Online customer reviews are crucial for the success of businesses in today’s digital age. Companies are increasingly recognizing the importance of managing their online reputation and using customer reviews as a marketing tool. A recent study by Splendid Medien AG, a market research company, surveyed 1,503 participants between the ages of 18 and 69 to examine the relevance, trustworthiness, and popularity of 49 review portals and five online seals. The study found that nine out of ten users consult various review portals before making a purchase, and online reviews are among the most important decision-making factors for consumers.
The study also revealed that customers who are satisfied with a product or service are more likely to leave a review than those who have had a negative experience. However, negative reviews can be addressed by companies through proactive measures, such as responding to the customer’s concerns and resolving the issue. Unfortunately, only a third of affected companies take advantage of this opportunity to protect their online reputation. According to the study’s lead researcher, Nastassia Khankevich, companies can improve their review profile and gain a competitive advantage by taking a proactive approach to managing their online reputation.
The study found that customer reviews are particularly relevant when consumers are deciding between two companies. Negative reviews can cause companies to lose customers, as four out of five Germans have decided against a purchase due to negative reviews. The study also revealed that hotels and travel (70%), electronics and appliances (67%), and restaurants (62%) are the most reviewed categories. Companies in the restaurant industry, in particular, need to pay close attention to their online reputation, as tourists and locals use different criteria to form their opinions. Khankevich emphasizes that companies should not underestimate the importance of customer reviews as a marketing tool and should take advantage of their significance in today’s digital landscape.
