The era when people read posters and bills is disappearing. Many people now check out online reviews before buying. Building a positive online reputation in our digital age cannot be overstressed. Having bad product reviews and hoping to make good sales is more like planting oranges and expecting a harvest of apples. A company’s reputation accounts for 63% of its market value.
People may not have seen your physical product before, but what they read online about it is the deciding buying factor. 85% of consumers trust online reviews as much as personal recommendations. Businesses today have no choice but to build a great online reputation.
Do you know your business can be swept out of the way simply because of bad reviews? You will be shocked at how many companies have been reduced to nothing. Learn the statistics on how well businesses have fared and the numbers that have closed down due to bad reviews in today’s digital world. Let’s start.
Key Reputation Management Statistics Statistics
- Up to 75% of consumers have more trust in brands with positive online reviews.
- As many as 60% of customers will not consider buying a brand with negative online comments.
- As many as 63% of clients gave positive product reviews in 2020.
- Just 32% of consumers sent negative reviews by the close of 2020.
- 72% of consumers in the United States wrote reviews throughout 2020, 6% more than the record at the close of 2019.
- The habit of reading online reviews of the past month is done by 73% of consumers.
- Half the total number of customers are in the practice of reading reviews from 14 days ago.
- 1 out of every 3 moguls say that negative reviews have caused damage to their business.
- To be exact, just 49% of managers believe that the reputation of their CEO is linked to the brand’s standing.
- Up to 54% of consumers feel that brands should increase their online relations with their customers.
- A better experience for 61% of clients will likely happen when mobile usage improves.
- Posting reviews to 43% of brands should only be done by customers who have attested to their order.
- Trusting online reviews is the same as a good word from friends to 83% of clients.
- Any review of 73% of customers over three months old should not be trusted.
- The average customer out there feels that a review can only be valid when it is over 40 in number.
- A rating between 4.2 and 4.5 can be said to be a success regarding reviews.
- Any business with a 5-star rating on review raises an eyebrow to onlookers.
General Reputation Management Statistics
1. Up to 75% of Consumers have More Trust in Brands With Positive Online Reviews.
For 75% of brand consumers, buying a product is largely influenced by its positive reviews online.
2. As Many as 60% of Customers Will Not Consider Buying a Brand With Negative Online Comments.
For as many as 60% of consumers, any brand with a bad reputation online is a no-no.
3. A Company’s Market Value Depends Largely on the Reviews it Gets Online.
More than 63% of a business’s market value growth is owed to the reviews it receives. This shows that a company’s reviews are linked to its market value.
4. It Takes as Much as 40 Good Reviews to Erase Just One Negative Review of a Product.
Every brand tries to keep a good online presence, as it can take up to 40 great reviews to erase one negative online comment.
5. As Much as 99.9% of Consumers go Online to Read Reviews Before Any Purchase in 2021.
As high as 99.9% of consumers goes to show the importance of reviews to the modern buyer. Since a lot of shopping is happening online, it is only right that businesses put their best foot into the competition.
6. By the Close of 2018, Up to 96% of Consumers Were on the Lookout for Negative Reviews.
It’s quite funny how people would rather look for negative reviews of a brand than positive ones. Up to 96% of shoppers scouted for negative reviews of brands when shopping in 2018 alone. The reason behind this is to see the business weaknesses; they usually purchase if the negatives are few.
Online Review Trust Statistics
7. Trusting Online Reviews is the Same as a Good Word From Friends to 84% of Clients.
Online reviews carry so much weight for 84% of customers like that which comes from close friends.
8. Making Purchases for 95% of Consumers Involves Reading Through Reviews.
In this modern society, buying a brand takes a lot of time for 95% of clients. These people take their time to review reviews before deciding.
9. A business With Four Stars and Above Will Attract 57% of Willing Buyers.
The number of star reviews shows, to a large extent, how great a brand is in the market. Up to 57% of consumers feel businesses with less than four stars should not be given a second look. This shows that brands must work hard to create a good online reputation.
10. The Average Customer on the Street Will Trust a Brand With Over 40 Online Reviews to Deliver Quality.
An average customer believes any business with over 40 reviews is good enough to be trusted. This idea is based on the fact that brands need customer reviews to grow their market value.
11. A Rating of 4 to 4.5 Most Times Appeals to Persons Scouting Online for the Best Brands to Use.
Since 70% of clients use rating filters to search businesses, having a 4-star rating will stand out. Businesses with ratings between 4 to 4.5 stars are more likely to attract customers. This shows that those with lower ratings are likely to be bypassed.
12. Just 10% of Customers are Attracted to Brands With a 5-star Rating.
So many customers find it too unreal for a business to be rated five stars. They think no business can be perfect on all sides. These people will rather opt for brands with 4.2 to 4.5 stars.
