A question that we often get is…How important are customer reviews?

There was a study done a few months ago where over 1,200 consumers were surveyed regarding the importance of customer reviews. The market has evolved into customers that are “Social Researchers” (consumers who actively, always or most of the time, seek out and read customer reviews prior to making a purchase decision), they can literally find out about virtually any product, at anytime, anywhere.

All of the people surveyed shop online at least four times per year, spending $500 or more annually.  The  study wanted to show how online shoppers used reviews to make informed buying decisions and give them the ability to narrow product selections based on reviews from like-minded consumers with similar interests.

Social Researchers were found to engage in the use of reviews across all behavioral areas at a rate 20% higher than average online shoppers:

86% of Social Researchers find customer reviews extremely or very important, vs. 70% of all online shoppers.

76% of Social Researchers find “top rated product” lists to be extremely or very important,  vs. 62% of all online shoppers.
64% of Social Researchers research products online more than half the time, no matter where they buy the product (store, web, catalog, etc.)
75% of Social Researches found it extremely or very helpful to narrow product selection based on feedback from people like them (with similar interests).

How much $ are you leaving on the table by not having your products reviewed by consumers?  Let me know through the comments if you want to find out how to get rating software for FREE.