92% of consumers read online reviews and testimonials when considering a purchase. 88% of consumers trust online reviews as much as personal recommendations. 72% of them say positive reviews and testimonials make them trust a business more.
All of those stats are net positive for online businesses in terms of earning a customer’s cash. But product reviews aren’t beneficial only for conversion. They can also drive traffic by increasing SEO and up-sell and cross-sell additional products to both existing and potential customer cohorts.
Here’s what we know in those arenas:
- Increasing review volume leads to higher conversion rates – even at high volume levels: 50 or more reviews per product can mean a 4.6% increase in conversion rates.
- Fresh, product-specific review content drives search traffic and keyword rankings, specifically when a business earns 10 or more reviews –– resulting in 15-20% increase in search traffic.
- 3- and 4-star reviews contain 2x as many product suggestions as others –– informing brands of products that work, and which do not.
Bazaarvoice’s Conversion Index Volume 8 explains how an increasing volume of reviews affects first conversions, then SEO (and organic traffic), followed by product and business insights gathered from crowdsourcing.
Driving review volume is clearly important. After all, we live in the post-Amazon age. But the most striking data isn’t about traffic, product insights or even bottom of the funnel conversion. It’s about interaction, and how social proof (i.e. customer reviews) affect your conversion rates across the board –– in all industries and on all channels.
When a consumer interacts with your review, three things happen. They:
- Are 58% more likely to convert
- Generate 62% more revenue per visit
- Buy 3% more per order (AOV)
Those numbers in hand, what if you could pre-plant positive reviews across the web to drive not only increased conversions, but increased AOV and return-on-ad-spend (ROAS)?
We already know Google and Amazon heavily merit positive customer reviews. They increase your search ranking on both platforms, and both companies strictly control the process in favor of the customer.
We also know that agencies like the Better Business Bureau affect consumer trust, with the BBB’s security seal coming in 3rd on the Baymard’s survey of consumer-rated trust in checkout seals.
And, of course, take your own personal use case. Do you buy items with no reviews? Do you buy items with low-star reviews? Do you care?
I’d venture to guess those answers are, respectively: not often, rarely and yeah –– I do care.
So then, the next logical step is to begin using the product reviews you are generating on your site more broadly in your advertising across the web. This concept is not new. Best Buy began doing it in 2008. Amazon takes it to a whole new level with their brick-and-mortar bookstores, using floorspace as advertising space for online customer reviews.
Everything is data drive and agile. Books are sold alongside customer reviews within the displays. pic.twitter.com/mW6aBdvgGn
— Paul Shapiro (@fighto) April 2, 2017
Here are how other brands are Go to the full article.