It’s no secret that online reviews are important. They can make or break a business, and they are a great way to boost your sales. Customer reviews can help you get more business as they’re an easy way for people to find out about your business and decide whether to trust you or not. The question is: exactly how much do customer reviews influence buying decisions? In this article, we will discuss this in more detail.
The power of customer reviews
There are a few different studies that have looked at this question, and the results vary. However, the general consensus is that customer reviews on online review platforms do have a significant impact on buying decisions. A popular study found that 93% of consumers admitted that online reviews influenced their recent purchase decisions. Additionally, 84% of customers say they trust online reviews as much as personal recommendations.
In general, customers will trust a business more if it has good reviews. On the flip side, they’ll be less likely to buy from them if there’s a lot of negative feedback about their products or services online. In fact, 94% of consumers have expressed that they have formerly been convinced to avoid a business after reading negative reviews.
So it’s clear that customer reviews play a significant role in buying decisions – but which aspects of reviews are the most important?
Which factors influence the impact of customer reviews on buying decisions?
When it comes to which factors influence the impact of customer reviews on buying decisions, there are a few key points, including:
The recency of the review
If a review is recent, it will be more likely to have an impact on potential customers. The reason for this is that as technology advances, businesses have the opportunity to improve their offerings more frequently. Additionally, a business may also have changed management over time – so if there are negative reviews from a long time ago about an issue that has since been resolved, customers tend to take this into account.
The tone of the review
The tone of the review is also important when it comes to influencing buying decisions. If a customer leaves a negative review that’s full of vitriol, it will have a different level of impact than if they leave a constructive critique. This is because angry reviews are perceived as less credible, as customers can often be emotional when writing them.
How genuine the review seems
Customers also want to know that a review is genuine. If they’re reading reviews and find one or more that appear overly positive or negative, they’ll be less likely to trust it. Additionally, if too many reviews were left at the same time, or by unknown users, customers will be suspicious. This is because it’s often seen as a sign of fake reviews being left by the business themselves (or their competitors). With so many fake reviews problems affecting the online marketplace, customers have become more aware of what to look out for.
The number of reviews
The more reviews a business has, the greater impact it will have on purchasing decisions. This is because the number of reviews shows the size of your customer base – which speaks volumes about how many people are happy with your product or service.
However, if there’s only one review for a business and it’s negative (or positive) from a verified customer, others will be more likely to trust it as they know that the review has come from a real person who has used the product and/or service.
As we’ve discussed throughout this article, customer reviews do have an impact on buying decisions – but that impact depends on how the reviews are seen and interpreted by the customer.