But have you ever wondered what psychological forces are behind these reviews influencing what consumers buy? Here are some ways reviews impact purchasing decisions and how your business can use this to your advantage.
Over 90% of consumers say they use online reviews to influence what they buy. This inclination toward 'safety in numbers' often shapes shopping habits. And the bigger the risk or higher the price of the product or service, the more this rings true. In other words, the more opinions they want before buying.
Moreover, they consider the opinions of other consumers more valuable than influencer or celebrity endorsements, product descriptions or the marketing material you're putting out there.
Still, many businesses will invest a lot of money in product endorsements or marketing but often overlook using online reviews to promote their products or services.
Our natural instinct is to avoid danger and play it safe. It’s a survival mechanism that still influences how we make decisions today, including how we spend our hard-earned money.
But, in an online world rampant with scams, reviews act as a kind of safety net. They are real stories from real people and help consumers make decisions based on actual experiences. And, through avoiding risk, consumers get that sense of security we as humans crave.
"Having your Hellopeter metrics on your website is extremely important,” says Alon Rom, CEO of South Africa’s top online review platform, Hellopeter. “It instils considerable confidence in prospective customers when making purchasing decisions. Simply having reviews visible on your checkout page has led to a remarkable increase of approximately 25% in conversions.”
When many reviewers agree on the best products or services, it holds significant sway for shoppers. This is because of social proof, a psychological phenomenon that makes us look to others' actions to determine what's right.
Online, a single person's opinion doesn't hold enough weight. Instead, consumers look for the collective voice. This is where review platforms like Hellopeter play a pivotal role. It provides a space where people with shared concerns offer their diverse perspectives. This is why it’s important for your business to have as many reviews as possible.
You might wonder what’s in it for your customers to take the time to write you a review? Well, writing reviews gives them the opportunity to make a difference, which makes them feel a sense of purpose. So, don’t be afraid to ask for feedback. Consumers want to feel valued and that their voice matters.
"Online reviews empower both the consumer and the business. By actively managing your business’s online reputation, you can take control of your narrative, build social proof to give consumers the confidence to buy from you, and leverage the power of SEO to become more discoverable on search engines like Google," explains Rom.
Consumers understand that every action has a reaction, and this chain of events will ultimately improve their own shopping experience. So, by writing a review today, customers believe they might have an enhanced experience in the near future.
“It’s vitally important to acknowledge each and every review your business receives,” says Rom. “By actively replying to your reviews as soon as possible, you build trust in your brand and can mitigate any issues early on. We’ve seen what a huge difference this makes to businesses once they implement a reputation management strategy that’s proactive instead of reactive.”
With reviews holding so much weight for consumers, businesses can't afford not to pay attention, particularly with the big shopping season upon us.
Regularly collecting new reviews and replying to these reviews are vital to your business's growth, and understanding how to use them can make all the difference when it comes to sales and customer service.
In a world saturated with choices, the power of reviews is undeniable. This Black Friday, let's collectively contribute to an informed and empowered shopping experience so both shoppers and businesses can benefit from reviews.
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