Affiliate Disclaimer: Beforeyoubuys is supported by YOU – our reader. We may receive a commission if you buy something after clicking on one of our links (it comes at no extra cost for you but it helps us to create more useful content).

In the past, people would mostly rely on personal recommendations when it came to choosing a product or service. However, with the rise of the internet, this has changed. Now, customers can find out about a brand or company without even talking to anyone else. As a result, reputation has become more important than ever.

In today’s online world, customers are looking for ways to trust brands. They want to know that they can rely on a company to deliver what they promise. To build trust with potential customers, businesses need to focus on their reputation.

This means ensuring that their online presence is positive and that their customer service is top-notch. By developing a good reputation, businesses can win the trust of their customers and create a loyal customer base.

Key Reputation Management Stats

Over three-quarters of consumers say they are more likely to buy from an organization if they have read favorable feedback about it online.
60 percent of customers will not make a purchase from a brand if the company has received negative online reviews.
In 2020, 72% of American consumers will have written a review.
There has been an increase of 6% since 2019.
 In 2020, 63% of customers were satisfied with the service they received.
In 2020, 32 percent of customers will leave a negative review.
It’s estimated that 73% of customers prefer to read reviews published within the last month.
Consumers are only 50% as likely to read reviews that were published within the last 14 days.
Many business owners believe that bad online reviews have had an impact on their business.
49 percent of executives believe that the reputation of their current CEO is directly linked to the reputation of their brand.
More than half of customers believe that brands should take a more active role in addressing their online reputations.
A better mobile experience is expected to improve customer satisfaction by 61%.
More than seventy-three percent of 2020 customers have been asked to leave a review. As a healthcare provider, it is critical to respond to a patient review.
A whopping 62% of customers report having an experience that is significantly different from what they had in person.
Customers who can authenticate their purchase should be able to write a review of a brand, product, or service, according to 43% of brands.

Trust in Online Reviews Statistics

Online reviews are as trusted by 85% of customers as word-of-mouth referrals.
Most people think reviews that are more than three months old are untrustworthy.
Only when there are more than 40 reviews can the average customer feel confident in a brand.
In order to get the best reviews, you should have an average star rating of between 4.2 and 4.5.
Perceived trustworthiness diminishes with each additional star.
A single negative review can be undone by 40 positive reviews.
More than half of customers will happily write positive reviews for brands who respond positively to negative reviews they’ve posted.
E-commerce websites’ reviews are viewed as untrustworthy by more than half of consumers.
34 percent of customers say that brands don’t publish bad reviews of their products.

Reasons for Online Reviews Statistics

Customers will read an average of seven reviews before making a purchase decision, according to research.
In order to determine whether or not to do business with a company, 87% of customers will check online reviews.
Customers expect brands to respond to their reviews, which is easier to do online, 53% of the time.
83 percent of consumers no longer trust advertising, preferring instead to read online reviews.
Consumers will leave a review in 70% of cases where the brand asks them to.
Every single day, 87% of consumers conduct online comparison shopping.
The average social media user mentions a brand 90 times per week.

Reputation Management Statistics About Hiring and Retention.

The reputation of a potential employer online is critical to 69 percent of job seekers.
Even if a company offers a pay raise of 100%, 30% of job candidates will still turn down an offer if the company has a bad online reputation.
Most job seekers will apply to a company with a positive online reputation 94% of the time.
A company with a good reputation will attract twice as many job applicants as a company with a bad reputation, according to this study.
A bad online review can cost a company 10% of its wages to hire and keep employees.
Only half of companies are concerned about their online reputation as an employer.
93 percent of recruiters are now using LinkedIn to find candidates for open positions on the internet.
About three-quarters of recruiters have found a job for a client by making use of social media.
57% of employers won’t even interview a candidate if they can’t find them on social media, according to this study.
Brands aren’t going to hire a candidate because of their social media profile.
As a result, 12 percent of employees say it is a requirement of their employment contract that they promote their brand on social media.
Reputation managers are now being hired on a full-time basis by large corporations.
24 percent of employees claim that their employers have contracts dictating what they can and cannot post on their personal social media accounts.
Only 31% of employees have stated that they plan to look up information about their coworkers, colleagues, or even their rivals.
Only 6% of people have the option of receiving an alert when they are searched on the Internet.

Impact of Positive and Negative Reviews Statistics

The number of people who will hear about a bad experience outweighs the number who will hear about a good one by a factor of 15 to 11.
86 percent of potential customers will not buy a product with a lot of 1 or 2-star reviews.
If a business has an average rating of 4 out of 5 or lower, only 48 percent will even consider using it.
Having a rating of 3 out of 5 or lower will turn away only 19% of potential customers.
Only 13% of consumers are willing to buy from a business with a rating of one or two stars.
If a business isn’t Covid-19 secure, 67% of customers say they won’t do business with them.
In 2019, 5% of businesses in the UK suffered a loss of $663,531 due to a bad reputation.
Negative online reputations cost one in seven UK businesses $65,350 in revenue.
Before making a purchase, 85% of customers will look for reviews that are critical of the business.
A 266% increase in click-through rates can be achieved with just 50 positive online reviews.

