15 Facts About Online Reviews For Small Business Owners

Keeping up with the trends is what keeps your brand and your business afloat and valuable to your potential customer. Let’s face it, those that do, succeed and those that don’t – well you already know. Look at Madonna – the mega superstar for example. She has continued to reinvent herself, her brand, her music, and even her sound to adapt with the times and 40 strong years later, she still remains the highest-grossing solo touring artist of all time.

Phil Wohl said it best, “Reinvention is the purest form of hope.” The same applies to your business. Here are 15 facts that all small business owners must know about online reviews and your potential customer.

Did you know:

  1. Now in 2021, 93% of consumers read online reviews and 40% of those Consumers form an opinion by reading just one to three reviews.
    Do you know what your online business reputation looks like?
  2. A recent survey concluded that a business star rating is the number one factor used by consumers to judge a business.
    How is your business being judged?
  3. Trust is the main factor in making a purchase decision and 68% of Consumers surveyed say positive reviews make them trust a local business more.
    The quality of your product or service, combined with your customer service will establish and maintain your brand. Are potential customers even aware of your brand?
  4. 61% of Consumers are more likely to contact a local business if they have a site optimized for mobile.
    More than half of your customers are looking online. Is your website optimized for mobile searches?
  5. Organic is another keyword that is associated with online reviews. Consumers want to see that a business is “real”. 95% of consumers suspect censorship or faked reviews when they don’t see any low star ratings. The old adage, “too good to be true” applies.
    Does your online business reputation look too good to be true?
  6. 68% of Consumers trust reviews more when they see both good and bad scores.
    Are all of your reviews one-sided? This may affect your potential customer perception of your brand.
  7. The top 3 online platforms dedicated to reviews with the most global traffic are Yelp, TripAdvisor, and Foursquare.
    Is your business listed on these popular review platforms? If not, you may be losing out on valuable business.
  8. The number of reviews posted every minute by Yelp users is 26,380
    That is a whole lot of traffic on one platform. What are they saying about your business?
  9. If a business resolves its issue quickly and efficiently, 95% of unhappy customers return to your business.
    Are you even catching every negative review that is placed out there about your business in time? Some reviews run the risk of being undetected for weeks, months – causing damage to your business reputation.
  10. Reliability 27%
    Expertise 21%
    Professionalism 18%
    Remain the most important attributes to Consumers.
    How reliable is your business to your potential customers? Do you know where you stand among your competitors?
  11. 14% of consumers would consider using a business with a one or two-star rating.
    Let’s face it, no one wants to pay for a terrible product or experience. If your business has mainly one to two-star ratings, you definitely need to consider online reputation management software.
  12. 10 reviews are the magic number.
    A potential customer will read an average of 10 reviews before forming an opinion about your business. What reviews are customers seeing the most?
  13. 40% of Consumers will form an opinion after reading 3 reviews
    73% of Consumers will form an opinion after reading 6 reviews
    88% of Consumers will form an opinion after reading 10 reviews
    What do your 10 reviews about your company look like?
  14. 12% only read more than 10 reviews.
    Since only 12% of Consumers will read more than 10 reviews, your online business reputation should be monitored and maintained by the best online review management software system on the market.
  15. ReviewInc is the ONLY Online Reputation Management Software System on the market that can find and fix broken links so that nothing slips through the cracks.
    Are you willing to risk your online business reputation?

Contact Us at ReviewInc for a FREE Online Business Reputation Report so you could see where your business reputation stands among your competitors and how to increase your brand preference so potential customers chose your business first.