In Review Data-Driven Strategies to Leverage the Power of Online Reviews Based on our extensive research into how online reviews influence purchase decisions, we recommend that retailers follow these six principles when developing an online review strategy. Display reviews Embrace negative Prioritize generating Further prioritize Overcome selection Identify reviews and ratings on your reviews reviews for products generating reviews bias to improve the from “verified product website with a low volume for higher-price and value of reviews buyers” of reviews higher-consideration products Displaying reviews Purchase likelihood The first five reviews Reviews are more A larger pool of Identifying purchasers can increase sales typically peaks when have the biggest impactful for higher- reviewers is not always with “verified buyer by 270% on average. the average star rating impact on purchase priced and higher- more representative, badges” enhances the Retailers that choose is between 4.2 and decisions. Rather than consideration particularly if it includes credibility of a review not to feature ratings 4.5 stars and starts to trying to generate products. There’s a a large number of and improves the odds and reviews risk losing drop as the star rating additional reviews for higher risk involved anonymous reviews. of purchase by 15%. customers to a site approaches a perfect all products, retailers with purchasing an Retailers can make Retailers should be that does. Hosting 5.0. While it may should focus their expensive item, a new their reviews more transparent in labeling mobile-friendly sites seem counterintuitive, efforts on making sure brand, or a product that representative of the verified buyers and any that make it easy to negative reviews all products have at affects personal safety. total universe of buyers tactics used to solicit view and post reviews can have a positive least a handful Retailers can help by encouraging verified their reviews. will help retailers impact because they of reviews. consumers overcome buyers to post reviews drive sales. establish credibility this risk by providing through post-purchase and authenticity. additional reviews for email prompts. these products. 18 \ How Online Reviews Influence Sales \ spiegel.medill.northwestern.edu