Review marketing is using customer feedback in order to attract more customers, convert leads and boost sales. Review marketing improves the ways in which the end-customer perceives a brand. It correspondingly works towards inducing customer loyalty.
The reason why customers’ reviews work so well is that word-of-mouth is invariably the best form of advertising. People are by default programmed to discuss all that happens in their lives, be it good or bad. This is the kind of stuff that could help them make better buying decisions.
Nowadays, 88% of consumers have as much faith in online customer reviews as they have in personal recommendations. Reviews hence come by as being particularly useful in the present day scenario, wherein we find that more and more people use the internet to figure out information about the stuff they are on a lookout for.
Ways in which customer reviews benefit businesses:
A free advertising strategy
When a customer posts a user review online, it is free advertising for your business. It builds awareness as your brand finds more exposure.
Nowadays, online reviews cover more businesses than other media sources possibly can. They cover a number of small businesses as well. The mass exposure that they provide surpasses the kind that can be achieved with the use of traditional channels for marketing.
Customer reviews render effects over search engine results as well. Different search engines, such as Google and Bing keep a watch over the number of times a brand’s name shows up in the reviews. When reviewed frequently, a business is likely to rank higher as compared to its competitors for search terms related to its operating domain.
Recommendation by peers
Consumers, in general, have a higher degree of belief over their peers’ recommendations, over advertising. A Nielsen survey conducted in 2015 involved 30K users from 58 countries. It came to find out that over 80% of the responded believed the recommendations provided by the people they knew. 70% of the respondents stood by the information in the form of product reviews they come across online.
Online reviews are also a fine avenue for finding suggestions that may improve your business or operations. Customers may express the suggestions in the form of genuine concerns. While this comes by as an opportunity to work upon and improve the issue that a customer is facing, it may be a fine way to rework business practices as well.
If a business finds access to a customer’s opinion in the form of honest reviews, it must definitely be worked upon. This is because access to customer reviews is not always easy to find. A business can also respond to the customer over the review site and occasionally come across genuine suggestions to improve their way of working. This creates a repository of fresh business ideas.
A closer customer relationship
When you respond to customer reviews, it goes to show that you have an interest in what the customers have to say. Number potential customers are likely to read these interactions. So a business must respond positively to both, positive and negative feedback. This helps businesses nurture customer loyalty.