Some data first: On importance of reviews
According to an inPowered sponsored Nielsen research, more often than not readers put their trust in reviews, test drives, reviewer articles and opinions of those who already owned and tried the item they want to buy. The research poll showed that:
85% customers decide on a purchase after studying “live” reviews;
67% are more likely to buy an item recommended by an expert in the field;
69% put their trust into detailed reviews.
These figures are more or less accurate for all online sale categories, from beauty products to phones and consumer electronics. And another important note to take from this analysis: customers see reviews published on third-party sites — YouTube in particular — as more trustworthy than in-store posted reviews. This is important: video reviews are easy to grasp, and make it simple to inspect the item in detail before you make the purchase.
Reviewing and marketing
Nowadays, many people make a living with their blogs and review pages. Times, they changing — and niche magazines now have a strong competition in the form of non-mainstream self-employed reviewers who garner more attention from readers and viewers. Still, it’s not that easy: if you consider yourself an expert in, let’s say, wooden cooking pots (oh no, they’re back!), better think twice about becoming a YouTube reviewer if you want to make an easy buck. There’s a problem in the video review field: no marketing proportionality whatsoever. In other words: only 3 video reviewers out of 100 are responsible for over 50% of the viewership traffic and receive funding through advertising. The first of the top three in the niche receives an average of 80% of advertising funds in the niche; the second-highest reviewer, 15%; the third-highest, 5%; and other 97 out of 100 in the field publish their content without any influx of advertising money. This self-employed industry needs a push for development — which will increase the overall quality of content available online and result in positive feedback effect for the e-commerce field.
Solution by Storiqa: Affiliate marketing
On the one hand, quality reviews for all items in stores help small-scale producers increase their online sales and earn the trust of their customers; on the other hand, there’s a great number of video reviewers looking for affiliate offers to develop their channels and boost viewership. Storiqa brings sellers and reviewers together through blockchain-based affiliate programs. A reviewer can choose any item in a Storiqa store and receive it for free in return for a review that includes a personalized referral link. The blockchain-based referral system will record every purchase made through the reviewer, earning him or her a share of profits made in the deal. The higher the review quality, the more people will watch it and use the referral link.
And, what’s more important, the reviewer is free to choose the items relevant to their interests and the niche they cover. In this way, advertising will be deeply integrated into the reviewer’s content and way of presentation: for example, people interested in cooking are very likely to take interest in the special cooking pots used their favorite video recipes. Investing into video reviews may increase your revenue tenfold compared to conventional advertising!
At the same time, if small-scale producers take particular interest in any video reviewers, they can send them pre-approved affiliate offers. In other words, higher review quality means more affiliate offers, with more viewership and profit.
But in the end, it all comes down to this: if you want to buy something from a Storiqa seller based aroad, you’ll be able to learn everything you need about your item of interest, see it in action and place your order with confidence — and that’s the most important.
