The purchases that are made by clients and the profits a company are significantly affected by the power of the crowd. Most consumers get opinions on products by reading online crowd-sourced reviews. People trust the reviews that they get from past users of a commodity as much as they would believe in a recommendation that they get from their families and friends. Top brands in the e-commerce sector are currently focused on using the online reviews as part of their marking strategies. Fabletics is among the companies that are committed to utilizing the tactic, and it has attained a 200 percent growth from since it was established in 2013. The firm has a revenue of over $235 million, and its website currently has over one million active subscribers. The current corporate marketing officer of Techstyle, Shawn Gold, believes that the fast growth of Fabletics has been facilitated positive reviews that it receives from clients.
Fabletics knows the impact of having positive reviews from shoppers and has been capitalizing on this to ensure that it attracts customers. According to the firm, consumer reviews determine the loyalty of the clients, customer acquisitions, and retentions. Many people have access to the internet in the current world, and this has made them depend on online reviews whenever they need to buy a product. According to BrightLocal’s research, 84 percent of the people take online reviews seriously. The consumer behavior has changed, and very few people believe in the traditional advertisement methods.
L2 recently conducted a study, which indicated that 76 percent of well-established companies had featured customer reviews on their websites. This has enabled them to increase their sells and revenue. Businesses that receive positive reviews from clients have high chances of being successful. According to recent research by Vibes, only 33 percent of people who search for products on the internet are interested in comparing their prices. Over 65 percent of consumers who focus on reading reviews and getting well informed about the products that they would like to purchase.
Companies that have received genuine online reviews from clients improve their bottom line. Such businesses have top search engine ratings, are appealing to new customers, and they make great returns. Enterprises that have developed review-based approaches have high client loyalty and return ratio. Google has partnered with review websites such as Trustpilot to improve the rank companies in the search engine depending on the rating that they receive from clients. Consumers are 17 percent more likely to click on advertisements that have Google Seller Rating than those that do not.
Another BrightLocal research shows that individuals have 74 percent more chances of acquiring a product due to the influence that they get from its positive consumer reviews. Fabletics believes that crowdsourced opinions have assisted in its growth since they are very transparent. The company is devoted to making sure that it offers products that are liked by its clients. It stocks fashion products based on customer opinions and data from different sources.