Social proof is one of the most powerful tools retailers, and hospitality providers have at their disposal. When used correctly, it can help persuade potential buyers to make a purchase they may not have otherwise considered.
According to a study by Nielsen, 92% of people trust recommendations from friends and family over all other forms of advertising. With this in mind, it’s no wonder that social proof has become an important factor for online businesses.
Studies have shown that adding social proof elements such as trust seals or badges can also help build confidence for potential buyers. In addition it reduces shopping cart abandonment rates. By following these tips, retail and hospitality businesses can use social proof to boost their sales and increase profits.
Think of the last time you visited a new restaurant, beauty salon, or hairdresser or bought a pair of jeans from a brand you generally don’t buy from. What was the process you went through?Â
If you are like most of the population, you probably searched on Google, read a few reviews, and then made your decision to buy a product or visit a venue.
Online reviews drive behaviour, conversions and revenue.  In fact, the average customer is willing to spend 31% more on a retailer that has excellent reviews.
Read the full article at the retail world magazine, page 14-15.
I was fortune to work with the retail world magazine and I will be contributing an article each month apart of their monthly magazine.
