Regardless of the model (B2B, B2C, C2C), online reviews and ratings have a rather direct effect on the growth of a business.
It only makes sense, after all. If you're planning to purchase something, wouldn’t you want to know everything about that company and product? YES! And reviews and ratings are the most effective way to do that.
(Courtesy: Web Hose)
In fact, before going into the stats, I believe user-generated contents play an even more important role in B2B given the decision involves lots of money and the future of a business depends on it.
Now, let’s understand the numbers…
• 92.4 percent of consumers are more likely to purchase a product or service if they have been able to read a trusted review about it.
• 9 out of 10 buyers are more likely to purchase a product after reading a positive review.
• 1 in 5 companies is considering adding reviews to their marketing mix.
• On a scale of 1-7, 68.6 percent of businesses rate the effectiveness and value of reviews between 5 and 7.
• 52 percent of businesses use reviews to establish and improve the credibility and trust of their brand. 51 percent use them to increase brand awareness.
(These images and numbers are taken from G2Crowd
There are many and many such stats that affirms just how important reviews and ratings are in B2B (and B2C) for the growth of a business.
So, if you don’t already have a review marketing strategy, map one today.
(Courtesy: Rocks Digital)
Aim to get more positive reviews and ratings. Ask your customers on social media channels and through emails to leave you kind words if they are satisfied with the product or service.
Get extremely serious if your rating drops below 3.
And, MOST IMPORTANTLY, do not buy reviews and ratings. Do not write fake reviews. Not only is it unethical, but it's also not sustainable. Besides, believe it or not, people can just tell!
Hope this answer helps you! :)