Notoriety has become vital in the present web-based world. While clients can’t see the specific items they’re purchasing on the web, they are tracking down ways of confiding in brands more.
Here are a few measurements about the standing that show why you really want to think about working on yours today.
Key Reputation Management Stats
- 75% of customers say they will trust a brand more if there are positive reviews of the company online.
- 60% of customers will not buy from a brand if there are negative reviews of the company online.
- 72% of US consumers wrote a review in 2020. This is 6% higher than in 2019.
- 63% of customers wrote a positive review in 2020.
- 32% of customers wrote a negative review in 2020.
- 73% of customers will only read the reviews that have been published in the past month.
- 50% of consumers will only read reviews if they’ve been published in the past 14 days.
- One in three business owners believes that their business has been negatively affected by bad reviews that can be found online.
- 49% of executives believe that their current CEO’s reputation is directly related to their brand’s reputation.
- 54% of customers think brands need to engage more with customers about their online reputation.
- 61% of customers will have a more positive experience if the mobile experience is better.
- Only 73% of customers have been asked to write a review in 2020.
- Responding to a review within the healthcare industry can double patient satisfaction.
- 62% of customers have a different experience from the one they experienced in person.
- 43% of brands believe that only customers who can verify their purchase should be able to publish a review of a brand/product/service.
Trust in Online Reviews Statistics
- 85% of customers trust online reviews as much as personal recommendations from friends.
- 73% of consumers believe that reviews that are older than three months are not trustworthy enough.
- The average consumer will only trust the reviews on a brand if there are more than 40.
- An average star rating of between 4.2 and 4.5 is the ideal point for success with reviews.
- A perfect five-star rating is considered less trustworthy.
- It takes 40 positive reviews to undo the damage of one single negative review.
- 45% of customers will happily post a positive review if the brand has responded positively to a negative review the customer has previously posted.
- 65% of consumers do not trust the reviews that are published on eCommerce websites.
- 34% of customers say that their poor reviews of products are not published by brands.
Reasons for Online Reviews Statistics
- Customers will read an average of 7 reviews before making a purchasing decision.
- 87% of customers will read the reviews of businesses online before contacting them.
- 53% of consumers expect brands to respond to their reviews, which is easier online.
- Advertising is not trusted by 83% of consumers who now prefer reviews.
- 70% of consumers will leave a review if they’re asked by the brand.
- 87% of consumers visit an online comparison shop every single day.
- On average, a consumer will mention brands in their social media posts 90 times a week.
Reputation Management Statistics About Hiring and Retention
- 69% of potential recruits will reject a potential job offer if the employer doesn’t have a good reputation online.
- Even if potential recruits are offered a 100% pay raise, 30% of them will still reject a job offer if the company has a bad reputation online.
- 94% of job seekers will apply for a role with a company if they have a good reputation online.
- Companies with a positive reputation will get twice as many candidates to apply for an open position as a company with a bad reputation.
- A bad review online will cost the average brand 10% in wages to hire and retain employees.
- Only 50% of brands monitor their employer reputation online.
- 93% of recruiters are now using LinkedIn to find talent online for their open positions.
- 73% of recruiters have used social media to successfully place a candidate using social media.
- 57% of employers won’t interview a candidate if they can’t find them on social media.
- 54% of brands will not hire a candidate based on their social media profile.
- 12% of employees state it is in their employment contract to market themselves on social media to help build brand trust.
- Large businesses are now hiring full-time reputation managers.
- 24% of employees say their employers have contractual agreements about what they can publish on their personal social media profiles.
- Just under a third of employees (31%) have stated that they will search for information about their co-workers, professionals, colleagues, or competitors.
- Only 6% of people have an automatic notification for when they have been searched for online.
Impact of Positive and Negative Reviews Statistics
- Customers will tell more people (15 vs 11) about a bad experience compared to a good experience.
- Products that have numerous 1 or 2-star reviews will not convert 86% of potential customers.
- Only 48% of customers will consider using a business if they have an average rating of 4 out of 5 or below.
- Only 19% of customers will consider using a business if they have an average rating of 3 out of 5 or below.
- Only 13% of consumers will consider buying from a business if they have a one or two-star rating.
- 67% of customers have stated they would not use a business if a review stated they weren’t Covid-19 secure.
- The loss from a bad reputation in the UK was $663,531 in 2019 for 5% of businesses.
- One in seven UK companies lost $65,350 in revenues because of negative reputations online.
- 85% of consumers will actively search for a negative review of a business before they make a purchase.
- 50 positive reviews online can improve click-through rates by 266%.
Top Review Sites Statistics
- An additional star on Yelp can help increase your revenues by approximately 9%.
- 63% of users reference Google reviews when they’re choosing a brand to buy from.
- The most popular review platform by customers is Better Business Bureau (BBB)
- A free Yelp account can add $8,000 a year in revenue for small businesses.
