4 Online Reputation Statistics You Need to be Aware of for Your Business

SHARE

Every smart business owner should be collecting data about their online reputation. This will allow them to paint a picture of what works and what doesn’t. It should also communicate the importance of cultivating and growing your online reputation.

Your online reputation can make or break your business. Unfortunately, simply stating this fact often times isn’t enough to drive action. That’s why it’s important to view statistical data to gain a true understanding of just how important your online reputation really is to the long-term success of your business.

Let’s take a look at four statistics that are crucial to your online reputation.

  • 86% of consumers read reviews for local businesses

Source: Local Consumer Review Survey

Want to know the secret to curating trust in first-time buyers? Encourage your customers to leave positive reviews. Many new buyers rely primarily on online reviews to help them reach a purchasing decision. It’s vital you do everything you can to garner as many online reviews as you can to make their decision that much easier.

  • 40% of consumers only take into account reviews written within the past 2 weeks

Source: Local Consumer Review Survey

While a dozen or so five-star reviews will do wonders for your reputation, the older they are the lesser their impact. Online reviews shouldn’t just be a onetime thing. You need to actively work to gather reviews so that your business stays relevant in today’s fast-paced online environment.

  • The purchase likelihood for a product with five reviews is 270% greater than a product with 0 reviews

Source: Spiegel Research Center, How Online Reviews Influence Sales

Consumers largely rely upon the experiences of others to determine the trustworthiness of a business they’re unfamiliar with. It can’t be stressed enough how vitally important it is to encourage your current customers to leave great online reviews for your business.

  • Businesses ranking in Google’s local positions 1 – 3 have an average of 47 reviews, while businesses in positions 7 – 10 have 38 reviews

Source: BrightLocal, Google Reviews Study

Running a local business can be an entirely different animal then running an online business. Your chief focus often revolves around driving local traffic through your front door. Just like online businesses, however, local businesses rely heavily upon online reviews to increase their reputation. It’s recommended that local business owners aim for more than 47 reviews to stand out during Google searches.

Final thoughts

By analyzing the statistical data on how online reviews can impact your business, you can take the appropriate actions to boost your reputation. Garnering a healthy flow of positive reviews doesn’t just happen overnight. It takes time and effort.

When it’s all said and done, however, you’ll be able to reap the rewards of all of your hard work as you draw in new customers and boost your bottom line.

SHARE

Leave a Reply

Your email address will not be published. Required fields are marked *