by Bazaarvoice, Inc.
Bazaarvoice, Inc., a provider of product reviews and user-generated content solutions, released its latest research, based on a survey of more than 10,000 global shoppers. The report explores the effect fake reviews and authenticity have on customer trust, and the subsequent actions shoppers take based on that trust.
Fake Reviews Are Agitating Customers
According to the report, over a quarter of respondents want brands and retailers fined for fake reviews. While fake reviews on their website may seem like an easy way to gain new customers, they actually very much hurt businesses — and their bottom lines.
“We are well aware of the importance of user-generated content and the need to ensure that it is genuine and authentic,” Nicolas Fillat, Marketing Business Leader of Customer Care and Feedback at Adeo, said. “To do this, we need a trusted third party and a partner with significant functional experience and expertise regarding reviews. Our partner Bazaarvoice comprehensively delivered on those requirements.”
More survey highlights include:
Fake reviews break trust:
- 52% of consumers said fake reviews make them lose trust in the brand.
Loss of trust is costly:
- 81% said they would avoid using a brand again after losing trust in it.
- 48% would leave a negative review.
- 16% would post about the company on social media.
One fake review spoils them all:
- 75% said that if they notice a fake review for a product on a site, it would impact their trust in reviews for other products on the same site.
It spoils the sale as well:
- If they suspect fake reviews; 56% would not buy the product.
- 50% would not trust the brand.
- 34% would not trust other reviews.
- 25% would not buy from the site.
People actually like negative reviews:
- 85% think negative reviews are either as or more important than positive ones.
They want rules for fake reviews:
- 70% think the retail industry needs a new set of standards to combat fake reviews.
- 59 % want standards to dictate that only verified customers be able to post reviews.
- 56% want all products be tried and tested among legitimate consumers before launch.
- 49% want daily reviews of customer content to weed out fake reviews.
- 40% want websites to publish the reviews process or third party they use.
They want consequences, too:
- 27% of people think revenue should be fined as punishment for brands in breach of these standards.
They do not know what current laws are:
- 48% said they have no idea what their consumer rights are when it comes to fake reviews.
When user-generated (UGC) content is trusted, it sells:
- 42% of people trust UGC when used in an ad. In fact, consumers would like to see UGC everywhere they shop online.
“Brand trust is one of the most valuable assets on the balance sheet,” Zarina Stanford, Bazaarvoice CMO, said. “Harnessing the power of the voice of the customer is crucial for today’s always-on commerce. Authentically posted reviews, both positive and negative, is by far the most powerful way to utilize the voice of your customer to earn trust and purchase conversion.”