Over the years, the wide-ranging popularity of online reviews and customer feedback has grown significantly. Online reviews help individuals decide which services and products they want to buy or decide where they should travel, eat, and more. Over time, online reviews have become an intrinsic part of any online business.
Many studies were conducted to help identify the exact impact of negative and positive reviews on some sales, popularity, conversion rate, profitability, product awareness, and more.
Positive Impacts of Reviews on an Online Business
Reviews deliver great positive impacts for any online business, such as:
- Positive reviews improves the probability of persuading clients to pay more for services and products. Indeed, studies revealed that purchasers are likely to spend around 31% more on items and services from companies or businesses that have superb online reviews.
- Unpleasant or negative reviews will definitely affect your business. In terms of the 5-star system, for each star that a business obtains, an online business’s income can increase by anywhere from 5% to 9%.
- Studies revealed that 85% of customers trust online reviews much more than personal recommendations.
Online Reviews Impact Buying Decisions
Put yourself in your customers’ shoes. When you need to buy a product or service, what do you actually do first? Odds are you do online research and take a closer look at what other individuals are saying regarding the item or services you are interested in buying. If you somehow managed to ask your customers how they actually purchase items or services online, chances are they also looked at online reviews.
This implies that your business must have action plans to earn positive reviews, continuously monitor reviews, respond to positive and negative reviews, and promote positive reviews.
Trustalyze Helps You Know What Your Customers Are Saying
A trusted business review company like Trustalyze provides your online business with the tools you need to gather and verify online reviews about your business, products, or services. Trustalyze does more than just provide a system to collect reviews from customers. The reviews Trustalyze collects can only come from customers that make an actual purchase through your site. When prospective customers view your branded profile page on Trustalyze, they’ll know that the reviews they are seeing about your business are real and verified.
Establishing a good online reputation is vital to succeed in the online world, so strive hard to obtain real reviews from your customers.