How Positive Reviews Can (Positively!) Impact Your Business
During the last couple of years, the importance of online reviews has grown tremendously, as businesses in all niches can get both positive and negative impacts based on the reviews that they receive on various platforms, such as Google, Facebook, their own website, or online catalogs.
While it is widely known that reviews can play an important role in the popularity of a business, not many business owners are fully aware of the extent. With this in mind, in a journal posted by WebsiteBuilder, the main positive and negative impacts of reviews have been thoroughly described.
How positive reviews affect your business
Reviews can be scattered across a variety of platforms, yet chances are that in essence, they are similar. 5 main studies were conducted upon the positive impact of reviews on businesses, and the following conclusions were made:
As most reviews give out a number of starts, meant to judge the customer’s satisfaction, it has been noted that for each star a business gets, chances are that it’ll face a 5-9% in business revenue.
Additionally, businesses with excellent reviews are likely to encourage customers to spend around 31% more, above the usual price of the market.
Positive reviews can also be the catalyst to a sense of trustworthiness between a business and its customers. Studies back this claim up, by stating that 72% of customers are likely to trust a business more after reading a couple of positive reviews.
Additionally, regardless of the price, it is also worth pointing out that given an equal pricing and even equal services, guests still remain 3.9 times more likely to pick hotels that have higher ratings and excellent reviews. This way, business owners can help build a better brand awareness, and promote their services to an even higher amount of people without facing too many issues in the meantime.
Conversions and SEO
It has often been stated that numerous positive reviews can contribute from an SEO perspective, by helping businesses show up on platforms such as Google Maps, or Waze. Additionally, business listings that have at least 3-star reviews, are likely to pick up around 41 out of 47 total clicks, thus increasing the number of visitors, and likely, a number of conversions.
Based on everything that has been outlined so far, positive reviews can have a huge impact on the popularity, brand awareness, profitability, and number of customers that a business gets, therefore it is essential for business owners to encourage their customers to leave unbiased reviews, and if issues do arise, owners should focus on making things right with the customer.