The Value of Customer Ratings and Reviews in Advertising in the US

Dit onderzoek van London Research toont de voordelen van het gebruik van Trustpilots scores en reviews om het vertrouwen en de bereidheid tot een aankoop te vergroten.

This [London Research study](https://londonresearch.com/) reports on the benefits of using Trustpilot ratings and reviews in advertising to build trust and increase propensity to purchase.

The research also looks at the extent to which specific types of Trustpilot content in online advertisements influence US consumers, including the Trustpilot logo and stars, TrustScore, the volume of reviews, and the impact of an authentic customer testimonial.

To test the value of Trustpilot ratings and reviews in ads, 1,000 American consumers were shown a series of digital advertisements for a new cell phone plan, and asked which ads they would be most and least likely to click in order to buy.

### Summary of the research

Anatomy of a co branded ad - CEU

Anatomy of a co branded ad CEU

- 63% of US consumers agree a good Trustpilot score makes them more likely to trust a brand.
- 61% agree a good Trustpilot score makes them more likely to buy from a brand.
- An online advertisement with the Trustpilot logo and stars is 37% more persuasive than the same ad without them.
- Consumers are two-and-a-half times more likely to click a Trustpilot co-branded ad showing a five-star customer rating, TrustScore, 3,000+ reviews, and a customer review, than an ad with no Trustpilot content.
- A Trustpilot five-star advert with a 4.8 TrustScore showing 500+ reviews is more than twice as compelling as an ad with no Trustpilot branding.
- A Trustpilot five-star advert with a 4.8 TrustScore showing 3,000+ reviews is 31% more compelling than the same ad just showing the TrustScore.
- A Trustpilot five-star advert with 3,000+ reviews performs 10% better than the one with 500+ reviews.
- A five-star ad showing a high TrustScore with 3,000+ reviews and an actual customer review performs twice as well as an ad with no Trustpilot components, even when the price is 20% higher ($48 versus $40).

## The importance of ratings and reviews in the buyer journey

Consumers are right to be cautious about putting their trust in brands when they’re looking to buy products and services online. According to the Federal Trade Commission, Americans have lost $588m to scams during the pandemic era alone, which makes people even more eager to ensure they’re buying from a reputable business and spending their money wisely. At the same time, consumers are becoming increasingly savvy about fake reviews used by less-known brands to bolster their credibility.

Our research shows that authentic customer reviews and star ratings are now firmly established as a go-to source of information for the majority of shoppers. Sixty-four percent of US consumers say they’re ‘often’ or ‘very often’ influenced by customer reviews during the journey to purchase, while 63% say the same for star ratings (Figure 1).

This does not surprise Kyle Rao, President and CEO of Secure Medical. As the company behind eDrugStore.com, they are fully aware that consumers need to see that people like them have used a service before, and rated it highly.

Kyle Rao quote

President and CEO, Secure Medical

Figure 1 - CEU

Figure 1

Ratings and reviews play an important role in influencing buying decisions across a wide range of categories, from electronics to travel, and property to auto rental. For every sector shown in Figure 2, at least half of consumers surveyed regard ratings and reviews as ‘useful’ or ‘very useful’.

Figure 2 - CEU

Figure 2

Advertisers should strive to understand how different touchpoints and channels work together to build trust and positively impact the decision-making process during the customer journey.

After customer ratings and reviews, the next most frequently visited touchpoints in influencing a buying decision are search engines, followed by ecommerce sites and social media (Figure 1). Given their usefulness and popularity, savvy marketers should think about how they can harness ratings and reviews across other channels, including both online and offline advertising, as well as across their own digital properties and email campaigns.

SuretyBonds.com is a good example of a financial services brand showcasing star ratings and customer reviews.

