How online reviews influence millennials buying an audio hifi-product
Meet Anne: 27, dressed attractively in stylish clothes from quality brands, the newest Samsung smartphone in her pocket and well aware of what is hot right now. She’s a bit restless and suffers from FOMO (fear of missing out). She has a job for which she travels 40 minutes by underground and during this time she listens to Spotify. In fact, Spotify is her #1 app as music means a lot to her. She loves clubbing and practices her dance moves in front of the mirror in her neat apartment when she is at home.
As a partner in online review campaigns, we spend a lot of time with audio hifi-brands discussing their target group. Typically, Anne is whom they want us to target. Why? Because if they can get Anne loyal to their brand, she’s hooked for a longer time and will buy audio hifi-products from this brand, from headphones to bluetoothspeakers.
So how can audio hifi brands get Anne to buy? From our experience, and backed by significant amounts of research, it turns out online reviews play a big role in this process.
Path to Purchase for Millennials
First we need to make Anne aware. According to KPMG, who conducted a great study on online consumer behavior, Anne can be best reached during the awareness stage through a strategic word of mouth campaign as Millennials are highly influenced by what their friends buy or talk about. In the Consideration stage, when Millennials do product and company research, online reviews and recommendations plus a really good brand product page pays off: 56% of Millennials look for online reviews and 48% visit the company website. In stage 3, when we get to Conversion and Buying, Millennials tend to look for the best price (27%) and have a preference to buy with an online retailer they trust.
Attention: Millennials’ timeframe between awareness and purchase is short
Millennials come, see and buy. The report of KPMG claims 27% of Millennials buy the same day they decide which product they want, another 41% buys the product within a week. This means when Millennials are ready to buy, you need to have all information ready, especially when the buzz around the product is high which is usually within the first few months after your product hits the market. So a marketing manager needs to be sure that a) the brand product page is top notch, b) online retailers have listed the product and keep enough stock for demand and c) there is user generated content available.
60% to 132% conversion increase for Audio Hifi products due to online reviews
Earlier this year we organized a review campaign for our client Plantronics. Ole Hellfritsch, marketing manager at Plantronics told us they measured a 60% increase in sales for the BackBeat PRO 2 after the reviews had appeared in product listing pages on multiple online retailers.
Another business case with a popular consumer electronics brand from South Korea shows the effect of online reviews after conducting an a/b test. Visitors were randomly lead to a product page with reviews (page A) or without reviews (B). We measured a conversion increase of 132% on page A compared to page B, which indicates the significant effect of online reviews on conversion.
It got even better, as it turned out that those who read the online reviews, bought more products per purchase; 156% more orders were shipped during the test case. Besides these sales effects, the two companies used the insights of the online reviews (which averaged 150 words per review) to tweak their online campaigns and their products.
What we recommend a marketing manager for an audio hifi product to do
When launching a product, make sure people talk about it, and when they do, make sure you have a great product page including a where-to-buy-button referring to your favorite online retailer. Finally, make sure you have authentic online reviews on the product landing page as this has a huge affect on the purchase decision.
We can’t help you with a great product page, but we can help you get authentic online reviews fast (which in effect can help you get listed on a big retailer, by the way….)
Now you product reviews influence millennials. Curious to know how we helped brands like LG, Samsung, Sony, Plantronics, Sennheiser, Beyerdynamic, AKG, JBL, Harman and others? Take a look at our case studies and discover the amazing results.
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