Top Review Sites Statistics

Adding one more Yelp star can boost your revenue by as much as 9%.
Sixty-three percent of customers look up customer reviews on Google before making a purchase.
The Better Business Bureau is the most widely used platform for customer reviews (BBB) Small businesses can earn up to $8,000 more per year by having a Yelp account, which is completely free.
In order to make a purchase, 59 percent of consumers will check out at least two review sites.
If a business appears on Yelp, 98% of its users will buy from it.
Nearly 250,000 people have taken the time to leave reviews for Amazon’s top product.
TripAdvisor’s reputation is critical to the success of 97% of travel industry businesses.
Every month, 158.03 million people use Google My Business, making it one of the most popular review sites on the planet.
Facebook Business pages now account for 19 percent of all global reviews.
TripAdvisor has 8.4 percent of the world’s reviews.
The average star rating of hotels that respond to TripAdvisor reviews rises by 0.12 points.

Fake Reviews Statistics

Nearly half of consumers (46 percent) believe that in the year 2019, they read several fake reviews written by the brands themselves. 
Between 10% and 30% of all reviews are fake, according to estimates.
Nearly two-thirds (66 percent) of businesses have suffered because of malicious online reviews or trolls.
Nearly two-thirds (66 percent) of businesses have suffered because of malicious online reviews or trolls. 
More than eight out of ten businesses and consumers believe that it is nearly impossible to remove online information that is inaccurate about their brand.
According to a recent poll, 82 percent of customers believe they’ve read a fake review in the last year.
People between the ages of 18 and 34 are the least likely to believe in online reviews, with 92% saying they’ve seen a fake review in the last year.
People between the ages of 18 and 34 are the least likely to believe in online reviews, with 92% saying they’ve seen a fake review in the last year. 
Only 59% of people over 54 believe they’ve seen a fake online review in the last year, making them the most trusting group when it comes to online reviews. 
More than half of consumers (54 percent) would avoid purchasing a product if they suspected it of having fake reviews.
The vast majority of customers (95 percent) believe there is some form of censorship or fake reviews when there are no negative reviews for a product/brand.
If there isn’t a single positive review, 30% of customers assume the reviews are fake.
Almost three-quarters of online shoppers believe that fake reviews are now the norm.
Fake reviews on Amazon are most prevalent for supplements, accounting for approximately 64% of total reviews.
More than 63% of Amazon reviews for beauty products are fake, according to the site.

Reputation Management and SEO Statistics

97% of customers use Google to check out a company’s reputation.
In order to determine whether a company can be trusted, 13% of customers conduct daily searches for businesses.
10% of Google users will look past the first page of results.
64% of consumers rely on Google reviews to determine whether or not they can put their trust in a brand.
20% of businesses are dissatisfied with how their business appears on the first page of Google.
Nearly 80 percent of all searches for a brand or service that include the phrase “near me” are conducted on mobile devices.
Local Google searches are heavily influenced by user reviews, which come in at number two.
Positive reviews have been confirmed by Google to have a 7 percent impact on your search engine rankings.
From 3 to 5 stars on Google, a business can expect to see a 25 percent increase in traffic.
62% of customers use a search engine to see if there is any information about them that is available on the internet.
More than ninety-two percent of all web traffic is directed to Google’s search engine.
First page results are responsible for 90% of a consumer’s impression.
Facebook For the vast majority of brands, customer reviews can be found on the first page of Google.
Every day, more than one billion people conduct online searches for their names.

Reputation Management Revenue Statistics

For hotels, increasing their star rating by one star has allowed them to increase prices by 11% while maintaining the same occupancy rate.
A 1.42 percent increase in revenue can be achieved by increasing online reputation by one percent. 
An increase in a restaurant’s online reputation of one star results in an increase in revenue of 9 percent.
Customers are willing to pay more for a brand that has a good reputation, 86% of the time.
40% of brands with negative online reputations report significant revenue losses.
It is possible to lose up to 22% of a business’s revenue with just one bad review.
A brand’s revenue can be slashed by 70% after just four bad reviews.
 Including a customer review on a product or landing page can boost sales by as much as 270%.
When a product has five or more reviews, customers are four times more likely to buy it.
Because customers can’t find any information about the brand online, half of all sales are lost.
More than half of CEOs believe that reducing the number of bad reviews will boost their company’s revenue growth.
41 percent of brands believe they could increase sales by reducing the number of unwanted search results.
In 2020, bad reviews are expected to cost the United States $537 billion in revenue.
About $400 billion in sales in the United States are influenced by customer reviews for eCommerce brands.

Reputation Management Valuation Statistics

According to managers, the company’s online reputation accounts for about a quarter of its value.
Customers believe that a brand’s online reputation accounts for half of its true market value.
Between $5,000 and $20,000 can be spent on online reputation management services.
Managing online reviews can take anywhere from 50 to 200 hours a quarter, depending on the complexity of the issue.
With a projected value of $410 million by 2025, the online reputation management market in the United States is on track to grow significantly.
By 2025, the reputation management market will grow the most rapidly in the United States, Europe, Africa, and the Middle East.
In fact, 76 percent of brands believe they have a more positive online reputation than they actually do. 
According to 87 percent of executives, reputation risk is one of the greatest dangers to the brand. Customers are the most important stakeholders in the management of one’s internet reputation.
As much as 80% of reputation damage can be attributed to a mismatch between a brand’s marketing buzz and its actual performance.

Conclusion:

Online reputation is one of the most important parts of a business’s success. Without proper reputation management, which most businesses don’t currently do, brands can be missing out on a significant amount of potential revenue.

CHECK OUT THESE STATS ALSO

Leave a Reply

Your email address will not be published.