By Bill CherryÂ
What do your customers want? That is the age old question retailers have been asking for decades. At first marketers used trial and error to determine what customers want. Then statistical research came into the marketing scene and gave us much more specific data. As the Internet developed, e-mail evolved into a popular data collection tool. And now, Web 2.0 with social networks, blogs, and online forums is again changing the cyber landscape for marketers.
The fastest growing media on the Internet is that created by consumers rather than corporations. According to comScore Networks research, in June of 2007 blogs received 63 million unique U.S. visitors, and social networks received 115 million unique visitors. Web 2.0, user-generated content now provides a wealth of marketing information about what customers want, what they don’t want, and what they think about various products, services, and e-retailers. Customers provide information without businesses having to ask for it.
Customer’s expectations are increasing at break-neck speed. They want more interactive shopping experiences. Web 2.0 provides for heightened levels of interaction on Web sites, and consumers expect that same level of interaction when shopping on line.
For years retailers have ignored data that say user reviews are valuable because the content was difficult to manage and they feared t he impact of unfavorable customer comments.
It is estimated that only 1% of online shoppers create original content, but 90% read it. While the online reviews of businesses don’t reflect all of businesses customers, that 1% does have a powerful effect on influencing other and driving sales. The bottom line is that Web 2.0 can help create online brand immersion, increase customer loyalty and drive repeat sales, if businesses pay attention to Web 2.0 data and customers reviews.
Let us know your thoughts about the Web 2.0 trends.
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