A review rating increase of just 0.1 stars can boost a location’s online conversion rates – such as phone calls, website clicks or requests for directions – by 25%, according to new report from location marketing[1] firm Uberall released yesterday.
A 25% rise in conversion can “also mean a 25% increase in foot traffic every day,” said Uberall SVP of Marketing Norman Rohr in a statement. The “Reputation Management Revolution Report[2]” [free, registration required] also finds that a jump from a 3.5-star rating to 3.7 can see a disproportionate jump in conversions of 120%, the highest growth jump available.
A business’ priority on this front, then, should be to acquire 3.7 stars or above at all of its locations, Uberall said. Reviews and ratings of businesses are frequently posted by consumers on sites like Yelp, TripAdvisor, Facebook, Instagram, Foursquare and Google, among others.
‘Near me’ searches
Additionally, 4.0 and 4.4 stars also represent key review benchmarks in terms of affecting user actions. At 4.4 stars, bigger businesses start to achieve higher conversion rates than SMBs, which outperform larger businesses below 4.4.
Based in Berlin, Uberall offers a platform that helps businesses optimize for “near me” customers, including review management and making it easier to find relevant info, like directions or opening times.
The report also found that:
- Mobile[3] searches for brands and products “near me” have exploded, with 82 percent of users having conducted a “near me” search. Among millennials, the “near me” search rate is 92%.
- Nearly half of all consumers have left a review online, and 95% report that reviews influence their buying decisions.
- Replies by brands to their reviews can have a substantial effect on acquiring new customers. The report said that a 30% reply rate is