We live in a world where we have more choices than ever before. Instead of two or three options, we have hundreds – if not thousands – to choose from. As a result, deciding which insurance provider to trust, or which mechanic to use, can feel incredibly overwhelming.
The rise of online reviews, and the consumer’s demand for them, results from the fact that we have more options, coupled with less time on our hands to evaluate them.
Online reviews serve the crucial purpose of providing consumers with relevant information that simplifies, and shortens, the decision-making process.
Online reviews provide consumers with information gathered by their peers. Products and services have been evaluated and rated by people just like them. Difficult decisions, like which smartphone to buy, or which daycare to send your child to, are simplified.
With the click of a mouse, consumers can size up a business via online reviews enabling them to simplify an often overwhelming amount of information into easily-digestible experiences, and stories.
70% of purchase decisions are based on how a customer feels they’re being treated, reports McKinsey. Increased competition among businesses, thanks in part to the rise of e-commerce, has seen consumer experience become one of the most important factors when it comes to their purchasing decisions.
Online reviews provide shoppers with much-needed honest accounts about whether a business is easy to deal with, what the level of customer service is like, and how the company handles hiccups and complaints.
When trying out a new product or an unfamiliar brand, shoppers rely on online reviews to reduce the risks associated with buying from an unfamiliar business.
In addition, shoppers are reading online reviews when they’re purchasing big-ticket items like a car, a new smartphone, or an overseas trip. Shoppers also turn to online reviews before they buy products or services that come with high-stakes, such as a new household insurance broker, childcare, or a doctor.
Online reviews provide no-holds-barred feedback that, when positive, reassures consumers. They’rere able to turn a sceptical shopper into a trusting, and loyal one.
Time is a valuable commodity, which means consumers don’t want to spend hours deliberating over which restaurant to eat at, or which blender to buy.
They want to evaluate businesses quickly – without compromising on the amount of information needed to make a purchase decision. Online reviews provide a quick way to gather intel in order to make an informed, smart decision.
Reviews are the digital equivalent of ‘try before you buy’. Instead of paying money for a product or service and then hoping for the best, prospective shoppers can gain a sense of what to expect before they shell out their hard-earned cash.
They no longer need to take a business’s word for it, shoppers can easily establish which business offers the best value for money according to their online peers.
Shoppers initially read online reviews to get an accurate idea of what to expect from a business, product, or service. It makes sense that the most important criteria shoppers look for in online reviews is that a company is trustworthy.
Shoppers need to know the reviews they’re reading are genuine, which has resulted in the popularity of third-party reviews sites like TripAdvisor and Yelp. They’re seen as reputable because they exist independently of the businesses they contain information about.
To summarise, reviews help shoppers make the most informed decision they can when it comes to spending their hard-earned money.
Reviews on Hellopeter have helped over one million consumers make better choices. Had an experience you’d like to tell us about? Leave us a review here.
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