B2B Services Review Platforms Statistics 2024

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Best B2B Services Review Platforms Statistics

Best B2B Services Review Platforms Statistics

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B2B Services Review Platforms Usage Statistics

37% of B2B companies reported advanced usage of campaign measurement and analytics tools, while 33% used CRM tools with advanced functions. ^[0]
A Google research estimates that up to 40% of the revenue in B2B referral businesses is influenced by the usage of mobile phones. ^[1]

B2B Services Review Platforms Market Statistics

Businesses can grow revenues between 4% and 8% above their market when prioritizing better customer service experiences. ^[2]
Reputation makes up over 25% of a brand’s market value. ^[3]
Some of the key B2B marketing strategies that companies use today are creating social media content (95%), creating blog posts or short articles (89%), sending email newsletters (81%), organizing in person events (73%), publishing videos (71%). ^[0]
79% of B2B marketers say that emailing is the most effective channel for demand generation. ^[0]
69% of B2B marketers have a documented content marketing strategy, but only 42% of B2B companies consider themselves in the “sophisticated” or “mature” phase of content marketing maturity. ^[0]
85% of B2B companies use live chat for sales and 54% use the technology for marketing. ^[0]
The most effective lead generation tactics producing the highest ROI for B2B companies were email (50%), SEO and SEM (43%), content marketing (34%), live events (32%), and social media (23%). ^[0]
The B2B ecommerce market is projected to reach a value of $20.9 trillion by 2027, at a CAGR of 17.5%. ^[0]
In 2020, 39% of B2B companies explored AI and automation, while 33% of B2B companies looked into conversational marketing through chatbots. ^[0]
Meanwhile, 25% of B2B companies plan to use marketing automation platforms in the next 12 months. ^[0]
B2B companies expect to increase their spending on digital marketing by 21%. ^[0]
Top ecommerce investments for B2B companies include the Internet of Things (48%), third party online marketplaces (48%), AI technology (47%), personalization (44%), and integration with social commerce platforms (44%). ^[0]
Despite gloom and doom, Facebook remainsthe most used platform by marketersworldwide (93%). ^[4]
Based on projections,over 50% of marketersgot on board with LinkedIn in 2021 16.2% of LinkedIn usersuse. ^[4]
“#DigitalMarketing” (47%) is the most popular marketing hashtag among #ContentMarketing Tweets, followed by “#SEO” (40%) and “#marketing” (37%). ^[4]
In Q1 2021, marketersspent 60% moreon Facebook and Instagram ads versus Q1 2020. ^[4]
Retargeting ads are the most used among marketers, with77% of B2B and B2C. ^[4]
70% of marketers say video converts better than any other medium 27. ^[5]
Other statistics on the topic B2B ECommerce Estimated B2B e. ^[6]
Only 17% of marketers use landing page A/B tests to improve conversion rates. ^[7]
64% of SEO marketers call mobile optimization an effective investment. ^[7]
Google is the world’s largest search engine and controls over 90% of the search engine marketshare. ^[8]
According to referral marketing stats,only 33% of customersbelieve in online ads. ^[9]
According to referral marketing statistics,14% of userswho land on a referral page take action. ^[9]
According to78% of marketers, referral marketing produces “good” or “excellent” leads. ^[9]
According to referral marketing stats,86% of B2B companieswith a referral program experience growth. ^[9]
Wordof mouth increasesmarketing efficiency by up to 54%. ^[9]
According to referral marketing statistics, referred customers have a37% higher customer retention rate. ^[9]
According toreferral marketing stats, referred customers can increase your profit margin by 25%. ^[9]
According to B2B marketers, the averageconversion rate for referrals is 11%. ^[9]
According to referral marketing statistics,64% of customersbelieve rewards have an impact on how much they spend. ^[9]
According to referral marketing stats, referred customers are18% more loyalthan non. ^[9]
Businesses can grow revenues between 4% and 8% above their market when they prioritize better customer service experiences. ^[10]
B2B referrals provide 30% more of leads that generate revenue for the business as compared to other marketing channels. ^[1]
With 85% of customers wanting to associate themselves with strong brands that have a good reputation and influence, referral programs provide marketing at virtually no cost. ^[1]
In 58% of the businesses, the marketing personnel becomes very involved with marketing due to referrals while its only in 15% of the businesses where they get very involved without B2B referrals. ^[1]
87% of sales marketing efforts are effective when using B2B referral marketing while only 42% of the sales marketing efforts are effective without. ^[1]
71% of sales personnel, 75% of the sales leaders and 70% of marketing personnel believe that majority of the B2B companies record a bigger conversion rate from referrals as compared to other channels. ^[1]
More than 65% of companies that have referral programs agree that referrals take a short period to generate income than other marketing techniques. ^[1]

B2B Services Review Platforms Software Statistics

Companies that have a formalized referral program or those that utilize referral tools such as software are 3 time more likely to achieve their revenue targets as compared to the companies that do not employ formalized referrals. ^[1]

