online reviews - resourceful business€¦ · sources: vendasta, 50 shocking stats about online...

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Online Reviews 10 Compelling Reasons to Manage Your Reputation 86% of people would pay more for services from a company with higher ratings and reviews. More than of consumers regularly check reviews online before making a purchase or decision. On average, more than of a company’s market value is directly attributable to its reputation. of customers are likely to spend more on a business with “excellent” reviews. 71% of consumers say that customer reviews (user-generated product reviews) have the greatest impact on their buying behavior. 83% of buyers say they no longer trust advertising, but most trust recommendations from users online. of consumers reported that positive customer reviews make them more likely to use a local business compared to just 28% who make their selection based on factors like location and price. Google review count and score are factored into local search ranking: more reviews and positive ratings will probably improve a business's local ranking. Sources: Vendasta, 50 Shocking Stats About Online Reputation Management Infographic, 2016 | HBS Working Paper Series, Reviews, Reputation, and Revenue: The Case of Yelp.com, 2016 Insight Marketing Group, The Anatomy of Online Reputation Management Infographic, 2012 | Deloitte, 2014 Global Survey on Reputation Risk, Reputation@Risk, 2014 |Invesp, The Importance of Online Customer Reviews Infographic, 2015 | BrightLocal, Local Consumer Review Survey, 2014 |The e-tailing Group and PowerReviews, Social Shopping Survey 2.0: Customer Trust and Online Shopping, 2010 | Hubspot, A Marketer’s Guide to Accumulating Awesome Online Reviews, 2012 | Google My Business Help, Improve your local ranking on Google copyright: 2017. All rights reserved by Resourceful Business. Permission granted to publish intact with links to resourcefulbusiness.com. 92% 52% A one-star increase in Yelp rating leads to a 5 to 9 percent increase in revenue. of consumers trust online reviews as much as personal recommendations. 88 % $ $$ 25% 31%

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Page 1: Online Reviews - Resourceful Business€¦ · Sources: Vendasta, 50 Shocking Stats About Online Reputation Management Infographic, 2016 | HBS Working Paper Series, Reviews, Reputation,

Online Reviews10 Compelling Reasons to Manage Your Reputation

86% of people would pay more for services from a company with higher ratings and reviews.

More than of consumers regularlycheck reviews onlinebefore making a purchase or decision.

On average, more than

of a company’smarket valueis directly attributableto its reputation.

of customers are likely to spend more on a business with “excellent” reviews.

71% of consumerssay that customer reviews(user-generated productreviews) have the greatestimpact on their buying behavior.

83% of buyerssay they no longer trust advertising, but most trustrecommendationsfrom usersonline.

of consumers reported that positive customer reviews make them more likely to use a local business compared to just 28% who make their selection based on factors like location and price.

Google review count and score are factored into local search ranking: more reviews and positive ratings will probably improve a business's local ranking.

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92% 52%

A one-star increasein Yelp rating leadsto a 5 to 9 percentincrease in revenue.

of consumers trustonline reviews asmuch as personalrecommendations.

88%$ $ $

25%

31%