Online shoppers mostly rely on peer reviews

There is an unprecedented amount of information available these days, and firms need to know how to handle this. According to a recently completed study by the e-tailing group, commissioned by PowerReviews, online consumers are attaching a lot of importance to the online reviews of other consumers. The study surveyed 1,200 consumers who shop online at least four times per year, spending $500 or more annually.

Some results, as covered by MarketingCharts:

Some 70% of all online shoppers said customer reviews and ratings on a retailer’s website were extremely or very important when they are selecting and purchasing products, followed by 62% citing a top-rated products list (as rated by customers).

MarketingChart image (click to enlarge)

Among the respondents, 65% were identified as Social Researchers – consumers who actively (always or most of the time) seek out and read customer reviews prior to making a purchase decision.

MarketingChart image (click to enlarge)
In short, online consumers find the reviews of others extremely important.

Now, as marketers, we should give an increasing amount of importance to the voice of the consumer, since it has become a lot louder lately. It is important to provide a platform for your prophets, and engage in discussion with your brand ‘terrorists’ to try to turn them around. That way, you can leverage good experiences and good reviews – the best and most cost-effective marketing you will ever get.

This entry was posted on Friday, November 16th, 2007 at 12:04 am and is filed under Social Marketing. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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