We highlight the 3 most important arguments for collecting customer feedback, demonstrating their impact on purchase decisions.

In our articles, we have presented many statistical arguments about the importance of collecting and publicly displaying your customers' feedback. Perhaps it's time to highlight the 3 most important ones that demonstrate their impact on purchase decisions.

Customers making a purchase like to educate themselves about the buying experience of existing customers of their chosen provider. Additionally, they are interested in whether these customers are satisfied with the purchased product or service. If existing customers of a company are satisfied, then there is a higher probability that a potential customer will also be satisfied after their purchase! As many as 97% of potential customers are said to consider the experience of existing customers in their purchases. Feedback is therefore important. But how exactly does it influence purchase decisions? Below are the 3 most important arguments for collecting customer feedback (source: Fan & Fuel):

1. 88% of customers give online feedback the same weight as personal recommendations.

A customer's voice has always been an important building block of company credibility. Since their voice now spreads faster and further with the help of the internet, the experiences of "strangers" have practically the same impact on purchase decisions as the experiences of personal acquaintances used to have. Of course, customers will only trust feedback that is informative and appears genuine. If they suspect that reviews are generated or filtered (only positive ones are published), it will deter them from purchasing.

2. Publicly published feedback means 18% more sales on average.

Customers will be more inclined to purchase from a company that publicly displays its customers' feedback. This instills confidence in their purchasing decisions and eliminates doubts about not being satisfied with the purchase. The result is higher conversion. Enhanced company credibility also positively influences customer purchases. Customers make purchasing decisions faster, spend more, and are more likely to return to the same provider.

3. 86% of customers hesitate to buy if the provider has negative feedback.

Negative feedback casts a poor light on your company, products, or services. However, be aware: if a customer cannot find even one negative experience from existing customers, they will not trust the reviews. Exclusively positive feedback gives the impression that the company is deleting negative ones. For the credibility of published customer experiences, it is important to have an occasional negative review among the good ones. On top of all this, negative feedback hints at what you can improve for even greater customer satisfaction. This will surely tip the scales in favor of positive experiences in the future!

The Customer Has Power!

Published customer feedback is therefore an important factor in making purchase decisions. It builds customer trust in the company, which converts into larger and more frequent purchases.