The power of online ratings and customer reviews

the Daily read

Why business must heed customer reviews ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 
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AN ARTICLE A DAY, PICKED BY OUR EDITORS
What’s one thing you do before splurging on something new? Whether you’re hunting for headphones or housewares, you probably want to see how others feel about the product you’re eyeing. Online ratings and customer reviews play an increasingly powerful role for brands and consumers alike, especially in the wake of the pandemic. “I think everybody’s realized this is an easier, more convenient, and, frankly, more transparent way to shop,” says McKinsey partner Dave Fedewa in the latest episode of The McKinsey Podcast. Listen in for more on marketing, product design, and why customer reviews are here to stay.
— Joyce Yoo, digital editor, New York
 
Why business must heed customer reviews
COVID-19 has made e-commerce more competitive than ever. Paying attention to customer reviews will give organizations a necessary edge.
Understand consumer power
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“Where our CEOs started was, I’ve got this team. My job is to manage the psychology of the team. I need to solve for the psychology for this group as a group.”
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by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 06:36 - 23 Feb 2022