What do you think customers base their decision on when choosing a product from the many similar ones on the Internet?

According to a study conducted by Nielsen, about 73% of online shoppers read reviews before making a purchase decision.
Also, statistics show that reviews of the product (even with a low rating!) by 71% increase the buyer's confidence in the need to purchase it. This opens up one of the most converting tools, which can significantly increase sales for an e-commerce brand.

But let's look at how exactly do reviews impact sales?

Power Reviews research shows that 95 % of consumers talk about the impact of reviews on their purchase decision.
Customers read them carefully to find out the pros and cons of a product before buying it.
These reviews are helpful for comparing similar products, as well as allowing you to get a feel for and impression of a product you've only seen in photos and videos.

On Amazon, shoppers can even vote for reviews they found helpful. As the number of votes grows, Amazon begins to move reviews higher to increase their visibility. After this process, the top 8 most useful reviews are displayed, including both negative and positive reviews, regardless of rating.

It’s no secret that companies no longer control their brand reputation, consumers do. Advertising, social media banners, and promotions within marketplaces are undoubtedly important marketing tools as they have long been proven effective in promoting products.
However, reviews and ratings are a new-age marketing tool, and the best part is that they are completely free and generated by users.

Positive feedback from buyers can be widely used in promotion. Many e-commerce brands show the number of reviews and star ratings on marketplaces, as evidence of the quality of their products.

Most e-commerce brands believe that in order to successfully get their product to the front pages of the search results on marketplaces, they need to buy promotion of the product through advertising. But user-generated content, such as reviews, potentially destroys this myth.

In order for people to buy your products, they need to find them first, which is why increasing your rankings in marketplace search results is so important. The search algorithms of marketplaces use positive ratings and reviews as a benchmark to gauge the popularity of a product and seller. The higher the number of positive reviews and ratings, the higher the percentage rating a seller gets. That in turn compels the algorithm to place the seller towards the top of the search results page.

The good news is that the more frequently a seller gets to the top of the search results, the more likely they will stay there. The algorithm is designed to look for top results that it had previously presented for the same search query.

Customers are more likely to purchase from a brand that has customer reviews than a brand that doesn’t.

Reviews are a guarantee for buyers that they choose a quality and proven product, and affect whether the buyer will consider it for purchase at all. Thus, they make a significant contribution to improving conversion rates and the efficiency of your listings. When reviews of a product tell about its characteristics, online shoppers have a greater impact than what the brand itself tells them.

Power Reviews research shows that there are 50 % more consumers reading reviews after
Covid-19 than before Covid-19, and reviews are now 25 % more likely to drive conversions.

Unlike the physical store, marketplaces do not have an assistant to ask questions about the product. Since customers can't touch or review the product before purchasing, all they have is information and images on which they can rely and evaluate the appearance and quality.

Giving shoppers the opportunity to share their thoughts about the product, along with additional content in the form of photos and videos, helps build trust with them.
Interesting fact - even negative reviews can bring more credibility to your product. Readers are skeptical of reviews that are too positive and, in many cases, a negative online review is seen as more credible. It is equally important for a brand to give feedback to positive and negative reviews to maintain that trust.

Online customer reviews appear to be a great avenue for grabbing consumers’ attention and increasing sales. The importance of customer reviews is tremendous as they are very helpful to a vast majority of consumers, and they are also responsible for securing your online visibility in search rankings.
Furthermore, as they increase in importance and more competitors are encouraging customer reviews, your involvement is only going to become even more necessary.

If you want to know how to build a strategy to get feedback on the marketplace for your business quickly and easily - leave your e-mail and Good Goods managers will consult you.