“It takes 20 years to build a reputation – and only 5 minutes to ruin it. “
This is a famous quote by an American business magnate and a successful investor, Warren Buffet. These are words to live by both professionally and personally.
Ever since the inception of Facebook, liking, rating, and commenting have become the norm. Getting users to share their opinions on various topics and events have now evolved into gaining valuable insight into commercial aspects of many businesses.
As most of you are already aware websites that offer products and services have integrated a rating and commenting systems for their consumers to share their experiences post purchase. Google Play, a popular portal where Android smartphone users can download apps, has this system. Ebay, a popular online store where anyone can sell and purchase almost anything one can think of, has this system as well. These are the big players in the ecommerce industry, many smaller companies offer similar features that aid the next customer in judging if it’s what they are looking for. Brands keep track of review websites to keep track of complaints their customers make and try to resolve them in order to keep them satisfied.
Being able to inform the brand what you think of their product is a very useful tool, how people use this tool is entirely another question. Firstly, there are those that provide genuine feedback, they will sincerely tell you what you have done right with the product, where it lacks, and provide suggestions or constructive criticism for possible improvements.
Then there are those that intentionally provide baseless negative feedback. These people have never purchased the product. Mostly they are a part of a competitor’s agenda where a number of fake accounts are made just to comment negatively, in hopes to deface a brand and discourage sales.
Online customer reviews have increasingly become essential to a business’s reputation. Before purchasing any product more customers first research the product online to see what other customers have to say about it in order to make a decision. Customers also visit review websites that provide detailed information and insight into a product.
Obviously, this makes a brand’s reputation quite fragile, reviews, rating and comments decide the credibility of a brand. Survey shows that 70% of the participants trust reviews, second only to people they trust. 80% of customers changed their mind about a brand based on the negative information they have found online. 85% of the customers research local businesses and restaurants online beforehand.
When writing a review 100% of the customers expect the brand’s to address their issue, of which 90% won’t return if the issue remains unsolved. However, 95% of unhappy customers return if the issue is resolved quickly.
As this information highway is travelled by billions, how can one trust the words of random people? Make sure to read more than three reviews in case you come across a biased review.