You know your prospects are checking out online reviews before they make buying decisions.
In fact, everyone knows how influential reviews are. Search Engine Land reports that almost 90% of consumers give reviews as much credence as they do personal recommendation and 95% of consumers report that online reviews regularly influence their purchasing decisions.
But, despite recognizing the importance of getting positive online reviews for your business, do you understand why consumers put so much stock in them? The answers can be found in the psychology of how we make purchasing decisions today.
No. 1: Consumers Trust Other Consumers
Consumers are currently experience soaring levels of distrust in companies of all types and sizes. And, although your prospects are less likely to distrust a small, local business than a mega-corporation, no business is safe from this growing skepticism.
What consumers do trust is other consumers. Certainly, everyone is aware that some unethical companies buy fake reviews but, for the most part, today’s consumers can spot a fake online review a mile away.
So, you can spend all your marketing budget on ads telling your prospects how great your product is but, at the end of the day, they’re much more likely to believe it when that information comes from someone who actually spent their money on whatever it is you have to sell.
No. 2: Enhanced Transparency
Delving deeper into the growing trend of consumer distrust, the issue of transparency compels many potential buyers to check out online reviews before making a purchasing decision.
Consumers overwhelmingly believe that companies intentionally do not share any information with the public that could make them look bad or taint their reputation. Because prospects automatically doubt that any company engages in full, open and honest communication with stakeholders, consumers feel they must look to other consumers to get to the truth.
No. 3: FOMO
FOMO, or fear of missing out, is an intriguing phenomenon in consumer behavior. It many ways, it relates to the natural human desire for social belonging and inclusion. But FOMO pushes prospects to read your customer testimonials and reviews in another, more powerful way – social proof.
Social proof is the aspect of our nature that looks to others to see how we should behave. If a prospect sees countless glowing comments from prior customers, it triggers a subconscious belief that they should follow suit. It can also trigger the fear of dwindling supply, further capitalizing on that FOMO feeling.
Gaining deeper insight into the consumer psyche helps to illustrate why it’s so important to have positive online reviews today. If you’re struggling to get your satisfied customers to provide you with reviews on Google, Yelp, Facebook and other digital platforms, consider seeking assistance from Accrue Reviews. Our unique online review management system makes it easy and intuitive for your customers to leave you reviews on the sites of your choice. Contact us today to learn more and to sign up for your free trial.