Here are some statistics you won't want to miss.
We have compiled some astounding statistics about online marketplaces, social media, and consumers. We have included every source.
It is our aim at Ormosis to provide our clients with a one-stop-shop for all things related to brand trust and credibility. We specialize in guerrilla marketing services and online reputation management. Our ultimate goal is to develop, preserve or restore your online reputation.
Reviews are the foundation of
every successful business.
Some staggering statistics about online reviews.
Higher conversion rates.
Y Axis Value: Conversion Rates
The Y Axis value represents the Conversion Rate, which is the number of goal achievements (orders, subscriptions etc.) divided by the number of visitors. In other words, that's your sales.
The Bottom Line: More Reviews = Higher Conversion Rate
With more reviews, the conversion rate raises dramatically. The study shows how there is not a limit to the amount of reviews and their benefit for a business. As the reviews count raises, the conversion rate does too. [Source]
52% of consumers will not buy if the business has less than a 4 star rating.
[Source: Brightlocal]
89% of customers won’t take action before they read one or more reviews.
[Source: My Testimonial Engine]
A one-star increase in rating can lead to a 5% to 9% increase in revenue.
[Source: Harvard Business School]
More than 4 negative reviews about a company or product may decrease sales by 70%.
[Source: Martech Zone]
70% of consumers need to read at least four reviews before they can trust a business.
[Source: Brightlocal]
9 people out of 10 need less than ten reviews to form an opinion about a business.
[Source: Martech Zone]
15% of users don’t trust businesses without reviews.
[Source: Statuslabs]
Customers could spend 31% more on a business with great reviews.
[Source: Martech Zone]
Better organic search rankings.
Reviews play a key role in search engine rankings
In fact, reviews are so important that even Google mentions how they can improve business visibility. Search engines like Google consider review quantity, diversity, velocity, and quality.
Negative feedback seriously harms your rankings
According to Moz, one of the main authorities in search engines analysis, found out that negative sentiment is one of the ranking factors that Google considers when determining where to place you in the search engines. [Source]
The Bottom Line: Positive Reviews = Higher rankings
Through sentiment analysis, Google knows when your customers are happy and rewards you with higher rankings. That is the reason why review signals amount for 15.4% of ranking factors for local Google searches.
9 customers out of 10 read reviews before purchasing.
Recent surveys show that 95% of consumers read online reviews before purchasing
This astonishing percentage is constantly raising year by year. These figures are likely even higher for digital products. It's not absurd to think that soon every single customer will read online reviews before buying anything. [Source]
83% of online customers believe reviews must be relevant and recent in order for them to be trustworthy
Surveys show how majority of customers not only read reviews, but carefully inspect them looking for red flags or reasons to buy. This is especially true with people under 40, but the habit quickly spreading to every age group. [Source]
The Bottom Line: Better Reviews = More Sales
When a customer does a research about your business, the first thing he does is reading your reviews. Since one single negative review can be a deal breaker, it's essential to ensure there is always a constant flow of positive reviews.
58% of consumers would travel further for companies with positive reviews
[Source: Podium]
82% of consumers visit review sites when they are ready to purchase.
[Source: RevLocal]
Reviews influence 98% of buyers in the software niche.
[Source: Capterra]
Google accounts for most of reviews worldwide, followed by Facebook and Trustpilot.
[Source: Review Trackers]
"If you give people the opportunity to do
the right thing, you'll rarely be disappointed."
Pierre Omidyar (eBay's founder)
Some mind-blowing eBay statistics.
Over 100 million active users.
Y Axis Value: Active Users
The Y Axis value represents the total active users on eBay, expressed in millions. Among these users, roughly 20 millions are sellers. Majority of users are from United States.
X Axis Value: Year
The X Axis value represents the year. Lately, eBay saw at least a 7% yearly growth, which equals to at least 40 million users per year. eBay is the second biggest ecommerce marketplace in the US.
The Bottom Line: eBay is ever-growing
With more users coming every day, eBay is a great place to promote your products and increase your sales. When listing your products on eBay, people from all around the world will visit them. [Source]
About 2 billion dollars are exchanged in daily transactions.
[Source: BigCommerce]
Pierre Omidyar originally founded eBay as a hobby.
[Source: Biography.com]
In the beginning, eBay was called AuctionWeb.
[Source: Biography.com]
There are roughly 1.6 billion product listings on eBay.
[Source: eBay]
Most of eBay sellers are from the United States.
31% of eBay merchants are from USA.
That means there are over seven million American sellers. UK and Germany and respectively the second and third biggest countries, followed by China and Australia. [Source]
Negative feedback can harm your rankings
Even though eBay's algorithm ranking factors have never been shared publicly, it is widely known that neutral and negative feedback can seriously harm your product visibility.
The Bottom Line: Positive Feedback = More Sales
Positive reviews have been shown to increase conversion rates, among many other benefits. On the other hand, negative feedback on eBay can be devastating for one's business.