B2B Services Review Platforms Latest Statistics

11min read 93% of customers read online reviews before buying a product. ^[11]
91% of 18 34 year olds trust online reviews as much as personal recommendations, and 93% of consumers say that online reviews influenced their purchase decisions. ^[11]
Nearly all consumers (97%). ^[11]
Positive reviews remain a key way for companies to sell their product, with customers willing to spend 31% more on a business with excellent reviews. ^[11]
92% of B2B buyers are more likely to purchase after reading a trusted review. ^[11]
Appearing higher in search engine rankings Online customer reviews gain more weighting (6.47%). ^[11]
It’s true that 89% of consumers read businesses’ responses to reviews, so they will be watching how you react. ^[11]
Harvard Business Review found that a bad reputation costs a company at least 10% more per hire. ^[11]
According to Google/Nielson , 93% of people who use mobile to research go on to complete a purchase of a product or service. ^[11]
49% of consumers depend on influencer reviews and recommendations, so find someone that reflects your brand and can connect with your target audience. ^[11]
Keeping abreast of the latest statistics and data, they provide 100%true and trusted insights on top IT companies and trends worldwide. ^[12]
It gives 100%true and believed bits of knowledge on top IT organizations and patterns around the world. ^[12]
If a waiter is making $15 an hour in California, do I really need to tip 20%?. ^[13]
Here’s how it could impact the economy Teladoc stock plunges more than 30% after earnings outlook slashed, massive impairment charge Advanced Search. ^[13]
Teams using Help Scout are set up in minutes, twice as productive, and save up to 80% in annual support costs. ^[2]
68% of consumers say they are willing to pay more for products and services from a brand known to offer good customer service experiences. ^[2]
For 86%, good customer service turns onetime clients into long. ^[2]
An NPS Promoter score has a customer lifetime value thatâs 600% 1,400% higher than a Detractor. ^[2]
89% of consumers are more likely to make another purchase after a positive customer service experience. ^[2]
93% of customers are likely to make repeat purchases with companies who offer excellent customer service. ^[2]
If the companyâs customer service is excellent, 78% of consumers will do business with them again after a mistake. ^[2]
Increasing customer retention rates by just 5% can increase profits by between 25% and 95%. ^[2]
Consumers who rate a companyâs service as âgoodâ are 38% more likely to recommend that company. ^[2]
83% of customers agree that they feel more loyal to brands that respond and resolve their complaints. ^[2]
80% of companies use customer satisfaction scores to analyze customer experience and improve it. ^[2]
72% of companies believe they can use analytics reports to improve the customer experience. ^[2]
This is a 16.9% yearover year increase from its value of $6.5 billion in 2019. ^[2]
58% of American consumers will switch companies because of poor customer service. ^[2]
65% of customers said they have changed to a different brand because of a poor experience. ^[2]
After more than one bad experience, around 80% of consumers say they would rather do business with a competitor. ^[2]
(Nearly 80% will forgive a bad experience if they rate the service team as âvery good.â). ^[2]
78% of customers have backed out of a purchase due to a poor customer experience. ^[2]
60% of customers define âimmediateâ as 10 minutes or less. ^[2]
More than 70% of consumers believe that companies should collaborate on their behalf so they donât have to repeat information to different representatives. ^[2]
90% of consumers worldwide consider issue resolution as their most crucial customer service concern. ^[2]
70% of customers report that technology makes it simple to take their business to a competitor if needed. ^[2]
90% of Americans use customer service as a factor in deciding whether or not to do business with a company. ^[2]
71% of consumers believe that a quick response from a service team can drastically improve their customer experience. ^[2]
Almost 90% of customers report trusting a company whose service they rate as âvery good.â On the other hand, only 16% of those who give an âinferiorâ rating trust companies to the same degree. ^[2]
70% of the customerâs journey is based on how the customer feels they are being treated. ^[2]
53% of shoppers believe their feedback doesnât go to anyone who can act on it. ^[2]
Nearly 90% of consumers trust a company whose service theyâve rated as âvery goodâ to take care of their needs. ^[2]
With this level of response rate, 71% of younger consumers believe that their experience is drastically improved â and it snowballs from there. ^[2]
The second exciting statistic is that more than 70% of consumers believe that companies should collaborate on their behalf. ^[2]
Read on to find some jaw dropping customer service statistics around personalization 70% of customers say service agentsâ awareness of sales interactions is fundamental to keeping their business. ^[2]
80% of customers say the experience a company provides is just as necessary as its products or services. ^[2]
63% of consumers expect businesses to know their unique needs and expectations, while 76% of B2B buyers expect the same thing. ^[2]
59% of customers believe that companies need to provide cutting edge digital experiences to keep their business. ^[2]
90% of people are more likely to trust a company if they have a firm privacy policy. ^[2]
Your online conversion rate can improve by roughly 8% when you include personalized consumer experiences. ^[2]
88% of people trust companies that vow not to share their personal information without permission. ^[2]
92% of customers appreciate companies giving them control over what information is collected about them. ^[2]
23% of businesses use social media as a tool to collect and analyze data. ^[2]
79% of customers are willing to share relevant information about themselves in exchange for contextualized interactions in which theyâre immediately known and understood. ^[2]
56% of customers donât mind sharing their personal information in exchange for better service. ^[2]
On average, customer service agents only ask for a customerâs name 21% of the time. ^[2]
After all, about 90% of customers are more likely to trust you if youâve got a stellar privacy policy. ^[2]
While 50% of customers donât share their experiences on social media, 72% will talk about them in person. ^[2]
36% of consumers will share their customer service experience, whether good or bad. ^[2]
87% of consumers read online reviews for local businesses in 2020. ^[2]
72% of customers will share their good experiences with others. ^[2]
72% of customers will tell six or more people if they have a satisfying experience. ^[2]
94% of American customers will recommend a company whose service they rate as âvery good.â. ^[2]
67% of customers report a terrible customer experience as the reason for switching businesses. ^[2]
Only 13% of consumers will recommend a company whose customer service theyâve rated as âvery poor.â. ^[2]
50% of customers say they donât share their bad or good service experiences through social media. ^[2]
33% of consumers would recommend a brand that provides a quick but ineffective response. ^[2]