Example SuretyBonds

### The benefits of Trustpilot content through the funnel


Figure 3 - CEU

Figure 3

The trust engendered by adding Trustpilot stars and scores to digital advertising is not just good for brand image, it is also a core component in driving sales. Sixty-one percent of US consumers agree a good Trustpilot score makes them more likely to buy from a brand, including 26% who strongly agree (Figure 3). The propensity to buy something from a company is very closely linked to the level of trust in that brand. A very similar percentage of consumers (63%) agree that a good Trustpilot score makes them more likely to trust a brand (Figure 4).

Figure 4 - CEU

Figure 4

Brands are seeing this throughout the customer journey. For Octopus Energy Germany, a green energy supplier, adding its star rating is a way for it to build trust while also raising awareness at the top of the funnel.

Quote Melanie Schiller

Head of Brand Communication, Octopus Energy Germany

At fashion brand Bamigo, work is under way to add the Trustpilot logo, star rating and customer reviews to all its product pages because, as the company’s Marketing Manager Freek Rijken reveals, they are proving highly effective at the purchasing end of the funnel as well as the awareness stage. He believes this is because they convey to prospects how happy existing customers are with the quality of its products and service.

Quote Freek Rijken

Marketing Manager, Bamigo

## The impact of Trustpilot

### 1. Logo with star rating

We have seen that consumers say they’re more likely to trust and buy from a brand with a high Trustpilot rating. A key objective of our research was to understand the impact of different Trustpilot content elements, namely the logo and stars, TrustScore (out of five), number of reviews, and an actual quote from a customer.

As part of our proprietary research, consumers were shown a series of digital advertisements for a new cell phone plan, and asked which ads they would be most and least likely to click in order to buy.

Trustpilot star rating ads - CEU

Trustpilot star rating ads

The research found that an online advertisement with the Trustpilot logo and stars is 37% more persuasive than the same ad without them.

Another finding from the research was that consumers looking to buy something are two-and-a- half times more likely to click a Trustpilot co-branded ad with a five-star customer rating, high TrustScore, 3,000+ reviews, and a customer testimonial (compared with a baseline ad with no Trustpilot vs. branding).

As well as seeking to understand the overall impact of the full suite of Trustpilot content and the logo and stars on their own, we also wanted to explore the relative impact of different content components, namely the customer review, the TrustScore at different levels, and the volume of reviews.

Quote 2 Kyle Rao

### 2. Customer review

US consumers are 88% more likely to click through on a Trustpilot co-branded ad when it contains an authentic customer review.

Micael Saillen, CEO and Co-Founder at energy supplier Tate, has quantified adding a customer review as typically improving digital advertising clickthrough rates by 10% to 20%.

“People know brands say they are great in their adverts but when a company shows what people actually say about them, consumers know the advertiser is showing they have nothing to hide,” he says.


Example reviews in ads - CEU

Example customer reviews in ads

Quote Micael Saillen

CEO and Co-Founder, Tate

### 3. TrustScore

US consumers are 30% more likely to click through on a like-for-like Trustpilot co-branded ad when it specifies the high TrustScore behind the five-star rating. The ad with a 4.8 score performs 75% better than the ad with a 4.2 score.

Example ad trustscore - CEU

Example ad trustscore

### 4. Number of reviews

A Trustpilot five-star advert with a 4.8 score showing 500+ reviews is more than twice as compelling as an ad with no Trustpilot branding, according to our research.

example ads with number of reviews - CEU

Example ads with number of reviews

Mike Henderson is Chief Marketing Officer at SuretyBonds.com, which has a 4.9 TrustScore. He credits adding the number of Trustpilot reviews on the company’s digital advertising with delivering a 20% improvement in clickthrough rates.

Quote Mike Henderson

CMO, SuretyBonds.com

Our consumer research also shows that a Trustpilot five-star advert with 3,000+ reviews performs 10% better than the one with 500+ reviews.

