Online opinions to real progress: how quick internet reviews improve companies.
Sept. 25, 2015
Technology has dramatically changed the processes of buying, selling and marketing.
Gone are the days when a customer could be convinced just by the genius creations of the Don Drapers of the world. Glossy magazine ads, television, radio, billboards, celebrity endorsements… all have been shouted down by a louder voice. The internet – and with it social media – have mobilised the world’s single most effective marketing instrument: word of mouth. Customers give prospective buyers an account of the real experience of a product of service: what is does rather than what it’s supposed to do. It has been shown that 88% of online purchases are influenced by reviews posted on the internet, thus revealing the importance of finding out about other people’s experiences to the modern day shopper. Not only do positive reviews of a product set it apart from its competitors, it also offers an insight into user experience.
As companies have begun to understand consumer power, so they’ve begun to leverage it. There are many ways in which modern technology and the internet has changed the way companies can show off their product through their consumers. The most obvious ones are of course reviews posted on the seller’s and independent review websites like Yell.com and Trustpilot.com. On top of this, buyers often express their opinions through social media platforms such as Facebook, Twitter and Instagram. Many brands have started to respond directly to their customers’ complaints through social media like Facebook and Twitter, resolving the issue swiftly (and sometimes hilariously). The promise (or threat) of immediate feedback has pushed sellers to improve user experience across the board – for fear of profit-damaging retribution from disgruntled customers. Complaints are dealt with quicker, and more likely to be resolved in the customer’s favour.
Bridging the gap between seller and buyer has another consequence, clearly evidenced in the strange phenomenon of recording oneself while removing the packaging of a brand-new product. ‘Unboxing’ has taken over YouTube, and has somehow turned into a million-dollar business for some. In many ways, this has changed how some retailers market their products. For instance, Disney has recently hosted an incredible 18-hour long unboxing marathon to introduce its new range of toys for their upcoming film, Star Wars Episode VII. Showcasing user experience has become a marketing tool in itself. As well as this, it is interesting to see how companies are developing marketing techniques and customer services by taking inspiration from the customers who review products using new technology. How many hotels now proudly display their latest TripAdvisor award?
Not only do online customer reviews help inform other internet shoppers to make a more educated purchase, but they also help the seller gain quick feedback on how their product is perceived, and in turn allows them to improve their product. Even without modern technology, businesses, services and organisations have always benefited from their customer’s thoughts; from hairdressing to healthcare, criticism is always considered imperative to move the service to the next level. In most cases, this leads to an improved experience that is better suited to the consumer’s needs and fulfils their expectations – if not exceeding them.
For these reasons, TransferGuru wants to be a platform to best inform customers about the real experience of service of money transfer providers. Not only can you use this site to find the best rates with which to send money, but you can also see other customers’ experience of these providers. Ultimately, we have no favourites, we don’t promote any providers in particular – our aim is simply to give you as much information as possible and let you make the best decision. So: over to you – if you have used any of the money transfer providers you see on our site, please leave them a review here. Not only will you make the decision easier for others, but you’ll also help the providers improve their service.
(In turn, if you like what we do – to give us a rating and let us know how you found our service!)