![]() ![]() While 5-star reviews may make the product team proud, they may make buyers suspicious. After five reviews, however, the likelihood to purchase higher priced items leveled off. Having five reviews causes purchase likelihood to increase by a factor of nearly 4x,” the Spiegel report discovered. “Our research found that as products begin displaying reviews, conversion rates escalate. The study found that, in general, more reviews lead to more purchases. ![]() ![]() The more reviews, the better - up to a point “The purchase likelihood for a product with five reviews is 270% greater than the purchase likelihood of a product with no reviews,” the Spiegel report found. In fact, one high-end gift retailer saw its conversion rates soar after adding reviews. The research discovered that displaying reviews on websites and landing pages can boost conversion rates. Here are five takeaways from “How Online Reviews Influence Sales” for B2B and B2C marketers alike: Displaying reviews can boost conversions by 270% While the report focused on consumer products, the finding that higher priced and higher consideration products enjoyed even more benefits from positive reviews should drive home the importance of reviews for B2B marketers. Spiegel’s and PowerReview’s new report, “ How Online Reviews Influence Sales,” showed that consumer reviews have sometimes surprising impact on sales. Recent research from Northwestern University’s Spiegel Research Center, conducted in conjunction with PowerReviews, shows just how influential online reviews written by consumers can be. One flash point of this change is the power of online product reviews to influence the purchase process. It’s no secret that companies no longer control their brand reputation, consumers do. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |