I was in a meeting this week discussing general Web 2.0 principles and how people are using the web. The statement was made "Everything that can be rated will be". Meaning that the collective consumer voice is going to creep into every industry where free markets exist.
That got me thinking about how I ultimately make decisions. I know that I use the internet a lot, but I surprised myself by how much I rely on other people's opinions when making a purchasing decision. Here are some examples of my purchasing behaviors in just the last three months:
- Got a new dentist this year, whom I have spent about $2000 with so far. He had the most and the best reviews on Yelp in my zip code.
- Need to pick a restaurant to go out to eat? Never go anywhere new with first checking Yelp and then reading more reviews at metromix.com.
- Movie reviews on RottenTomatos.com before seeing anything, rental or theatre.
- Read countless reviews of tour guides, hotels, and things to do for our vacation on TripAdvisor. Every activity we did was because we learned about it on TripAdvisor.
- Just booked a Facial, researched different Spas on Yelp and SpaFinder.com. I also consulted RealSelf.com to compare the different types of facials I was considering.
- Bought a new lamp shade today on Amazon and picked one company over another because of one negative review a vendor had received.
- There is a particular kind of gum I am addicted to and you can only get online, about 5 people sell it on Ebay for about the same price. I bought it from the person with the best Seller rating.
- I am in the market for a new patio furniture set. I almost bought one on Target.com, but then read the negative reviews on their site that previous customers had written. I kept looking.
- My pipes froze and burst this year, Angieslist.com to find a contractor.
- Always looking for something to do on the weekends so I subscribe to the GoldStar.com newsletter and read what are the most popular events in town and what people are saying about them.
- We got a new digital video camera recorder and MP3 player, read all sorts of reviews about both at cnet.com.
- When I simply can't find an answer to a question on the Internet, I post it at answers.yahoo.com.
- Needed a recipe for a dinner party, found one at recipes.com. Didn't consider anything that didn't have at least 50 4 star ratings. Many times you'll find substitutions in the comments section.
- Bought some hair products on Drugstore.com. Consumer reviews guided me to my ultimate purchase.
- Plus, all the insight I have gained from reading various blogs!
When people wonder if Web 2.0 is actually making anyone money- I say YES! It may not always be directly tracable to a particular site or post, but it is definitely part of the decision making process.
Then I thought about contrasting this list with purchasing decisions I have made based on information FROM PEOPLE I KNOW. Only one thing came to mind. I needed to hire a new accountant this year and I got a referral from my husband's co-worker. I guess I figured good accounts shouldn't need to advertise. This is HUGELY opposite of how my parents make decisions (who are you trying to target and are you using the appropiate methods to reach them?).
Almost every time I ask a real estate agent what is the best form advertising for them, I get the same answer - Word of mouth and referrals. If you truly are a good agent, all this should excite you. If you are a less-than-stellar agent, this should make you nervous. Whatever people are saying about you in your sphere can be extended to limitless circles online. Sometimes you will be able to control it, sometimes you can not.
But there are people (like me) out there that find tremendous value in public opinion and are using consumer generated content to make decisions ranging from buying a book to hiring a Realtor.
Where is your next client "hanging out"? Chances are good it is somewhere online. Make sure you know where these places are and you are entering the conversation, demonstrating your expertise. Also, you need to leverage those you know to not only say nice things about you at the next church event, but be willing to be consumer advocates for you online. Their opinion can be more valuable than any piece of advertising you might run.
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