Sectors Where Online Reviews Have a Big Impact on Growth and Revenue

Growth and Revenue

When potential customers are able to access quality reviews online, they are more likely to take action on a product or service

The modern, tech-savvy world we live in today has largely transformed the way people purchase goods and services. This growing digital era has seen practically every business and company jumpstart their online presence, hiring experts to expand it with certain strategies and marketing practices in order to get a leg up against their ever-evolving competition.

Nowadays, many of society’s purchasing actions are made using a mobile or computer, rather than visiting a physical store. With the internet and these changing times, online reviews have become mainstream, as well as extremely important tools for converting a potential buyer into a happily served customer.

Although many modern businesses benefit from reviews in all their forms, here are a few specific industries that are arguably most impacted by these detailed written analyses.

Ecommerce

The Ecommerce industry is one that is multi-faceted, covering a range of sectors from online retail shopping to the purchase of digital products and more. The largest company of this type in today’s environment is undoubtedly Amazon, while others include eBay, Walmart, Wayfair, and Apple. These companies thrive off authentic and genuine reviews. Whether their content is positive or negative, every consumer desires access to a wealth of honest product information before purchasing a specific item.

This remains true for other industries that offer exclusively virtual services such as sports betting or PC gaming. Reviews are especially important for these companies as, instead of receiving an item by delivery, the service becomes digitally accessible only after the transaction is made online. For example, the FanDuel Sportsbook review outlines the U.S. provider’s offerings, listing pros and cons of the experience so sports enthusiasts know what they will and will not have access to after they sign up. These types of reviews are known as expert reviews because, rather than being provided by customers, they are written by other knowledgeable playmakers in the same industry.

Hospitality and Food Service

Next up is none other than the Hospitality sector, another industry that encompasses many different businesses from hotels to restaurants, transportation, events, and countless other individual services within the genre of tourism. Here, reviews hold just as much weight as in Ecommerce because customers are also on a journey of product purchasing that is very important.

These people are the ones who scour through hotel or Airbnb host ratings, reviews of restaurants and airlines, cruise ships, and more. The bottom line is that it is all about experience, and potential customers want to know what past customers have to say about theirs. Statistics show that it is extremely likely for people to read reviews before going out to a restaurant, café or bar to dine. In fact, oftentimes this information can be as valuable, if not more so, than a recommendation from a close friend.

Healthcare

The Healthcare industry may not be the first one to come to mind when people think of online reviews, but nowadays as medical businesses expand their online presence to social media platforms and their own user-friendly websites, these reviews are highly accessible.

For example, when trying to find a doctor close by, people will often take to the internet and narrow down the results based on a patient’s prior experience. Popular review outlets such as Yelp will provide the user with detailed ratings on medical sites in their area, aiding them in their search for their preferred physician. Believe it or not, these online reviews are also linked to SEO ranking no matter what your business is. This means that even a single doctor’s visit testimonial can negatively or positively affect Google searches in the future.

Healthcare

Mobile technology has also opened many doors, allowing consumers to shop and read reviews from various companies while on-the-go

Banking

Last but not least, the banking industry is one where reviews are extremely significant. Forward-thinking financial services recognize the importance of in-depth reviews, especially as more and more banks go digital in the modern age. Nowadays, customers looking to take their hard-earned money to a new bank online rely heavily on reviews from the company itself as well as prior clients.

Reviews are also vital for banking institutions because of the massive competition that exists within the industry. These businesses must set themselves apart in this way so that customers are more likely to sing their praises when the time comes.

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