Leveraging the Voice of the Buyer

After much research Channel Signal has come to the conclusion that, 5% of buyers generally write product reviews.  Now, this percentage varies widely and depends on price and momentum (either positive or negative). But, again, across all products that number lands at 5%.

Now if 5% of buyers write the reviews and 90% of consumers read them when considering a purchase, wow! That’s leverage a brand can use. Brands are constantly discussing among themselves how to increase their return on investment through advertising, social media, grass roots exposure like festivals, and brick & mortar incentives. Meanwhile, the buyer broadcasts their opinion to thousands of consumers considering a similar product.

The buyer is a brand’s best salesperson, or worst detractor.

And measuring this 5% means brands can measure what is read and believed by a vast amount of Americans. It means buyers will direct you on which products to fix, which products are early winners, how your customer service is doing, and what language to lift from the positive reviews for marketing messaging.

The Voice of the Buyer affects Sales, Marketing, Product Development, Customer Service and Senior Management. And for once Senior Management can hear the true voice of the customer experience, capitalize on the positive, fix the negative and bring a new perspective to board meetings.

Most senior management teams are now telling their boards that they are getting closer to the consumer. Product reviews are the data that brings the consumer closer to all parts of a company.

What to do with Reviews

2017 Case Studies

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Fresh Signals Blog

Consumer Reviews – Online Returns

Product returns do not always have to have a negative connotation. Too often, the phrase “I need to return this” brings thoughts of a bad purchasing experience. No one wants…

Return Policies Affect Consumer Behavior

Consumer Behavior Consumer shopping habits are changing as brands refine their return policies making it easier than ever to return product. Your home has become the new dressing room. With…

All You Need Is Love

The State of Affairs There has been a lot of data about consumer behavior this holiday shopping period. Cyber Monday turned in $10.8 billion last week, a record high…the early…