According to Dan Cristo, Director of SEO Innovation at performance marketing agency Catalyst: “One of vs. our clients in the hospitality space has an average of 2,000 reviews on each property. These are real experiences customers volunteered to share with others simply because they wanted to tell their story. This desire to share experiences with others as a way to ‘pay it forward’ and help others in the community is a core part of how humans socialize.”

Quote Dan Cristo

Director of SEO Innovation, Catalyst

### 5. Impact on higher price

The research also found that a Trustpilot ad with five stars, TrustScore, 3,000+ reviews and a customer testimonial performs twice as well as the ad with no Trustpilot content, even when the price is 20% higher.

Example ads with higher price - CEU

Example ads with higher price

Adding all the possible elements of a Trustpilot rating — including logo, stars, score, number of reviews and a customer quote — is certainly paying dividends at fintech business PensionBee. Its Chief Marketing Officer, Jasper Martens, reveals the company puts all elements on its digital advertising which it credits with delivering a 15% rise in clickthrough rate.

“For us the Trustpilot logo and our score are a nudge to check us out,” he says. “The number of reviews is crucial in convincing people you’re providing a good service because if you have more than 5,000 people know it’s real, it’s very powerful. Ultimately, the customer voice is the main convincer, we believe, so customer reviews are essential.”

Quote Jasper Martens

CMO, PensionBee

If you're interested in sharing this report with others, why not download the free PDF version? It's quick and easy, just click the link below. 


### Authors

__Linus Gregoriadis – Director, London Research__

Linus is an experienced digital marketing analyst and business writer who co-founded London Research in 2017 as a sister company to Digital Doughnut, the world’s largest community of marketers and digital professionals, and also to Demand Exchange, an advanced B2B lead generation platform. He spent more than a decade setting up and building the research function at Econsultancy, a digital research and training company now owned by Centaur Media. After leaving Econsultancy, where he oversaw the production of hundreds of survey- based trends reports, buyers’ guides and best practice guides, he launched ClickZ Intelligence for B2B media company Contentive.

__Sean Hargrave – Journalist and business report writer__

Sean Hargrave is a journalist and business report writer covering media, advertising and marketing. He regularly writes for Digital Doughnut
and sister business, London Research. He also regularly writes for The Guardian, The Telegraph, and Wired on business and tech issues.

__We'd like to thank the following people for contributing to this report:__

- Kyle Rao, President and CEO, [eDrugstore.com](https://www.edrugstore.com/) / Secure Medical
- Melanie Schiller, Head of Brand Communication, [Octopus Energy Germany](https://www.octopusenergy.de/)
- Freek Rijken, Marketing Manager, [Bamigo](https://bamigo.com/)
- Micael Saillen, CEO and Co-Founder, [Tate](https://tate.it/)
- Mike Henderson, CMO, [SuretyBonds.com](https://www.suretybonds.com/)
- Dan Cristo, Director of SEO Innovation, [Catalyst](https://www.catalystdigital.com/)
- Jasper Martens, CMO, [PensionBee](https://www.pensionbee.com/)

### About London Research

London Research, set up by former Econsultancy research director Linus Gregoriadis, is focused on producing research-based content for B2B audiences. We are based in London, but our approach and outlook are very much international. We work predominantly, but not exclusively, with marketing technology (martech) vendors and agencies seeking
to tell a compelling story based on robust research and insightful data points.

As part of Communitize Ltd, we work closely with our sister companies Digital Doughnut (a global community of more than 1.5 million marketers) and Demand Exchange (a lead generation platform), both to syndicate our research and generate high-quality leads.

[Find out more about London Research](https://www.londonresearch.com/).

### Methodology

London Research was commissioned by Trustpilot to carry out a survey of 1,000 US consumers in September 2021. The nationally- representative survey included questions about sources of information and touchpoints used during the buying process, and also questions specifically about Trustpilot. A third (33%) of respondents said they were aware of Trustpilot customer ratings and reviews.

