According to a new studies released by Jupiter Research, “77 percent of online shoppers use consumer generated product reviews/ratings and those who find them useful are more loyal to stores with reviews/ratings featured.” Other research reveals that “consumers who post feedback on forums, positive or negative, spend 22 percent more online than do consumers who have not posted on forums.” And somewhat surprisingly, “90 percent of large companies believe that consumer recommendations are important in influencing other consumers’ purchase decisions.”
The issue for many companies is how to consistently track consumer generated reviews and incorporate that voice of the customer component into their product innovation processes. There are literally hundreds of sites where people leave their feedback. Amazon provides product-specific searchable consumer generated reviews, but many other popular online stores, like NewEgg do not enable that level of searchability.
(Via Customer Listening Blog)