According to an article in the Harvard Business Review, there are multiple reasons why and how more reviews improve sales, and how reputation can drive nearly every aspect of a company’s performance: “Firms with strong positive reputations attract better people. They are perceived as providing more value, which often allows them to charge a premium. Their customers are more loyal…”
Why Are Online Reviews So Important: How More Reviews Improve Sales
(and how Shopper Approved® is the only review company who helps you do it)
- More Review Volume = More Review Distribution = More Visibility & Credibility.
- More Trusted, Verified Reviews = More Accurate, Higher Overall Star Ratings.
- More Reviews = More Current & Relevant Reviews.
- More Reviews = More User Generated Content (UGC) = Improved SEO.
- More Reviews = More Momentum = More Influence and Influencers.
- More Types of Reviews in More Places in Google = Maximum Visibility EXACTLY Where Customers Are Searching.
- Higher Review Count in Google Ads = More Social Proof & Higher Click-Through Rates.
- More Reviews = More Credibility and Trust.
- More Reviews = Easier Recruiting
- More Reviews = Better Reputation, and Lower Cost of Financing and Equity
According to an article in the Harvard Business Review, there are multiple reasons why and how more reviews improve sales, and how reputation can drive nearly every aspect of a company’s performance:
“Firms with strong positive reputations attract better people. They are perceived as providing more value, which often allows them to charge a premium. Their customers are more loyal and buy broader ranges of products and services. Because the market believes that such companies will deliver sustained earnings and future growth, they have higher price-earnings multiples and market values and lower costs of capital. Moreover, in an economy where 70% to 80% of market value comes from hard-to-assess intangible assets such as brand equity, intellectual capital, and goodwill, organizations are especially vulnerable to anything that damages their reputations.”
Outside of media and news coverage, a company’s reputation is primarily driven by its online ratings and reviews. And statistically, the more reviews you collect from actual, verified customers, the better your average score. Continue reading for an in-depth look at why and how collecting more reviews improve sales and are your quickest and best strategy to improve your reputation, and your business success:
1. More Review Volume = More Review Distribution = More Visibility & Credibility.
With most review platforms, you barely collect enough reviews to display them on just that one review site. But, with Shopper Approved, you collect up to 40x more reviews, which means that you have so many reviews that you can distribute up to 75% of them to other high-profile review sites using our Survey Destinations™ tool. With a higher number of 5-star reviews across multiple review sites, you create a dominant web presence, which means significantly more visibility, credibility, popularity, and trust – all of which directly translate into more site traffic and more sales.
2. More Trusted, Verified Reviews = More Accurate, Higher Overall Star Ratings.
Unlike Open Review platforms, where anyone can leave a review without any verification, including your competitors, Shopper Approved only collects reviews from actual verified customers who have made a purchase, and we try to collect ratings and reviews from every single customer. Because our unique process and technology are able to collect so many more reviews, and the sample size is so large, your overall rating is much more accurate and naturally higher, because it’s a truer reflection of your customer’s overall experience. This is a statistical fact, and this is why Shopper Approved clients have more and higher average star ratings. It’s not because the negative reviews are deleted or manipulated in any way, it’s simply because we collect more reviews from happy clients due to the simplicity of our collection process.
3. More Reviews = More Current & Relevant Reviews.
As buyers become savvier, one of the trending factors they’re looking at is ‘review recency’. While this is particularly relevant for local reviews, where 40% of people only consider reviews created in the previous 2-weeks, and 85% of buyers don’t think that reviews over 3 months are relevant, it is quickly transitioning to the online marketplace, where consumers are giving more weight to recent, relevant reviews. Because Shopper Approved collects so many reviews, new potential customers always get a fresh, current perspective.
4. More Reviews = More User Generated Content (UGC) = Improved SEO.
Because Shopper Approved Product Reviews are displayed on your home and product pages, every time you get a new review, that content is automatically added to your site, which means that you get a continual stream of new User Generated Content (UGC) to improve your SEO. This, in addition to our special Schema code that adds Star Ratings to your product listings in Google Organic Search Results, helps your individual product pages rank better and get more attention, which means more visibility and clicks to your website.
5. More Reviews = More Momentum = More Influence and Influencers.
One of the unexpected, positive benefits of collecting and displaying more reviews, is that over time it can become part of your culture, where your customers are more naturally inclined to leave you reviews – creating momentum. You also are more likely to collect longer, more detailed feedback, and even attract influencers and experts with their own spheres of influence that can help to increase your visibility, trust, and credibility. And longer, more detailed, and specific reviews are more valuable and influential to potential customers. It’s also noteworthy, that the Shopper Approved process allows you to create custom survey questions, which encourages more specific and higher quality reviews.
