The Review Economy is something that people have been writing and speaking about for years now and for good reason. Keeping track of a brand’s online reviews is necessary if you are to survive in 2020 and beyond. They simply hold too much weight. Research shows that just a 1 star jump in a Yelp review can lead to a 9% boost in revenue. Businesses need them now more than ever and they are very willing to incentivize customers to leave product reviews by offering contest participation, where you can “win” a free product or a monetary prize. In many ways, it has replaced the customer feedback give-a-ways of the past. Take this survey and you could win $500.00! Instead, we now see “Review your recent purchase and you could win $500.00”.
Enter Apple Ratings
Apple ratings is coming with the new iOS 14 upgrade, due out this fall. Up to this point, Apple Maps relied on Yelp and Trip Advisor as their main resource for reviews. 9to5Mac.com, a site that is devoted to Mac updates, shared the news with their followers. The sixth beta for iOS 14 show that Apple is not only moving away from third-party map data, but its also moving away from third-party image and review data. Apple is saying that photos submitted by users will be reviewed by a human.
We were able to capture a couple of comments made so far below, as a small test of i
What This Means for the Review Economy
It may mean that Apple Reviews will be disruptive to Yelp and Trip Advisor in the long run. Apple intends on being very proactive when it comes to review fraud. No easy task. They may also only allow users to rate a place after physically visited it. They may also use a thumbs up and thumbs down rating system rather than stars.
In the end, if it is done properly, it may be a review economy disrupter in a good way! Apple may be able to tighten the parameters around online reviews, making fake reviews a thing of the past.
It will be one more area for businesses of all kinds to monitor. Having a solid social listening or monitoring system in place is so important. Customer churn is real and monitoring online feedback is just as important as conducting market research, mystery shopping or conducting customer satisfaction surveys.