Even if your business is not an online business a significant part of a customer journey is now in the online world some say up to 2/3 of the buying decision is taken before they even contact you or look at your website.
So it is no surprise that writing testimonials and reviews has become big business. However I for 1 am really pleased that the CMA is opening an investigation into the practice of paying for good reviews. When the public is basing a decision on the words of others they deserve to be protected from unscrupulous behaviour.
It also means that business who are getting genuine testimonials and reviews because they deserve them will also be protected from this behaviour
A win win in my mind.
The CMA is also planning an international project on online reviews and endorsements, to coincide with Britain's year-long presidency of the International Consumer Protection and Enforcement Network, which starts 1st July. It's big business, these new crowdsourced yellow pages of the internet. A hearty 62% of British consumers say they are likely to be affected by positive online reviews - with negative ones, that soars to 89%.