13. Up to 34% of Clients Complain That Brands Do Not Post Their Unsatisfied Reviews Online.
The poor reviews of around 34% of brand consumers are kept in the dark from public view.
Purpose Behind Online Reviews
14. Consumers Usually go Through at Least Seven Reviews Before Purchasing.
Most consumers are in the habit of scaling through the reviews of a brand before deciding to buy. It takes an average of 7 reviews to convince a customer whether or not to buy a brand.
15. For 87% of Consumers, Online Reviews of a Product Decide Whether a Business Should be Called.
87% of consumers use the number of positive reviews to determine whether they should contact a business. Users’ online posts show how good a brand is to this segment of clients.
16. As Many as 53% of Customers Expect Brands to Answer Their Online Reviews Quickly.
Up to 53% of customers expect their online reviews to get a quick answer from the brand. This shows that many people post reviews to get in touch with the brand.
17. As High as 83% of Consumers Believe that Ads are not to be Trusted as Much as Posted Reviews.
What is displayed in adverts for 83% of clients cannot be trusted like that of brand reviews. This stems from the belief that reviews come from the experiences of brand users.
18. As Many as 70% of Customers Will Gladly Post a Brand Review if Asked.
A good number, as great as 70%, will rush over to post a review if a brand they use asks it of them. This shows that some of the reviews you see online are not self-driven but at the request of brands.
19. Paying an Online Visit to a Comparison Store Comes Naturally for 87% of Customers Worldwide.
An online comparison store is handy for 87% of clients searching for the best products daily.
20. The Average Consumer is Fond of Seeking Out Brands Weekly on Social Media.
As we all know, social media is a place for connecting, which has helped increase brand publicity.
Reputation Management in Hiring and Workers Retention
21. A Company’s Reputation Comes First Place for 69% of People Searching for a Job.
It is more like what is in this job for me. Companies are now tasked with getting the best hands for the job as the competition in the market rises. To do this, a firm must work tirelessly to build a great reputation. This is more like gaining the approval of the public to get the best hands that will push your company forward.
22. A Company With all the Juicy Welfare Packages can be Avoided by 30% of Job Applicants.
A firm with a bad reputation is seen by 30% of applicants as one that should be avoided at all costs. These 30% feel that a brand’s reputation surpasses its offer paycheck.
23. A Company’s Branding is a Hot Topic Among Companies Looking for Great Talents.
A company with a good reputation is likelier to get the best of talents than one with a bad reputation.
24. A Company With Negative Reviews Will Spend 10% More on Hiring Great Talents.
No wonder applicants love to line up at the doors of firms with positive reviews. The truth is not farfetched, as almost everyone likes to be associated with goodness. Companies with bad reputations must pay 10% more to convince experts to work with them.
One very effective tool for screening job applicants today is social media. It comes in handy for 70% of managers who are looking for not only talent but also character.
26. Digging Deep Into an Applicant’s Online Reputation Helps 85% of Companies Decide on Hiring.
Up to 85% of human resource managers in the United States surveyed online to learn about the reputation of job applicants. This is one strong reason to hire or reject an applicant.
A strong presence on social media coupled with a good reputation are great points to be hired for 57% of companies.
28. Up to 54% of Firms Do Not Care if a Candidate has an Active Social Media Account.
54% of brands do not consider an applicant’s lifestyle displayed on a social site when delivering jobs.
29. Around 50% of Companies Check Their Workers’ Online Activities.
Only 50% of employers monitor what happens in staff’s online lives. To these brands, monitoring workers online is key to the company’s reputation.
30. LinkedIn is a Great Place for 93% of Brands Who Need to Hire the Best Hands.
The best hands for as much as 93% of HRs can be easily taken on board from LinkedIn.
31. Using LinkedIn to Scot for Hires is the Best Option Over Others, Like the DIY Approach.
Using DIY can achieve a success rate of only 28% compared to the successes achieved by LinkedIn.
32. Up to 12% of Hires Promise to Use Their Social Media Handles to Promote Their Brand on Job Contract.
Brand promotion is a task with which 12% of workers set themselves through their social media handles.
33. Many Big Enterprises Set Themselves to Hire Permanent Reputation Managers.
To keep up with positive reviews, reputation managers are hired by big companies today.
Effect of Good and Bad Reviews
34. Customers are Likelier to Tell a Bad Brand Experience Than When it is Positive.
Up to 15 customers will announce how bad a brand is, while just 11 will tell others of a good experience.
35. Products With 1—to 2-star Ratings in the Review are Unlikely to Attract Purchases From 86% of Viewers.
A product with a review rating of 1 or 2 will most often discourage 86% of likely buyers. This shows that poor-rated reviews scare away many likely buyers.
