![]() ![]() Among all countries, Libya (840,000 b/d), Iran (540,000 b/d) and Canada (300,000 b/d) saw the largest increases. Global oil production increased by 1.4 million b/d in 2021, with OPEC+ accounting for more than three-quarters of the increase.Regionally, most of the growth took place in the US (1.5 million b/d), China (1.3 million b/d) and the EU (570,000 b/d). ![]() A majority of the consumption growth came from gasoline (1.8 million b/d) and diesel/gasoil (1.3 million b/d).Oil consumption increased by 5.3 million barrels per day (b/d) in 2021 but remained 3.7 million b/d below 2019 levels.Oil prices averaged $70.91/bbl in 2021, the second highest level since 2015.Now that we’ve established that reviews influence consumer purchasing decisions, find out how to deliver customer service that drives great reviews in our new report, 3 Ways to Catapult Your Customer Service in 2022. ![]() A large number of reviews combined with great reviews help build immediate trust that will ultimately convert casual online visitors to actual paying customers. Reviews help build trust between the customer and the business. Quite simply, reviews are an important deciding factor for a lot of customers buying online. However, leaving them unanswered will only hurt your reputation and your relationship with your customers. Being able to resolve the issues presented in negative customer reviews can end up having a positive effect on potential customers in the end because it shows you care about your customers. After all, nobody is perfect-and that goes for businesses as well.Ĭonsider the less desirable reviews as an opportunity to let your customer service skills shine. All positive reviews make it seem like the entire page is inauthentic, whereas one or two minor negative reviews actually highlight that you’re a real business. However, there’s a very important caveat to consider: the complete lack of negative reviews on a product or service page will diminish its credibility as well. A bad review reflects poorly on your product or service’s quality and reliability. Unfavorable reviews negatively impact your business. 86% of people hesitate to do business with a company if it has negative online reviews. All of this results in more sales which comes from an increase in conversion rate, visitor return rate and average order size. It can also help strengthen your brand’s credibility and reliability. ![]() Displaying reviews on your website gives potential customers more confidence in their purchasing decisions and reduces doubts, leading to a higher conversion rate. Ĭustomers are more likely to purchase from a website that has customer reviews than a website that doesn’t. On average, reviews produce an 18% uplift in sales. If it seems spammy or paid for, it’s likely to have the opposite effect and turn customers off. The important thing to remember here is that consumers will trust a review that is both high-quality and authentic. However, with the widespread accessibility of the internet today and the growing importance of ecommerce, online reviews now carry as much credibility as a personal recommendation from someone you know. Word-of-mouth has consistently been a critical consideration when it comes to a business’ credibility. 79% of customers put as much weight on online reviews as they would on personal recommendations. But how exactly do they influence purchasing decisions? Here are 3 ways: 1. Needless to say, reviews are very important. And 92% of consumers hesitate to make a purchase when there are no customer reviews. In fact, according to their data, 97% of participants said customer reviews factor into their buying decisions. Consumers are interested in learning about the experiences and problems customers have had, how you’ve responded to complaints, consensus on whether or not the product or service lived up to your claims and so on. In research conducted by Dixa this year, 93% of customers will read online reviews before making a purchase, with 47% spreading the word about a positive experience and a striking 95% shouting from the rooftops about a negative experience.Īnd research published by Fan & Fuel notes that consumers not only want to see reviews on your products and services but they also look for the nitty-gritty details in your customer reviews. You could even say they play a starring role in the customer journey.īut if you’re wondering just how much influence customer reviews have over purchase decisions, then take note: ![]()
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