Online Reputation Management Statistics


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Steve Bennett
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Online Reputation Management Statistics 2023: Facts about Online Reputation Management outlines the context of what’s happening in the tech world.

LLCBuddy editorial team did hours of research, collected all important statistics on Online Reputation Management, and shared those on this page. Our editorial team proofread these to make the data as accurate as possible. We believe you don’t need to check any other resources on the web for the same. You should get everything here only 🙂

Are you planning to form an LLC? Maybe for educational purposes, business research, or personal curiosity, whatever the reason is – it’s always a good idea to gather more information about tech topics like this.

How much of an impact will Online Reputation Management Statistics have on your day-to-day? or the day-to-day of your LLC Business? How much does it matter directly or indirectly? You should get answers to all your questions here.

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Top Online Reputation Management Statistics 2023

☰ Use “CTRL+F” to quickly find statistics. There are total 87 Online Reputation Management Statistics on this page 🙂

Online Reputation Management “Latest” Statistics

  • Online reviews are trusted by 85% of customers as much as personal recommendations.[1]
  • Positive ratings increase consumer trust by nearly three-quarters.[1]
  • Negative reviews deter 60% of customers from doing business with a company.[1]
  • Before utilizing a business, 49% of consumers require at least a four-star rating.[1]
  • Before trusting a company, consumers read an average of seven evaluations.[1]
  • Every extra one-star Yelp rating increases the business’s sales by up to 9%.[1]
  • Only 1 or 2-star reviews failed to convert 86% of prospective consumers.[1]
  • Americans say they tell more people about bad service (15 persons on average) than pleasant encounters (11).[1]
  • Potential customers read an average of ten internet reviews before trusting your goods or service.[2]
  • Over 55% of those customers will only utilize a company with four or more stars.[2]
  • 95% of shoppers aged 18-34 rely on internet reviews as their primary research tool when selecting a business.[2]
  • Before making a purchase, 3% of individuals examine internet reviews.[3]
  • 84% of consumers value internet reviews the same as they would a suggestion from a friend or family member.[3]
  • If a firm has an excellent internet reputation, people are prepared to spend 22% extra on a product or service.[3]
  • 97% of review readers will also read your review answers.[3]
  • Almost 40% of consumers say they merely want an apology from a company after submitting a negative review.[3]
  • People spend roughly half as much money with companies that respond to internet evaluations.[3]
  • After a poor encounter, customers are 21% more likely to post a review than after a favorable one.[3]
  • It takes around 40 positive encounters to offset the impact of a single bad review.[3]
  • 86% of consumers are hesitant to buy from a company that has unfavorable internet ratings.[3]
  • Consumers can spend up to 5x longer on a website after interacting with negative reviews.[3]
  • Allowing customers to read your negative reviews can result in an 85% boost in conversion rate.[3]
  • 96% of dissatisfied customers will not bother to submit a negative review.[3]
  • 67% of consumers who submit negative reviews will return if their review is promptly addressed.[3]
  • More than half of customers want firms to reply within a week to unfavorable evaluations.[3]
  • Customers are 31% more inclined to spend more money at a firm that has “great” evaluations.[3]
  • Although 58% of CEOs feel that online reputation management should be handled, just 15% take action.[4]
  • 84% of marketers say that developing trust will be the key focus of future marketing efforts.[4]
  • 31% of working internet users have looked up information about coworkers, professionals, colleagues, or business competitors online.[4]
  • As part of their employment, 12% of employed persons think they must advertise themselves online.[4]
  • Only 14% of customers believe in advertising, but 78% trust peer recommendations.[4]
  • According to World Economic Forum research, more than a quarter of a company’s market value is directly due to its reputation.[4]
  • 87% of CEOs consider reputation risk management to be more critical than other strategic risks.[4]
  • When it comes to reputation management, customers are the most essential stakeholders.[4]
  • 41% of businesses that had a bad reputation incident reported a decrease in brand value and income.[4]
  • When looking for a home service provider, 74% of customers use Yelp.[4]
  • 86% of customers are willing to pay more for services provided by a firm with higher ratings and evaluations.[4]
  • Because of internet material, 70% of companies did not hire an applicant.[4]
  • 85% of buyers conduct online research before making a purchase.[4]
  • Facebook is used by 80% of college admissions departments to evaluate and attract applications.[4]
  • A one-star rating increase on Yelp might result in a 5% to 9% increase in restaurant sales.[4]
  • 83% of purchasers no longer believe in advertising, yet the majority trust internet user recommendations.[4]
  • 70% of disgruntled clients will do business with you again if the issue is resolved in their favor.[4]
  • Customers aged 18 to 29 are more likely to utilize a brand’s social media site for customer support interactions (43%) than for marketing (23%).[4]
  • 74% of customers rely on social media to help them make purchasing decisions.[4]
  • 39% of Facebook users like brand pages in order to investigate various items.[4]
  • If the purchasing experience is not optimized for mobile, 30% of mobile customers abandon a transaction.[4]
  • When companies provide an excellent mobile experience, 61% of customers have a favorable perception of them.[4]
  • 70% of clients prefer to learn about a firm through articles rather than marketing.[4]
  • 87% of CEOs consider reputation risk management to be more critical than other strategic risks.[5]
  • 86% of consumers would pay extra for services from a firm that has more positive ratings and reviews.[5]
  • Before making a purchase, 85% of shoppers conduct online research.[5]
  • 83% of purchasers no longer believe in advertising, yet the majority trust internet user recommendations.[5]
  • 84% of all marketers say that developing customer trust will be the key goal of marketing in the foreseeable future.[5]
  • Online reviews are valued by 84% of people as highly as personal recommendations.[5]
  • Before making a business decision, 59% of individuals check at 2-3 review sites.[5]
  • While Google reviews are the most popular review source, with 63% of users citing them, the Better Business Bureau (BBB) is the most trustworthy online review platform.[6]
  • In 2020, 72% of US customers reported having published an internet review, a 6% increase over 2019.[6]
  • 63% of internet users have left good feedback.[6]
  • 32% of internet users have left a negative review.[6]
  • Only 48% of internet consumers would consider patronizing a service with fewer than four ratings, and only 19% would consider a firm with fewer than three stars.[6]
  • 73% of buyers say they only read reviews written in the past month, and 50% say they only read reviews posted in the recent two weeks.[6]
  • 75% of people think they will trust a brand more if it has favorable internet reviews.[7]
  • 60% of people will not buy from a brand if there are bad internet reviews.[7]
  • Online reviews are trusted by 85% of buyers as much as personal recommendations from friends.[7]
  • 73% of consumers feel that reviews older than three months are untrustworthy.[7]
  • The typical consumer will only believe a brand’s reviews if there are more than 40.[7]
  • An average star rating of 4.2 to 4.5 is the sweet spot for review success.[7]
  • Before making a purchase choice, customers will read an average of 7 reviews.[7]
  • Before contacting a business, 87% of customers will study internet reviews.[7]
  • 53% of consumers want companies to reply to their evaluations, which is made simpler by the fact that they can do it online.[7]
  • 83% of consumers who now prefer reviews do not trust advertising.[7]
  • If a company asks, 70% of customers will submit a review.[7]
  • Every day, 87% of customers use an internet comparison shopping site.[7]
  • According to World Economic Forum research, more than a quarter of a company’s market value is directly due to its reputation.[8]
  • According to Jobvite, Capterra, and Career Profiles statistics and survey findings, 95% of recruiters depend on social media information in their recruitment efforts.[8]
  • According to Mckinsey, 87% of individuals compare prices for every purchase they make, and they shop across several channels.[8]
  • Online, 97% of clients learn more about local companies than any other source.[9]
  • When selecting new technology, 91% of SMD owners believe that a vendor’s reputation is critical.[9]
  • 81% of shoppers aged 18-34 believe buyer reviews found online.[9]
  • According to online review data, 89% of consumers read firms’ answers to comments.[9]
  • If they suspect phony reviews, 54% of shoppers will not purchase a product.[9]
  • Customers will spend up to 31% more money on a company with positive evaluations.[9]
  • By the end of 2026, the market for online reputation management is estimated to be worth $491.32 million.[9]
  • The cost of reputation management can range from $300 to $50,000 per month on average.[9]
  • For 99% of Google searches, Wikipedia appears on Page 1.[10]
  • On Google, the click-through rate for page two results is less than 2%.[10]

