There are many aspects that become tools for a business enterprise in terms of aggressively initiating their marketing endeavors, such as case studies, reviews, star ratings, and more. But, what really instills confidence and trust among the customers is the testimonials on the company website that highlight the customers' real-time experience. Many studies have proved that more prospects get convinced and rely on testimonials. In fact, testimonials offer potential customers to understand your business model better, thus, helping them to firm up their minds whether it is just right for them.
According to a study conducted by Big Commerce, an estimated 92% of potential customers do rely on digital reviews before they make up their minds to purchase. The study also found that around 72% of the clientele said what gave them increased trust in businesses was only after reading positive testimonials as well as reviews.
Another study conducted by Nielsen says that almost 70% of consumers preferred to trust reviews and recommendations from unknown reviewers. Similarly, a whopping 88% of buyers had told Vendasta that online reviews influenced them to firm up their minds on digital shopping. What's more, as per the Demand Gen Report, 97% of Business-to-Business or B2B customers agreed that testimonials and recommendations by peers and family members were the real authentic content.
Invariably, most of the businesses agree that product reviews, as well as testimonials, are pertinent for the growth of online. Nonetheless, they were not sure about how many reviews, testimonials, or star ratings are required to gain the much-needed traction. Perhaps, a few research statistics should help the online players to comprehend their ambiguities.
How much is too much
As per the research conducted by Vendasta, 73% of online buyers read at least half a dozen reviews before taking a final call. Also, the study reveals that 12% of customers prefer reading more than ten reviews before making a decision whether to buy or not. Big Commerce report that in excess of 10 reviews are likely to add up more search traffic. Another interesting aspect found by the study conducted by Opt-In Monster says that in excess of 40 reviews should be there in place before the online buyers get convinced about the accuracy of star-rating, while Big Commerce said more than 50 reviews on a slew of product pages are likely to boost conversions by 4.6%.
Advantages of testimonials
Besides driving the much-needed revenue, testimonials are safe bets in terms of finding solutions to buyers' objections in addition to boosting the confidence of your patrons in your product portfolio or service. Thus, testimonials not only act as a powerful tool in terms of increasing the possibility of buying but also minimize resistance in terms of purchasing high-end products or services.
Another study by strategic factory suggests that the use of consumer testimonials on a regular basis is likely to increase the revenue by an estimated 62%. Furthermore, Power Reviews revealed that the testimonials by the convinced consumers, when positioned alongside high-end products, boosted the conversion rates to a whopping 380%. Harvard Business research revealed that boosting an entity's Yelp rating even by a single star can add up revenue by 5-9%. Having said that a study by Impact says that the testimonials on sales pages boosted conversions by 34% on an average. Big Commerce reported that buyers who interacted with reviews are 58% more likely to end up purchasing products. Also, the study showed that patrons who interacted with reviews ended up spending 3% more per order on average.
However, the real testimony is the testimonials, which not only improve the traffic flow to your website but also have a positive result on the Search Engine Optimization (SEO) front, thus garnering more search traffic. Evidently, the study by Yotpo said that websites with excellent testimonials witnessed an increase of 45% in contrast with those websites which did not upload any testimonials. Also, Big Commerce reported that posting in excess of 10 reviews on their websites boosted 15-20% traffic on Google Business Listings.
Now that you've come to know the power of testimonials don't wait further to add all those good words to your website.