The bloggers at WebsiteBuilder.org put together a wonderful infographic showing how reviews can make or break your business. It all starts with stats and facts on the impact of reviews in today’s age. For example, we learn that 68% of millennials trust online reviews as opposed to 34% of them who trust television advertising. This is a huge difference, and something that separates younger people from older consumers.
The infographic also dives into the negative and positive impact of reviews. For instance a positive aspect of a review is that people are 3.9 times more likely to choose hotels with higher ratings than lower ratings. However, 22% of customers will stop buying from a company after reading just one negative review. As you can see, companies have trade-offs when it comes to placing review systems on their sites.
The impact of reviews differ by industry. For example, negative reviews are far more likely to hurt restaurants than they are hair salons.
One problem with online reviews is that many of them are fake. Some customers know this, while others have no idea. The infographic outlines studies that show about 20% of Yelp reviews are fake. Although actions are being taken to prevent the use and creation of fake reviews, it’s not exactly as easy as it seems.
Quite a few other elements are covered by the WebsiteBuilder infographic. They do a great job of covering some of the industries most affected by reviews. As an example, the travel industry is broken down into interesting stats and other review information.
After that you’ll find useful information under the following categories:
- Reviews in the job markets
- Best online review sites by industry
- Case study analysis of the most popular review sites
- Influence of social media on online reviews
- Which of these business types have you read online reviews for?
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