Like it or not, online reviews are here to stay. They will continue to become more impactful, fuelled by today’s highly empowered customers who turn to their fellow buyers for their insights into products and services. Published figures show that 93% of consumers today admit to being influenced by online reviews, proving how persuasive customer feedback really is.
For 2021, there are numerous trends to watch for, some of them we have collated in this blog. Here are a few of them:
- 5-star and 1-star ratings: Last year, a closer examination of the reviews left on a major business review site saw a rise in 5-star, which is equivalent to excellent, and 1-star, which translates to poor, ratings. The growth reflects that people who are either most satisfied or most unsatisfied with a brand are highly likely to leave their feedback. We can expect pretty much the same trend this year. Therefore, there is a need for businesses encourage more customers who are unaccustomed to giving their reviews to do so in order to get a more comprehensive reflection of your business.
- Video reviews: Video reviews have become popular amongst customers nowadays. According to an online article, people watch more than 100 million hours of videos per day. More customers, especially influencers, are predicted to create and post video reviews of brands to share their experiences. Businesses have been leveraging this knowledge by partnering with a customer with a solid fan base to review their products.
- Fake reviews: Nothing erodes a business’s credibility faster than fake reviews. Just as genuine reviews boost the trustworthiness of a brand, fake reviews can do the exact opposite. Many business review sites are fighting the proliferation of fake reviews to maintain the reliability and credibility of their platforms.
- Impact of online reviews: Customer feedback will continue to affect companies across industries this year and beyond. Online reviews are expected to gain strength in the years to come, as more and more customers rely on them.
It has been said that reviews serve as strong social proof for brands, greatly influencing other people’s decisions to either buy or take their business elsewhere. Thus It is important for companies to take these reviews seriously and be prepared to proactively respond and keep up with these trends.