Understanding customer value and experience is vital in online business strategy. Companies that focus on short term sales rather than long term customer relations tend to loose their market share quickly. Gone are days of short sales cycles and quick purchases on e-commerce sites, customers are more conscious than ever. Here are some quick facts about customer behaviour online:
Facts
• 77% of online shoppers in the US actively seek out reviews before they buy*
• 92% of shoppers find customer reviews “extremely helpful” or “very helpful” in making their decisions**
• 97% said they trusted recommendations from peers*
Source: Forrester, ** eTailing Group and JC Williams Consultancy
With this scenario in focus, we should try to influence the optimal customer behavior that will lead to win-win outcomes for...