Small businesses are the lifeblood of any local economy. They are also the most prone to failure, with as many as nine out of 10 failing in the first five years. Today’s consumers are aware and connected—they can find information about your business almost instantly online and from a variety of sources.
With all this exposure, you must create a positive first impression — but how? Many small businesses overlook the importance of online reviews, which is unfortunate because they can be a game-changer for new customers and old ones who haven’t visited recently. With so much competition around every corner, it’s no wonder small businesses struggle to thrive.
But there are many ways that you can help your business succeed in today’s market. One of the key factors is online reviews. Let’s take a closer look at why this is such an important part of growing your business and what you need to do to make sure yours is successful.
A Little Background on Online Reviews
Online reviews have been in existence for quite some time now. The oldest known online review was written in 1997 about a computer store in New York City. What’s made them even more important in recent years is the increased use of mobile devices.
You can now read and write reviews from just about anywhere—which has left many customers feeling more comfortable about sharing their thoughts and experiences online. People are also getting used to this kind of interaction — which makes online reviews even more important to your business.
These days, online reviews are also more important than ever because of their sheer volume of them. One study predicts that the number of online reviews will double by 2022! This means that your business could lose a significant amount of traffic if you don’t have a strong online presence.
Online Review Statistics for 2022
What are some statistics regarding online reviews that you can look forward to in the next five years? Let’s take a look at some of the most notable ones:
- E-commerce sales are expected to increase by over 50% by 2022. This is good news for businesses like yours, which are mostly e-commerce.
- As more and more people shop online, the average number of reviews per product will also increase. This means that you’ll need to be even more diligent about collecting reviews and encouraging your customers to leave them.
- Review rates are expected to increase by almost 40% over the next five years. This means that the number of people leaving reviews will also increase.
- The amount of money that people are spending on review-related services is also expected to increase significantly.
- The average number of reviews per person will likely increase since more people are likely to leave reviews on multiple platforms.
- The percentage of reviews that are “fake” is expected to drop significantly. People are also expected to leave more detailed reviews as time goes on.
Benefits of Online Reviews
After reading about the importance of online reviews, you might be wondering why you should care if a couple of customers take a few minutes out of their day to leave a review.
1. Increase Traffic
If you have a high volume of positive reviews, you can use those reviews to your advantage. You can encourage your customers to leave positive reviews on the sites where they found you. As you work to increase your traffic, you should also aim to increase your online reviews.
When you have a high volume of online reviews, it can help to drive more traffic to your site. This can be accomplished in several ways. You can put a call-to-action on your website to help customers leave reviews for your products.
You can also include a link to your reviews in an email campaign or on printed material. This can help to drive more traffic to your site and encourage customers to leave positive reviews about your products or services.
2. Better Conversions
The truth is that online reviews can help to increase sales and conversions from the very beginning. When you first start, you may not have many reviews on your website. This can be a bit of a stumbling block, as customers may wonder why there aren’t any reviews yet.
Getting a few early reviews can go a long way to reassure new customers that they made the right decision. Once you have a few reviews posted, you can encourage new customers to leave reviews.
You can ask them to leave reviews both on your site and on other review sites as well. This can help to boost conversions and reassure customers that they made the right decision to buy from your business.
3. Know Your Customers’ Profile
Online reviews can help you to learn more about your customers. When customers leave reviews on your site, they can provide information about themselves.
This can help you to better understand your customer base and the products or services that they are most interested in. Getting to know your customers better can help you to offer a better service and to target new products and services to your existing base.
It can also help you to target your marketing and advertising efforts to people who may be most interested in your products and services. Knowing your customers’ profiles can help you to better reach your target audience and boost your sales as a result.
4. Know the Current Trends
When you get online reviews, you can also learn about the current trends in your industry. You can see what customers are saying about your business and the products or services that you offer.
This can help you to better understand the current trends and how your customers are feeling about your products and services. This can help you to refine your business plan and make better decisions about what products or services you should add to your business and how you can improve your current offerings.
Getting online reviews can help you to better understand what your customers want and how you can improve your business to meet their needs.
5. Showcase Your Expertise
Reviews can also help you showcase your expertise by providing a place where your customers can leave their suggestions, questions, and praises regarding your products or services.
You can answer any questions that are frequently asked by your customers. This is a great way to showcase your expertise. You can also address any concerns or issues that your customers might have.
Always make sure that you’re honest and sincere in your responses. If you don’t know the answer to a question, don’t be afraid to say so. Your customers will appreciate your honesty.
6. Boost Customer Confidence
Because online reviews are such an important part of any purchase decision, they can help boost your customers’ confidence by reassuring them that they’ve made the right choice.
Always respond to negative reviews professionally and respectfully. Don’t ignore them. Instead, thank the person for their feedback and show them that you appreciate it.
If your customers leave positive reviews, make sure to thank them for their support and praise.
7. Help Find Your Perfect Client
Reviews can also help you find your perfect client, which can be incredibly helpful if you’re struggling to find the right demographic for your business. Read through your reviews and try to find common themes.
You can also use an analysis tool, like Review Analyzer, to see what your top-rated reviews all have in common. Once you discover what your ideal customers are looking for, you can tailor your marketing efforts to speak to those people specifically.
8. Lay the Groundwork for Growth
Finally, reviews can also help you lay the groundwork for future growth. – Always be on the lookout for areas where you can improve. You might discover that your prices are too high or that you need to improve your shipping times.
Review your most recent reviews and see what your customers are saying. – You can then use that information to improve your business and create a better experience for your customers.
The more positive reviews you have, the higher your overall rating will be. This will make it easier for new customers to discover your business.
9. Know What to Improve
After reading reviews from your current customers, you might discover that certain areas of your business could use improvement. You should also try to identify what your “red flags” are. These are the types of reviews that will be used against you in the future.
Pay attention to the language used in your negative reviews. If you notice that a few reviews are “over-the-top” negative, that might be a sign that you need to make some changes.
Conclusion
Online reviews are the first thing many customers will read when they’re trying to decide where to spend their money. This means that you have a limited amount of time to make an impression.
Once you’ve gathered a few reviews, make sure that your business has a way to share them on your website. – You can also encourage your existing customers to leave reviews on the sites where they’ve found your product online.
A strong online presence is crucial in today’s marketplace. Online reviews are one of the best ways to increase your traffic and improve your business.
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