78% of customers who complain to a brand on Twitter expect a response within an hour. ^[2]
13% of customers tell 15 or more people if they have a negative experience. ^[2]
79% of customers who share their complaints online see their complaints ignored. ^[2]
Only 17% of consumers would recommend a brand that provides a slow but effective solution. ^[2]
Only 1 in 26 customers will tell a business about their negative experience; according to customer service facts, the rest simply leave. ^[2]
75% of customers desire a consistent experience, regardless of how they engage a company. ^[2]
The effectiveness of bots in resolving issues has fallen to 28%. ^[2]
American consumers do not find bots effective, with 40% relying on other channels to reach out to service teams. ^[2]
64% of customers want to shop with companies that can meet their needs in real. ^[2]
64% of customer service teams use customer portals, compared to 84% of customers who use customer portals. ^[2]
A study has shown that more than 76% of all consumers prefer the traditional medium of phone calls to reach customer support representatives. ^[2]
More than 50% of customers across all age groups typically use the phone to reach out to a service team, making it the most used channel for customer service. ^[2]
63% of customer service teams use text messaging, compared to 78% of customers who use text messaging for communicating with a company. ^[2]
51% of customer service teams use mobile apps, compared to 82% of customers who use mobile apps for communicating with a company. ^[2]
28% of consumers say the most frustrating issue is information that is simple but hard to find. ^[2]
69% of consumers first try to resolve their issue independently, but less than onethird of companies offer self service options such as a knowledge base. ^[2]
66% of customer service teams use knowledge bases, compared to 82% of customers who use knowledge bases. ^[2]
79% of American internet users are on Facebook, making it the most popular social media platform. ^[2]
95% of adults between the ages of 18 34 are likely to follow a brand through social media channels. ^[2]
52% of customer service teams use online chat or live support, compared to 81% of customers who use online chat or live support for communicating with a company. ^[2]
Nearly 70% of customers are irritated when their call is transferred from one department to another. ^[2]
33% of customers are most frustrated by having to wait on hold, and 33% are most frustrated by having to repeat themselves to multiple support reps. ^[2]
70% of unhappy customers whose problems are resolved are willing to shop with a business again. ^[2]
Nearly 60% of customers feel that long holds and wait times are the most frustrating parts of a service experience. ^[2]
62% of customers would prefer to âhand out parking ticketsâ than wait in an automated phone tree for service or have to repeat themselves multiple times to different team members. ^[2]
35% of customers have become angry when talking to customer service. ^[2]
27% of Americans report that ineffective service is their number one customer service frustration. ^[2]
12% of Americans rate their number one service frustration as âlack of speed.â. ^[2]
72% of customers say that explaining their problems to multiple people is poor customer service. ^[2]
79% of consumers who used online feedback to complain about a poor customer experience were ignored. ^[2]
84% of customers report that their expectations had not been exceeded in their last interaction with customer service. ^[2]
78% of customers have given up on a transaction because of a negative customer experience. ^[2]
67% of customers end a call in frustration when they cannot reach a customer service representative. ^[2]
88% of highperforming service decision makers are investing significantly in agent training compared to only 57% of underperformers. ^[2]
83% of high performing service agents say they get the training they need to do their job well compared to only 52% of underperformers. ^[2]
69% of high performing service agents actively look for situations to use artificial intelligence compared to only 39% of underperformers. ^[2]
A whopping 95% of consumers say that customer service is essential for brand loyalty, and 60% of consumers report having deserted a brand and switching to a rival company because of poor customer service. ^[2]
Call center statistics have placed it as high as 45%!. ^[2]
31% of consumers consider a knowledgeable agent to be the most crucial factor for a positive customer experience. ^[2]
Since 77% of consumers consider the difficulty of reaching an agent to be the biggest issue with customer service today, itâs worth investing in resolving it. ^[2]
89% of companies with âsignificantly above averageâ customer experiences perform better financially than their competitors. ^[2]
24% of consumers keep doing business with vendors for two or more years after a positive encounter. ^[2]
64% of U.S. consumers contacted customer service in 2017. ^[2]
73% of customers say they stay loyal to brands because of friendly customer service agents. ^[2]
73% of customers fall in love with a brand because of friendly customer service representatives. ^[2]
Thatâs between $30k and $45k in expenses for losing employees who were likely doing an excellent job. ^[2]
The typical level of difficult calls ranges from 10% to 20%, but the pandemic made customer experience statistics worse. ^[2]
The average company saw the percentage of calls scored as âdifficultâ by reps increase by more than 100%. ^[2]
Some of the companies in the study saw hold times grow by 34% and escalations increase by more than 68%, further highlighting the impact customer service has on businesses. ^[2]
One of the Tethr AI study companies provided customer service statistics that showed difficult interactions had a 6% chance of resulting in an upsell or cross. ^[2]
The chances are usually 80% when the customer service experience is excellent. ^[2]
Only about 4% of customers who leave or threaten to leave are enticed to stay by accepting a promo, down from the average of 20% in the past. ^[2]
About 95% of customers read reviews before making a purchase. ^[3]
93% of customers will read reviews of local businesses to determine its quality. ^[3]
72% of customers won’t take any buying actions until they’ve read reviews. ^[3]
92% of B2B buyers are more likely to purchase after reading a trusted review 5. ^[3]
For every one star increase that a business gets on Yelp, they see a 5 9% increase in revenue. ^[3]
When a product gets five reviews, the likelihood of it being purchased increases by 270%. ^[3]
When higher priced items display reviews, the conversion rate increases by 380%. ^[3]
If a business has more than nine current reviews, they earn 52% more revenue than the average. ^[3]
If a business has more than 25 current reviews, that increases to 108%. ^[3]
Businesses that claim their free listings on at least four review sites earn an average of 46% more revenue. ^[3]
Purchase likelihood increases by 15% when buyers read verified reviews over anonymous reviews. ^[3]
Reviews make customers 71% more comfortable purchasing a product. ^[3]
Customers spend 31% more when a business has positive reviews. ^[3]
91% of customers from the ages of 18 to 34 trust online reviews just as much as personal recommendations. ^[3]
92% of customers trust peer recommendations. ^[3]
