20 Reasons Why Online Reviews Matter
Over the last few years there has been an explosion in the number of reviews that have been written online. They have arrived in many forms, be they formal reviews left on eCommerce sites, forums, thoughts left on the comments section of a website or opinions written on social media platforms. User Generated Content has grown in both quantity and influence.
The idea of buying something online nowadays and not checking reviews is unthinkable. eCommerce sites can no longer afford to ignore the power of consumer opinions and are missing out on sales by doing so.
Still not convinced? Let Aspectiva show you.
Ever thought that online reviews were important but didn’t have the stats to prove it? Here are our top 20 findings from across the internet that prove the power of User Generated Content.
- 88% of consumers trust online reviews as much as a personal recommendation [Forbes]
- Shoppers who interact with online reviews and opinions are 97% more likely to convert with a retailer than customers who does not [Business Insider]
- According to a 2015 Nielsen study, two-thirds say they trust consumer opinions posted online [Nielsen]
- Mintel found that ‘’opinion seeking is correlated with a higher household income and these consumers are therefore able to consider other factors beyond price in their purchase decision’. Bottom line, those that are influenced by reviews spend more on their purchase on average.’ [Mintel]
- A survey of millennials found that UGC is 35% more memorable than other media, and 50% more trusted [Business 2 Community]
- 65% of people say user-generated content is more honest and genuine than other information they find online [Venngage]
- Building on the above stats, online shoppers will go to another website if they don’t find the product they want in the first 10-20 seconds. Key learning, make sure that UGC has a prominent position on your website [Website Magazine]
- 30% of shoppers start their online experience in search. For retailers, the ability to power UGC to show the most suitable search results can significantly increase conversion [eConsultancy]
- During the research phase, 55% sought reviews whereas only 26% looked for feature advertisements [AdWeek]
- 40% of consumers form an opinion by reading just one to three reviews. This is up from 29% in 2014. 88% of consumers form an opinion by reading up to 10 reviews [Bright Local]
- 87% of potential customers won’t consider businesses with low ratings [Search Engine Land]
- 53% of consumers won’t book a hotel that has no reviews [Hospitality Net]
- 23% will visit the business premises directly after reading a positive review [Vendasta]
- 95% of consumers suspect censorship or faked reviews when they don’t see bad scores [Small Business Funding]
- Over half of young people aged 18 to 34 say they trust online reviews more than the opinions of friends and family [Fortune]
- 100% of customers who make over $150,000 annually claim to leave reviews when it comes to a poor customer service experience [Marketing Charts]
- Reviews of 50 or more per product can mean a 4.6% increase in conversion rates [Automated Marketing Group]
- 68% of consumers trust reviews more when they see both good and bad scores [Hot Cakes Commerce]
- 77% of brand conversations on social media are people looking for advice, information, or help. 18% were positive reviews of the brand [AdWeek]
Aspectiva analyzes massive volumes of consumer opinions, turning them into comprehensive and valuable insights. Based on Artificial Intelligence and Natural Language Processing technologies, we leverage User Generated Content to help online shoppers search for the products they want and provide the recommendations to enable them to make informed purchasing decisions. Supporting eCommerce sites across any type of product or service, Aspectiva significantly increases shopper engagement and conversion rates.
Contact us to find out more.