No matter what business you are in, there is no question that word of mouth is incredibly powerful. The question is whether your customers' testimonials are helping or hurting your business. In fact, their reviews could have a huge impact on your company's bottom line.
Let's take a look at the power of reviews in today's online selling world.
Positive Reviews Can Lift You Up
People have a huge amount of trust in what others say about a product — even if the reviewer is a complete stranger. These can be customer-submitted reviews or ratings, video testimonials, or written reviews that the company has collected from pleased customers. Here are some quick stats:
71% of people are more comfortable buying a product or service if they can see good reviews about it.
Over two-thirds of all people consult customer reviews before making a purchase.
Potential customers are 63% more likely to make a purchase if your site contains customer reviews.
Those reviews create a 74% increase in product conversion.
So having positive customer reviews builds trust in your products or services and helps you close more sales. But what about bad customer reviews?
Negative Reviews Aren't the End of the World (Unless You Don't Handle Them Correctly)
You would think that it's best to have only glowing positive reviews, but think twice before deleting or ignoring a bad review left by an unsatisfied customer. A quarter of all online reviews are negative or neutral, but responding to them in the right way can help bring customers back or even gain new ones. In fact, 95% of unhappy customers will return to your business if you can quickly resolve their issue.
Furthermore, many customers leave public complaints, and reliably solving their problems in an approachable, friendly, and professional way can show potential customers that you're a great business to work with. Show them that you care, and they will trust you more and be more likely to buy from you.