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Starting a new electronic products website

Discussion in 'Monetisation' started by Evan C, Oct 8, 2009.

  1. Evan C

    Evan C New Member Webmaster

    If you are developing an electronic products website, selling digital cameras, MP3 players, LCD TVs etc. it is important to remember that before buying these types of products, online shoppers almost always seek out product reviews first.

    Here are some of the statistics:

    - 46% of Britons now read online reviews or recommendations on a specific product before buying it ... (source: 1&1 Internet survey of 1600 consumers, December 2008)

    - 79% of online UK retailers surveyed reported that the main benefit of consumer-generated rating and reviews was that they improved site conversion rates. (eMarketer, 2007)

    - Online UK retailers reported improved customer retention and loyalty by 73% once they implemented consumer-generated rating and reviews. (eMarketer, 2007)

    - 56% of UK website owners say that user-generated content lifts conversion levels; 77% say it increases traffic; and 42% say it increases the average spend on site.(eConsultancy survey of 360 website owners across all sectors, November 2008)

    - Satisfaction for those who recalled customer reviews on the retailers' site is 10% higher than those who said there were no reviews offered. Loyalty increases, too: 7% higher likelihood to purchase online, 8% greater likelihood to purchase from the retailer next time they're buying similar merchandise and 11% greater likelihood to recommend the site to others. (30 UK Online Retail Satisfaction Index, ForeSee Results, January 2008)

    Instead of letting customers go in search of reviews, why not display them on your website, right beside the relevant products. Sound like a lot of work?


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