A review you can find for an online product is ultimately word-of-mouth marketing on steroids. It’s something we can’t escape, which is a good thing. Online reviews are set by what customers feel for a brand and, like everything in marketing, it changes over time.
The New Product Purchase Sentiment from the Nielson Global Survey showed in 2013, 77 percent of consumers were more inclined to buy a product if family or friends endorsed it. The question is, what does this mean for the world of online shopping?
Just a year before the survey, the Local Consumer Review declared that around 72 percent of consumers held online reviews in as high esteem as a personal referral. Since then the number has increased to 84 percent in 2017! It just goes to show how much more people are trusting online peers as time goes by.
One way to look at the information is that buyers proactively search for reviews to find out what other people thought of the product and how well it’s made. For online merchants, this implies that implementing a review marketing plan may to be both manageable and increasingly effective.
As we find out why it is a strategic choice we’ll be detailing four reasons how online product reviews can make a difference:
Online product reviews raise trust and reputation for vendors, functioning as an essential part of the customer-to-business connection. It’s increasingly critical when you know that online safety is a crucial hurdle for offline buyers who have yet to convert (2017 E-Commerce Industry Report).
Trust lets you count on offline purchases to move online, and online buyers to become long-term clients. Additionally, no company is perfect which is why consumers appreciate transparency, so with the right blend of positive and negative reports, along with appropriate replies from your company will gain you the support of your customers.
As Forbes recorded, 88 percent of customers believe online reviews are authoritative and trustworthy. Depending on the review you’re looking at, they remain in good standing with the user as much as if a friend, relative or colleague talked positively about it themselves. Consequently, the likelihood of a person potentially ordering from you is exponentially better for you if the online reviews are complimentary.
In 2012, new data revealed that about 86 percent of consumers look over reviews online before deciding to buy a product (The Importance of Online Product Reviews). There’s a strong correlation connecting sale conversation rates and reviews, and the buyer’s funnel causes most of it. A favorable product review provides validation for the buyer which reassures them that they made the right purchase, urging them from the deliberation to the action stage.
In the initial stages of the buying choice, interested buyers will run the view of the product through a filter based on ratings. It enables the customer to cut down the necessary analysis into manageable parts.
Following that, reviews turn into essential evaluation aids in obtaining high-ticket items, which is vital in the lack of the means to try out things like consumer electronics and automobiles. It’s a sophisticated manner of user-created content which is filled with SEO – applying long-tail keywords or different phrasing can allow the product to be found more easily, especially with specific readers.
E-commerce websites continue to hold a competitive market positioning with informative online product reviews. View some of your products on the internet to find out what the word is about your business. As we all know, whether you want it out there or not, it’s where people get information, so use it to your advantage!