E-marketer reported on a study conducted by the Deloitte Consumer Product Group that indicated that consumers are accessing and trust consumer-generated product reviews. The data is very convincing, indicating that 99% of respondents find consumer-generated reviews somewhat or very credible. However, only 62% read consumer-generated reviews.  I find it surprising that that 99% find the information credible but only 62% actually access in the information, but either way 62% is a big number. The eMarketer article states, “More than eight in 10 respondents in the Deloitte study who read consumer reviews said that the reviews had affected their buying intentions: either they became more determined to buy the product or they changed their minds and bought a different product altogether.”

As if we needed more proof, this is yet another demonstration of the big stick that consumers now carry, and further proof that marketers need to participate in online conversations with consumers.  Knowing that online reviews are influencing other consumers makes them a critical source of marketing data.  Talk about immediate and actionable feedback. Marketers need to track online feedback, and have a great opportunity to use it to facilitate real-time branding and even impact product development and potentially business operations. CPG companies have it pretty good being able to get this feedback.  I wish we had a system like this for agencies!