"It's actually been shown that a rating of 4.3 stars not only piques the shopper's highest interest, but also provides the highest product sales conversion rates. "
Zuzana Stewart, HelpfulCrowd
Over 85% of consumers state that they read reviews often or very often before making an online purchase and including product reviews on an online store leads to conversion increases for over half of retailers.
Verified vs unverified.
Firstly, verified reviews carry more weight and authority. Why? Because they have been written by a person who has actually purchased the product, not just a random stranger or competitor.
Secondly, unverified reviews have an average review rating of 3.8 stars and have been shown to drop over time, whilst verified reviews have been shown to have an average (and optimal) rating of 4.3 – the best score for highest conversion.
Verified buyer badges (like those given by e-commerce customer review apps like HelpfulCrowd) give assurance to anyone viewing products on your site and gives reassurance that content is from genuine customers.
Verified content matters.
While a consumer might choose to filter a bunch of reviews according to their rating, the wording of the reviews carries the most valuable information.
Content from verified reviewers resonates more, because it is written by a real customer who has a real experience to share. The depth of the review is more expansive, insightful and useful for SEO, as the reviewer will use organic terms and phrases based on first-hand experience, from the unboxing of a product to first time use.
Negative reviews can actually enhance credibility.
95% of consumers suspect censorship when they don’t see bad scores, and 30% even assume a company is creating fake reviews when there are no negative experiences reported.
Most consumers want to know why a buyer didn’t like a particular product and, in many cases, it could just be something relating to individual taste or preference.
Reviews are good business.
Business owners not paying attention to reviews are likely to find their sales conversion rates lacking down the line. While many businesses are keen to spend money on advertising and marketing, many fail to leverage and harness their most powerful and convincing free marketing source – their customers.
Including product reviews on your site is not only good business practice, but a cornerstone of every successful business. What’s more, certain population groups – including millennial shoppers – are making purchasing decisions based on the experience of others. For this reason, they cannot be ignored.