In the past, there was not marketing or advertising technique that could trump the amount of trust that people put in word of mouth. Now that this word of mouth has all but disappeared as a place people turn to find out about their next purchases, reviews have stepped in as the next best thing. Most internet users pay very close attention to product, service, and business reviews before doing any business whatsoever, which is smart on their part. However, we have all heard of the hurt that reviews can put on any company, big or small. A single negative review can cost a business many customers, and has in very few cases been that which caused the business to go under. But, how can something that some random, often anonymous person states about their personal experience with a business cause so much havoc for that business?
Recent numbers from Weber Shandwick, a marketing and retail research group, show how reviews can affect a business so severely. First off, their study shows that 65% of potential buyers in consumer electronics were influenced in their decisions by reviews. The reviews that businesses appreciate most are often those done by professionals, because they are honest and the positive ones can really portray the greatest aspects of that business. However, these do not appear to be the ones that consumers want to pay attention to. About 77% of those surveyed preferred consumer reviews over editorial.
What is strange is that even though 65% of buyers are influenced by the writings in reviews, mostly by those of other consumers, 80% of those surveyed said that they usually questioned the authenticity and accuracy of the reviews that they were reading online.
So, I guess this is essentially bad news for any business that relies at least partially on reviews as a marketing method. Any random consumer can post anything they want about a business, and it seems all we can do is hope for positivity. However, there is a bright side. The study tells us that consumers, on average, view at least 11 consumer reviews before making a decisions whether to purchase or move on to another brand. So, that gives businesses quite a bit more room, allowing for consumers to find a few positive reviews, instead of simply focusing on the negative.
Bradford Williams, the president of Weber Shandwick’s North American Technology Practice, states:
“We know consumer reviewers are a powerful force. Now we know that they are THE most powerful force. Savvy marketers are the ones who listen to, manage and deploy consumer reviewers to harness their considerable might at the cash register.”
“The increasing impact of consumer reviews on sales means that marketers must learn how to effectively manage the flood of online opinion engulfing shoppers. Online user reviews are transforming buying decisions. Our study sheds new light on why, how and when shoppers use both user reviews as well as traditional editorial reviews in the purchase process.”
The full infographic from this study can be found here.
