Why Web3 needs user reviews

One of the most valuable things for any business owner and/or marketer is user reviews.  

These things not only help you build trust with users who are considering signing up for your project, but they're absolute gold when it comes to feedback and informing your future growth strategy.  

User reviews have always been important. but if you're in the Web3 space, there more important than ever.  

Why user reviews are especially necessary in Web3

If you've tried to pitch an idea or even talk about anything related to blockchain, crypto, or Web3 to anyone outside this industry, the chances are they've told you they think it's all a scam. 

Thanks to a couple of years of rampant scams, hacks, and the bad press these brings, trust in the industry is crazy low.  

A lack of trust leads to a lack of new customers willing to give your idea or project a try. 

Which is a long way of saying "fewer customers". 

I'm a firm believer that we'll overcome this eventually, but we do need to take as many steps as possible to build trust with users. It'll not only help your project get more users, but will also help the industry as a whole.  

And customer reviews are one of the best things for building trust. Here's a few stats that show the importance of user reviews.  

• 93% of customers consult online reviews before making a final decision
• Customers are 63% more likely to trust a brand with online reviews
• Every extra review star increases revenue up to 9%
• Customers pay 31% more for companies with a good reputation
• Reviews produce an average 18% increase in sales

Bascially, reviews are one of the best ways of mitigating the trust issues in Web3.  

And honestly, it's only going to get more important and relevant for the industry. 

Why Web3 is going to be THE best solution for user generated reviews

The rise of Ai is going to affect every industry. 

With a little technical knowledge, anyone out there can have a machine write tonnes of content for them. 

And I'd bet my bottom dollar that unscrupulous brands would use AI to write dozens or hundreds of reviews for them to make them seem more trustworthy.  

Web3 and blockchain tech can be a shield against this. With on-chain verified users, you can ensure that each and every person is a real human and limit them to one review per project. 

No more fake reviews.  No more unverieid reviewers. 

We're working on some call checked here at DR to ensure this is the way the review world progresses.

The other issue is going to be the amount of noise in the space. When you can cre`ate hundreds or thousands of articles with the click of a button, the real value is going to be in human generated content.  

These reviews will allow for content that differentiates from the noise and creates something truly unique and valuable. 

7 (more) reasons why user reviews are needed

With that being said, there are a couple of the more genric and time tested needs of user reviews which I've listed below.  

1. Improve search and listing site CTR and visibility

As mentioned above, there's gonna be a lot of increased noise out there thanks to AI generated content.  

If you can generate reviews for your project, you'll be able to stand out form generic content. Not least in the areas where users are searching for solutions. 

Take Google as an example.  Below is a quick snippet of projkects listed here on DR.  

Which one stands out to you more? 

It;s the one with an active review, right? Google and other search engines index your reviews and use them in the Google search results. 

This immediately gets a searchers attention and builds initial triust amnd curiosity getting them to click through and learn more.  

It's the same on listing sites like Decent Reviews.

A higher review score helps your project stand out to searchers and comparison shoppers as it. builds immediate trust. 

When people are comparing, they don't want to sift through all the features and details. What's going to get them to pick out your project is a quick and easy star rating they can assess.  

If you've got a better star rating than your competition, you're going to get more eyeballs on your listing page.  

2. Credibility and social proof

This one's easy. 

We are social creatures, and we rely heavily on others, within our circles of family and friends, to make decisions and suggest what products or services to use.

The same is true for buying decisions online; people look for recommendations from others with their own positive experiences who have used the product or service before. This is where credibility and social proof comes in.

Good reviews are a great way to gain the trust of potential buyers who are considering purchasing something online.

These reviews can come in many forms such as customer testimonials and ratings, industry experts’ opinions, user-generated content, case studies etc. Having customers singing praises about your product can go a long way in building credibility with potential buyers by making them confident that they will also have a good experience with it.

Social proof also reinforces an idea that major influencers (for example, celebrities) praise your product or service which further boosts its credibility among prospective buyers. 

3.  Enable a lot of conversation and PR points

One thing we do whenever we partner with a brand is release a press release about the results of the collaboration.

Why? 

Partly because good results deserve to be promoted, but more so because people love to talk about the result of surveys and review campaigns. 

By generating good reviews and a detailed understanding of your user base, you've got a lot of material you can use to get press mentions and generate conversations about your brand. 

All of which is highly useful press and coverage. 

4. Great feedback from users for better loyalty

 Feedback from users is invaluable, providing you know how to analyse and repurpose it. 

User reviews are a great way to generate feedback at scale and find the macro trends and desires of your audience. 

Take the below for example from our listing page on Binance.    

One review alone is not enough to do this by, but if you analyse dozens or hundreds of reviews and find a lot of people really love that you can move coins between chains within the platform, that could inform the future of your marketing strategy or feature development. 

You could create ads, messages, and articles explaining how you're the best at this one thing and how they can easily get it through your platform. 

This should bring you more users who love those features. 

5. It's user generated marketing content

Marketing is expensive, and difficult to do well.  

The core of good marketing is understanding your audience and what they want. 

If you're collecting user reviews on an impartial, trusted website like Decent Reviews, you've basically got a whole outsourced marketing team. 

And I don't mean us here at Decent Reviews, I mean the users how are creating content on your behalf. 

The reviews can be repurposed in a multitude of ways. From social posts and trust seals, to messaging refining and ad content.  

Reviews are one of the best forms of UGC available.  

6. Reviews generate more reviews and conversations

Have you ever seen a negative review of something you love? 

Often, it makes the fans of that thing want to stop and respond to the review with their own glowing reference and opinion. 

When you're generating one or two reviews, it helps spur others into motion to generate their own reviews as well.  Which gives you more feedback, marketing material, and reach.  

7. A Clear and undeniable effect on sales

As mentioned at the start of this piece. 

Reviews help increase sales.  

Not only because they increase trust, but reviews allow you to supercharge marketing and reach. Great reviews help you reach and convince more people you're the right project for them.  

Summing up

To not put too fine a point on it, user reviews are incredibly useful for any brand.  

They're great for building trust with potential customers and informing future growth strategies.And if you're in the Web3 space, they're more important than in any other industry thanks to the generally negative public perception.  

The good news is, there's a lot of easy ways to generate reviews and use them for your brand, and we're here to help. 

If you want some help improving your marketing through user reviews, get in touch with our team on this page.