73% of customers place more value on the written review, rather than the star rating. ^[3]
About 85% of consumers consider any review older than three months to be irrelevant. ^[3]
Reviews account for about 15% of the method Google uses to rank local businesses. ^[3]
About 50% of consumers need to see at least a 4 star rating to consider a business. ^[3]
54% of consumers visit a local business’ website after reading a positive review. ^[3]
67% of B2B buyers want to see a mix of both positive and negative reviews when checking out a business. ^[3]
75% of businesses don’t even respond to their reviews. ^[3]
Businesses that respond to just one customer review earn 4% more revenue on average. ^[3]
When a business replies to at least 25% of their online customer reviews, on average, they earn 35% more revenue. ^[3]
To out do your competitors, you need to respond to at least 30% of your reviews. ^[3]
People spend around 49% more money at businesses that respond to their customer reviews. ^[3]
53% of customers expect a business to reply to their online review within seven days. ^[3]
41% of customers say that when brands reply to their online reviews, it makes them feel the company really cares about their customers. ^[3]
Not replying to customer reviews puts companies at risk of increasing churn by 15%. ^[3]
89% of consumers read replies to reviews. ^[3]
On average, 19% of reviews a business receives are negative. ^[3]
82% of customers actively seek out negative reviews. ^[3]
Negative reviews can stop an average of 40% of buyers from wanting to buy from a business. ^[3]
Businesses whose total number of reviews are 1520% negative actually average 13% more revenue than businesses whose total number of reviews are 5. ^[3]
72% of B2B buyers say negative reviews give depth and insight into a product. ^[3]
40% of B2B buyers say negative reviews help build credibility for a product. ^[3]
95% of customers get suspicious of a rating if there are no negative reviews. ^[3]
About 75% of customers are willing to answer anywhere from one to five survey questions. ^[3]
68% of consumers have left a review for a local business after being asked to do so. ^[3]
Up to 80% of reviews originate from follow up emails urging shoppers to review their purchases. ^[3]
83% of people think a business with a user generated review on their landing page is trustworthy. ^[3]
76% of consumers are more likely to trust content shared by their peers rather than content shared by brands. ^[3]
66% of buyers use sources outside of vendor materials during the research phase. ^[3]
78% of customers who read reviews were satisfied with their purchase. ^[3]
B2B digital sales in all channels grew by 10.9% in 2019. ^[0]
61% of B2B transactions start online. ^[0]
According to 86% of B2B CMOs, customer experience will be more critical in the industry in the coming years. ^[0]
The five most important factors for B2B buyers evaluating solutions providers were features or functionalities (73%), pricing (72%), reviews (59%), deployment time or ease of use (56%), and the provider’s ability to solve a pain point (47%). ^[0]
Focusing on the customer experience, starting from front end sales to ongoing support, can increase revenue by 5% to 10%. ^[0]
91% of executives say that they expect their business partners to play a more significant role in their operations. ^[0]
According to 60% of organizations, external parties influenced 35% of their annual revenue. ^[0]
63% of B2B enterprises have collaborated with start ups and digital ventures to improve their operations. ^[0]
6% of companies in the B2B industry are putting more effort into building their network. ^[0]
19% of B2B companies considered in person events to be the most effective strategy for securing leads. ^[0]
In person events were also effective at converting leads for 25% of B2B companies. ^[0]
86% of buyers often feel overwhelmed when given more than ten types of sales content while 42% feel overwhelmed when given more than five. ^[0]
81% of early stage B2B buyers find listicles most relevant, while 72% prefer infographics and 66% enjoy blogs. ^[0]
Meanwhile, 58% of mid stage buyers want to see assessments, 50% want webinars, and 40% are most interested in case studies. ^[0]
Additionally, late stage buyers prefer case studies (39%) and user reviews (38%). ^[0]
36% of these buyers also find user reviews relevant. ^[0]
76% of B2B buyers have increased expectations around personalized and tailored solutions to their specific needs. ^[0]
97% of B2B buyers expect vendor websites to have content relevant to their company, and 96% considered it important for vendor websites to directly address industry needs and demonstrate expertise. ^[0]
Likewise, 97% of B2B buyers said it was important that vendor websites provided easy access to content. ^[0]
Providing personalized website experiences can increase sales by 19%. ^[0]
Close to 70% of the B2B buyer’s journey is completed before a prospect ever reaches out to sales. ^[0]
48% of B2B buyers rely on vendor websites when doing research for purchase decisions and doing ROI analysis. ^[0]
77% of B2B buyers report spending more time on research for purchase decisions compared with 2019. ^[0]
53% of B2B buyers use social media as a resource during the buying process. ^[0]
More B2B buyers are speaking to sales reps earlier in the buying process, with 42% of buyers speaking to sales reps in the first month, compared to 33% in 2018. ^[0]
However, another study reports that 25% of millennial B2B buyers rely on search when doing research at the beginning of the buying process. ^[0]
B2B sales statistics revealed that 54% of agents find contacting prospects more difficult now than five years ago. ^[0]
A minimum of 50% of your initial prospects don’t require the products or services you offer. ^[0]
90% of decision makers don’t respond to cold outreach. ^[0]
B2B ecommerce is predicted to make up more than 12% of the overall B2B revenue by 2020. ^[0]
B2B ecommerce statistics reveal that the majority of buyers now place their orders via websites (80%), email (77%), or mobile phone (72%). ^[0]
80% of B2B buyers use mobile phones at various points of the buying process. ^[0]
At the top of the list are credit cards (94%), checks (51%), purchase orders (50%). ^[0]
Mobile wallets (26%). ^[0]
64% of B2B companies plan to increase their investments in ecommerce websites. ^[0]
35.6% of B2B companies expect an increase of up to 75% in online sales from B2B buyers. ^[0]
30% of B2B companies are expected to start using AI by the end of 2020. ^[0]
50% of high tech B2B sales are expected to come from digital channels by 2020. ^[0]
25% of B2B enterprises are expected to adopt AR technology by 2024. ^[0]
84% of B2B companies do not know about their partners’ pipelines. ^[0]
Businesses that cultivate partner relations with lead generation and coaching are 63% more likely to accomplish their revenue goals. ^[0]
74 % of B2B vendors that implement Partner Relationship Management say that they have more visibility into their partners’ pipelines. ^[0]
68% of B2B vendors believe that customer data management will drive growth for their business. ^[0]
67% of vendors say that insightful analytics has the potential to drive the B2B ecosystem in the future. ^[0]
19% of B2B companies say that social listening is an increasingly important tool for them. ^[0]
More than 80% of B2B companies no longer follow calendarized buying cycles. ^[0]
