Have you ever stopped to think about the impact that online reviews have on our decisions as consumers? It turns out that these seemingly harmless comments and ratings have a much more profound effect on our choices than we might realize.
According to a recent study by BrightLocal, a staggering 82% of consumers read online reviews for local businesses, with 52% of people aged 18-54 saying they always read reviews. This trend is not limited to just small businesses either, with 97% of consumers reading reviews for large chain restaurants.
But what exactly is it about online reviews that make them so influential? Psychologists suggest that it all comes down to social proof – the idea that people will follow the actions of others in an attempt to reflect correct behavior. In other words, when we see positive reviews for a product or service, we are more likely to buy into the hype and make a purchase ourselves.
Not only do online reviews influence our purchasing decisions, but they also have a significant impact on businesses. A Harvard Business School study found that a one-star increase in a business’s Yelp rating leads to a 5-9% increase in revenue.
The power of online reviews is undeniable, shaping both consumer behavior and business success. So next time you go to leave a review on Yelp or Google, remember that your words have the power to make or break a business.
