According to a recent study released by Neilsen, more than 80% of online shoppers read a product or retailer review BEFORE making a purchase decision! Additionally, more than 70% felt more comfortable making their purchase decision after reading consumer product reviews.
Retailers who can garner product reviews both on-site and off-site will be ahead of the pack during the 2009 shopping season. The consumer’s desire for product reviews is not just isolated to holiday shopping but is now a common place practice before buying products online (throughout the calendar year). Not only will they look for customer feedback on a retailers site, but they will put more weight in product reviews that are outside of the retailers domain and control. Independent consumer reviews are more trusted, unbiased and perceived to be more credible by like-minded consumers. A 2007 MarketingVOX study found that 91% of moms prefer brands that other moms have recommended.
Now more than ever, with social networks and Web 2.0 channels/applications popping up all over the web and becoming popular destinations, online retailers need to get their products into the hands of active online participants who can openly discuss their experience with a product/service, thus influencing purchase decisions of like-minded consumers. It’s important to note that less than 10% of your customers are active participants & influencers while the majority of your customers sit on the sidelines & observe (making them influenced readers). Examples of popular consumer review outlets include:
- Destination sites like epinions.com, consumersearch.com, and amazon.com
- Independent bloggers and website publishers
- Video channels like YouTube
- Peer networks like Facebook & MySpace
Finally, 26% of search results are user generated content (Neilsen BuzzMetrics) which is commonly in the form of product reviews. Has your company stepped up its game with consumer product reviews? Do you have a strategy to get your product in the right hands that will contribute online? Contact a TDM Account Executive to learn more about a customized product review campaign.