Use Online Product Reviews To Your Advantage

A recent survey shows that companies can’t ignore the internet when it comes to selling their products.  Opinion Research Corporation’s recent survey, addressing the impact of online consumer reviews, found that out of the 736 participants, 61% confirmed they consult online reviews prior to buying a product.  Additionally, a staggering 83% acknowledged that online reviews have at least some level of influence on their purchasing decisions.

A managing director at Opinion Research Corporation said that even a single negative review, when posted in a very public forum, can have a significant impact on a prospective buyer’s decision to purchase.  Individuals who have purchased or even only used a product may now exert more power over the purchase decision making of others than the company itself. 

So how can businesses use this to their advantage? Forums, says Opinion Research.  Starting a dialogue between the company and the customer lets the business know exactly what their consumers are looking for.  At the same time, the consumer feels as if their voice is directly heard by the company.  If the purchasing process is a positive experience, down the road, they will think of your company first when making that next purchase. 

This said, negative reviews are simply unavoidable.  Instead of brushing the nay-sayer aside, experts say to productively embrace the criticisms, while engaging the consumer. 

Despite the 83% of people influenced by online review, only 32% reported posting their own reviews.  That means that over four out of every five buyers have their opinions significantly altered by the reviews of less than one-third of the market. 
If customers are going to have such a powerful hand in the potential success of a company, it is crucial for managers to engage a larger portion of their client base, so as to provide a more equitable portrayal of the company and its services and products.