6. More Types of Reviews in More Places in Google = Maximum Visibility EXACTLY Where Customers Are Searching.
While there are dozens of online review platforms out there, most of them don’t have review syndication partnerships with Google, which means Google won’t accept their reviews. In fact, only 9 review companies are authorized to syndicate both Seller Ratings and Product Reviews to Google – Shopper Approved is one of them. However, unlike the other 9 companies, we also collect video reviews and syndicate those to your YouTube channel, where they show up in Google Organic Search Results, which means that when you combine all 3 types of reviews, you can expect those reviews to show up virtually everywhere your potential customers are searching, including:
– Google Organic Search Results
– Google Shopping
– Google Video Search Results
– Google Seller Ratings
– Google Adwords, and
– Google Product Listing Ads (PLA’s)
7. Higher Review Count in Google Ads = More Social Proof & Higher Click-Through Rates.
As a Google Approved Syndication Partner for both Seller Ratings and Product Reviews, Shopper Approved can send both your overall Star rating and your total number of reviews to Google, who then displays them directly in your ads. Because both of these numbers are naturally higher with Shopper Approved, your ads are more likely to stand out, making them more credible and more likely to get clicked on.
8. More Reviews = More Credibility and Trust.
Research by the Journal of Psychological Science indicates that “Given two products with similar ratings, consumers are more likely to buy the product with more reviews.” That’s how more reviews improve sales, and reviews that you can actively display in Google, the better chance you have of attracting potential customers and influencing them to buy from you over the competition. Shopper Approved displays more reviews in more strategic places in Google than any other review company online – and we do it the right way every time so that every review is 100% authentic, transparent, verified, and trustworthy.
9. More Reviews = Easier Recruiting.
The best employees like to work for companies with solid reputations. They can afford to be choosy, and they tend to choose companies that have a good reputation for taking care of their employees and customers. So more reviews improve sales and your ability to attract and retain the best employees. Attracting and retaining top talent, of course, is critical to reducing turnover, the cost of recruiting, and your overall success. And according to an article in the Harvard Business Review, a bad reputation can cost at least 10% more per hire, as it becomes more difficult and expensive to recruit candidates.
10. More Reviews = Better Reputation, and Lower Cost of Financing and Equity A recent 2019 study by the University of Arizona found that a better reputation lowered the cost of loans “…reputable borrowers enjoy lower borrowing costs and better loan contract terms: Relative to otherwise similar loans, loans initiated after a firm being recognized as Most Admired Companies are associated with 18% lower borrowing costs, 7% fewer financial covenants, and 6% lower likelihood of collateral requirements.” Another study found that “… higher levels of reputation are associated with a lower future cost of equity.” The research suggests, that just like consumer loans, an organization’s reputation impacts its cost of loans and equity.
Bottom line, if you want:
- – To Collect Up to 10x More Ratings and Reviews at the lowest cost per review
– Your Reviews to show up in More Strategic Places in Google
– To work with an official Google Syndication Partner (with both Seller Rating and Product Review agreements in place for more than 7 years.)
– To Collect All 3 Types of Reviews (Seller Ratings, Product Reviews, and Video Reviews – All in one streamlined customer survey)
– To Collect Only Verified, Transparent, Trusted Reviews
– The ability for your Verified Customers to leave reviews on other Review Platforms
– Higher, authentic Star Ratings and Review Counts in your Google Adwords and PLA’s
– More Current, Relevant Reviews to keep your ratings Fresh and Updated
– More User Generated Content (UGC) for your Product Pages to help with SEO
Then Shopper Approved is the only review company for you.
We work with over 7,000 amazing companies every day, ranging from startups to the fortune 500. We are also one of the largest review companies in the world with nearly 60 million reviews to date and have won numerous awards, including the Inc. 500 (twice), the Utah Fast 50, and the Utah 100 fastest-growing companies (three times in a row).
We are true entrepreneurs who have never taken any venture capital, which has given us the freedom to be innovative and creative while following the dictates of our own conscience, instead of being forced to compromise our standards in order to get an ROI for investors.
We also believe that trust and integrity are everything and that we have a solemn obligation to both our clients and consumers around the world to always do the right thing no matter what. If you believe these same things, then you are the kind of client we want, and we will do everything we can to help you be successful.