Reviews can be so vital in the world of digital marketing. Trust is like a company’s reputation and can take a lifetime to build, and bad reviews will destroy the integrity of the brand. Studies have shown that it takes about 40 positive reviews to repair the harmful effects of a single negative review.
Ever bought something from Amazon? Of course, you have…unless you’ve been living under a rock. Amazon has taken the online marketplace by storm and became the average consumer’s first choice when ordering products online. From cosmetics to home goods, to electronics, Amazon literally has it all.
Amazon boasts an incredible 26.5 million transactions per day and currently has 310 million active customers. Odds are, you’re one of them!
I’ve been using Amazon for years and it is often the go-to, when you want to find the best deal, or price check an in-store purchase. Amazon is not always reliable in terms of quality, because they are a third-party marketplace. Which makes you susceptible to sellers with poor quality products. This is why reviews are so influential on Amazon.
About 88% of customers rely on reviews to make decisions when purchasing online and 90% of Amazon’s customers will not buy a product with less than 3 stars.
Typically, 10-20% of buyers on Amazon leave reviews. That sounds insignificant but consider this: of the 26.5 million transactions per day, 2.6M – 5.3M end up getting reviewed. Remember 88% of those buyers used reviews to decide on the product they chose in the first place!
All things considered; the consumer’s opinion drives many transactions made on Amazon daily. The average buyer does not realize just how much power they truly yield. Part of what makes Amazon such an innovative place to make purchases is the ability to get feedback from previous customers who purchased the item.
Your potential buyer has a chance to do a “background check” on merchants before they commit to buying. Your previous consumers have the power to help or hurt a merchants next sale. All this power resting with the buyer makes Amazon the unique marketplace it is today. When you take a look at Amazon in particular, you get a great example of the impact that reviews have on brands and businesses.