Tag Archives: customer satisfaction

Do Shoppers Really Believe Customer Reviews?

26 Sep

As marketers, we have become increasingly knowledgeable about the power of online customer reviewers. And we recognize that many shoppers place more weight on these reviews than on company-sponsored communications.

Let’s look at some research by Trustpilot, a customer review consultant to business.  According to eMarketer:

“In early 2016, Trustpilot surveyed 1,132 Internet users ages 18 and older. In all, 80.7% said reviews were somewhat or very important to their purchase decisions. Few users said reviews did not influence their decisions when deciding on a product to buy. Just 4.7% said reviews were somewhat or very unimportant.  When it comes to when users are most likely to read reviews, roughly half said it’s while they’re on a site, before adding the item to their cart. Nearly a quarter said they were more likely to read reviews earlier in the process: while on a company’s Web site, but prior to actively shopping. Another 18.5% read reviews primarily before visiting a company’s Web site at all.”

Stage of the Buying Process During Which US Internet Users Are Most Likely to Read Reviews, Feb 2016 (% of respondents)
 
Retail Touchpoints wrote this about Trustpilot’s research:

“While the majority of consumers believe online reviews help them along their shopping journey (88%), only a fraction of these customers (18%) actually trust that all the information contained within the reviews is valid, according to Trustpilot. This significant gap reveals that it is critical for businesses to not only incorporate online reviews into the shopping experience, but to deploy them in a way that will build trust and transparency with the consumer. To close the gap between those seeking out trustworthy online reviews and those who believe the reviews are fully authentic, Trustpilot recommends that retailers gain a greater understanding of how shoppers read, write. and believe in online reviews. Half of consumers feel the overall rating of a review or a high-level, easy-to-understand aggregation of a company’s feedback to it are the most important factors when it comes to reading online reviews. Additionally, 20% cited how recently the reviews were posted as the most important factor, while another 20% said the number of reviews posted for a product is more relevant.”

“The report identified several best practices to help businesses create more trustworthy customer feedback strategies, including: ensuring online reviews are easy to find and showcasing them to customers during every step of the shopping experience; giving customers a forum for reviews and inviting them to leave their opinion; responding to negative feedback in real time; asking the customer to update their reviews once the situation is resolved; and analyzing sentiment to continually improve business and products.”

 

Here is further information and advice directly from Trustpilot: an infographic and a YouTube video.

 

 

 

Americans Don’t Trust Mass Media

20 Sep

Yes, the mass media have been criticized in many quarters for their coverage of the 2016 presidential campaign. But the issue of trust goes far beyond political coverage. It deals more directly with the competition from nontraditional media that has led to (1) more “got you” stories, (2) the quest to be first with a story even if not certain about the facts, (3) the focus on headlines more than content, and much more.

According to a new survey by Gallup:

In 2016, “Americans’ trust and confidence in the mass media ‘to report the news fully, accurately, and fairly’ has dropped to its lowest level in Gallup polling history, with 32% saying they have a great deal or fair amount of trust in the media. This is down eight percentage points from last year.”

Gallup began asking about media trust in 1972, and on a yearly basis since 1997. Over the history of the entire trend, Americans’ trust and confidence hit its highest point in 1976, at 72%, in the wake of widely lauded examples of investigative journalism regarding Vietnam and the Watergate scandal. After staying in the low to mid-50s through the late 1990s and into the early years of the new century, Americans’ trust in the media has fallen slowly and steadily. It has consistently been below a majority level since 2007.”

 
Click the chart to read more.

 

How Effective Are Social Media?

9 Sep

With virtually every large company — and many mid-sized and small firms — now involved with social media in some question, one of the big challenges that remains is: How can we measure the effectiveness of social media? Yes, we can rather easily track the number of likes we get and generate reports on comments at social media sites. But how can we measure return on investment (ROI)?

To help address the effectiveness of social media, Duke’s Fuqua School of Business recently conducted a study of chief marketing officers (CMOs) at a number of companies.

