Here’s What’s Keeping Your Revenue from Growing by 33%

Here’s What’s Keeping Your Revenue from Growing by 33%
It’s all about 2 Little Stars

When Brightpearl wanted to know more about how online customer ratings impact businesses and their brands, they partnered with Trustpilot to take a closer look. They compiled their findings in an eye opening new report.

While it may not seem surprising to learn online reviews do matter to your customers, some of the numbers are sure to get your attention.  They got mine.

Online reviews have been around for a long time.  But their role in consumer decision making seems to have exploded over the past few years.

Here are 3 numbers from the study that leapt out at me:

  • 92% of shoppers will check for star ratings before making a purchase
  • 95% read online review
  • 3.5 – that’s the minimum star rating that consumers will accept when shopping

If those numbers are cause for concern, here are 3 numbers that point to why you should be optimistic about the opportunities available:

  • Only 15% of retail brands have five-star ratings
  • 75% of consumers say they would spend more with the merchant with excellent reviews or high star ratings
  • 33% – that’s the potential revenue upside for retailers who can take their star rating average from a 3 to a 5

Read the study here to learn more about how your ratings might be driving your revenue. 

If you’d like to learn more about how Skybridge Americas can help you improve your customer experience and boost your ratings, please reach out!  We would love to talk with you.

by Bobby Matthews
Senior Vice President, Sales and Marketing
Skybridge Americas
bmatthews@skybridgeamericas.com

 


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