How Online Reviews Can Make Or Break Any Business?

Nowadays, half of our works are done online. Getting answer to our queries to find out the solution to the problem, the internet has become the way for everything.

The Internet is also an important aspect of online marketing and advertisement for many businesses in current which makes it easier for people to search online for companies and businesses and the services they provide. And reviews are the only thing that helps them to take a decision while choosing a particular service.

So, according to online reputation management Sydney,creating such a reputation online is the most important aspect to take care of.

So, the answer to this topic is- Yes, online reviews can make or break any businesses. Below are the few reasons why online reviews are so important! They are:

It is found that more than 90% of people read online reviews before considering availing any kind of services/products.
88% people believe in online reviews more than their personal recommendation.
90% of the customers read less than ten reviews and make an opinion of their own depending on the reviews.
There is a 4.6% increase in conversion rates when there 50 or more reviews on the product.
There is an average 18% uplift in sales produce due to the reviews.
Around 133% higher conversion rate has been shown when customers view user-generated content.
Customer reviews are trusted nearly 12 times more than the descriptions produced by the manufacturers.
Consumers who read reviews on smartphones are likely to avail of the service than consumers on the desktop.
Reviews are consider to be important especially for local business because 10% of the Google SERP ranking is contribute by the online reviews.
Reliability (27%), Expertise (21%) and Professionalism(18%)- these are the three important aspects that a customer looks for.
Consumers prefer “good values” of the business rather than the expertise.
Higher the ratings, people prefer more on those service/products.
Customers always prefer the services whose ratings are above 3.4 out 5 or mostly 4 out of 5.
Service/product with the highest number of positive reviews makes people trust upon a local business more.
A one star leads to an increase on 5-9 percent of business’s revenue, but one negative review can cost you, 30 customers, on average
Consumers start to search your business more if the reviews are more and positive.
Negative reviews can hamper your business; it can bring down the business.
Customers contacts or rely on business only if they find out if they have a mobile-optimised site.
Consumers open a business’s site after reading the online reviews.
Consumers prefer to spend 31% more on business with excellent reviews.
There is an increase of 59% from 22% consumers after three negative reviews on the business.
4 or number of reviews on your product or on the business can take away around 70% of your customers.
Presence of negative reviews creates a hesitation within customers to avail your service.
A single negative review can cost you around 30 customers on average.
There is a chance of losing 70% of your potential customers if they find any negative review in Google search results.
According to the survey, it is identify that five most business getting affect by negative online reviews.
Restaurant mostly getting affect by the negative reviews followed by Hotel, Doctor’s Office, Hospital and Hair salon respectively.
If the reviews are authentic, then 27% of customers believe in the reviews.
20% of reviews on the yelp are fake whereas upto 30% of online reviews for certain products are consider to fake.

Read : What is Online Coupon Codes and How to Find it Online?

Now let us find out, the facts and impacts of online review on different business like:

#1 Travel

Only 33% of travelers post travel-related reviews.
It is identify that it takes 30 mins for leisure travelers to read reviews before booking.
Whereas an hour is taken by 10% of travelers to read reviews before booking.
But only 59% of customers utilize the reviews on their booking decisions and travelling destinations
And only 16% of people share their holiday experience online and leave reviews.
While planning their holidays, review websites are use by 42% of traveler.

#2 Restaurant

On a scale of 1-5, a restaurant with a rating improved by half a star considered to be likely to be full at peak dining times.
Based on the information on the review site, 34% of diners opt for a restaurant according to it.
Among 18-34 years old, 53% says that online review factors into their dining decisions.
But 47% of 18-34 years old are the frequent full-service customers.
According to a survey, 61% of consumers read online reviews about the restaurants like it are their business.
81% of females don’t visit a restaurant if there is a reported cleanliness issue.

#3 Health

For health-related issues, 84% of consumers trust online reviews much more than a personal recommendation.
And that 84 % of patients use online reviews to evaluate physicians.
35% of them choose a physician due to a good rating whereas 37% doesn’t know due to a bad rating.
As a first step, 77% of patients referred to online reviews for searching for a new and good doctor.

#4 Job

Before considering a job opportunity, around 76% of professionals inquire about a company online.
According to online company reviews. 83% of job seekers are likely to base their decision on where to apply.
If a company has a one-star rating, then 60% of job seekers won’t apply for it.
But a company with less than three-star rating is not prefer by almost 33%.

According to research, the business who keeps on updating and active on a regular basis are likely to get more reviews leading to an increase in customers. Those who are most active on Twitter and Facebook pages are most likely to get ratings from 3-4 stars.

Online reviews help us to decide where and what to eat, which place provides the best services, what to buy and sell, and where to buy and sell. Online reviews have become an integral part for the identification for both consumers as well as business owners. So to increase the potential of customers and your business revenues appoint companies who are providing online marketing in Sydneyfor better and positive growth of your business.