77% of B2B buyers say that their last purchase was complex or difficult. ^[0]
According to 68% of B2B buyers, the length of the purchase cycle has increased. ^[0]
75% of B2B buyers agree that their purchases were a collective effort of people from a wide variety of locations, teams, and roles. ^[0]
61% of B2B buyers say that the number of stakeholders involved in a purchasing decision had increased. ^[0]
The average conversion rate for B2B wholesale buyers is 10%. ^[0]
A research study by Bloomreach, for instance, found that 28% of B2B companies have needed to significantly downsize and lay off employees. ^[0]
Likewise, B2B companies in the segments of personal services (60%), education (52%), wholesale (46%), and manufacturing (46%). ^[0]
47% of businesses have experienced budget related difficulties, such as freezes on budgets and purchases. ^[0]
30% of B2B companies have escalated purchases as the pandemic forced business needs to change. ^[0]
90% of B2B executives and decision makers believe that remote, digital sales methods will be part of the new normal. ^[0]
97% of B2B buyers claim that they’re willing to make a purchase in an endtoend, digital self. ^[0]
Only 20% to 30% of B2B buyers are willing to interact with reps faceto face even after the pandemic. ^[0]
The majority of B2B companies 81% believe that their sales teams need additional training as well as technology to be effective at remote selling. ^[0]
Similarly, 83% of B2B companies plan to introduce a more flexible sales process to adjust to the new normal. ^[0]
TikTok is the fastest growing social network with a staggering105% user growth ratein the US over the past two years. ^[4]
Instagram sits in second place (78%). ^[4]
Facebook is responsible fora quarter of(25%) versus Google (28.9%), Amazon (10.3%) and others (35.6%). ^[4]
Instagram dominates social streaming services in terms of engagement . ^[4]
Engagement rates on Instagram are approximately more thansix times higherthan those on Facebook (0.83% to 0.13%). ^[4]
Instagram Stories (83%) and grid posts (93%). ^[4]
Uses of the “#ad” tag on Instagramdecreased 17% over the past yearamong influencers. ^[4]
44% of usersshop for products on Instagram weekly . ^[4]
Linkedin ad revenue recently exceeded$1 billion in 2021, growing by 37% while organic session engagement grew by a record 22%. ^[4]
the platform daily (versus 48.5% that log in monthly). ^[4]
LinkedIn has one of the highestearning and most educated bases on social media —51% college educatedwith half of users earning more than $75,000 annually. ^[4]
earn53% more engagementand twice the CTR of employee. ^[4]
52% of Twitter usersuse the platform daily (versus 84% that use it weekly). ^[4]
Twitter’s US advertising revenue totaled $647 million in Q3 2021, anincrease of 51% YoY(and up 98% from the previous quarter). ^[4]
Shoppers on Pinterest have85% larger shopping cartsthan buyers on other platforms. ^[4]
According to the platform themselves,7 in 10 Pinnerssay that Pinterest is their go to place to find products or services they can trust. ^[4]
are40% more likelyto say they love shopping. ^[4]
62% of TikTok userssay that platform specific branded content is the best way to connect to customers. ^[4]
39% of Gen Z consumerssay that their purchasing decisions are influenced directly by what they see on TikTok. ^[4]
TikTok sawthe largest increasein planned new platform investment for brands in 2024 (84%) versus YouTube (66%) and Instagram (64%). ^[4]
Influencers withless than 5k followerssee the highest engagement rates on TikTok (17.9%) vs macro influencers with up to 1 million followers (13.48%). ^[4]
Social media recently overtook paid search as an advertising channel,growing 25% YoYand exceeding $137 billion. ^[4]
Social media usersoverwhelmingly trust other usersas their “preferred” form of influencer, most likely to buy from them based on a product recommendation (37%) versus celebrities (7%). ^[4]
Privacy and data protection are “extremely impactful” and important to52% of social media users. ^[4]
92% of customers read online reviews before buying 2. ^[5]
72% of consumers say positive testimonials and reviews increase their trust in a business 3. ^[5]
70% of people trust reviews and recommendations from strangers 4. ^[5]
88% of consumers say reviews influence their online purchasing decisions. ^[5]
88% of consumers trust online testimonials and reviews as much as recommendations from friends or family 6. ^[5]
97% of B2B customers cited testimonials and peer recommendations as the most reliable type of content. ^[5]
86% of customers said online reviews were at least “moderately important” when they were shopping for a new product. ^[5]
72% of consumers will take action only after reading a positive review. ^[5]
73% of consumers read six or fewer reviews before making a decision 10. ^[5]
12% of consumers read more than 10 reviews 11. ^[5]
50 or more reviews on multiple products pages can increase conversions by 4.6%. ^[5]
Using customer testimonials regularly can generate approximately 62% more revenue. ^[5]
Customer testimonials placed alongside more expensive items increased conversion rates 380% 16. ^[5]
Yelp rating by one star can increase revenue by 5. ^[5]
On average, testimonials on sales pages increase conversions by 34% 18. ^[5]
Customers who interact with reviews are 58% more likely to buy 19. ^[5]
Customers who interact with reviews spend 3% more on average per order. ^[5]
Websites using testimonials saw a 45% increase in traffic compared to those who didn’t 21. ^[5]
Listing 10 or more reviews increased traffic 15 to 20% on Google Business listings 22. ^[5]
Improving star ratings from 3 to 5 stars can increase clicks on Google up to 25% 23. ^[5]
Businesses with 5 stars earned 69% of total clicks amongst top Google listings 24. ^[5]
Reviews account for 9.8% of total search engine ranking factors. ^[5]
79% of consumers have watched a video testimonial to learn more about a company, product or service 26. ^[5]
90% of users say that seeing a video about a product is helpful for making decisions. ^[5]
2/3 of consumers say they’re more likely to make a purchase after watching a testimonial video demonstrating how a business, product or service helped someone like them. ^[5]
47% of people say testimonial videos are effective because they help visualize how a product or service actually works. ^[5]
Consumers are 27.4 times more likely to click online video ads than banner ads. ^[5]
We defined excellence in an element as receiving a score of 8 or above on a scale of 0 to 10, and strong performance as being rated that well on six or more elements by at least 65% of decision makers. ^[14]
We found that the average NPS of strong performers was 60% higher than that of companies excelling at only one to five elements—and was several times higher than that of companies excelling at no elements. ^[14]
On average, 43% of respondents said they were highly likely to buy from them again, while just 21% were highly likely to buy again from companies receiving no excellent scores. ^[14]
The situation became critical in 2015, when revenue fell more than 20%. ^[14]
The most common review site use case for businessto business technology vendors is lead generation with 60 percent of respondents utilizing it. ^[6]
Available to download in PNG, PDF, XLS format 33% off until Jun 30th. ^[6]
