With 90% of consumers reading online reviews before visiting a business, it's obvious that reviews have become a main element in the consumer's purchasing decision. Businesses need to value reviews to help their bottom line.
When customers are likely to spend 31% more on a business with excellent reviews, its essential to know that reviews equal revenue. It's even recorded that every one-star increase in a Yelp rating means a 5 to 9% increase in revenue.
In order to create a strategy to maximize this opportunity, it's essential to start looking at the consumer's motivation for leaving an online review. This is the first step in creating a profitable strategy for maximizing reviews for your business. You need to look past the obvious sentiment that reviews are important and ask why?