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This year's Local Consumer Review Survey (2012) shows us a positive shift in consumer trust and appreciation of online reviews. The statistics are telling and reinforce the fact that consumers now hold more power than ever for influencing purchases. In fact, 52% of consumers surveyed said that positive online reviews make them more likely to use a local business.
More consumers are reading online reviews now than 15 months ago, with 27% regularly reading online reviews when looking for a local business to use. Only 15% of consumers said that they had NOT used the Internet to find a local business (vs. 21% in 2010).
Here are a few other interesting stats:
More than anything, these results tell us that business owners need to make sure they know their brand's social buzz. What are customers saying about the service they received? How do they feel about your product? Once you understand the general sentiment and theme of your business reviews, it's easier to set up a strategy to either encourage the chatter, or to address the most common complaints.
The other important takeaway is to make sure your business has a healthy online presence to begin with. The higher number of reviews (especially positive), the higher consumer confidence soars.
I am a huge fan of online reviews. In fact, I am among the 72% of consumers that trust online reviews as much as personal recommendations. For example, when charged with the responsibility of figuring out a restaurant for dinner, I head to a review site. When buying a new appliance I turn to consumer reviews to figure out the "best purchase." The list goes on and on, and with the wealth and popularity of online reviews, I'm not the only one.
This year's Local Consumer Review Survey (2012) shows us a positive shift in consumer trust and appreciation of online reviews. The statistics are telling and reinforce the fact that consumers now hold more power than ever for influencing purchases. In fact, 52% of consumers surveyed said that positive online reviews make them more likely to use a local business.
More consumers are reading online reviews now than 15 months ago, with 27% regularly reading online reviews when looking for a local business to use. Only 15% of consumers said that they had NOT used the Internet to find a local business (vs. 21% in 2010).
Here are a few other interesting stats:
- 65% of consumers read between 2-10 reviews (vs. 58% in 2010) before trusting a business.
- Having a high number of reviews is also important as the more reviews, the higher consumer confidence soars.
- 58% of consumers trust a business which has positive online reviews (vs. 55% in 2010).
- Just 28% of consumers cite location &/or price as main decision making factor (vs. 28% in 2010).
More than anything, these results tell us that business owners need to make sure they know their brand's social buzz. What are customers saying about the service they received? How do they feel about your product? Once you understand the general sentiment and theme of your business reviews, it's easier to set up a strategy to either encourage the chatter, or to address the most common complaints.
The other important takeaway is to make sure your business has a healthy online presence to begin with. The higher number of reviews (especially positive), the higher consumer confidence soars.