A lot of successful brands are leveraging the power of the crowd. What does this mean and why are they doing it? To get started, the power of the crowd refers to the power of user generated reviews. In the age of the internet, this is very prevalent. Anyone can look online and read reviews of any company that they want to find out information about. In fact, most people are doing this. Consumers who are savvy are now looking for user reviews online before almost every purchase. In fact, over fifty percent of consumers reported looking for online reviews on a regular basis. A regular basis means at least once a month. In addition, people trust these reviews. They trust them a lot. In fact, eighty four percent of people who took a survey said that they trust online reviews as much as they trust a recommendation from a friend or family member that they know.
User generated reviews can really help your business. For Fabletics, it proved invaluable. Fabletics has grown over two hundred percent since it first started not long ago. The head of marketing at Fabletics says that this success can only be attributed to their leveraging of the power of the crowd. Lest you think that companies aren’t really doing this, think again. In fact, over seventy five percent of the top brands said that they are leveraging the power of the crowd. As mentioned, Fabletics is a prime example of how tapping into the power of user reviews will help boost your revenue.
How does having a lot of positive reviews help your business? First of all, it generates trust and loyalty. When people see good reviews about you online, they are more likely to trust you. This means that they are more likely to make a decision to purchase from you. For your existing customers, it will increase loyalty. This means that if someone buys from you, they will be likely to buy again. You will have more repeat customers just by having positive reviews.
However, the benefits of online reviews do not stop there. They definitely help you get more customers by increasing your online traffic. Positive online reviews is important in any good SEO strategy. When Google sees that you are popular and that there are a lot of online reviews that are praising you, they will boost your rankings. That is one reason why Fabletics had such a great growth rate.
Kate Hudson is a well known actress and is a vocal supporter of the Fabletics model. She was on board right from the beginning. She helped oversee their growth and advised them about various strategies that would help them grow, including leveraging the power of the crowd. Another one of her innovations was making sure that communication was clear between Fabletics and their consumers. She knew that having open communication with your customers is key to making them satisfied with your work. Eventually, Fabletics grew by two hundred percent and got a top rating with the BBB.