Recently I ordered for pest control in my home through an online service aggregator. The serviceman arrived even before the scheduled appointment,
was considerate of our request to wait for sometime and after finishing his job, asked for feedback spoken. When I said that I was happy with his work, he requested for a good rating on the online aggregator website. I could sense the extra effort he was giving to make me a happy customer, maybe he was trained by the company he worked with or maybe it was just how he learned to improve his business, but in quest of better online nood reviews, he was putting extra effort to deliver an improved service.
Online reviews play an important role in consumer decision making. Most e-commerce portals have reviews for the products as well as sellers that consumers can refer to before placing the order. Hotel aggregators show the hotel reviews before booking. Whereas service aggregators have nood reviews, for service providers though they don’t always display them beforehand. For e.g. Ola and Uber allocate drivers based on location but the rating is only visible after they have been allocated. While for e-commerce reviews directly impacts sales, in latter the employer awards the employees using various schemes. Even local businesses that don’t have much online presence, have google reviews available and have reviews on local classified websites like Justdial.
Reviews help business as much as it helps the consumers. They provide transparency in the business ecosystem and increase trust among the customers and sellers. As our immigrant population grows, the traditional local ‘word of mouth’ knowledge decreases and people rely more on these online reviews to select services and products. True, some brands have a nationwide presence and their service is standardized across different regions, but for lesser-known services and informal sectors, this information creates a balance in favor of consumers.
Businesses have recognized the importance of reviews and make every effort to create a positive online presence and sometimes even try to find loopholes in the reviews platforms to push for artificially created better reviews. The obligation lies with the review websites to ensure the authenticity of the reviews. Websites like Amazon & Flipkart do provide a ‘verified purchase’ tag while showing reviews.
In an interview, Zomato founder Deepinder Goyal said that they use an algorithm to keep fake reviews out of sight from the consumers. These efforts increase the credibility of such web portals along with the businesses. Websites also encourage consumers to provide ratings to the products and services by following up on the purchase. Consumers need to be more aware to rate the products and services responsibly. Good products and services must be rewarded with positive reviews and lack of them must be highlighted to the consumer communities
The viral form of feedback is a more reliable, authentic and essential source of information for a business to know how customers feel about their offerings.Check out the following eight reasons to determine why online reviews are essential for the success of your brand:They increase customer purchasesCustomers are more likely to purchase if they find out that other people are also in favor of your business.
Reviews are the primary driver of commerce that help increase customer purchases.
That is why they have a direct impact on sales.They highlight your market presenceYour brand can never achieve success if it lacks market presence.
It has now become a norm to check rankings on popular search engines such as Google, Bing and Yahoo, before deciding whether to buy from a business or not.
It will boost your SEO rankings.
It will help you improve your offerings and serving your customers more competently.They create brand loyaltyYou can expect that your customer will come back for more purchases if he/she takes time to leave positive feedback on, say, Google or Yelp.
Introspective Market Research, a prominent market research firm in its own industry, has published a detailed report on Global Secondary Tickets Market.
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This study provides a comprehensive summary of the marketplace dynamics which are anticipated to influence the sector in the coming decades.
The analysis clarifies the variables on expansion and the evolution of the market's effect.Product Segment Analysis: Offline Platform, Online PlatformApplication Segment Analysis: Sporting events, Concerts, TheatersRegional Segment Analysis: North America (U.S.; Canada; Mexico), Europe (Germany; U.K.; France; Italy; Russia; Spain etc.
The changing market dynamics, market revenue, and the market shares play a major role in affecting the market dynamics in both positive and negative ways.What are the market factors explained in the report?
The study includes historic data from 2015 to 2020 and forecasts until 2026 which makes that the reports an invaluable resource for industry executives, sales, advertising, and product managers, advisers, analysts, and different individuals trying to find key industry data in readily accessible records with demonstrably presented in tables and graphs.
Online reviews are essential because they have become a reference point for buyers; it keeps control of the business’s online reputation.
Let’s know some of the important reasons why it is crucial for your business success and why it is so important.
