Top 4 Benefits of Customer Reviews for Businesses

How do you exactly narrow down your choices whenever you go for online shopping or shopping in general? How do you get assurance that the product you have bought is the one and you are going to get the right value of your money? Do you go through customer reviews for that particular product?

We're sure; you must have gone through customer reviews before making a final buying decision. As the new-era enthusiastic shoppers, we know our rights and want the best at the least available price.

In fact, many-a-times we don't mind the price, if we can still get the best out of it.
So, what exactly matters is the quality of the product/service - and who could be better to tell about it other than its users?

Customer reviews always work in your favour as a company- as they add an element of credibility to your product. When a prospective buyer comes across your product, going through its reviews help her/him to understand your product better.

Also, they are able to relate to it better as they see real people using your products. Getting free reviews to look upon, they are more likely to even buy your product.

Now, the major question is how you can leverage customer reviews to benefit your business:

1.Free Advertising

With every review posted online, the customers are not only able to get a glimpse of the name of your business and products, but are also able to increase awareness about what exactly your business does and how good it is.

In other words, online reviews give access to more businesses than any other media sources combined. The mass exposure you get from these online reviews can never be achieved or even afforded through other traditional advertising channels.

According to BrightLocal.com, a local SEO Tools & Local Citation Building Service, 40% of online buyers form an opinion for a product/business after reading just 1 to 3 reviews.
Indian insurance aggregator, Policybazaar reviews page is a testimony of how you can use this brilliant strategy to your advantage.

2.Better Search Engine Results

You would have never guessed but internet search engine results are highly influenced by the online reviews. The higher the number of times your business name is mentioned in the reviews, the higher your business name will appear in the search results (compared to the companies whose names aren't/less mentioned in the reviews).

3.Peer Recommendations

There is a notion that the customers usually trust peer recommendations more than they trust any other form of advertising. However, as per a research conducted by BrightLocal.com, almost 88% of the consumers say that they trust online reviews as much as they trust personal recommendations.

You now know that every positive review (or even a negative one) about your product or service is going to impact your business. Thus, every online review about your business is a powerful form of advertising. BrightLocal.com has cited that almost 72% of buyers prefer to take action only after reading a positive review.

In fact, as per a research conducted by ReachLocal.com, almost 89% of users buy a product within one week of going through the reviews.

4.Suggestions and Constructive Criticism

There are always some reviews that may suggest improvements related to your business. You can easily manipulate it into a good opportunity to show how much you care about your customer problems.

It should be understood that it's actually good if your customers are using the online platform to raise their concerns about your product or services.

Because in any case, they are going to complain about your services (irrespective of the fact they post it online or not). By posting their reviews online, they make it easier for you to address their concerns publicly and leave a good impression on the other users.
There are also many reviews where customers post positive suggestions on how to perform your business in better ways or what new products you can launch - thus, establishing it as a free source to get great business ideas, for free.

One good example of following this practice is Modcloth that not only allows the customers to write reviews about its products, but also give them a chance to share the detail of the particular product as well as about themselves.

Summing it Up:

Just like other social media platforms, reviews sites too, give you a chance to develop a close relationship with your users and by replying to them you customers get to know you on individual basis. Furthermore, they also work as the perfect catalyst to bring-in more business by optimizing your retail website for conversions.