How Customer Reviews Enhance Credibility - 853 Words

How customer reviews enhance credibility Let’s turn the attention to looking more specifically, how customer reviews can boost credibility. This section together with the tips in the following section will help you make the most of public reviews. Customers value transparency they trust each other Studies have repeatedly shown how customers value transparency. Since an increasing amount of shopping now happens online, customers have a limited ability to check the product or service prior to the buying decision. The ability to read real life experiences of the product will naturally provide the consumer a ‘second-hand’ experience and give valuable insight into the product. As we mentioned above, above 60% of consumers prefer websites, which have customer reviews. Reviews aren’t only important in the retail business either. In a TripAdvisor study, over half of the respondents said they wouldn’t book a stay in a hotel with no reviews. Websites that don’t show reviews are considered less informative. Simply by allowing reviews on the website, you can make your business image more transparent and therefore trustworthy. Customers are also falling out of love with the traditional sales pitch. It’s much more effective to hear about the product and service from another consumer like them. It provides a more personal feel about the product and adds authenticity to the experience. It is much more convincing to hear about the positives of a certain beauty product from peopleShow MoreRelatedSocial Media, No Matter The Size864 Words   |  4 Pagesis without a doubt the new kind of business. However, small businesses are falling behind because even though they use these platforms personally, they wonder how these same tools used for entertainment, can be used to enhance the business. What they don’t realize is that social media gives them a whole new way of communication. Customers like to be heard; with bigger corporations this is just not possible because they simply â€Å"don’t have the time.† Imagine having the job of writing back to thousandsRead MoreArticle Review of David Aakers Secrets of Social Media Revealed in 19661037 Words   |  4 PagesBusinessweek article review Aaker, David. (2012). Secrets of social media revealed in 1966. Businessweek. Retrieved: http://www.businessweek.com/managing/content/jun2011/ca20110617_657629.htm According to the article Secrets of social media revealed in 1966 by David Aaker in Businessweek, many of the current principles embodied in Internet marketing were known amongst savvy persuaders even before the current technological age. 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On their Twitter page @CocaCola the brand continuously builds better experiences for their customers by replying to customer complaintsRead MoreApplication of Raroc Model in Bank System Literature1165 Words   |  5 Pagesand risk match, reflecting the differential treatment of loans to customers of different risk levels,Certain extent to solve the single pricing conditions, adverse selection of loans to customers (adverse selection) problem, enabling Bank loan customers to optimize and rationalize the risk-Foreign RAROC theory is more focused on how Application of RAROC management of credit risk and economic capital in preparation. 2.literature review NealM. Stoughton and Josef Zechner insist the RAROC and EVA