Today, more customers than ever read online reviews before making a purchase, and I can't deny that I'm among them. That's why I gathered essential online review statistics to show the power of online reviews.
Online reviews are an integral part of the digital marketplace, and consumers continue to flock to the digital marketplace more and more every year -- which is great news for enterprising business owners and marketers everywhere.
Here's a chart from Statista that confirms this claim:
2.05 billion digital buyers in 2020 are no joke!
When these 2.05 billion buyers want extra confidence before making a purchasing decision, where do you think they'll turn for advice? That's right, you guessed it: online reviews!
With that said, here are 35 online review statistics to know for 2020.
Let's jump to it!
You know what they say about progress - however small, it's still progress. This stat only means that a little improvement in your online rating could mean more business.
Being responsive to online reviews has become critical to your business. You should already know that trust is a hot commodity in business. Without it, your business is dead in the water.
TripAdvisor is the largest travel platform today, and this online review statistic is a big deal for travel agencies, hotels, and travelers. Make sure to have an account with TripAdvisor if you are planning to be part of the travel industry next year.
Well, the healthcare industry needs to step up their game next year if they care about increasing their customer base through online reviews. Remember that online reviews are one of the SEO ranking factors, so, without strong reviews, it's not going to happen.
Wow! This stat only proves one thing - reviews on Twitter means more sales. If you fell short on sales this year, rethink your Twitter strategy in 2020.
This number is not surprising at all! It only makes sense to read online reviews before buying something online. It all boils down to the word TRUST. Without online reviews, buyers will not trust an online store at all.
In 2020, use online reviews to drive traffic to your website. It's not a secret that consumers trust the opinions of other consumers, so take advantage.
Are you part of the 88%? If you aren't, then you need to start monitoring your online presence. The majority of small business owners are already doing it. Start by asking customers to leave you feedback.
This stat shows how important mobile phones are in increasing sales. Customers can access online reviews anytime, anywhere. Remember that going into 2020.
Who doesn't want to know the pros and cons of a product before buying it? Consumers are smart nowadays. Entrepreneurs must push for quality reviews to gain more buyers.
Digital marketing providers need to work extra hard on getting more online reviews in 2020. Online reviews are a type of social proof that clients look for before doing business.
This one is a given. The reality is that customers trust any business with positive reviews over the ones who don't.
Looking at the chart, it's evident that your ORM (online review management) focus should shift to the age group who rely on online reviews before making a purchase.
Responding to reviews is necessary for growth in an age where customers spend a lot of time online. Make sure to respond to all reviews that you will get next year.
I wouldn't book a room with these hotels either. As a small business owner, I always encourage my clients to leave an online review. It's my proof that my business is legitimate. You should do the same in 2020.
If you own a local business, then Yelp is a great place to gain customers and build momentum. This rating distribution chart shows how fair, reasonable, and serious Yelp users are on the platform.
Star ratings show the level of trustworthiness a business has built with its consumer base online. No matter where you stand, it's important to work on your online reputation. A high star rating means you need to maintain your current status. A low star rating means you need to work on how you do business.
I am pretty sure you don't want to worry about closing business next year. Work on your online reputation now to avoid it. 13% is bad news if you ask me.
Recent customer reviews are the most relevant and will most accurately reflect the current state of your business. It's one of the most important reasons to encourage customers to leave reviews.
Social media offers a lot of opportunities for your business, one of which is the opportunity to manage your online reputation. Listen to your social media followers and respond to their feedback. It's one of the best ways to grow in 2020.
Now just because your current rating is below four stars doesn't mean it's the end of the world. You could still improve your products, services, and business process next year to improve your rating.
Follow up with your buyers through email or phone a week after they buy your product or service. It only makes sense to let them use your product first before asking for a review.
At 19%, local restaurants could use Yelp as a business awareness tool. This number proves that a directory listing like Yelp is vital for small business success. If you are planning to be in the restaurant business next year, be on Yelp!
I believe this is one of the biggest mistakes one could make in 2020. Traditional methods in handling business reputation are still useful, but using online tools to help monitor your reputation can make things much easier.
Well, it's hard to do business with someone who doesn't have great reviews. 86% of lost opportunities is a huge deal!
Product or service video reviews on Youtube and Facebook drive purchase decisions. In 2020, it would be a great idea to work with influencers who review products on Youtube.
In 2020, social media platforms like Facebook, Twitter, and Instagram will drive more customers to local businesses who have a presence there.
Having product reviews on your website is a simple way to encourage more mobile shoppers to purchase.
If you currently have six or below, then you have to have more next year. Remember that customers love to know more about a business, and a few reviews will not satisfy that.
There are a lot of social listening tools available at your disposal right now. Some examples include Trackur and Mention. Use these tools to manage your online reputation.
Here are some facts - consumers want others to experience the same great experience from a business. In the same way, consumers DON'T want others to go through the same bad experience.
Negative online reviews call for a stronger online reputation management strategy. What do you do when you get one? Handle it by responding to the review.
Well, that was a long list. I know! Use these online review statistics to guide your marketing strategy next year.
It's imperative to manage your online reputation to drive more sales to your business in 2020. If you need help in handling your online presence, don't hesitate to talk to us!
So what do you think about this article? Are you ready to handle online reviews next year?
Leave a comment below and let's discuss.
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Header image courtesy of Stockunlimited.
Tim Fitzpatrick is the President of Rialto Marketing. At Rialto Marketing, we help small businesses & entrepreneurs eliminate the confusion of marketing. As a marketing partner, we help clients put in place and manage a simple marketing plan so they can grow. Marketing your business shouldn't be a challenge. All you need is a plan.