A survey-based research technique called MaxDiff was used to quantify consumer preferences when respondents were shown different combinations from a series of 10 different advertisements. Survey respondents were asked which online ads for a new cell phone plan they would be most and least likely to click in order to buy. The Appendix shows the 10 different ads shown to consumers, and the full results for the MaxDiff analysis (with relative levels of engagement expressed as percentages). The same research was carried out in the US, UK, Netherlands, Germany and Italy (5,000 consumers in total).

De waarde van consumentenreviews in advertenties (EU)

The complete guide to marketing with customer reviews: 2021 update

Trustpilot's complete guide to reviews

Reviews zijn geweldige social proof voor je bedrijf. Ze geven je marketingprestaties en conversies een aanzienlijke boost. Ontdek hoe je reviews optimaal benut in alle stadia van je marketing.

Als er iets is waar we allemaal op vertrouwen, zijn het reviews. 

Het [consumentengedrag](https://nl.business.trustpilot.com/reviews/learn-from-customers/consumer-behavior-in-the-age-of-coronavirus-global-review-trends-by-industry) is zelfs zodanig geëvolueerd, dat shoppers over de hele wereld vertrouwen op reviews van andere consumenten, om zo de meest actuele en nauwkeurige informatie over bedrijven te vinden.

Kun je meer doen met je klantreviews? Absoluut. Reviews bieden je bedrijf veel meer dan alleen feedback over je producten en diensten.

Reviews zijn goud voor je marketing. Met consumentenreviews kun je je merkvertrouwen opbouwen en dat omzetten in meetbare ROI zoals meer traffic en conversie.

In deze praktische handleiding laten we je precies zien hoe je je reviews in heel je marketingstrategie kunt inzetten voor betere bedrijfsresultaten.

We beginnen met een kort overzicht van de vele voordelen van reviews en hoe ze samenwerken om je business te boosten.

## Waarom elk bedrijf consumentenreviews nodig heeft

De positieve kringloop van reviewverzameling verloopt ongeveer als volgt:

### 1. Bouw merkvertrouwen op door reviews te verzamelen en erop te reageren

Via reviews delen je klanten openbaar hun mening over je producten, diensten en [customer experience](https://nl.business.trustpilot.com/reviews/learn-from-customers/5-reasons-why-customer-experience-is-the-pulse-of-every-business). Als je je klanten openbaar reviews laat plaatsen, kom je eerlijk en veilig over.  

### 2. Trek nieuwe klanten aan: voeg feedback toe aan je marketing

Door je klantreviews te laten zien, zet je je zuurverdiende merkvertrouwen om in meetbare ROI.

Droom je ervan om het zoekresultaat te worden waarop mensen daadwerkelijk klikken? Wil je meer traffic genereren met je e-mails en advertenties? Of meer browsers omzetten in kopers op je site? Wat je doel ook is — [social proof](https://nl.business.trustpilot.com/guides-reports/build-trusted-brand/why-and-how-social-proof-influences-consumers) zoals reviews, sterrenscores en klantcitaten helpen je er zeker bij.

### 3. Ontdek wat je klanten van je willen 

Inmiddels heb je een vertrouwd merk opgebouwd. Je hebt meer klanten dan ooit aangetrokken door betrouwbaarheid uit te stralen in al je marketing. Nu kun je al je nieuwe klantfeedback analyseren om je producten en service aan te scherpen.
Op die manier bouw je klantloyaliteit op en krijg je nog meer reviews, die je weer kunt gebruiken om nieuwe klanten aan te trekken en je bedrijf verder te ontwikkelen.

Klinkt goed, toch? Je hoeft simpelweg te beginnen met het [verzamelen van reviews](https://nl.business.trustpilot.com/features/get-reviews).

