RatePoint

Data reinforces that customer reviews have an impact

Data continues to show that consumers see peer reviews as an important source for making purchase decisions. Earlier this month, Nielsen released its Global Online Consumer Survey and the results showed 70 percent of consumers said they trusted customer opinions posted online, behind only recommendations from people they know from a degree-of-trust standpoint.

This holds true for the SMB market, as well. We recently surveyed some small-business owners and found some interesting data that we announced recently.

Our research found that reviews are six times as likely to impact a business positively (24 percent) than negatively (4 percent.)  While many small businesses are apprehensive about reviews due to the possibility of a negative review, the reality is they are more likely to see positive feedback.

Additional analysis of our survey was covered in Entrepreneur, Small Business Newz, Small Business TV and Blogtrepreneur.

While reviews are a low-cost, high-return marketing strategy, many SMBs aren’t taking advantage of the opportunity. We also found that a third of small businesses weren’t even sure if a review had impacted their business.

Want to find out how to better collect positive reviews for your business? Are you a small business who doesn’t know how a review has impacted you? Contact us and we’d be happy to get you started on a trial of RatePoint that will empower you to use this low-cost, high-return marketing tool to grow your business.