#Most people read multiple reviews before a purchase

A study by Spiegel Research Center found that most people read at least 10 reviews before forming an opinion about a business. This highlights the importance of having a large number of reviews.

#Positive reviews increase buying intent

A study by PowerReviews found that 63% of consumers are more likely to purchase from a site with user reviews.

#Online reviews have an impact on local SEO

According to a study by Moz, online reviews are one of the most important local SEO ranking factors, with review signals accounting for 13% of how Google ranks local search results.

In our experience, reviews have become an even more important local search engine ranking factor in recent years.

#Online reviews are trusted as much as personal recommendations by consumers

A survey by Dimensional Research found that 90% of consumers trust online reviews as much as personal recommendations.

This is interesting because it tells us that personal recommendations are not as important to online consumers — as long as they can see online reviews from verified buyers online. That can adequately help them form their purchase decision.

Strangers aren’t really strangers online — as we will see in the next statistic.

#Consumers are more likely to trust reviews from strangers

A study by BrightLocal found that 70% of consumers trust online reviews more when they see positive reviews from strangers.

#Positive reviews improve click-through rates

A study by Search Engine Land found that online reviews can improve click-through rates by up to 35%.

A higher CTR usually has a direct impact on search engine rankings, which can lead to potentially higher search engine rankings and traffic down the road. In addition, a higher CTR also directly translates into higher traffic, which increases total revenue potential.

#Negative reviews can have long-term effects

As we just saw, there are numerous benefits of positive reviews. However, negative reviews can be just as harmful.

A study by ReviewTrackers found that negative reviews can have a long-term effect on a business. 42% of consumers say they would avoid a business for up to a year after reading a negative review.

#Positive Reviews Increase Sales

According to a survey by BrightLocal, 84% of people trust online reviews as much as personal recommendations. Positive reviews can significantly boost a business's sales and increase customer loyalty.

#Reviews Impact Purchase Decisions

A survey by Invesp found that 72% of consumers say that positive reviews make them trust a business more and that they are more likely to make a purchase.

So even if a review doesn’t directly lead to a purchase at that moment, it positively impacts a consumer's mindset and makes them trust a business more. That positive impression is more likely to make them convert and become a customer down the road.

Conclusion

In conclusion, online reviews will be a crucial aspect of any business in 2023.

The statistics presented in this article highlight the importance of positive reviews for increasing sales and building trust with customers, as well as the potential negative effects of negative reviews on a business's reputation.

By understanding these statistics and using them to guide their online review strategy, businesses of all types and sizes can take benefit from online reviews and improve their bottom line along with building a strong, reputable brand.