Star Power: Study Calculates the Dollar Value of Online Reviews Adrienne LaFrance, The Atlantic Apr
Corporate messaging matters, but word of mouth rules.
We don’t trust brands. We trust people. It’s always been this way. And yet the Internet has changed the way we find and respond to other people’s opinions about the products they buy.
Word of mouth has become a business of its own. Brand-consumer interactions play out publicly, and reviews are everywhere. We’re not just recommending restaurants anymore; we’re advising one another on which city bus is the cleanest and which dog park has the least poop in it.
We know that online reviews matter because people use them to make decisions. Businesses routinely ask customers to “like” them on Facebook, or leave positive feedback on sites like Yelp. And, obviously, blistering reviews are ubiquitous. (Ask me about that time a former employer put me up at Hotel Pennsylvania when I first moved to New York.)
But how exactly does all of this chatter affect the bottom line for the business being praised or picked apart?
A new study by social analytics firm ShareThis and the Paley Center for Media quantified exactly how much more people were willing to pay for products — iPads, cars, various ingredients for recipes, and so on — based on reviews they encountered in person and online.
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https://www.yahoo.com/tech/why-your-enthusiastic-tweet-could-be-worth-over-20-to-84290598544.html
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Recent Comments
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The problem with reviews is that you can buy them. My girlfriend does this for a living. She read a book and, no matter how much she likes it or not, she is forced to give a 4 star or better on a 1-5 review!
I don't trust reviews anymore unless they are from CNET or a believable source!
Some reviews are great, others aren't so great! For me, being somewhat of an old timer, I trust friends and family first and foremost. Then I trust the ordinary common consumers reviews, sometimes, and lastly, in which I don't trust their reviews at all, are celebrity's and famous people, I just have this feeling that the celebrity's and others alike, are being paid to offer their opinion! Nice post Warren!
I do not know why I had not rumbled this before, so are good reviews now the province of the equivalent of political lobbying?
"If you don't like your reviews, I can sell you some more..."
LOL, but not LOL
They really are, When a book is released on Amzon, the first 10 to 15 reviews are paid for. At least when you release with the 2 companies my friend works for. I remember when I was looking for an honest place to study, I was offered a system that would clean up reviews for merchants. If I could bring myself to be that dishonest, I would probably be making money, but experiencing no satisfaction!
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