Consumer psychology both offline and online has always interested me. If you think of the basics of 'marketing' - word of mouth is one of the most powerful mediums (in both positive and negative contexts). From positive perspective if a trusted 'influencer' advises you that a service or product is the right one for you - then you are 7 times more likely to purchase it. However, if you have a negative experience - then you are likely to advise at least 13 people - and warn them off that product / service.
These stats are largely drawn from off line consumer psychology - however, online, within the realms of the viral environment - then it's likely these inflate significantly. Offline, we may turn to our trusted 'influencers'; our friends, colleagues and family to offer advice and suggestions when considering a purchase or service. And online the same 'influencing' factors exist. Research has identified that 'testimonials' and 'case studies' add 'trust equity' to a site. And now more than ever, when online businesses are more SEO savvy than ever - it's not necessarily the best companies that get found by being on page 1 on Google.
Customer reviews (provided they are transparent and provide both the positive and negative comments) are an effective way to draw in customers, build trust and encourage conversions. As I've mentioned in previous posts, I'd like to see search evolve to include such elements into 'quality scores' (think eBay) - so that those that are performing well and providing great customer service are not only reliant upon customers to spread the word - but also search engines promote not just relevant but 'quality' service providers - too... A big call perhaps, but hey... nothing's impossible.
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Michelle Carvill is a Marketing Consultant and has been running Carvill Creative for the past 6 years. Working with a number of small and medium sized businesses - she shares her hands on experience - tips, news, view and advice. Visit her blog http://www.carvillonmarketing.com for more...
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