As many of you know, in late 2011 we launched our new product Positive Reviews Pro.
We’re excited about our new product because we are convinced that the new frontier in online marketing is based on customer reviews and loyalty rewards programs. This is for 2 reasons: 1) technology finally allows companies to easily capture and syndicate real reviews from customers and 2)customers now can track their action and get rewarded for it.
Every week there’s new data coming out that proves our hunch. Here’s another big study that proves customer online reviews impact sales!
A new study by Cone Communication reports that 4 out of 5 customers reverse their purchase because on negative reviews.
That is crazy! But not altogether surprising. 80% of all customers are impacted by reviews they read. Not only that, they’re all willing to reverse their decision and give their business to a competitor because of what they read online.
This makes a ton of sense. If a customer is reading your review, that means they found you online when they were searching for a product/service. If they were looking for a local product/service on Google, it is even more likely because the reviews show up right next to the search results. So a customer is ready to buy right then and there. Who is going to get the business? The company with a lot of positive feedback from happy customers or the place with a bunch of complaints from angry former customers?
The question answers itself.
What’s the new marketing mindset?
It’s all about growth.
Learn the latest in our new eBook.