Transcript

Customer Feedback Friend or Foe

CUSTOMER REVIEWS: FRIEND OR FOE? REVIEWS "IT TAKES 20 YEARS TO BUILD A REPUTATION AND FIVE MINUTES TO RUIN IT." -Warren Buffett ONLINE CUSTOMER REVIEWS ARE ESSENTIAL TO THE REPUTATION OF BOTH SMALL AND LARGE BUSINESSES THE REVIEWS ARE IN Customer reviews play a vital role in the power of purchasing persuasions: 87% 73% of consumers say positive customer reviews make them trust a business more! of consumers say positive reviews online have reinforced their decision to purchase a product or service recommended to them. WHAT'S IN A NUMBER? 67%. lof consumers read 6 reviews or fewer 22%0 of consumers are reading more than 7 reviews ...Negative reviews DO drive purchasing decisions and can reduce sales." -Dr. Duncan Simester, MIT marketing expert UNLY T1% of consumers said they take NO notice of online reviews 40% of personal travelers and of consumers have changed their mind about purchases based on 80% NEGATIVE information they 46% of business travelers use have found online. social networking to share travel experiences BANK 83%0 of consumers say it's important to read user-generated content before making a decision about banking or other financial services 100 79% 21% say they do not trust online reviews as much as personal recommendations of consumers trust online 79% 21% reviews as much as personal recommendations AS OF JANUARY 2013, 85%0 OF SURVEYED NORTH AMERICAN CONSUMERS READ ONLINE REVIEWS FOR LOCAL BUSINESSES. 50% of U.S. consumers |75% of reviews posted on online review websites are positive are more likely to use a local business after reading positive online reviews 95% of unhappy customers 90% of unhappy customers 71% agree that positive reviews help them feel they are purchasing the right product/service. WILL NOT return after they WILL return if an issue is resolved quickly and efficiently 71% post a negative review IN GLOBAL REVIEWS WE TRUSTI The following statistics have been taken from a recent survey conducted by Global Trust in Advertising, and highlight the mediums in which consumers deem the most trustworthy for online reviews. Global Average TRUST COMPLETELY/SOMEWHAT DON'T TRUST MUCH/AT ALL 92% 70% 58% 58% 50% 47% 47% 47% 47% 46% 42% 41% 40% 40% 8% 30% 42% 42% 50% 53% 53% 53% 53% 54% 58% Recommendations from people I know Consumer opinions posted online Editorial content such as newspaper articles Branded Websites Emails I signed up for Ads on TV Brand sponsorships Ads in magazines Billboards and other outdoor advertising Ads in newspapers Ads on radio Ads before movies 59% 60% 60% 64% 64% 67% 67% 71% TV program product placements Ads served in search engine results Online video ads 36% 33% 33% 29% Ads on social networks Online banner ads Display ads on mobile devices Text ads on mobile phones DID YOU KNOW? 5% of negative product reviews are written by customers who show no record of actually purchasing the item. Sources: http://540seo.com/are-online-reviews-killing-your-business http://www.bazaarvoice.com/research-and-insight/social-commerce-statistics/#.UdsrJ20SQz4 www.dr4ward.com/dr4ward/2013/03/what-are-some-interesting-statistics-about-online-consumer-reviews-infographic.html http://searchengineland.com/2013-study-79-of-consumers-trust-online-reviews-as-much-as-personal-recommendations-164565 http://www.latimes.com/business/technology/la-fi-tn-fake-product-reviews-20130702,0,3816073.story http://liesdamnedliesstatistics.com/2012/04/online-reviews-personal-recommendations-most-trusted-form-of-advertising.html Reputation Advocate REPUTATIONADVOCATE.COM

Customer Feedback Friend or Foe

shared by ben.eddy on Jul 25
112 views
0 shares
0 comments
40percent of personal travelers and 46percent of business travelers use social networking to share travel experiences 83percent of consumers say it’s important to read user-generated content before ...

Category

Business
Did you work on this visual? Claim credit!

Embed Code

For hosted site:

Click the code to copy

For wordpress.com:

Click the code to copy
Customize size