How Many People Trust a Business More After Reading Positive Online Reviews

How Many People Trust a Business More After Reading Positive Online Reviews?

Published on: December 13, 2023
Last Updated: December 13, 2023

How Many People Trust a Business More After Reading Positive Online Reviews?

Published on: December 13, 2023
Last Updated: December 13, 2023

Quick Answer 🔍

How many people trust a business more after reading positive online reviews?

72% of consumers see an improvement in their trust after reading positive online reviews.

Every customer wants to avoid splurging cash on products and services not worth it’s price.

And with the easy availability of advice from fellow buyers, there is no point in driving 30 miles just to check a new restaurant that may only end up as a letdown. 

Exactly how many people trust a business more after reading positive online reviews?

Let’s find out the answer to one of Google’s most-searched questions.

How Many People Trust a Business More After Reading Positive Online Reviews?

Best Sites to Buy iOS App Reviews

Trust is the foundation of purchase – no one buys instantly from a business they do not see as trustworthy.

Today, the most efficient way to build trust in a product or service before making any purchase is through browsing customer reviews.

In fact, 90% of consumers check out online reviews first before deciding to pay a personal visit to a business they are interested in.

A recent study shows 72% of consumers see an improvement in their trust after reading positive online reviews. 

Consumers Spend More on Businesses They Trust 

Moreover, consumers are more likely to spend 31% on businesses with positive or “excellent” reviews.

On the other hand, 86% lose trust after reading too many negative reviews, leading to hesitation or backing down from buying a product or service.

Also, customers say they would “highly likely” not trust an establishment lower than a three-star rating.

This simply implies customer reviews have a big impact on a potential customer’s decision-making process, and therefore on a company’s ability to make money. 

4-stars Over 5-stars

Surprisingly, customers use the 4-star filter more than the perfect score. In defense, many say that 5-star rated establishments are just “too good to be true.”

As much as 70% of consumers filter out their searches and 35% of them use the 4-star rating filter.

In contrast, only 10% use the 5-star filter which is lower than 3-star users which are above 20%. 

Businesses with 4.2 to 4.5-star ratings have the highest purchase probability. Moreover, those sitting on the 4.0 to 4.5 threshold earn 28% more than any other star ratings. 

Star Rating and Response Time

review

It is time to go into detail about star ratings. 

Star rating, a visual representation of a positive or negative review, is affected by how fast a business’s response time is. 

A recent survey shows that the top 10% of all businesses in every industry showed faster response times and consistency compared to their competitors. 

Take a look at this data associating response times with the likelihood of getting a higher star rating. 

Automotive Industry 

  • The average response time for the top 10% of the companies in the industry is one day, with a median star rating of 4.31
  • The rest of the companies in the automotive industry has an average response time of eight days, resulting in a lower average star rating of 3.92

Hospitality Industry

  • The average response time for the top 10% of the companies in the industry is two days, with a median star rating of 4.32
  • The rest of the companies in the automotive industry has an average response time of seven days, resulting in a lower average star rating of 3.73

Food and Beverage Industry 

  • The average response time for the top 10% of the companies in the industry is two days, with a median star rating of 4.19
  • The rest of the companies in the automotive industry has an average response time of five days, resulting in a lower average star rating of 3.73

Financial Industry 

  • The average response time for the top 10% of the companies in the industry is four days, with a median star rating of 4.63
  • The rest of the companies in the automotive industry has an average response time of five days, resulting in a lower average star rating of 3.79

Healthcare Industry 

  • The average response time for the top 10% of the companies in the industry is five days, with a median star rating of 4.51
  • The rest of the companies in the automotive industry has an average response time of ten days, resulting in a lower average star rating of 3.76

Value-based Reviews and their Effect on a Reader’s Trust

Consumers want to get the most value out of their money.

This is why value-based reviews or those mentioning the price to worth analysis have the biggest effect on readers’ trust.

Here are some of the leading industries and their respective value-based rating standings. 

  • Legal services – only 33.00% of the total number of entities have positive value-based reviews in this industry
  • Real estate industry – only 35.70% of the total number of entities have positive value-based reviews in this industry
  • Education – only 36.40% of the total number of entities have positive value-based reviews in this industry
  • Finance Industry – only 40.50% of the total number of entities have positive value-based reviews in this industry

Review Sites and their Trust Value

Online Review

To access reputable online reviews, one has to rely on a trusted review site that’s free from swarms of bot-based reviews and unjust glorifications. 

Here are the leading review sites globally and the percentage of internet users that trust these platforms:

  • Facebook – 20% of internet users say they trust this platform when looking for online reviews for local businesses 
  • Yelp – much like Facebook, 20% of internet users say they trust this platform when looking for online reviews for local businesses 
  • Google – 16% of internet users say they trust this platform when looking for online reviews for local businesses
  • Trip Advisor – 11% of internet users say they trust this platform when looking for online reviews for local businesses
  • Yellowpages – 10% of internet users say they trust this platform when looking for online reviews for local businesses

Conclusion

Online reviews make or break a business. A good review encourages sales, while a bad one discourages potential customers. 

Meanwhile, customers have to be careful when picking up this information online as some are misleading.

The key is to do thorough research and only on trusted sites. 

Sources

Small Business Rain MakerReview TrackersTrust Analytica
ReputationxEntrepreneurSearch Engine Land
VendastaStatistaReview Trackers
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Written by Jason Wise

Hello! I’m the editor at EarthWeb, with a particular interest in business and technology topics, including social media, privacy, and cryptocurrency. As an experienced editor and researcher, I have a passion for exploring the latest trends and innovations in these fields and sharing my insights with our readers. I also enjoy testing and reviewing products, and you’ll often find my reviews and recommendations on EarthWeb. With a focus on providing informative and engaging content, I am committed to ensuring that EarthWeb remains a leading source of news and analysis in the tech industry.