Email collection forms were the most successful at converting viewers, with a 15% conversion rate in 2020. ^[7]
Events placed at the beginning of videos perform the best, with a conversion rate of 12.7%. ^[7]
3.5% of ecommerce website visits via mobile are converted into purchases, compared to 3.9% on desktop. ^[7]
Email visitors are the most likely to convert on forms — and people coming from search advertisements are the least likely. ^[7]
The highest bounce rates are on social (45%) followed by direct (44%). ^[7]
Almost 25% of companies invest in mobile optimization as a top SEO tactic. ^[7]
In fact, 91% of consumers read at least one review before purchasing a product. ^[8]
Amazon users are loyal — 22% won’t look at competitors if they discovered the product on Amazon. ^[8]
Research shows an increase of one star in your Yelp rating can increase revenue by 5. ^[8]
Nearly 10% of Google’s search algorithm is influenced by Google Reviews. ^[8]
Here’s what the results might look like According to Statista, Yahoo! still receives about 3% of search engine share. ^[8]
Localworks sure couldn’t hurt for that 3%. ^[8]
85% of consumers prefer to do business with a company that is BBB accredited. ^[8]
Roughly 90% of its users participate on a regular basis. ^[8]
92% of consumerstrust referrals from people. ^[9]
75% of Instagrammers will make a purchaseor tell a friend when they get inspired by a post. ^[9]
When referred by other customers, people have a37% higher retention rate. ^[9]
B2B companies with referrals experience a70% higher conversion rate. ^[9]
Referred customers’lifetime value is 16% higherthan that of non. ^[9]
Referralleads have a 30% higher conversion ratethan leads from any other channel. ^[9]
Referrals account for65% of companies’ new deals. ^[9]
Twothirds (66%). ^[9]
Only8% of these conversationsare “mostly negative.”. ^[9]
Word of mouth affects the purchase decision of54% of consumers. ^[9]
Excellent customer service will incite55% of consumersto recommend a company. ^[9]
Friends and family are the top sources of brand awareness for49% of US shoppers. ^[9]
59% of US shopperstrust offline recommendations while 49% consider online wordof mouth as highly credible. ^[9]
When considering the purchase of a product,84% of shopperstrust recommendations from family members, friends, and colleagues. ^[9]
In fact, 55% of online shoppers tell friends and family when dissatisfied with a product or company. ^[9]
Customers referred by a friend or other customers have a16% higher lifetime valuethan non. ^[9]
in80% of all B2B and B2Cdeals. ^[9]
Still, you would be amazed at what percentage of sales professionals ask for referrals – only 11%!. ^[9]
Referral programs in ecommerce can achieve wonders for your sales – you can increase your revenue by10% 20%for traditional products and up to 100% for emerging ones. ^[9]
43% of people are more likely to buya product if their friends recommend it on a social network. ^[9]
58% of consumersshare their positive user experiences or seek advice for a brand on social media. ^[9]
55% of peopleshare their new purchases on a social network. ^[9]
Referral advertising on social media influences71% of consumers. ^[9]
Social media referrals boost sales –59% of Pinterest. ^[9]
The same goes for 33% of Facebook users. ^[9]
Still, 79% of all followers who “liked” the page did so because of discounts or other incentives. ^[9]
Brands’ posts on social media have an impact on78% of their followers. ^[9]
67% of US shoppersare more likely to buy a product that friends or family members shared on social media or email. ^[9]
, Facebook (3.9%), and Twitter (0.7%). ^[9]
77% of consumersare more likely to buy a new product if their friends or family recommend it. ^[9]
An offline wordof mouth impression can increase your sales byat least 500%compared to a paid advertising impression. ^[9]
The average referral rate across all industries isabout 2.3%. ^[9]
The highest referral rates are for gadgets and electronic devices – 3.4%. ^[9]
A 10% rise in wordofmouth recommendations increases sales by between0.2%. ^[9]
Still, only 10% of them assigned referral campaign management to that department. ^[9]
– If you manage to achieve more than 2.3%, you can consider it a success. ^[9]
For comparison, the average conversion rate across all industries is2.35%. ^[9]
Referred leads have a30% higher conversion. ^[9]
A referral incentive program could incite more than50% of peopleto refer new customers to your business. ^[9]
69% of customersare more likely to try a brand if the company gives rewards. ^[9]
39% of consumersbelieve direct incentives – such as money, discounts, or free swag can significantly increase the chances of referring a business. ^[9]
88% of US shopperswould like a reward for sharing a product on social media or via email. ^[9]
The same goes for 95% of 1834year. ^[9]
77% of them want money, while 18% want free swag for referring. ^[9]
A picture of the referring consumer’s face increases the rate of conversion of their referrals bymore than 3%. ^[9]
50% ofaffiliate referredtraffic comes from mobile devices. ^[9]
Businesses with referral programs in place experience an average of69% faster time to close. ^[9]
Furthermore, they also get a 59% higher lifetime value and 71% higher conversion rates for their clients. ^[9]
82% of SMB ownerscite referrals as the primary source of new business. ^[9]
83% of customersare more likely to refer new customers after a positive user experience. ^[9]
The Dropbox referral program increasedsignups by a mind. ^[9]
Today, 35% of the company’s signups come from the referral program. ^[9]
Paypal’s referrals accounted for the company’s7%. ^[9]
Thanks to its referral program, Koodo managed to reduce itsCPA by 167%and got almost 75,000 new customers in two years. ^[9]
90% of Americans use customer service as a factor in deciding whether or not to do business with a company. ^[10]
58% of American consumers will switch companies because of poor customer service. ^[10]
89% of consumers are more likely to make another purchase after a positive customer service experience. ^[10]
63% of consumers expect businesses to know their unique needs and expectations, while 76% of B2B buyers expect the same thing. ^[10]
If the company’s customer service is excellent, 78% of consumers will do business with a company again after a mistake. ^[10]
Consumers who rate a company’s service as “good” are 38% more likely to recommend that company. ^[10]
93% of customers are likely to make repeat purchases with companies who offer excellent customer service. ^[10]
Roughly 50% of customers say they would switch to a new brand after one bad experience. ^[10]
After more than one bad experience, around 80% of consumers say they would rather do business with a competitor. ^[10]
Nearly 80% will forgive a bad experience if they rate the service team as “very good.”. ^[10]
78% of customers have backed out of a purchase due to a poor customer experience. ^[10]
More than 50% of customers across all age groups typically use the phone to reach out to a service team, making it the most used channel for customer service. ^[10]
The effectiveness of bots in resolving issues has fallen to 28%. ^[10]
American consumers do not find bots effective, with 40% relying on other channels to reach out to service teams. ^[10]
79% of American internet users are on Facebook, making it the most popular social media platform. ^[10]