As reported by eMarketer:

“Social media ad spending continues to grow in the U.S., with eMarketer forecasting the format will make up more than 20% of digital ad spending by 2017. Yet even as marketers’ social media budgets increase, many are still struggling to make sense of its overall impact on their business.”
 
“Based on an August survey of U.S.-based CMOs by Duke’s Fuqua School of Business, executives from across the business-to-business (B2B) and business-to-consumer (B2C) sectors are still figuring out how to gauge the true effect of social media on their business. The problem is more pronounced for those in the B2B sector, where nearly half of respondents haven’t yet been able to show the impact of social media. Many in the B2C sector have had better luck showing the qualitative impact of social, although 60% or more of CMOs still they did not know the channel’s quantitative impact.
 
Take a look at the two charts on the Duke study from eMarketer. See what CMOs say their companies are doing to assess social media effectiveness.
 

 


 

A Fun Infographic on Scheduling Daily Activities

7 Sep

How do we spend our time during the day? Do we plan these activities in advance? Are we obsessive about sticking to a schedule? Do we succeed in completing our activities every day?

Consider these observations from Jennifer Gueringer, writing for the NetCredit blog:

“From breakfast to bedtime, we are creatures of habit. For those of us with a more settled lifestyle, our schedules remain consistent from day to day for weeks on end. Chances are, though, your routine has taken shape without much forethought — or at least without the kind of scientific insight that can help to maximize energy levels, productivity, and happiness. If this is the case, it could be time to rewrite that schedule with more attention to how the time of day affects your body, your colleagues’ moods, and even the outlook for your dog.”

“If you like to ease yourself into the day, your new regime may take a bit of work. Exercising before breakfast has been shown to help with weight loss — and that doesn’t mean you can shove breakfast back to 11 A.M.! No, breakfast is a dish best served within an hour of waking if you want to kick-start your metabolism. If that’s all a bit of a shock to the system, you may want to check in on Twitter before you leave for work. Studies have shown that’s when the happiest tweets hit the press — a perfect post-workout pick-me-up.

 
Take a look at NetCredit’s infographic on “The Peak Time of Day for Everything You Do.” [It’s a little — ok, a lot — rigorous for me. 🙂 ]

Courtesy of: NetCredit

 

THREE Infographics to Help Improve Customer Satisfaction

1 Sep

As we know well, the minimum requirement for consumer loyalty is customer satisfaction, a concept that needs to be thoroughly understood and sought by companies.

Recently, Salesforce developed the three infographics shown below on customer satisfaction and how to improve it As reported by Ritika Puri:

“Customer satisfaction is one of the toughest, most abstract concepts to capture and measure. Satisfaction is often in the eye of the beholder, and if you’re using a tool like a survey, you’re relying on self-reported data that presents only one side of the story. In addition, “success” is multi-faceted: A customer may be happy overall, but there may be some hidden deal-breakers that are hurting your retention metrics. So how do you tackle this challenge and improve your customer satisfaction scores?  Measure success from a few different dimensions. In addition to understanding why your customers are happy, you should focus on specific elements that contribute to overall success.”

 


 

TV Interview on Database Marketing

21 Jun

This television interview of Hofstra University’s Professor Joel Evans (from the Zarb School of Business) recently appeared on Fios1’s Money & Main$treet program. The interview was conducted by host Giovanna Drpic. It deals with several aspects of database marketing — from a small firm perspective.
 

 

Where Do YOU Stand on Ride-Hailing Apps?

24 May

During the short period that they’ve been operating, ride-hailing services such as Uber and Lyft have revolutionized the taxi and related-service businesses. Uber alone has handled well over a billion rides since its founding; and it is located around the United States and around the globe.

Yet, despite the growth of Uber and Lyft, they are NOT as popular as some people believe. Here are interesting observations by Felix Richter, writing for Statista:

“Do you stand on the side of the street to hail a cab or do prefer to use technology? A new Pew Research study has found that the vast majority of Americans have not used ride-hailing apps like Uber and Lyft. Despite their increasing prominence in media circles, 51 percent of U.S. adults haven’t heard of such apps while only 15 percent have actually used them to hail a cab.”

 
Take a look a look at the following Statista chart.


 

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