We are about 10 years into online business reviews era and a new large study by Womply is giving us better insights to how online business reviews can impact your business. Do you stress over getting 5-star reviews. The latest findings say that review are important, but they also tell us 5-stars isn't everything.
Did you know a 5-star rating is actually NOT associated with the highest revenue for small businesses? In fact, 5-star businesses actually earn less on average. Why? There could be many factors, but the most likely is that when a customer sees dozens of five star ratings with no 4 or 2 star ratings then they become suspicious. No business should have a customer not have any complains. The star-rating sweet spot for revenue is between 3.5 and 4.5 stars, according to Womply’s study. But even businesses that average 35-50% negative reviews earn nearly the same as the average business.