Have you ever been to an online product review site? If so, what is the reason for your visit? Well, according to surveys, 73% of people actually look for online reviews of different products before they make the purchase.
But, it is not only customers who benefit from product reviews because it can also help strengthen the reputation of the different brands as well.
In this article, I will go over some reasons why product reviews are so important- both for consumers and companies alike.
Influence Buyer Decisions
According to a 2017 survey conducted by BrightLocal, about 68% of Americans actually go online to look for product reviews before they make a purchase. What does this mean? It just means that such reviews can help influence buyer decisions.
Since people are doing online shopping now, they do not have physical access to the things that they want to buy. That is why they rely on reviews that they can find online just so that they can gain information and some user insight about the products that they fancy.
Of course, not all reviews are trustworthy since some of them are made by brand affiliates, but for the most part, information that can be gleaned from reputable review sites, forums, and online communities can help someone decide if they should push through with the purchase or not.
Improves Customer Engagement
Business owners are looking for ways to ensure that they not only retain their customers, but also attract new ones as well. One way they can do that is through product reviews.
In a survey that was conducted by Gallup Research, businesses that go far and beyond to establish an emotional connection with their customers by providing them useful and relevant information have shown a 23% increase in annual revenues as opposed to businesses that do not do this measure.
Another scenario where product reviews improve customer engagement is in the electronics industry. This is compounded by the fact that people who buy smartphones would look for online reviews first before they make the purchase.
People Are Reading Online Reviews
In addition to online reviews, would-be customers will also look for what other people say as well. Such reviews are made by those who have actually tried the product in question themselves and are providing useful inputs that could potentially sway people to buy or move on to another similar product.
Reviews are so powerful that in a 2016 survey by Fan & Fuel, about 94% of customers who are shopping online are reading them first before they make a move.
Gain Brand Credibility
Look at the biggest brands out there and you will find that their main websites always have a link to a blog or an information website. That is because they know how important reviews are.
For instance, an online business that sells trendy bags might create articles that are relevant to the products they sell. People would leave comments on those posts and companies who reply to them promptly would increase their credibility manifold than those who don’t.
They Can Increase Sales
Product reviews, especially ones that are created by actual customers, can help improve sales.
Otherwise known as social proof, such content allows would-be buyers to know how the product in question looks and performs and what things they need to watch out for before pushing through with the purchase.
In other words, product reviews made by actual customers can help remove marketing clutter and confusing jargon that companies usually include in their marketing spiel.
Whether you are running a business or you are planning to purchase something online, reviews are always going to be beneficial for both sides.
I would suggest that companies invest their time in creating a product review site that will help their businesses and people should always look for information on such platforms before they make a decision as well.