"What’s dangerous is not to evolve."
Jeff Bezos (Amazon's founder)
Amazon statistics that will leave you speechless.
Over 300 million active users.
Y Axis Value: Yearly sales
The Y Axis value represents the total sales on Amazon, expressed in billions. Among 300 million active users, over 2 millions are third-party sellers. Majority of users are from United States.
X Axis Value: Year
The X Axis value represents the year. Lately, Amazon saw at least a 20% yearly growth, that reached a peak of 40% in 2020. Amazon is the first biggest ecommerce marketplace in the United States.
The Bottom Line: Amazon is ever-growing
With more users coming every day, Amazon is a great place to list your products and increase your sales. When listing your products on Amazon, people from all around the world will visit them. [Source]
As of 2022, Amazon has 1.2 million employees and over 100.000 robots.
[Source: CNBC]
Amazon is the second company ever to hit the $1 trillion mark, after Apple.
[Source: The New York Times]
Amazon is the most popular online store in the United States.
[Source: Statista]
Some Amazon warehouses ship over 1 million items a day.
[Source: Curbed]
Amazon earns 49 cents of every e-commerce dollar spent in the US.
[Source: The New York Times]
Amazon is present in 14 countries and ships in more than 100 countries.
[Source: Amazon]
Inititally, Amazon was called “Cadabra” (as in “Abracadabra”).
[Source: Business Insider]
Jeff Bezos quit his job in 1994 and launched Amazon out of his garage.
[Source: Fundable]
Most of Amazon merchants are from the United States.
38% of Amazon sellers are from USA.
That means there are over one million active American sellers. UK and Germany and respectively the second and third biggest countries, followed by Italy and France. [Source]
Negative feedback can harm your rankings
Even though Amazon's A9 algorithm ranking factors have never been shared publicly, it is widely known that neutral and negative feedback can seriously harm your product visibility.
The Bottom Line: More Positive Reviews = More Sales
Positive reviews have been shown to increase conversion rates, among many other benefits. Amazon reviews can be extremely beneficial for both product visibility and conversion rates.
"One of my philosophies of building companies
is the importance of velocity."
Andrew Ng (Coursera's founder)
What you need to know regarding the digital certifications industry.
71% of individuals with one or more digital certifications reported noticeable career benefits.
Learners and workers in nearly 200 countries.
This survey involved people in 190 countries. Among all participants, only 29% declared there were no noticeable career benefits from their digital certification(s). Among these people, only 6% had more than 3 certifications.
Emerging markets have the biggest impact.
A stunning 81% of individuals reported career benefits in emerging markets. The statistic lowers down to 64% for individuals without a bachelor's degree.
The Bottom Line: Most people see real improvements
Whether you are a business owner, an employee or someone looking for a job, digital certifications can immensely help with your business. These statistics are taken from Coursera, the leading online course provider. [Source]
Online courses and certifications grew drastically during the pandemic.
[Source: Marketplace]
Over 100 million people in the US have at least one digital certification.
[Source: Coursera]
Four in ten Fortune 500 companies use or require online learning solutions.
[Source: Research]
Corporate e-learning is expected to grow by over 200% between 2022 and 2026.
[Source: Business Wire]
"The biggest risk is
not taking any risk."
Mark Zuckerberg (Meta's founder)
Over 70% of accounts with more than one million followers are verified.
The first worldwide study about verified accounts.
This study analyzed over 200.000 Instagram influencer accounts of all types and sizes. Researchers found that 73.4% of Instagram accounts with over one million followers are verified. [Source]
Most of smaller accounts are not verified.
The same study found that only 0.87% of Instagram influencer accounts with less than five thousand followers have a verification badge (also known as blue tick). The percentage gets lower as the number of followers drops.
The Bottom Line: Most reputable profiles are verified
Whether you are a business owner, an influencer or a new artist, being verified can help you reach your goals and expand. These statistics are taken from Statista, the leading company about statistics and insights. [Source]
Only a few thousands Twitter accounts are being verified every year.
[Source: Statista]
Verified accounts with less than 5k followers have a stunning 4.84% engagement rate.
[Source: Statista]
58.82% of verified Instagram accounts are owned by men, and 41.18% by women.
[Source: Statista]
Close to a third of U.S. influencer accounts have obtained a verfication badge.
[Source: Statista]
"Have a healthy disregard for the impossible."
Larry Page (Google's founder)
According to DataReportal's 2022 Global Statshot Report, nearly 6 people out of 10 use at least one social media website. The average daily time spent by each person on social media is 2 hours and 29 minutes. [Source]
Social media websites took over the entire world.
While the date about visited websites and daily time spent on social media varies among countries, all the world agrees on one simple fact: nearly everybody uses social media for a way or another.
The Bottom Line: Social media + People = $$$
Whether you are a business owner, an artist or a digital marketer, social media can expand your reach and bring sales from all around the world. Both ads and normal posts are incredible tools to reach your audience.
