With such a diverse and global marketplace, consumers continually look online before choosing a business. The vast majority of consumers pay close attention to reviews, with 95% reporting them as influential in their purchasing decisions¹. Not only do reviews directly impact your reputation and search ranking, but also your sales. Here are some key figures for positive and negative reviews:
Good reviews make your business trustworthy to consumers. They lead to a 17% increase in sales, and an additional 15% increase if they are verified². Consumers will even spend up to 31% more money at a business with excellent reviews¹.
Research shows that just one bad review on Google is enough to send 21.9% of consumers away, and after four bad reviews, 69.9%³. A study by Harvard Business school found that a restaurant with 1 million in annual revenue may be losing as much as $180,000 a year from a negative reputation.
Bad turned Good
While we can do everything to make every single customer happy, bad reviews here and there are inevitable. The good news– the right resolution workflows can turn those unhappy customers into customers for life.
1. “How negative reviews affect business,” Reputation X, 2020.
2. “How Online Reviews Influence Sales,” Spiegel Research Center, 2017
3. “New Study: Data Reveals 67% of Consumers are Influenced by Online Reviews,” Hinckley, Dan, Moz.com, 2015