33% of customers are most frustrated by having to wait on hold. ^[10]
33% are most frustrated by having to repeat themselves to multiple support reps. ^[10]
In a similar study, nearly 60% of customers feel that long holds and wait times are the most frustrating parts of a service experience. ^[10]
53% of shoppers believe their feedback doesn’t go to anyone who can actually act on it. ^[10]
36% of consumers overall will share their customer service experience, whether good or bad. ^[10]
94% of American customers will recommend a company whose service they rate as “very good.”. ^[10]
Only 13% of consumers will recommend a company whose customer service they’ve rated as “very poor.”. ^[10]
50% of customers say they don’t share their bad or good service experiences through social media. ^[10]
Nearly 90% of consumers trust a company whose service they’ve rated as “very good” to take care of their needs. ^[10]
Increasing customer retention rates by just 5% can increase profits by between 25% and 95%. ^[10]
89% of companies with “significantly above average” customer experiences perform better financially than their competitors. ^[10]
70% of the customer’s journey is based on how the customer feels they are being treated. ^[10]
Your online conversion rate can improve by roughly 8% when you include personalized consumer experiences. ^[10]
On average, customer service agents only ask for a customer’s name 21% of the time. ^[10]
71% of consumers believe that a quick response from your service team can drastically improve their customer experience. ^[10]
Almost 90% of customers report trusting a company whose service they rate as “very good.”. ^[10]
On the other hand, only 16% of those who give a “very poor” rating trust companies to the same degree. ^[10]
90% of customers rate an “immediate” response as important or very important when they have a customer service question. ^[10]
60% of customers define “immediate” as 10 minutes or less. ^[10]
More than 70% of consumers believe that companies should collaborate on their behalf, so that they don’t have to repeat information to different representatives. ^[10]
Nearly 70% of customers are irritated when their call is transferred from department to department. ^[10]
69% of consumers first try to resolve their issue on their own, but less than one third of companies offer self service options such as a knowledge base. ^[10]
An NPS® promoter score has a customer lifetime value that’s 600% 1400% higher than a detractor. ^[10]
83%of the customers are open to referring a business after conducting a successful purchase. ^[1]
78%of the B2B referrals create viable customer leads for the business. ^[1]
Referrals end up creating65%of new business opportunities. ^[1]
Millennials use their phones to perform research and they are involved in 45% of tech buys. ^[1]
92% of the millennials use social media as a channel of communicating with the industry brands and B2B businesses should use this to an advantage to retain them as loyal customers. ^[1]
It is important for a B2B referral business to maintain a good online persona because 80% of the millennials do not purchase a product or service without reading the reviews about it. ^[1]
28% of millennials will not purchase a product or service if their peers do not give it the stamp of approval. ^[1]
Well over 90% of B2B customers are likely to purchase from a seller who gave them an elite mobile experience while only 50% of buyers are likely to purchase from a seller whose mobile experience was not that good. ^[1]
80% of the B2B customers use a mobile phone device at work. ^[1]
Over 50% of online searches that are conducted in relation to B2B businesses are credited to smartphones. ^[1]
The use of mobile phones reduces the time taken to make B2B purchase by 20%. ^[1]
The posts that businesses make on their social media pages influence the decisions of up to 78% of the customers following them on those platforms. ^[1]
About 50% of people share information on their social media platforms about the purchases that they make. ^[1]
43% of people are more likely to purchase a product or service from a business when a friend or family member recommends it to them via social media. ^[1]
81% of purchasing decisions in the United States are influenced by the posts that are made by friends and family on social media. ^[1]
58% of customers talk about their positive experiences with a brand on social media. ^[1]
40% of customers will provide feedback on social media about a business’ products or services. ^[1]
In comparison, 63% of customers need to hear a company’s claim at least 5 times before actually believing it. ^[1]
91% of customers in the United States share information about offers, discounts and good deals with their friends and family. ^[1]
More than 50% of potential buyers consult third party sources of information such as friends and family before making contact with the company’s sales department. ^[1]
88% of customers trust the reviews they find online just as much as they trust the information they get from their friends and family. ^[1]
54% of B2B referrals have a much lower cost when compared to other sources of leads. ^[1]
The use of referrals holds a very big influence on the success of sales for over 55% of businesses. ^[1]
67% of the sales pipeline is effective when using the B2B referral program while only 36% is effective without. ^[1]
27% of sales officers attributes up to 50% of the new clients that they get to B2B referrals. ^[1]
56% of sales team members believe that referral programs are crucial to their businesses. ^[1]
76% of senior management personnel prefer working with suppliers that have been referred to them by someone they know. ^[1]
86% of companies that have a set up formalized referral program recorded growth as compared to just 75% of businesses without B2B referral programs. ^[1]
68% of businesses employing B2B referrals show that referral is either effective or highly effective with respect to the anticipated business outcomes. ^[1]
A business registers an at least 16% profit from customers who are referred to the business. ^[1]
The referred customers have a 37% higher retention rate as compared to those who were not referred. ^[1]
They also have an 18% higher rate of becoming long term clients as compared to the non. ^[1]
55% of businesses with B2B referral programs show much more effective sales efforts as compared to 35% of companies without these programs. ^[1]
82% of small businesses consider referrals to be their main source of advertisement and income. ^[1]
91% of B2B referrals influence customers by word of mouth. ^[1]
88% of the potential customers of B2B businesses seek a word of mouth assurance before making a financial decision to purchase from the business or not. ^[1]
75% of consumers consider word of mouth as the key influencer in making purchasing decisions. ^[1]
56% of people who purchase products or services from a business seek a word of mouth assurance from an offline platform before making the purchase decision. ^[1]
Your sales reps have roughly 5% of a customer’s time during their B2B buying journey. ^[15]
In fact‚ Gartner research finds that when B2B buyers are considering a purchase‚ they spend only 17% of that time meeting with potential suppliers. ^[15]
When buyers are comparing multiple suppliers‚ the amount of time spent with anyone sales rep maybe only 5% or 6%. ^[15]