Dit is vooral gemakkelijk als je bedrijf werkt vanaf grote e-commerceplatforms — zo kun je direct aan de slag via Trustpilots native integraties voor [Shopify](https://nl.business.trustpilot.com/partners/shopify-plus), [BigCommerce](https://nl.business.trustpilot.com/partners/bigcommerce), [WooCommerce](https://nl.business.trustpilot.com/partners/woocommerce), [Magento](https://nl.business.trustpilot.com/partners/magento-commerce), [PrestaShop](https://nl.business.trustpilot.com/partners/prestashop), [Shopware](https://nl.business.trustpilot.com/partners/shopware), en [OpenCart](https://nl.business.trustpilot.com/partners/opencart).

complete-guide-to-reviews-img1

Trustpilot reviews displayed on a phone

## 15 manieren om reviews te gebruiken in je marketing

Zodra je wat reviews over je bedrijf hebt verzameld, kun je ze inzetten in je marketingstrategie, voor betere conversie en organische traffic.

## Optimaliseer organische SEO met consumentenreviews

[91,5% van organische traffic](https://www.searchenginejournal.com/seo-101/seo-statistics/#close) gaat naar sites die op de eerste resultatenpagina van zoekmachines worden vermeld. Je organische zoekpositie is dus essentieel wat betreft het bereiken van potentiële nieuwe klanten.

**Met dat in gedachten zijn er vijf manieren waarop je je klantreviews kunt gebruiken om je organische zoekresultaten te verbeteren.**

### 1. Versterk off-page SEO door reviews te verzamelen op een onafhankelijk platform

Off-page SEO zijn alle acties die je onderneemt om je digitale invloed buiten je website te versterken, bijvoorbeeld door betrouwbare links naar je pagina's te bouwen, je social media levendig en stabiel te houden, of via een profielpagina op een [extern reviewplatform](https://thenextweb.com/contributors/2018/02/26/can-independent-review-platforms-make-google-love-site/) zoals Trustpilot.

Off page SEO

off-page SEO diagram

Hoewel de algoritmen van zoekmachines voortdurend in ontwikkeling zijn, zijn [Moz](https://moz.com/learn/seo/off-site-seo)-experts van mening dat bepaalde aspecten van off-page SEO, zoals relevantie, betrouwbaarheid en autoriteit, meer dan 50% van je ranking bepalen.

Bouw je online aanwezigheid op met onafhankelijke reviews, en je bedrijf slaagt in alle drie deze aspecten. 

### 2. Verhoog referral traffic vanaf je Trustpilot-bedrijfsprofiel

Naast off-page SEO-voordelen voor je website, kan een Trustpilot-profiel ook je referral traffic (verwijzingsverkeer) aanzienlijk verhogen.
Wanneer iemand namelijk op zoek is naar reviews over een bepaald merk, vindt hij waarschijnlijk de [Trustpilot-profielpagina](https://support.trustpilot.com/hc/nl/articles/360013930439-Introduction-to-your-company-profile-page) van dat bedrijf in de bovenste zoekresultaten. En weet je waarom?

Niet om op te scheppen, maar Trustpilots [domeinautoriteit](https://moz.com/learn/seo/domain-authority) is sterk. Hoe meer reviews je verzamelt — dus hoe [rijker je inhoud op je bedrijfsprofiel wordt](https://support.trustpilot.com/hc/nl/articles/202616716-Customize-your-company-profile) — hoe gemakkelijker het voor zoekmachines is om je merk aan ons te koppelen en je Trustpilot-aanwezigheid bovenaan de zoekresultaten te tonen.

Hiermee onderscheidt je bedrijf zich van de concurrentie. Referral traffic wordt zelfs vaak over het hoofd gezien, ondanks dat het een gratis bron van gekwalificeerde leads is en zelfs je [organische zoekprestaties verbeteren](https://moz.com/blog/organic-traffic-without-ranking).

