The Power of Online Reviews

http://www.entrepreneur.com/article/236891

Chapter 5 talks about the power of product reviews and how they can effect the sales of a product. The article provides detail on how important online reviews can be to a consumer “According to Nielsen’s latest Global Trust in Advertising report, online consumer reviews are already the second most trusted source of brand information and messaging, with 70 percent of global consumers indicating they trust online reviews, an increase of 15 percent in four years.”

The article discusses some predictions in the product review trends. It talks about how companies can evolve with it and provide a more interactive experience between a business and the consumer. The five predictions in changing review trends include that reviews will no longer be anonymous by being linked to social networks, consumers will turn to people within their network for trusted/expertise opinion, consumers will be able to view  info about the reviewer along with past reviews, product reviews will be personalized and companies will provide a better snap shot of what info the consumer is looking for in a review.

Personally, I am a review reader but I typically don’t write reviews. Reviews have had an impact on whether or not I buy a product. Do you read reviews? Does it impact your buying decisions? Do you write reviews?

If these kinds are changes are implemented, do you think it would deter negative competitor reviews? Why?

How could these changes effect buyer decisions? And how would it effect how companies present reviews and respond?

Have a good night!