Personal recommendations are trusted 90% of the time worldwide according to a survey conducted by WOMMA member Nielsen. Online product reviews are trusted 70% of the time. And the reviews are pouring in. For those who think the Internet has stabilized, please consider the developing world. Billions of people have little or no Internet experience, but just about everyone is interested. Consequently, product reviews and the continued expansion of Internet access will only amplify the impact of user generated review content. What does this mean for brands and marketers? The product has to be solid. Inferior work will not be tolerated by the masses. Also, companies need to engage. When consumers speak, they like to be heard. If a company doesn’t respond, the consumer will find someone who does.
Lots more on the developments in consumer reviews at Trend Watching.
uggs 7:31 pm on September 6, 2009 Permalink
hhhh
Eric Weaver 11:54 am on September 7, 2009 Permalink
Additional impact to brands and marketers:
- Self-interested or unethical corporate behavior will be outed.
- Billions of megaphones means it’s gonna get noisy and harder for marketing budgets to compete on the old intrusion model.
- If we marketers are the least trusted, then we may want to change our approach, since trust drives transactions.
Great stuff!