to do business with your brand. Powerful proof that word of mouth and reviews matter. Recommended reading. 9/10