Product reviews increase your online sales by 270%!

Research from Spiegel has found that the likelihood of purchase for products with five or more reviews is an astonishing 270% greater than the purchase of a product with no reviews. This is particularly true for higher-priced products.

Key findings:

  • The purchase likelihood for a product with five reviews is 270% greater than the purchase likelihood of a product with no reviews.
  • For lower-priced products, the conversion rate increased 190%; for higher-priced products the conversion rate increased 380%.
  • Five stars is “too good to be true” – purchase likelihood peaked at ratings in the 4.0 – 4.7 range, and then started to decrease as ratings approach 5.0.
  • Reviews from verified buyers were substantially more positive and with a higher rating than reviews written by anonymous sources.
  • “Verified buyer badges” improves the odds of purchase by 15%.

Reference: https://spiegel.medill.northwestern.edu/how-online-reviews-influence-sales/

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What does this mean for you as a retailer?

  • You need to have product ratings and reviews in you online store, or you will lose customers to a site that does.
  • Make sure you have 5+ reviews on a big portion of your products – not only the best sellers to maximize your online sales.
  • Embrace negative reviews, as they establish credibility and authenticity (and give you valuable insight you can use to improve your business!)
  • Display “Verified buyer badges” and do not allow for anonymous reviews – this ruins your data set and is likely to give you lower scores.

What are you waiting for?

Get in touch to see HOW Lipscore Ratings & Reviews customers get on average a 22% reply rate on all online orders, and how YOU can get 2-4 times more ratings on YOUR products, and guaranteed 100% Real, Verified and Legal Reviews.

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