Online Business Reviews and their importance for Local and E-Commerce Businesses

March 2, 2012 - PRLog -- One integral part of running an e-commerce store or any local business is managing your Online Reviews!

Online or (3rd Party/User Generated) reviews provide potential customers with valuable ratings, feedback and display that your business is credible and reputable.

Entrepreneur Magazine reported statistics that 80% of people say that their purchasing decisions have been directly impacted by reviews.

Marketing Experiments Journal conducted an experiment where product conversions with and without product ratings were tested. Conversions nearly doubled when a product displayed a 5 star rating.

Internet Marketer Justin Harrison recently exclaimed "I recommend to all my clients who have an internet presence (especially e-commerce) to sign up with an online review company. The latest website that I have found to be the most promising and most inexpensive is http://www.VerifiedHonest.com.

Although they don’t display their pricing until you sign up for a free account, it’s only $30/mo for their starter package. Their competitors charge $50/mo and up.
I would highly recommend for any e-commerce entrepreneur or any small business with an internet presence to sign up with a 3rd party review website! And I highly recommend Verified Honest."

As for negative reviews:  

According to a recent e-commerce study, which polled 248 people  "A high proportion of negative online consumer reviews elicits a conformity effect. As the proportion of negative online consumer reviews increases, high-involvement consumers tend to conform to the perspective of reviewers, depending on the quality of the negative online consumer reviews; in contrast, low-involvement consumers tend to conform to the perspective of reviewers regardless of the quality of the negative online consumer reviews."

In a nutshell, the more negative reviews you receive online, the more people jump on the bandwagon and leave even more negative reviews.  It's the snowball effect!

With an ever-evolving online atmosphere, it's time that your business take note and start managing your online reviews.  Start with a free account at www.VerifiedHonest.com.