/// How Online Reviews Have Affected Marketing Strategies
If you use reviews to decide which stores to shop at and which products to buy, you’re not alone. These days, reviews on sites like Yelp are reducing the importance of the brand. Street Fight interviewed Stanford professor Itamar Simonson, who teamed up with Emanuel Rosen to write a new book called “Absolute Value: What Really Influences Customers in the Age of (Nearly) Perfect Information.”
As you’ll find out in the interview, the modern reliance on crowdsourced reviews could lead to brands spending less money on traditional marketing tactics. Instead, author Itamar Simonson advises marketers to “find out what reviewers are saying, how they evaluate products, and figure out as quickly as possible how to shape that conversation. If the product is getting bad reviews, it’s not a matter of manipulating the reviews or advertising more — that’s not going to work. You need to find a product that will get better reviews.”
You can find the rest of the interview at Street Fight. Read it and let us know if you agree that online reviews will continue to affect marketing strategies and their budgets.