The power of online reviews, according to Business 2 Community.
Whatever you might think of them, the power of online reviews cannot be ignored. Whether you’re a small e-tailer, an online giant, or a global blue-chip – online reviews have an impact.
Research from Nielsen revealed that recommendations from acquaintances or opinions posted by consumers online are the most trusted forms of ‘advertising.’ A recent blog post from eConsultancy shows that:
61% of customers read online reviews before making a purchase decision
Reviews produce an average 18% uplift in sales
47% of Britons have reviewed products online
With the explosion of online shopping – latest figures show that UK shoppers spent £586.9m a week online, on average, in June 2013 (that’s 18.3% up on the same month in 2012) – reviews have taken on a whole new significance. By not allowing customers to rate and comment on your company, you run the risk of online shoppers taking their business straight to competitors that do.