With nearly 95% of shoppers reading online reviews before making a purchase, reviews have transformed the way consumers make purchase decisions. But reviews are more than just a way for shoppers to gather information. Reviews are a powerful form of consumer engagement.
(Spiel.medill.northwestern.edu)
The IMPACT of Reviews on your Wellness Business
Online reviews matter to your business. They have a significant and quantifiable impact on the purchasing decisions that your customers make, and yet so many companies don’t give it a second thought.
Displaying reviews can increase conversion rate by 270%
This is a powerful statistic made even more powerful when you consider that those very same reviews can create value for higher-priced products. Again, businesses fail to focus on gathering, curating, and sharing these critical star ratings.
Too Good To Be True
So, let’s get the negative information out of the way first. Research shows that reviews give consumers a strong reason to trust brands, and yet, too many reviews posted have little effect on the decision to buy. Too many five-stars may mean that things are not real, but not enough reviews (of any star-level) indicate a lack of quality.
An interesting aspect of reviews is the desire for negative ratings.
82% of shoppers specifically seek out negative reviews.
(Spiel.medill.northwestern.edu)
That would be me! I love them. Like many other consumers, I feel that too many positive reviews are not credible. Think about it: no one is perfect, right?
How To Put Ratings and Reviews to Work For Your Business
The power of reviews to influence sales is a fact. Yelp, Google, Trip Advisor, even the Better Business Bureau hold the power of reviews to impact sales. The problem is that businesses do not understand reviews, nor do they create any strategy for collecting, displaying, and monitoring them online or on their websites.
Here Are Some Tips
- Focus on the first five reviews of any product since they have the most significant impact.
- Embrace (and celebrate) negative reviews for the insights but make sure you respond to them, or this tip will back-fire.
- Ask people for reviews. Just ask!
- Curate the reviews and testimonials you have into a content strategy.
- Learn more about the power of reviews.
Ratings, Reviews and Referrals Workshop
Join the CBD Training Academy for another powerful marketing workshop and see how you can influence sales. Available On-Demand Now.
Agenda:
Review the Economic Benefits of Reviews
Why Do You Get Negative Reviews?
How and Where Can You Get More Reviews?
How To Ask For Reviews (including samples & templates)
Critical Take-aways To Increase Revenues
