eMarketer reports on a new study by e-consultancy and Bazaarvoice, suggesting that customer reviews boost conversion, traffic, and average order value in a big way.
Nearly all survey respondents thought ratings and reviews were either extremely helpful or very helpful “as consumers.”
“Tapping into social commerce can be a great way of gaining a competitive advantage, for example through ratings and reviews,” Linus Gregoriadis, E-consultancy’s head of research, said in a statement. “But apart from the early adopters, this is something a large proportion of online retailers are only just starting to think seriously about.”
Mr. Gregoriadis said one-third of online sellers were concerned about negative reviews — a major barrier to adoption of ratings and reviews — “but retailers are finding that they can improve conversion rates, drive sales and increase customer satisfaction even if customers aren’t necessarily singing their praises all the time.”
Of course, some are better at implementing customer reviews than others, but it’s clear that reviews are becoming an expected part of buying online. The Church of the Customer blog calls this trend “a no-brainer” and we couldn’t agree more.