The death of advertising: how the customer became king
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The death of advertising:
How the customer became king
Peter Mühlmann, CEO Trustpilot
business.trustpilot.co.uk
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Mission
business.trustpilot.com
Help consumers make better choices
Help companies to get good customer service and to be rewarded for having good
customer service.
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If your customers aren’t happy, they can tell everyone about it
http://www.informationweek.com/software/social/10-worst-social-media-meltdowns-of-2013/d/d-id/1112936
business.trustpilot.com
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77%
of UK consumers look at online reviews before making a purchasing decision.
Reviews revolution
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Retailers which don’t listen to customers effectively may not survive
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Customers now have the power: not retailers
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How do reviews influence buyer behaviour?
Helps compare how you stand against your
competitors
Consumer becomes advisor,
tester, referrer
Positive buying experience encourages consumer to
continue interacting with you
Advocate Experience
BuyConsider
Evaluate
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59%
of people write negative reviews to protect others from a bad experience.
60%
of consumers have written an online review in the past year - of which 83% were positive.
Why do your customers write reviews?
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Online reviews could generate 40% additional revenue for your business each year.
Engaging with reviews isn’t just a nice thing to do - it boosts your ROI
business.trustpilot.com
15% say they are more likely to do business with a company after reading a response to a negative review that was resolved.
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We have more choice, and more technology - but Word of Mouth remains the best marketing money can’t buy
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It’s still about people and dialogue -the basics never
changed
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