Reviewing products that you buy online has become a part of life for the average consumer. Practically every time you order a product from an eCommerce website, you’ll get a follow-up email asking you to rate your experience.
There’s a good reason for this: reviews help inform both customers and companies. The customer side of the equation is obvious. Prospects can find out what their peers thought of a particular product and then factor that into their decision-making.
For businessees it matters too, but not for the reasons you think. Yes, getting a high average rating is vital to facilitate sales, but companies also need insights that help them develop better products in the future. Reviews, therefore, are an essential data stream that lets firms adjust their processes to suit the needs of their clientele better.
The following infographic charts the importance of reviews. It begins with a discussion of the usefulness of big data. As the number of reviews of your products grows, you’re often able to derive profound insights that feed into things like product development. The graphic then moves onto talking about the changing value of data online. Once you reach specific thresholds, you’ll be able to glean more from your reviews.
Finally, it discusses the problem of “over-responding” to product reviews where companies try to respond to every complaint, regardless of whether it makes sense or not.
Do you sell products online? Are you interested in how utilising online reviews could help you hit your sales targets? If so, check out the following infographic for more information.
Infographic by University of Alabama Birmingham