Also Read

How Useful is Online Reputation Management

One of the key benefits of online reputation management is that it allows individuals and businesses to monitor and control the narrative about themselves online. With a quick Google search, anyone can find information about a person or company, and first impressions are often formed based on online reviews and comments. By actively managing one’s online reputation, it is possible to highlight the positive aspects and mitigate potential damage from negative feedback.

Furthermore, online reputation management can help build credibility and trust with potential customers or employers. A strong online presence that showcases positive reviews, testimonials, and endorsements can help create a positive perception of a person or business. This can lead to more opportunities and better relationships with clients or customers.

Another advantage of online reputation management is the ability to respond and address any negative feedback or criticism promptly. By engaging with negative reviews or comments in a professional and respectful manner, it is possible to turn a potentially damaging situation into a positive one. Addressing issues head-on shows transparency and a willingness to improve, which can help mitigate the impact of negative feedback.

Moreover, online reputation management can help in crisis situations. In the age of viral social media, a negative incident or controversy can quickly escalate and damage a person or company’s reputation. By having a strategy in place to manage online reputation, it is possible to contain the fallout and protect one’s image in the face of adversity.

Despite the clear benefits of online reputation management, it is not without its challenges. The digital landscape is constantly evolving, and staying on top of online reviews, comments, and mentions can be a daunting task. It requires constant monitoring and attention to detail to ensure that one’s online reputation remains positive and accurate.

Additionally, online reputation management may not always yield immediate results. Building a strong online reputation takes time and effort, and it may require a long-term commitment to see significant improvement. It is important to be patient and consistent in one’s efforts to maintain and enhance online reputation.

In conclusion, online reputation management is a valuable tool for individuals and businesses to monitor, control, and build their online presence. By actively managing online reputation, it is possible to create a positive narrative, build credibility and trust, address negative feedback, and navigate crisis situations effectively. While it may require time and effort, the benefits of online reputation management far outweigh the challenges, making it an essential aspect of managing one’s online identity in today’s digital world.

Reference

  1. reputationx – https://blog.reputationx.com/online-reputation-management-statistics
  2. businessnucleus – https://businessnucleus.com/reputation-management/
  3. localiq – https://localiq.com/blog/online-review-stats/
  4. nusani – https://nusani.com/50-shocking-stats-online-reputation-management-infographic/
  5. review42 – https://review42.com/resources/online-reputation-management-statistics/
  6. statuslabs – https://statuslabs.com/reputation-management-stats-2022/
  7. thrivemyway – https://thrivemyway.com/reputation-management-stats/
  8. webinarcare – https://webinarcare.com/best-online-reputation-management-software/online-reputation-management-statistics/
  9. writersblocklive – https://writersblocklive.com/blog/reputation-management-statistics/
  10. allbusiness – https://www.allbusiness.com/why-wikipedia-can-be-a-dangerous-reputation-management-tool-6923-1.html

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