Time to read: 2 minutes
Marc Duke, head of influencer engagement, takes an in-depth look at why even in B2B circles peer review sites matter.
Influencer Marketing, as the name suggests, is about influencing the various people, groups and organisations that are trusted by the buyer or decision maker when making a decision to purchase products or services. One such group are Peer Review websites, where customers leave reviews of recent purchases, and their importance is growing all of the time.
A couple of statistics to back this up:
- Nearly 95% of shoppers read online reviews before making a purchase (Spiegel Research Center, 2017)
- 92% of B2B buyers are more likely to purchase after reading a trusted review (G2 and Heinz Marketing, 2017).
While you may have read a tale or two about fake Amazon reviews and getting friends and family to write about a holiday chalet on TripAdvisor, when it comes to B2B peer review sites things are much more regulated and the process of working with influencer sites is a lot clearer.
To give some context here, peer review sites are most relevant to software providers that are targeting businesses. For example, the adoption of cloud software has increased beyond all recognition in last decade. The Software as Service (or SaaS) market has become mainstream and with it the importance of reading and relying upon peer reviews to inform purchasing decisions has also risen. The reason for this is simple; it’s great to get a free trial of a piece of software but even better if you can read about the experiences (positive and negative) of your peers.
So what peer reviews sites are we actually talking about? Four major sites are:
Before you start to target peer review sites, you need to ask yourself a few questions:
- What categories do they cover?
- Are my competitors listed?
- Are my markets covered?
- Do the sites just generate traffic or also provide leads?
- Do I have the resources to create accurate product and company profiles?
- Do I have the resources to handle negative reviews?
- Does my marketing process enable me to maximise positive reviews/endorsements?
Assuming you can answer all of these questions, you are then in a position to look at working with Peer Review sites. The first thing that needs to be done is create a profile of your company and product/s, which doesn’t cost a penny. Once you have a company and product profile the next step is sourcing customer reviews. If you have happy customers it’s a case of asking them to provide a review of your product in much the same way you would ask a connection to endorse you on LinkedIn. If you don’t have a large bank of customers, you might find that some users will discover your profile.
You also have the option of contacting the account management staff at these sites who will be happy to discuss how to run a reviews programme (how to get reviews on your product page) and ways in which to generate branded collateral with reviews left by your customers to help with your sales process. You will need budget for this, so you have to weigh up the benefits compared to the costs. Just remember that all of these sites want to cover every vendor in the market. so Getting set up will just cost you some time and information so even a start-up should consider peer review sites.
The main benefits of working with peer review sites include:
- Traffic – people can click from the review page to your site or landing page
- Endorsement – some reviewers are happy to be referenced and to be used in customer reference programmes
- Leads – some sites offer ‘click to trial’ so a prospect reading a review can request a demo
- Insight – there is a lot you can learn about your competition.
One thing is for certain – businesses can’t ignore peer review sites as they are increasingly becoming a decision making tool of choice for some customers, and a positive review can help move a prospect from the top of funnel to the bottom. However you look to engage with peer review sites, they are certainly worth considering as part of your marketing strategy.