Ecommerce websites in the B2C space figured this out long ago. Sixty-one percent of customers read online reviews before making a purchase decision, and showing proof of happy customers increases conversion. In fact, according to Reevoo, reviews produce an average 18% uplift in sales.
So why do so few B2B retailers leverage customer reviews on their websites? From my experience, it’s often because they see the needs of B2C shoppers as different from those of B2B shoppers. I disagree with this sentiment completely. While the contexts and budgets may be different between B2B and B2C shoppers, the psychology at play when making a purchasing decision is the same. Ultimately, a customer has to believe that this product on their screen can actually solve their problem or fulfill their need. Therefore, the desire to read product reviews is human and necessary, no matter if you’re at home or at work.
Every year, B2C sites evolve into better and better user experiences, while many B2B companies remain stagnant. For this very reason, B2B companies have an easy model to follow to differentiate themselves from their competitors. If they focus on implementing the same best practices that B2C ecommerce websites follow, they will begin to pull ahead of their competition. The B2B websites with this strategy will be the ones who survive, once the majority of their customers purchase online instead of over the phone. And that transition has already begun.
There are 2 key reasons why the B2B shopper wants (and needs) reviews in order to make a purchase.
- Customer reviews are 12 times more trusted than the manufacturer’s description, according to a survey of US internet users. (eMarketer, February 2010).
- Higher cost or commitment of products means a potential buyer needs more proof their needs will be met by this product or service.
I already mentioned the statistic about increased conversion rates reviews bring, but there are two other benefits to your bottom line as well:
As customers post reviews to your website, more content for your business is generated, boosting your search ranking.
Google likes to see new and fresh content added to your site on a regular basis. B2B companies don’t always have a person or team dedicated to creating new content, so asking for product reviews is a very cost-effective way of acquiring this new content. Also, 64% of customers want to read online reviews before adding a product to their cart. On Google, they will often search for the name of the product plus the word “review”. If you have product reviews on your site, you have a better chance of acquiring this traffic.
Your awareness of your customers’ levels of satisfaction (or disappointment) will increase.
Maybe your B2B company struggles to understand exactly what changes need to be made to your product offering or overall customer experience. Providing an avenue to your customers to leave feedback, and then monitoring the contributions, is a very cost-effective way to gain new insights into your business.
While positive reviews give validation of current offerings, negative reviews are very valuable as well. For one, they alert you to products that either need to be changed, or potentially removed from your catalog. For example, if you are a wholesale distributor of thousands of items, you may not actually know the quality of every single one of your products. Why not give your customers an avenue to deliver that research to you? This may surprise you, but negative reviews increase conversion as well. A 2012 article from Reevoo suggests that bad reviews can actually improve conversion by 67%. Often, people who seek out bad reviews convert better, primarily because they already have a strong intent to buy. Further, 68% of shoppers trust reviews more when bad reviews are present, and nearly a third assume censorship if no negative reviews exist. Generally speaking, negative reviews make positive reviews more believable.
Product reviews will one day be an expectation of all B2B websites. Strive to be on the leading edge of this trend! Otherwise, you’ll eventually follow in the steps of your competitors as they start adding product reviews in the next few years.