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Brant Barton -- BazaarVoice -- 'Ratings, Reviews & ROI: How Leading Retailers Use Word of Mouth in Marketing and Merchandising'
According to Brant Barton -- with nods of approval from the rest of the room -- when it comes to marketing endeavors, instant gratification is what everyone wants, and it's the hardest thing to get. But by implementing customer ratings and reviews into the websites of such consumer retailers as Petco, Burpee, CompUSA, Golfsmith, and Basspro Shops, BazaarVoice was able to show these clients how allowing consumers to provide the "marketing voice" to other consumers was the best way to leverage satisfied customers and improve conversion rates.
According to Brant, some of the distinguishing factors about customer reviews and ratings -- the things that make it more effective than your average marketing babble -- are that the reviews are:
* Unique: They lack the "polish" of marketing copy and are, therefore, more reliable to other consumers.
* Authentic: Consumers can say things about the product that marketers simply can not.
* Sought by consumers: People like to gauge the opinions of their fellow consumers ("people like me") before making a purchase.
* Focused on the purchase task
* Highly measurable
Also, consumer reviews increase search engine ratings, making the product in question more visible.
Brant claimed that using a customer ratings are reviews feature on a retailer's website:
* Reduces return rates and increases post-purchase satisfaction
* Allows companies to use feedback as a way to redesign or improve products and respond to consumer concerns
* Build deeper relationships with influencers
* Use participation to drive loyalty