Is social proof really that important to your business? Can it drive more traffic and conversions? Despite the ever changing nature of social media, it does appear as if social proof will continue to hold sway with regard to the viability of a brand regardless of size or nature. In some eye opening research done by FinancesOnline it seems that social proof can, indeed, determine the future strength of a business. The following is taken directly from that recently published research:
- 87% of consumers check out reviews of local businesses online. (Murphy)
- 55% of online shoppers consider customer reviews to be very helpful in their purchase decisions. (Kunst)
- 66% of potential buyers agree that they will most likely be convinced to purchase a product because of its positive reviews. (Retail TouchPoints)
- 93% of potential buyers would read online reviews first before deciding to purchase a product or not. (Kaemingk)
- 91% of consumers between the ages of 18 and 34 trust online reviews as much as they trust personal recommendations. (Murphy)
- 93.4% of online shoppers rely on customer reviews when researching online retailers they are not familiar with. (Sabanoglu)
- The trust of 93.7% of digital shoppers in a brand increases because of positive reviews. (eMarketer)
- 88.8% of consumers say that their trust in a brand decreases if it has negative reviews. (eMarketer)
- 81% of online shoppers agree that having no customer reviews makes them lower their trust in a brand. (eMarketer)
- 43% of online shoppers learn about new and interesting products from social media networks. (Kunst)
- 87% of shoppers online believe that social media can help them make purchase decisions (Smart Insights)
- 79.9% of customers admit that their trust in a brand increases when the brand responds to negative reviews or comments. (eMarketer)
- Meanwhile, the trust of 95% of consumers decreases when brands remove negative comments instead of addressing them. (eMarketer)
-Written by Kevin Sawyer
