Many small businesses debate the pros and cons of customer reviews and whether they are good for business, whether they turn away prospective customers, or whether they bring new awareness and increased traffic and conversion to a business.
Offline businesses are increasingly finding ways to use online customer reviews because they are effective without seeming ‘salesy’. Even when featured or promoted by the company being reviewed, customer reviews do not lose their credibility. In a recent global Nielsen survey, 78% of the respondents said that customer reviews are the most credible form of advertising.
To test the impact of customer reviews on revenue, Marketing Experiments Journal measured the conversion rate from website visitor to customer with and without customer reviews. They found the conversion rate increased from 0.47% to 0.88%, an increase of 87%. Out of 14,241 website visitors, the sales for businesses with customer reviews increased from $334,664 to more than$ 626,000 simply because businesses had reviews.
A big trust builder for businesses, large and small, is easy access to business reviews. They act as… Continue reading