“You HAVE to try this.” – 5 words that are sure to spark immediate interest in anyone.
Whether it’s a TV show, a new restaurant, or a product, when things come recommended we are more likely to try them. And that’s why testimonials are so powerful for businesses, big and small.
Here are 30 stats that prove the power of testimonials…
The power of testimonials – 30 stats
Consumers LOOK for testimonials
One of the greatest forms of proof when it comes to the power of testimonials is that customers actually seek them out.
Customers of today have access to a wealth of information at their fingertips (thanks to smartphones!), so they’re much more informed when it comes to making purchasing decisions.
Reading and watching testimonials has become a natural part of the buyer journey. Therefore, by ensuring your company has several testimonials that are viewable either on your website or through external sites (like social media and Google) you can increase your chances of winning new customers.
#1 – 92% of consumers read online reviews and testimonials when considering a purchase. (Vendasta)
#2 – 81% of buyers generally conduct research before bringing in a vendor (Content Marketing Institute and SmartBrief)
#3 – 95% of people say that reviews – whether positive, or negative – influence their purchasing decisions. (Wyzowl)
#4 – 56% of people find customer testimonials helpful. (Animoto)
#5 – 90% of buyers who read positive customer success content claimed that it influenced their purchasing decisions. (Dimensional Research)
#6 – 63% of consumers indicate that they are more likely to purchase from a site if it has product ratings and reviews. (Search Engine Journal)
Marketers swear by testimonials
Unsurprisingly, marketers think testimonials are just as great as customers do.
Customers’ shopping habits change all of the time, and it can be difficult for marketers to know what customers are going to react best to, and where to spend their precious budget.
Testimonials make for an (almost) fool-proof tactic because they usually involve previous, happy customers (who are more than willing to share their experiences through testimonials, particularly if there is some kind of incentive) reassuring potential customers of their great experience.
This is much more compelling and trustworthy than anything a brand can say about itself.
#7 – Customer testimonials have the highest effectiveness rating for content marketing at 89%. (Social Fresh)
#8 – Customer testimonials and case studies are considered the most effective content marketing tactics, identified by 89% and 88%, respectively, of B2B marketers. (B2B Content Marketing Trends Report)
#9 – Reputation makes up over 25% of a brand’s market value (Deloitte)
#10 – 89% of marketers say that customer testimonials and case studies are the most effective content forms for influencing purchases. (Webdam)
#11 – The regular use of testimonials can help you generate 62% more revenue from every customer, not just once, but every time they visit your site. (BigCommerce)
Testimonials increase trust
It all comes down to this. Trust is at the root of the power of testimonials. As mentioned above, testimonials can instill trust in potential customers because they are hearing from people like them – their peers – rather than the company that is trying to sell them something.
Before the rise of the internet, recommendations from close family and friends influenced the purchasing decisions of shoppers. With the introduction of social media and online shopping, this ‘word-of-mouth’ marketing also moved online.
And now, customers are happy to trust the testimonials of strangers online just as much as they trust recommendations from family and friends.
#12 – 88% of consumers trust online reviews as much as personal recommendations. (Search Engine Land)
#13 – 97% of B2B buyers feel that user-generated content like consumer reviews are more credible than other types of content. (Demand Gen)
#14 – 92% of people will trust a recommendation from a peer, and 70% of people will trust a recommendation from someone they don’t even know. (Nielsen)
#15 – 9 out of 10 people say they trust what a customer says about a business more than what that business says about itself. (Wyzowl)
#16 – 83% of customers don’t trust advertising. (Status Labs)
#17 – 91% of millennials trust online reviews as much as friends and family.
#18 – 92% of consumers trust peer recommendations. (Search Engine Watch)
#19 – 88% of people trust online reviews written by other consumers as much as they trust recommendations from personal contacts. (BrightLocal)
Testimonial videos are preferable
We’ve already established that consumers love testimonials and actively search for them, but did you know that people also love video?
Video is a popular form of content with consumers because it makes it easy to digest information and is much more memorable than other forms of content.
When it comes to testimonials, a video allows potential customers to see the emotion conveyed in the expressions of your past customers. They are able to see someone they identify with and connect with their story – making your testimonials all the more powerful.
#20 – 79% of people have watched a video testimonial to find out more about a company, product or service. (Wyzowl)
#21 – 2 out of 3 people say they’d be more likely to make a purchase after watching a testimonial video demonstrating how a business, product or service had helped another person like them. (Wyzowl)
#22 – 59% of executives would rather watch a video than read text on the same topic. (Wordstream)
#23 – 37% of people believe testimonial videos are effective because they’re more authentic than a business’ own pitch. (Wyzowl)
#24 – 47% of people say testimonial videos are effective because they help visualise how a product or service actually works. (Wyzowl)
#25 – 39% of people say testimonial videos are effective because they help illustrate the impact a product or service can have on their life. (Wyzowl)
#26 – 42% of people say testimonial videos are effective because they showcase an actual person and help the viewer understand their story. (Wyzowl)
Interested in creating video testimonials from your customers? Get in touch! We offer video testimonial creation as a service – we do all the hard work and give you the final video testimonial files at the end of the process. See more about this on our video testimonials page.
Testimonials are the last push needed for conversion
More conversions = more sales, more customers, and more profit. And yet, so many carts are abandoned and leads go cold as would-be customers change their minds at the last minute. A great testimonial has the power to stop this from happening.
A testimonial that shows potential customers the value of your product or service, and how your brand has helped other people just like them, can be the last push that is needed to encourage a visitor to convert into a customer.
#27 – 64% of people say that a testimonial video has played a part in convincing them to buy a product or service. (Wyzowl)
#28 – 72% of customers don’t take action until they have read reviews (Testimonial Engine)
#29 – Displaying reviews for higher-priced products can increase conversion rates by 380% (Spiegel Research Center)
#30 – Testimonials can increase conversions on sales pages by as much as 34%. (VWO)
Testimonials are a great way to market your brand, product, or service to new customers. It allows people to view your brand from the perspective of people like them and instills more trust in potential customers.
For more on the power of testimonials, take a look at our article: 7 Testimonial video success stories.