We know that online reviews matter because people use them to make decisions. But how exactly does all of this chatter affect the bottom line for the business being praised or picked apart?
A new study by social analytics firm ShareThis quantified exactly how much more people were willing to pay for products—iPads, cars, various ingredients for recipes, etc.—based on reviews they encountered in-person and online.
For the first time ever, ShareThis has quantified the dollar impact of an online share. In particular, they looked at the consumer goods, tech and auto vertical.
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