An Inside Look at the Science of Online Reviews

Online reviews are a vital source of information for consumers—and a potentially vital source of customers for businesses. 90 percent of customers read online reviews on sites like Yelp before visiting a business they have never been to before. Naturally, it is only good reviews that encourage customers to come into a business.

The good news for businesses is that not only do good online reviews drive customers to their businesses, they also encourage people to spend more—an impressive 31 percent more in fact.

Each additional star earned on Yelp will get a business a 5-9 percent increase in revenues. Good reviews prime the pump such that people are expecting to get a good experience in a place that gets good reviews, and people are willing to spend more money in a place where they are having a good experience. More than ever, making sure customers are having a great experience is vital to profitability.

Negative reviews can kill a business. Not only can a single negative review cost restaurants up to 30 customers a night, 86 percent of people will outright avoid a business with negative online reviews. Some negative reviews may include inaccuracies, so it is important to correct those when they arise. For the rest, it’s important to both admit mistakes and attempt to correct those things which were criticized.

While many businesses allow people to leave reviews on their own websites, as Forbes points out, it is important to pay attention to off-site rankings. At the same time, it can help a business get more immediate feedback and help with search engine rankings if it allows people to leave feedback on its website. It also allows a business to more directly respond to customer concerns and provide them with reasons to give the business a second chance.

Follow us on social media for the latest updates in B2B!

Image

Latest

AI in content marketing
Generative AI in Content Marketing: Why Creativity & Authenticity Will Make it Work
July 11, 2024

Will 2024 be known as the year AI made waves in content marketing? It sure seems so, with recent AI-driven ads from Toys R Us and Under Armour generating significant buzz online. Not just this: Despite having no official ties to the brand, a mock Volvo ad created entirely by AI has also gone…

Read More
Hiring Made Human: Hiring When You’re a Start-Up
July 11, 2024

The challenges of hiring for a startup have become more pronounced these days than ever. With technological advancements and evolving market demands, startups must be agile and strategic in their hiring practices to ensure success. According to some studies, nearly 90 percent of startups fail, with a significant factor being the inability to attract…

Read More
Focus on the Customer
Fifth Inning – Focus on the Customer
July 11, 2024

In a compelling narrative by Jesse Cole, the Savannah Bananas, a baseball team known for its unconventional approach, has declared advertising dead. Cole emphatically asserts that while advertising may attract customers, it is the fan experience that fosters lasting loyalty. In a bold move, the Savannah Bananas have eliminated all forms of advertising at…

Read More
Dr. Mark Manera talks Trucking Industry
The Trucking Industry Needs a Fitness Overhaul to Jumpstart a Trucking Health Revolution
July 11, 2024

With the trucking industry seeing many changes that prioritize efficiency and productivity, the health of truck drivers has increasingly peaked as a critical concern. With life expectancies for truck drivers averaging 16 years less than the general population, there is an urgent need to address health issues within the industry. Recent initiatives, like the…

Read More