I know you want to use B2B Services Review Platforms, thus we made this list of best B2B Services Review Platforms. We also wrote about how to learn B2B Services Review Platforms and how to install B2B Services Review Platforms. Recently we wrote how to uninstall B2B Services Review Platforms for newbie users. Don’t forgot to check latest B2B Services Review Platformsstatistics of 2024.

Reference

financesonline – https://financesonline.com/b2b-statistics/.
thinkimpact – https://www.thinkimpact.com/b2b-referral-statistics/.
helpscout – https://www.helpscout.com/75-customer-service-facts-quotes-statistics/.
g2 – https://learn.g2.com/customer-reviews-statistics.
sproutsocial – https://sproutsocial.com/insights/social-media-statistics/.
boast – https://boast.io/20-statistics-about-using-testimonials-in-marketing/.
statista – https://www.statista.com/statistics/1191546/b2b-tech-vendor-review-sites-use-cases/.
hubspot – https://www.hubspot.com/marketing-statistics.
hubspot – https://blog.hubspot.com/service/customer-review-sites.
review42 – https://review42.com/resources/referral-marketing-statistics/.
hubspot – https://blog.hubspot.com/service/customer-service-stats.
qualtrics – https://www.qualtrics.com/blog/online-review-stats/.
medium – https://medium.com/@chandan.reddy/15-trust-badges-from-top-b2b-services-review-platforms-in-2020-a65128d75d2a.
marketwatch – https://www.marketwatch.com/press-release/b2b-services-review-platforms-market-size-2024-swot-analysis-driving-factors-trends-countries-data-top-key-player-business-revenue-and-forecasts-2029-124-report-pages-2024-04-18.
hbr – https://hbr.org/2018/03/the-b2b-elements-of-value.
gartner – https://www.gartner.com/en/sales/insights/b2b-buying-journey.

How Useful is B2b Services Review Platforms

One of the key benefits of B2B services review platforms is the opportunity for businesses to learn from the experiences of their peers. By reading reviews and testimonials from other companies that have worked with a particular vendor, businesses can gain insight into the quality of service, reliability, and customer satisfaction levels offered by that vendor. This firsthand knowledge can be invaluable in helping companies avoid potential pitfalls and select vendors that align with their business goals and values.

Furthermore, B2B services review platforms can help businesses save time and effort in the vendor selection process. Instead of relying solely on word-of-mouth recommendations or cold calling potential vendors, businesses can use these platforms to quickly identify top-rated providers in their industry and compare their offerings based on real-world feedback from other businesses. This streamlined approach can lead to more efficient decision-making and ultimately result in better outcomes for businesses seeking to outsource services or form partnerships.

In addition to providing valuable information for vendor selection, B2B services review platforms can also help businesses evaluate the credibility and reputation of potential partners. By checking the ratings and reviews of vendors on these platforms, businesses can get a sense of how well-regarded a particular vendor is within their industry, as well as whether they have a track record of delivering on their promises. This can help businesses avoid working with unreliable or unethical vendors and protect their own reputation from being tarnished by association.

However, it’s important to recognize that B2B services review platforms are not without their limitations. While many platforms claim to provide unbiased and objective reviews, there is always the risk of fake or biased reviews skewing the overall ratings of vendors. Businesses should take reviews with a grain of salt and consider the source of the feedback before making any decisions based solely on the information provided on these platforms.

Furthermore, the sheer volume of reviews and ratings available on these platforms can sometimes be overwhelming for businesses. Sorting through countless reviews to find relevant and reliable information can be a time-consuming process, and businesses may struggle to make sense of conflicting or inconsistent feedback from different sources. This can make it challenging for businesses to trust the information they find on these platforms and may ultimately lead to a sense of uncertainty in their decision-making process.

Overall, B2B services review platforms can be a valuable resource for businesses looking to outsource services or collaborate with other organizations. By leveraging the information and insights provided on these platforms, businesses can make more informed decisions about their vendor partnerships and ultimately achieve better outcomes for their own organization. While there are limitations to be aware of, the benefits of using B2B services review platforms far outweigh the risks, making them a valuable tool for businesses in today’s competitive marketplace.

In Conclusion

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B2B Services Review Platforms Statistics 2024 – Everything You Need to Know