Each year Bazzarvoice awards companies for making innovative achievements using the voice of the consumer.
The 2015 Content All-Star Award goes to Philips, the legendary Dutch technology company.
Philips is a successful company known its innovative electronics products. But like all companies large and small, it’s facing a dramatically changed consumer marketplace compared to a decade ago. With technology and online advancements, it’s also facing competition from emerging companies across many industries and locations.
To help stay ahead of its competition while meeting consumer demands, Philips established key performance indicators (KPI’s) for review volume and average ratings. These were measured through reviews generated from social media sweepstakes, promoting customer reviews throughout the Philips website, and adding reviews to product packaging.
Philips also created a product improvement process in which reviews helped improve and redesign products like the Senseo Latte Duo.
With 88% of consumers trusting online reviews as much as personal recommendations, Philips correctly realized that businesses can’t afford to ignore online reviews.
Following its KPI establishment, traffic to Philips product pages from organic search increased to 2.5 %. Consumers who read reviews on the Philips website were also found to spend 73% more time on the site, which led to a purchase increase of 180%.
What can we learn from Philips?
Philips shows that large and small companies in every industry benefit from embracing customer reviews. While it could be easier for an established and successful company like Philips to pay less attention to reviews, Philips took the opposite approach and the results paid off.