MotoNovo: Don’t underestimate the importance of online reviews

A number of dealers aren't maximising the potential of online review sites such as Trust Pilot, MotoNovo Finance has said

MotoNovo: Don’t underestimate the importance of online reviews

Extracting the value from these could provide a way to differentiate from competitors, increase consumer confidence and enhance search engine optimisation, the lender added.

MotoNovo’s head of sales and marketing Karl Werner said: “According to digital optimisation consultants Invesp, 90% of consumers read online reviews. Given the changes in the way consumers approach car buying today, all dealers should consider themselves to be multi-channel retailers who serve the customer initially online and subsequently (although not exclusively) in the showroom. Creating a stand-out digital presence in a crowded marketplace, means reviews matter.”

In 2015, Invesp also found that 88% of people trusted online reviews as much as personal recommendations.

Other research has supported this theory. In 2011, consumer research company iPerceptions found that 63% of customers were more likely to make a purchase from a site with user reviews.

Werner said: “A strong collection of reviews, such as those we have amassed to date, including less favourable assessments (providing they are not fake reviews) add a high level of authenticity to a dealer’s F & I offering and vicariously to the dealer’s own credibility. If dealers are looking for an edge in 2016, developing their review profile should be a key candidate for investigation.”