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How Customer Reviews Create Revenue

Posted by ConsumerAffairs
ConsumerAffairs

With Revoo reporting an “18% uplift in sales” due to reviews, it’s no surprise that executives at top companies use review collection to increase revenue. The power of social proof has been demonstrated repeatedly through the high rates of return customers as well as the steady acquisition of new customers. Consumers trust peer-to-peer testimonials and are more likely to invest in a product or service that others have purchased. Take advantage of review collection to increase revenue.


  • Leverage customer reviews across social platforms, web pages, and even print copy.
  • Use video, images, and text to promote customer testimonials.
  • Interact with customers to reinforce quality feedback.

Incorporate review collection into your marketing strategy and increase product sales while boosting brand credibility and overall revenue.

 

How Review collection creates revenue

The ongoing cycle of review collection followed by engagement creates a steady stream of social proof. This feedback drives customer referrals and encourages leads to convert. Companies who increase the number and quality of reviews while responding to each comment see their revenue improve across the board. Review collection creates revenue by engaging customers and boosting consumer trust which raises conversion rates.


  • According to the Institute of Customer Service, “highly-engaged customers spend 60% more per transaction.” By interacting with customers offering feedback, you’ll increase sales year after year.

  • BrightLocal reports that “Consumers are likely to spend 31% more on products/services from businesses that have excellent reviews,” suggesting that higher ratings boost overall sales numbers.


Review collection enables companies to build their reputation with a reliable stream of user-generated content. As the amount of feedback increases so does sales. Countless methods of sharing social proof exist. There’s no reason to reinvent the wheel. Instead, put your brand’s spin on what’s proven to work for others.

 

Examples of companies who increased sales via review collection

Simply getting more social proof, while helpful, isn’t enough to make your sales numbers jump. Successful businesses leverage customer reviews across multiple platforms for maximum visibility.


Yandy. According to the Search Engine Journal, the Lingerie retailer Yandy was facing unsustainable Facebook ad costs. By switching to ads featuring user-generated content, like reviews, they generated “70% more sales.”


StoreYourBoard. A month after StoreYourBoard optimized their review system, they reported that “their revenue for search traffic jumped from $1.5K to more than $30K.”


161 Driving Academy. By using real photos of customers instead of stock images, this company increased its conversion rate by 161%.


Bryan Harris. SleekNote reported on the incredible success of a video documentary that focused on customer testimonials. Bryan Harris saw “revenue go from $900,000 to $1.5 million in fewer than 12 months.”


Engaged customers turn into brand ambassadors who refer your company over and over again. By using review collection and displaying these testimonials across social media, you’ll develop stronger customer relationships. As reviews increase, so does your search engine ranking. As a whole, review collection drives traffic, increases credibility, and raises sales.

Tags: Customer Reviews