• #Ask8now – How #Peer #Recommendations
    Change the #Game for #Businesses
    So how do you adapt to peer recommendations
    as a business? Learn more..


    How Peer Recommendations Change the Game for Businesses


    Imagine if you were running a high street store but every customer who shopped with you stayed in your shop. Space aside, this would create quite a unique problem for you as a seller because it would mean that bad products simply stopped selling. Why? Because when a new customer came in to look at something, you’d have the previous customers warning them against it.

    peer to peer lending

    This might sound like a farcical situation but in fact it’s very close to what the reality is in today’s age of social commerce.

    Social commerce is all about leveraging the social aspects of the internet to either increase to decrease sales of a product or a service. And one of the most obvious examples of how this works is with regards to peer recommendations.

    What Are Peer Recommendations?

    Peer recommendations are precisely what they sound like – advice from other customers on whether or not to buy products or services.

    What this looks like is a site like Yelp, TripAdvisor or Amazon. Go on those sites to buy a product or book a hotel and what you will find is that there are a ton of reviews from previous customers. This is then what will encourage you to either go ahead and buy or to quickly leave the website and never come back. Which reaction you have will of course depend on the nature of the reviews that have been left.

    So if you run a hotel and your average score on TripAvisor is 1 star out of 5, that’s like having a legion of angry former visitors standing outside your building and warning people away!

    Adapting to Peer Recommendations

    So how do you adapt to peer recommendations as a business?

    peer to peer lending

    One obvious point is to make sure that you are at least aware of the feedback. If you haven’t looked up your own business or your own products on these sites, then make sure you do.

    The next tip is to try to make sure you are getting positive reviews from satisfied customers. This sounds obvious but the point is that you need to encourage this to happen. Unfortunately, most of us aren’t interested in leaving reviews unless we feel very strongly – which usually means we had a negative experience.

    Try to build a relationship with your customers and visitors and this way you will find they’re more likely to leave positive reviews.

    And oh yeah… make sure you are delivering great value! There’s no hiding anymore thanks to social commerce!


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