36. Up to 19% of Consumers Will Take the Risk of Buying a Brand with a Rating of 3 or less.
Any business rated three or below will likely attract 19% of clients to its stand. This is likely the case, as people are prone to buy highly rated brands online.
37. Just 13% of Clients Will Review a Business’s Product Offerings Rated 1 or 2 and Still Buy.
Only 13% of customers buy from brands with low ratings of between 1 and 2.
38. A Product for 67% of People that is not Covid 19 Insured Should Not be Taken a Second Look At.
The protection from Covid-19 is certainly the first thing 67% of consumers look at when buying a product.
39. The Problem of Negative Repute Caused Businesses in the United Kingdom to Lose $663,531 at the Close of 2019.
A bad reputation in the UK was a problem for many businesses in 2019, causing losses of up to $633,531.
40. At Some Point, One Out of Every Seven Firms in the United Kingdom has Lost Revenue of $65,350.
The wave of bad reputation has scarred one in seven companies in the United Kingdom. This has caused businesses affected to have a revenue fall of $65,350.
41. Getting 50 Good Reviews Can Increase the Number of Clicks to an Amazing Height.
Good reviews help a business score points that adverts may never achieve. Getting up to 50 reviews can significantly improve your business click rates.
Reviews of Top Sites
42. A Rise of 1 Star on Yelp Will Increase 5 to 9 % in Business Revenue.
When a business has as small as a star rise in Yelp, the revenue will shoot up by 5 to 9%.
43. Google is the Trusted Search Engine to Get Product Reviews for 63% of Consumers.
Getting reviews from Google is the only trusted way for 63% of consumers who are set to buy products.
44. One Very Popular Review Used by Customers to Get Usable Reviews is the Better Business Bureau.
Better Business Bureau is useful when it comes to getting the reviews of companies all across the globe.
45. A Yelp-free Business Account Can Add up to $8,000 in Revenue in Just One Year.
Businesses can get up to $8,000 as revenue from using the free Yelp account in a year.
46. 59% of Customers Decide Which Product to Buy After Reading Reviews on Two to Three Sites.
Up to 59% of customers will first go through the reviews of a product on 2 or 3 sites before making a purchase.
47. Up to 57% of Yelp Users Contact Businesses Within One Day of Seeing Reviews.
57% of Yelp visitors contact companies with great reviews within a day.
48. As Great as 98% of Users Buy From Businesses They Come to Know Through Yelp.
Yelp has helped in no small way in connecting businesses to willing consumers. The fun part is that everyone is left satisfied on Yelp.
49. Up to 97% of Businesses in the Travel Industry Feel that Trip Advisor has a Great Part to Play in Their Success Story.
97% of travel business owners need a good reputation on Trip Advisor. This stems from the belief that Trip Advisor will help them to scale above the fierce market competition.
50. Google My Business is Used by Up to 158.03 Million Clients Monthly.
Google My Business is one of the most popular review sites, with 158.03 million users.
51. Facebook Business is Now a One-stop Place for 19% of Reviews Across the Globe.
Up to 19% of reviews can be seen on the Facebook Business page anywhere in the world.
52. TripAdvisor has as large as 8.4% of the Total Business Reviews Today.
You can get 8.4% of all business reviews by checking out TripAdvisor.
False Reviews Statistics
53. It Came to the Notice of 46% of Consumers at the End of 2019 that Brands Posted Some Reviews.
It came to the shock of 46% of consumers at the close of 2019 that brands could go the length of writing their reviews.
54. It is True That 10 to 30% of All Online Reviews Posted are Nothing But Lies.
Fake online reviews have been flying all over the web to the tune of 10 to 30%.
55. Up to 88% of Companies Feel it is Impossible to Erase False Information Online.
For 88% of companies, eradicating false information posted online is impossible. This is because posted content can be seen several times over.
56. As Many as 82% of Consumers Believe They Have Encountered Fake Reviews in the Past 12 Months.
There was a report by 82% of consumers of fake reviews for 12 months in a row. This is a source of worry as reviews ought to show the true opinion of brands.
57. Persons Between 18 and 34 Years of Age Do Not Have Much Trust in Reviews.
Young people do not trust online reviews between 18 and 34 years old. Up to 92% have come across false reviews at some point in the last couple of months.
58. People Over 54 Years Old Trust Online Reviews Over Others.
The older generation above 54 is the most trusting regarding online ratings, with just 59% doubters.
59. Over 54% of Consumers will not Withdraw Money From Their Accounts if They Suspect Brand Reviews to be Fake.
Fake reviews are frowned upon by over 54% of consumers to the extent of not buying an item from such brands.
