Consider this, the main reason online retailers offer customer product reviews is that the reviews have a major impact on sales. Studies have shown that having at least five reviews on a product’s sales page can increase its sales by more than 250 percent.
Likewise, ratings such as star ratings also have a positive impact for ratings between 4 and 4.7. (Source Link).
Knowing this, who wouldn’t want to repeat this success with their own products and services?
They Don’t Need to Be Perfect
Reviews that are honest rather than stating that your product is 100 percent perfect have a far greater impact than if you had all-perfect ratings. The reason is that consumers don’t believe those five-star ratings, but they do believe it when a rating is more realistic because nothing is perfect.
You Don’t Need a Lot
The study also showed that five reviews on a sales page increased sales, but having more reviews doesn’t necessarily correlate in the same manner. Therefore, you don’t need to race to the top of the most reviews for each product that you create. Put the most honest reviews on your sales page for the best results.
Higher Priced Products Need Reviews More
The study also showed that the more highly priced your product, the more the presence of good reviews stood out as a factor in increasing sales. In fact, those products saw increases over 300 percent when there were at least five positive reviews posted on the sales page.
Reviews from Verified Buyers Carry More Weight
When a potential customer reads a review about your product or service from someone who paid for it, it means more than when they got the information free. Part of the reason is that most unverified buyers, at least on platforms like Amazon, are anonymous sources which more and more often no one believes.
What Does This Say to You?
Hopefully, this makes it clear that it’s important to make it a habit to ask your buyers for a review on your products and services. Plus, where you do have control over them, publish only the most honest but positive reviews on your sales page and don’t put more than five, since more isn’t better in this case. And, if your product is sold on a platform like Amazon, stop sweating the bad reviews since sales improve when you’re just under five stars rather than at five stars.
Working to get reviews from your buyers is an important part of helping prospects choose you over someone else. By working toward identifying verified buyers on your own sales pages, allowing for less perfect reviews, and responding kindly to bad reviews, you’ll impress a lot more people than if you take the other avenue and try to drown out bad reviews with more reviews, or if you respond poorly to bad reviews in public.