As first post, I thought to provide a background on the basic premise of the existence of our business. In that regard, this is an attempt ( in Q&A format) to answer the pertinence, relevancy of reviews for anyone’s business - be it services or consumer products. 

Why are reviews important for your business?

…because your users trust each other, not you

Why are reviews and ratings important?

  • 76% of consumers believe companies do not tell the truth in advertising ( Source: Yankelovich) 
  • 78% believe consumer recommendations are the most credible form of advertising ( Source: Nielson)
  • 83% say online ratings and reviews influence their purchase decisions ( Source: Opinion Research Corporation)
  • 84% trust user reviews more than critic’s reviews ( Source: Marketing Sherpa)

Does product review influence buying behavior?

  • 76% consumers use online reviews to help make an informed purchase decision ( Source: Forrester)
  • 63% of consumers are more likely to purchase from an website offering ratings & reviews ( Source: eVOC Insights)
  • 69% of consumers who read online reviews share them with friends, family, colleagues ( Source: Deloitte)

How can reviews help your online presence?

What is the typical impact of online reviews?

Are reviews only for online platforms?

  • No, purchase may happen online or offline; however research only happens online.
  • 24% of those present online have used online reviews before buying a service/product delivered offline ( Source: comScore & Kelsey Group)

How does it help me when reviews are only negative?

  • “People only write reviews when they are mad or disappointed”: This is a myth !!!
  • 80 % of all reviews online are positive in nature ( Source: Forrester)
  • 75% reviews at Reviews42.com are positive in nature

Wouldn’t negative reviews hamper my brand?

  • Negative reviews make the website, ecomm platform, brand, webstore more credible.
  • Negative Reviews increase an user’s comfort in purchasing as the weaknesses of the product are now known. 
  • Negative reviews help customer ratify their purchase as they believe all concerns have been vetted 
  • Negative Reviews lead to product improvements

Source: http://goo.gl/0ZqKt