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The Impact of Online Customer Reviews on Your Bottom Line

Submitted by on June 22, 2012 – 8:52 amNo Comment

The Impact of Online Customer Reviews on Your Bottom Line

In today’s internet driven market place, more and more people are buying online because of the sheer convenience it offers. And it is now clearly emerging
that online buying decisions are greatly influenced by online customer reviews.

Significance of Online Customer Reviews – Some Facts

Traditionally people relied on word of mouth recommendations from their friends and acquaintances (essentially known people) to choose their products. Now
with the internet shrinking the world, people are turning to reviews of total strangers on online review sites, forums and the social media to make their
buying decisions.

According to a 2009 Nielsen Study, over 70% online buyers trusted
customer reviews posted online, making it the second most popular form of advertising after word of mouth recommendations.

The eMarketer in its February 2010 issue mentioned that in a survey carried out by online video review site EXPO, people have a greater degree of trust,
nearly 12 times more, on online customer reviews as compared to manufacturer’s claims.

And finally let us look at the 2012 Local Consumer Review Survey. Nearly 72% participants of this survey said that they trusted online reviews as much as
they trusted recommendations from known people. And 52% of the respondents were very clear that positive online reviews were a major factor in influencing
their decision to buy a particular product or use a particular service.

Trustpilot – A Review Forum that can make a Difference

While there are several review forums online, some like Trustpilot have greater credibility with customers and hence are more beneficial to your business.
Trustpilot is an exclusive review platform for online shopping experiences.

What makes Trustpilot particularly attractive to customers is the fact that it is an independent third party review site. The merchant (or seller, you) has
nothing to do with the reviews posted here. It is a platform where customers share online buying experiences, which help other customers finalise their own
buying decisions.

When customers want to know about the quality/price of your products, whether you will deliver goods on time, the condition of the goods in long shipping
or even how you would respond to any of their queries, they can and do refer to Trustpilot for information on all these areas. Trustpilot reviews cover
practically every consumer business under the sun from restaurants to cars to mobile phones and anything else you can think of.

The Trustpilot review system is a star rating system, where customers give your company a star rating out of a maximum 5, with one star indicating least
satisfaction and 5 stars indicating an exceptionally satisfactory overall shopping experience.

The Trustpilot Experience for Tyre-Shopper

Tyreshopper has received more than 6500 customer reviews on www.trustpilot.co.uk. A majority of the reviews are
overwhelmingly positive (as you can see from pie chart below, most of the customers have given us a 5 star rating), giving us on overall ‘excellent’
Trustpilot rating of 9/10.

We decided to use this bit of information to our advantage. We integrated the Trustpilot badge on the checkout page. Clicking the badge would lead
customers to the Tyre-shopper Trustpilot reviews in a new window.

Our strategy paid off. We experienced an 8.7% increase in conversions in a period of just one month as customer confidence increased on seeing the positive
Trustpilot reviews.

Conclusion

Research clearly shows that online customer reviews are an important factor that people are considering while making their online buying decisions. If your
website has generated positive customer reviews, particularly on credible sites like Trustpilot, it makes sense to mention them on your website. This will
surely have a positive impact on customers and increase the ‘decision to buy’.

Azzam is the online SEO and Social Media manager for National Tyres and Autocare, the UK’s no.1 independent fast fit supplier of tyres.

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