Lees hoe TaxSlayer via hun verrijkte profielpagina 500% meer referral traffic naar hun site genereren

### 3. Verhoog organische traffic met reviews op je website

Met review-widgets kun je heel eenvoudig je klantreviews weergeven op je belangrijkste landingspagina's. Deze kleine toevoeging aan je site zorgt ervoor dat je pagina's vaker in organische zoekresultaten verschijnen.
Dit komt omdat reviews een vorm van user-generated content zijn, wat goud is voor SEO:

- __Reviews vergroten de hoeveelheid tekst op elke pagina.__ Deze rijkdom aan tekst maakt de pagina waardevoller voor Google — het biedt de zoekmachine meer inzicht in het onderwerp en in hoeverre het overeenkomt met de zoekopdracht.
- __De sterrenscores van je reviews geven Google een idee over de kwaliteit van je producten en diensten.__ Google wil de meest hoogwaardige zoekresultaten laten zien om zo de beste gebruikerservaring te bieden.
- __Reviews voegen nieuwe inhoud toe aan pagina's die anders misschien niet vaak worden bijgewerkt.__ Dit vertelt Google dat de informatie over je bedrijf recent en up-to-date is en daarom de moeite waard is om hoog in de zoekresultaten te tonen. 
- 
Al deze elementen helpen [Google je website te begrijpen](https://nl.business.trustpilot.com/reviews/build-trusted-brand/why-does-google-care-if-your-business-has-online-reviews-in-2019). Dit zorgt er op de lange termijn voor dat zoekmachines je pagina's vaker weergeven en meer high-quality traffic naar je site leiden.

reviews are great for SEO because they provide fresh content and long tail keywords, both of which Google loves

complete-guide-to-reviews-img4

Google search on a laptop

### 4. Verkrijg review-snippets in organische zoekresultaten met productreviews

Marketeers gebruiken sterrenscores vooral in betaalde advertenties — dit behandelen we in het volgende gedeelte. Maar sterrenscores kunnen ook worden ingezet in organische zoekresultaten. Hiermee trek je shoppers aan die [minder geneigd zijn om op een advertentie te klikken](https://nl.business.trustpilot.com/guides-reports/build-trusted-brand/can-online-reviews-revive-consumer-trust-in-advertising). 

Onderzoek toont aan dat het [verzamelen van productreviews](https://nl.business.trustpilot.com/features/product-reviews) je kan helpen in aanmerking te komen voor [review-snippets](https://nl.business.trustpilot.com/reviews/get-seen-in-search/rich-snippets-stars-for-product-reviews-can-boost-seo) in organische zoekresultaten.

Schitter daar met je sterrenscores, en je trekt meer aandacht naar je productpagina's en verhoogt de organische CTR met maar liefst 35%.
Niet slecht!

Het werkt heel eenvoudig. 

Met onze reeks [e-commerce-integraties](https://nl.business.trustpilot.com/partners/type/apps) kun je met slechts enkele klikken een simpele code (de Schema-markup) aan je productpagina's toevoegen, zodat zoekmachines gegevens over je productreviews kunnen vinden. Dit geeft ze snel een idee van de algemene rating van je producten, zodat ze kunnen bepalen of je voldoet aan hun vereisten voor het weergeven van review-snippets.

Als je review-stats voldoen aan [Googles vereisten](https://developers.google.com/search/docs/data-types/review-snippet), kunnen je productpagina's worden weergegeven met prestatievehogende review-snippets op de zoekresultatenpagina’s (SERP's).

According to Conversion XL, review stars in search engine results can improve CTR by as much as 35%.

complete-guide-to-reviews-img5

According to ConversionXL, review snippets can improve click-through rate by as much as 35% in organic search

### 5. Kom in aanmerking voor longtail-zoekopdrachten met productreviews

Het verzamelen van productreviews geeft ook een SEO-boost aan elk van je productpagina's, en kan je bedrijf koppelen aan een breder scala aan relevante zoekwoorden. 

Door klanten simpelweg toe te staan reviews over je individuele producten achter te laten — en deze centraal op je productpagina's te plaatsen — verbeter je de zichtbaarheid van je site in [longtail-zoekopdrachten](https://www.frankwatching.com/archive/2016/06/22/maak-je-seo-strategie-future-proof-vaarwel-toptermen-hallo-longtail/).

