More Evidence Shows Community Drives Product Sales

23 07 2007

In my stack of old newspaper clippings, I ran across a 2006 Forrester Research survey that further demonstrates the power of online community to boost customer interaction and purchasing.

Customer created reviews are becoming significant tools in a marketer’s arsenal. Among North American adults and youth (ages 13-21), Forrester found dramatic customer participation among the following sources of online content for adults and youths:

  • Customer product ratings and reviews (71% adult/81% youth)
  • For sale listings with seller ratings (69%/77%)
  • Online classified ads (57%/66%)
  • Message board posts (57%/71%)
  • Weblogs (55%/67%)
  • Peer-generated and peer-edited reference information (49%/68%)
  • Peer-posted event listings (46%/71%)

Such activities not only enhanced sales by sites that offered them but also boosted their search rankings since the search engines can pick up the content of the reviews. Comparing results from other types of reviews from print or direct mail, online product reviews by customers were trusted more by consumers. TV reviews were only slightly more trusted.

A Jupiter Research study found that consumers are referring to online reviews twice as much as in their previous study.




One response

23 07 2007

The subject of this article is exactly why I created First, iQmer is not consumer reports. It is “web-based word of mouth” which means it is not as much about rating and ranking as it is about having access to the opinions and advice of others within a circle of influence. Right now iQmer is just being launched so we are focusing on content. Our meditate development plans include iQmmunities. This will be a profile link tools that allows people to link friends and family profiles. Invitations and requests to link with other profiles will also be available. Finally, the search functionality of the site will soon allow searches based on profile data. In summation, the difference between iQmer and any other review website is:
#1: iQmer is not trying to sell anything other than the fact we are all MUCH smarter and much more efficient through collective consumer intelligence. We are also not trying to induce reviews with any payments or revenue sharing plans because that seems to alter motives and lead to irrelevance.
#2: A massive collection of rated reviews can be a little helpful. A selective collection of rated reviews can be more helpful. A local network of reviews from trusted friends, family and acquaintances is very helpful. Having access to a massive collection of rated reviews, a selective collection of rated reviews and 24/7 access to reviews and advice from a local network of friends, family and acquaintances in a very user-friendly, pragmatic format that allows and promotes easy analysis and comparison…That goes beyond helpful…That is advantageous, valuable and time saving. That is iQmer.

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