Big Talking Shop

Forget Twitter; Your Best Marketing Tool Is the Humble Product Review

NEW YORK (AdAge.com) — Last fall, executives from Oriental Trading Co. read a product review from a woman planning her autumn wedding complaining that her order of fall leaves didn’t look anything like the picture on the website. The execs went straight to the warehouse, pulled the product and compared for themselves. She was right — it didn’t look the same. The explanation: The company had recently switched vendors for that particular product, and the new vendor’s version wasn’t up to snuff. So the company pulled it.

While the first lesson of the story is that you never want to disappoint a bride, the more important one is that marketers are learning to listen. And for all the ink spilled on the importance of Twitter and Facebook as feedback and customer-service channels, there’s another social-media tool marketers are increasingly finding useful, not just as an online-shopping tool but as an internal, culturally changing consumer-criticism channel: the humble product review.

Looks like companies have gone for cost cutting rather than price cutting as the primary strategy for retaining or growing profits. The assumption here must be that if sales start to increase then staff can be rehired to deal with growth. Previous downturns have seen retail prices come under pressure first.
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An interesting book may change your mind on the way markets move.
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