GITNUX MARKETDATA REPORT 2024

Online Reputation Management Industry Statistics

The Online Reputation Management industry is expected to grow at a CAGR of 12% over the next five years, driven by the increasing focus on digital presence and the need for businesses to maintain a positive online image.

Statistic 1

"85% of consumers trust online reviews as much as personal recommendations."

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Statistic 2

"58% of executives believe that online reputation management should be addressed, but only 15% actually do anything about it."

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Statistic 3

"Only 44% of businesses monitor their reputation; 56% do nothing."

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Statistic 4

"64% of marketing executives indicate that they believe word of mouth is the most effective form of marketing."

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Statistic 5

"94% of consumers say an online review has convinced them to avoid a business."

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Statistic 6

"65% of high-dollar purchases are influenced by online reputation scores."

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Statistic 7

"84% of consumers would change their minds about buying a product after reading just 1 to 3 bad reviews."

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Statistic 8

"The global online reputation management market size was valued at USD 3.3 billion in 2020."

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Statistic 9

"The online reputation management market is anticipated to expand at a compound annual growth rate (CAGR) of 13.3% from 2021 to 2028."

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Statistic 10

"Over 30% of people would hesitate to make a purchase from a business that had no online reviews."

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Statistic 11

"On average, a one-star increase on Yelp leads to a 5-9% increase in a business's revenue."

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Statistic 12

"At the end of Q3 in 2020, 94% of verified reviews had an average 4-star rating on Google."

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Statistic 13

"89% of global consumers check online reviews as part of their online buying journey."

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Statistic 14

"Companies face a potential revenue drop of up to 22% when customers find just one negative article on the first page of their search results."

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Statistic 15

"53% of companies implemented reputation management software in 2020."

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Statistic 16

"One negative review can cost a business almost 22% of its customers."

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