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Digitalinfant

I think there are two very interesting parts to your post, but the one I'm most interested in, is in the ratings and review systems. The link to that whitepaper by Ze Frank stated in its opening paragraph "...while 74 percent are influenced by the opinions of others in their decision to buy the product in the first place". We've heard about the power of "what others like me thought" in ecommerce and social ecommerce, but very few companies have executed on this properly. The two that most mention are Amazon and Neflix, but USAA is also starting to incorporate member reviews of financial products. Why do people care to learn what others thought first before they consider a product online? Because it reduces overall information costs - reputation systems when dealing with a seller (eBay) and rating systems when judging the quality of a product (Amazon, USAA, Netflix). Boxes and Arrows put together an interesting post on rating and reputation systems here http://www.boxesandarrows.com/view/on-a-scale-of-1-to-5

Great post.

edward boches

Forrester is telling us that the trends in social media spending (up) are all about consumer's desire to participate and connect with peers. For B2B that's all about introducing customers to each other, their opinions, advice, comments, etc. I would go even further than comments and ratings and actually introduce customers to each other. Let them talk, share, argue, debate, counsel each other and see where it goes. At worst case it's a chance to listen; at best they'll sell each other, solve each other's problems and offer wisdom that you may not get any other way.

Andrew McFarland

The most important 2 things about using customer feedback to improve products are 1) do _something_ and 2) make changes based on the outcomes customers need, not necessarily on what they say they want. (i.e. Part of our job is to translate wants into results.)

Henry Ford is said to have remarked, "if I'd asked my customers what they wanted, they'd have said a faster horse."

Thank you for the good post.

Valeria Maltoni

@Digitalinfant - indeed, the stats offered by Sam Decker are quite interesting. Thank you for the link. Interestingly, reputation systems are very subjective. What is a 3-star performance for someone, could be 5 stars for someone else. Still, I agree with you, reducing information cost means going along with what others have done/are doing more often than not.

@Edward - you know I do that, right? That's the way I was built. My desire is to help people connect with others who they will find interesting and helpful. We organize face to face forums for this kind of learning and conversation.

@Andrew - taking action and communicating you've taken action are critical parts. I'm very familiar with outcome-based innovation and the body of work by Ulwick and Christensen.

M Kayan

It seems like collecting customer feedback and metrics is the easy part - it can be as easy as adding a plugin to your website.

The hard part seems to be staying on top of all that data and acting on it.

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