Think about the last item you purchased: whether it was a life-size Lady Gaga doll or an amazing pair of athletic socks, you probably did a little research before you made the transaction, comparing prices, models, but more importantly, customer reviews.
According to a recent infographic from peopleclaim.com, 63% of people are more likely to purchase a product from a site if it has product ratings and reviews. Furthermore, ratings and reviews are the second most important site features for a business, just behind the “search” function. Here are some more key numbers that are noteworthy:
- 71% of people agree that consumer reviews make them more comfortable that they are buying the right product or service
- 70% of people consult reviews/ratings before purchasing
- Customer reviews create a 74% increase in product conversion
- 82% of consumers consider user generated reviews extremely valuable or valuable
Earlier this year, we discussed social commerce and how peer recommendations will continue to play a pivotal role in driving conversions for businesses. Social media has created a very transparent culture, where we can share anything and everything with our friends and family, including reviews. Understanding the importance of product recommendations can help you establish an overall stronger online presence for your business.
If you’re concerned about negative reviews scaring customers away, don’t freak out just yet. Studies show that 95% of unhappy customers will return if an issue is resolved quickly and efficiently. So the way that you handle a bad review or experience is almost as important as the initial experience itself!
Whether good or bad, it’s been shown that having product/customer reviews of your business impacts the number of new leads you get. Having your company on review sites like Yelp and Angi will help maximize exposure and encourage people to write about your products. You can take it a step further and become more proactive by emailing your customers after they’ve completed a transaction, encouraging them to write a review on what they purchased.
The importance of product reviews and recommendations cannot be emphasized enough. If you do not have any for your eCommerce business you are missing out on potential opportunities to gain new clients and more exposure. Like that old saying goes, the power is with the people!