- 59% of consumers will look at 2-3 reviews sites before they consider buying from a brand.
- 98% of Yelp users will buy from a business they’ve found on the review site.
- The most reviewed product on Amazon has nearly 250,000 reviews.
- 97% of travel industry businesses believe that their reputation on Trip advisor is important for their success.
- 158.03 million consumers use Google My Business every month, making it one of the most used review sites in the world.
- 19% of the global reviews are now on Facebook Business pages.
- 8.4% of the world’s reviews are on TripAdvisor.
- Hotels that respond to reviews on TripAdvisor get 12% more reviews and improve their average star rating by 0.12.
Fake Reviews Statistics
- 46% of consumers believe that in 2019 they read several fake reviews written by the brands themselves.
- It is estimated that between 10 and 30% of all reviews are fake.
- Unsubstantiated online reviews or trolls maliciously targeting a business have negatively impacted more than half (51%) of businesses.
- 88% of businesses and consumers believe it is almost impossible to remove inaccurate information about them online.
- 82% of customers think that they’ve read a fake review within the past 12 months.
- Those who are 18-34 are less trusting of online reviews with 92% believing that they’ve seen a fake review within the past 12 months.
- Those who are over 54 are the most trusting of online reviews, with only 59% believing they’ve seen a fake review in the past 12 months.
- More than half of consumers (54%) would not purchase if they thought the product had any fake reviews.
- Nearly all customers (95%) think there is some form of censorship or there are fake reviews when they don’t see any bad reviews for a product/brand.
- 30% of consumers believe reviews are fake if there is not a single positive review.
- 72% of customers believe that fake reviews have become the norm within eCommerce.
- Supplements have the largest share of fake reviews on Amazon with an estimated 64% of fake reviews.
- Beauty products also have a high number of fake reviews on Amazon with more than 63% considered to be fake.
Reputation Management and SEO Statistics
- 97% of customers search for a brand’s reputation on Google.
- 12% of customers daily searches for companies to find out if a company can be trusted.
- Only 10% of Google users will look past the first page of Google.
- 64% of consumers trust the review results on Google when they’re looking to see whether they can trust a brand or not.
- 20% of businesses are unhappy with how Google portrays their business on the first page.
- 80% of searches that include the term, ‘near me’ for a brand/service are done on mobile devices.
- Reviews are the second most important factor in local searches on Google.
- Google has confirmed that positive reviews will influence your rank on search results by 7%.
- If a business improves its online rating from 3 stars to 5 stars, then it can expect to see 25% more traffic.
- 62% of customers do a search engine check to see what information is online about them.
- 92% of search traffic is controlled by Google.
- 90% of a consumer’s impression is based on the first page results in a search.
- Facebook Business reviews appear on the first page of Google for the majority of brands.
- More than one billion name searches are completed every single day.
Reputation Management Revenue Statistics
- Increasing a rating by one star in the hospitality industry has helped hotels increase prices by 11% while maintaining the same occupancy rate.
- A 1% increase in online reputation rates can increase revenues by 1.42%.
- A 1-star improvement in a restaurant’s reputation online improves revenues by 9%.
- 86% of consumers will pay more to buy from a brand that has a positive reputation.
- 41% of brands who have a negative reputation online report a significant loss in their revenue.
- A single negative review can potentially lose a business 22% of its revenue.
- Four negative reviews can lose a brand 70% of its revenue.
- Putting a review on a product page or landing page can increase conversion by 270%.
- Consumers are more than four times more likely to complete a transaction when there are five or more reviews for the product.
- 50% of sales are lost because customers can’t find any information about the brand online.
- 54% of executives believe that reducing the number of negative reviews would improve revenue growth for their business.
- 41% of brands believe that if they could reduce undesirable search results, they would be able to convert more visitors into customers.
- The loss in revenue within the US due to bad reviews is estimated to be $537 billion in 2020.
- Customers who write reviews for eCommerce brands influence about $400 billion in sales within the US.
Reputation Management Valuation Statistics
- About 25% of the company’s value is made from its online reputation according to managers.
- Consumers believe that 50% of a brand’s true market value is made up of its online reputation.
- Online reputation solutions can cost companies between $5,000 and $20,000.
- The time to manage online reviews can be anywhere between 50 to 200 hours every quarter.
- The online reputation management market in the US is set to be worth $410 million by 2025.
- The US, Europe, Africa, and the Middle East will see the biggest rise in the reputation management market by 2025.
- 76% of brands believe they have a better online reputation than they do.
- 87% of executives state that reputation risk is one of the biggest risks to the brand.
- Customers are the biggest stakeholders in online reputation management.
- More than 80% of reputation damage can be caused by the difference between the marketing buzz created by the brand and the reality.
Online reputation is one of the most important parts of a business’s success. Without proper reputation management, which most businesses don’t currently do, brands can be missing out on a significant amount of potential revenue.
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