Did you know that half of Internet users research online before making any type of purchase—whether on the Web or in a store? With the vast number of emerging social media vehicles available, it’s easy to forget the simple tactics that can make a huge impact on sales. I was reminded of this when the 2010 Social Shopping Study and its implications were reported in eMarketer this month. The most critical digital component a retailer can utilize is a review section on their website. More than half of the consumer respondents of this survey indicated that they would exit a site that did not offer adequate reviews and about 71% of respondents felt reviews directly influenced their purchases.

I use reviews every time I scan Amazon.com to buy a book, check out my next Netflix picks, make a reservation at a new restaurant, and even when I deciding which camera to buy for my daughter’s graduation.

Retail, B2B and restaurant clients can definitely benefit from this consumer insight. Reviews can be created by the corporation itself, but we recommend implementing user-generated ratings and comments to maximize your customer’s experience.

Reviews aren’t just useful for influencing your consumer’s buying decisions. Your company can integrate reviews into its product development and customer service functions. Reviews are a great way to learn about defects in a product, to understand when the consumer needs more information, and to build a community amongst your consumers to interact and influence each other. When monitored continuously, customer service representatives can react quickly to feedback and troubleshoot problems early on. This is a controlled forum for market research and a good way to identify your most loyal brand ambassadors that you could cultivate into social media influencers. If they are posting reviews, they are likely passionate about the product. Your company can contact these opinion leaders directly to offer promotions, new product trial, ask for more feedback, or tackle an issue head on.

What is holding you back from using consumer reviews as part of your web strategies?

Filed under: Brand Strategy, Emerging Technology, Social Media, Uncategorized on May 27th, 2010