As much as 95% of customers feel that any product without a single negative review online is fake. These clients will immediately scroll to other brands with at least one or two negative reviews.
Any online review that has no single positive remark is taken to be fake by 30% of customers.
62. Up to 72% of Clients Believe the E-commerce World is Flooded With Fake Reviews.
Fake reviews are the order of the day to 72% of customers who go online to search out brands.
63. Up to 64% of Amazon Supplement Reviews are Fake.
Supplements reviews on Amazon are 64% lies displayed to the customers. It takes up the largest chunk of fake reviews consumers have on the site. Electronics is next, with 61% of fake reviews at the close of 2018.
SEO and Reputation Management Statistics
64. Google is the Favorite Search Engine for 97% of Consumers in Need of Good Brands.
For 97% of consumers, the answer to the budding question of a brand with a good reputation lies within Google.
65. The Search Online for How Local Businesses are Faring is a Norm for 97% of Customers.
The web answers whether local businesses are doing well or not for 97% of clients. Online search for local business reviews to another 12% is an act that must be done daily.
66. As Huge as 64% of Customers Trust Google Review Results on Brands.
To 64% of consumers, Google is the first stop for getting the right reviews on any brand. These consumers trust reviews posted on Google so much that they instantly purchase products.
67. Just 20% of Brands do not Like How Their First Page is Presented on Google.
Up to 20% of firms feel that Google is unfair on how their business first page is presented. This is because how a brand’s first page looks decides customers’ interest.
68. Mobile Devices are Used for 80% of Searches on Nearby Businesses and Services.
Most people (80%) use their mobile phones to steer their way in finding services and brands close to them.
69. Reviews on Google are Second When it Comes to Local Searches.
Reviews come second place amongst all searches that are carried out every single day on Google.
70. Any Business Able to Hike up its Rating by Two More Stars Will Likely Get a 25% Traffic Increase.
Do not take too lightly the value that online ratings bring to a business. A brand that succeeds in moving two steps forward in ratings will get a 25% increase in traffic.
71. Up to 62% of Clients go Online to Check What is Written About Them.
62% of customers use a search engine to determine what people think about them. This is a way of clearing their thoughts and knowing what others think about them.
72. In These Years to its Credit, Google has a Search Traffic of up to 92%.
The belief that Google has the right information has increased 92% of search traffic.
73. 90% of Customers Form their Opinion of a Search Based on What They See on the First Result Page.
As many as 90% of customers do not go beyond the answer on the first page when researching a brand or service.
74. Most Brands Have Their Facebook Reviews Posted on Their Google First Page.
When you search for most brands on Google, Facebook reviews appear on the first page.
75. Curious Customers Every Single Day on Google Makes Over a Billion Searches.
Google can attract over a billion-word searches every single day of the year.
Reputation Management Appraisal Statistics
76. Business Managers Believe that Around 25% of a Company’s Outlook Momes From its Online Status.
A company’s value can be 25% traced to what people say about it online. This is another reason why businesses work on improving their services.
77. Up to 50% of Customers Worldwide Feel that How a Brand Performs Online can Boost its Market Value.
Customer reviews have a lot to play regarding a brand’s market value. This belief is held on to by 50% of customers all around the globe.
78. A Company can Spend as Much as $5,000 to $20,000 on Getting Out of an Ugly Online Issue.
No one likes to be on a fix regarding a bad reputation online. A company can likely spend between $5,000 and $20,000 to get back on its customers’ good books.
79. It Takes up to 50 and, At Most, 200 Hours to Manage Online Reviews.
Managing online reviews is no fun; it can take as much as 200 hours each quarter.
80. The Online Reputation Market is Likely to Hit $410 Million at the End of 2025.
It will likely grow with the speed of light to hit $410 million at the close of 2025.
81. The Reputation Online Market at the Close of 2025 is Expected to Reach Greater Heights in the Middle East, Europe, and Africa.
Countries in the Middle East, Europe, the United States, and Africa should expect the online reputation market to rise.
82. Consumers have the Largest Chunk of Stakes in Online Reputation Management.
It should not come as a surprise to you that consumers are the greatest stakeholders. This is because the fallout from or increase in brand services affects consumers.
Conclusion
The success or failure of any business lies, to a large extent, in its online reviews. We live in a digital age where almost anything can be found online. Consumers do not want to go through the stress of asking what others think of a brand.
They can easily go to a search engine like Google to check; that’s where the answer lies nowadays. What’s more, these reviews found online help to boost the reputation of a company. The boost in reputation will, in turn, increase a brand’s revenue. This becomes more like a win-win situation for the brands and customers alike. Positive online reviews bring in more customers, great talents, revenue, and market value to brands. So, the facts above show you how important business reputation is and give you insights on building a good one.
