You may remember our post a while back outlining the biggest problems with online reviews. It describes how the online review industry has exploded to the point where consumers face a muddled landscape when trying to use these reviews to make purchasing decisions. It’s also no secret that there is an increasing amount of companies looking to game the system by manipulating organic search results. But a simple endorsement still holds a high level of value, especially when submitted through a trusted platform.
The first thing many potential customers will look for is some kind of social proof of your product or service. Aside from word-of-mouth recommendations from a friend or relative, online testimonials provide the best insights into exactly what a customer can expect. At Wyngspan, we like to call these endorsements “Trusts,” and for good reason. Businesses need to build a strong reputation and trust to be successful and increase the bottom line. In the business world this is referred to as “web credibility.”
Credibility is the foundation of a good business. Endorsements are the best conversion tool for businesses, of any size and industry. A product or service can typically be evaluated based on three categories: time, quality, and price. Imagine a triangle, with each point representing one of these categories. Ideally a service will be of the highest quality for the lowest price and delivered in the shortest amount of time. In the competitive landscape, accomplishing all three would be near impossible. Reviews tell a potential customer what can be expected. Without trustworthy endorsements, how can someone with no experience with your product know which factors you are satisfying? Most likely you will lose the sale to a competitor with a high number of quality trusts because this information carries more weight than brand messaging.
Review sites show no signs of slowing down. The percentage of people checking reviews before making a purchasing decision continues to grow each year. According to a survey conducted by dispute resolution firm PeopleClaim, seventy percent of respondents check online reviews before making purchasing decisions and sixty-three percent are more likely to buy from a site if it has reviews. Being able to showcase reviews has transformed from a best practice to a necessity.
Traditionally the filtration process of evaluating reviews has been left to the consumer. Because individuals hold and realize different biases, people’s decision-making processes will vary from one to the next. Due to this unavoidable reality, sophisticated algorithms are needed to mitigate the amount of misinformation. Wyngspan’s algorithm considers many influential variables in order to deliver the most trustworthy information and provides an intuitive platform for businesses to showcase their Trust Factor. Users are also able to connect with friends and family to see which services they recommend. No anonymity. No false reviews.