Je kunt copywriten tot je een ons weegt, maar het valt niet mee om alle mogelijke trefwoorden en gebruiksvoorbeelden te bedenken voor een bepaald product. Gelukkig geven productreviews klanten het woord, waardoor ze hun unieke ervaringen met je producten kunnen delen.

De kers op de taart? Dit gebeurt allemaal automatisch — dus geen extra werk voor jou!

## Optimaliseer betaalde online campagnes met reviews

De consumenten van tegenwoordig willen geen advertenties of gelikte marketingberichten meer zien. Bovendien gebruikt meer dan [75% van hen nu een adblocker](https://deloitte.wsj.com/cmo/2018/04/03/are-consumers-adlergic-a-look-at-ad-blocking-habits/).

Daarnaast geeft onderzoek aan dat [minder dan 3 op de 10 consumenten](https://nl.business.trustpilot.com/guides-reports/learn-from-customers/trustworthiness-in-advertising-what-consumers-have-to-say) vertrouwen heeft in digitale advertentiekanalen.

Gelukkig kunnen consumentenreviews en sterrenscores de prestaties van je digitale campagnes wél verbeteren, op de kanalen die de [grootste invloed](https://nl.business.trustpilot.com/guides-reports/build-trusted-brand/can-online-reviews-revive-consumer-trust-in-advertising) hebben op de aankoopbeslissingen van consumenten.

### 6. Ontvang Google seller-ratings voor betere Google Ads-prestaties

[Google seller-ratings](https://nl.business.trustpilot.com/reviews/get-seen-in-search/how-to-land-great-reviews-and-boost-your-google-seller-rating) zijn nauw verwant aan review-snippets in organisch zoeken. Hiermee kun je: 

- Aanzienlijke social proof aan je betaalde zoekresultaten toevoegen.
- Je bedrijf onderscheiden van de concurrentie.
- Je Google Ads-CTR verhogen.

Een hogere CTR leidt vaak tot meer sales en verbetert je [kwaliteitsscore](https://support.google.com/google-ads/answer/140351?hl=nl), waardoor je traffic ontvangt tegen lagere kosten per klik. Dit geeft je lagere kosten per acquisitie en maakt meer budget vrij voor de rest van je bedrijf.

Maar vergeet niet: alleen Google zelf beslist of je seller-ratings al dan niet worden weergegeven in je betaalde advertenties. Dit gebeurt aan de hand van Googles meest recente [richtlijnen](https://support.google.com/google-ads/answer/2375474?hl=nl), die vaststellen hoeveel reviews en welke score een bedrijf moet hebben voordat diens sterren in [Google Ads](https://nl.business.trustpilot.com/reviews/browsers-to-buyers/why-wont-my-google-seller-ratings-show-up-and-4-other-gsr-questions) verschijnen.

Zodra je aan hun vereisten voldoet, worden je [Google seller-ratings](https://nl.business.trustpilot.com/reviews/get-seen-in-search/how-to-land-great-reviews-and-boost-your-google-seller-rating) weergegeven in Googles zoekresultaten, Google Shopping-listings en zelfs in de resultaten van Google-zoekpartners.

Ons advies? Ga meteen aan de slag om aan Googles vereisten te voldoen.

### 7. Optimaliseer je retargeting-strategie

Met [retargeting-campagnes](https://blog.alexa.com/retargeting-vs-remarketing/), betaalde advertenties op verschillende platforms, trek je opnieuw de aandacht van potentiële klanten die je website of social media al eens hebben bezocht. De extra social proof kan net dat duwtje in de rug zijn om ze over de streep te trekken.

Welk platform je hier ook voor gebruikt; al je [advertenties presteren beter](https://nl.business.trustpilot.com/customer-stories/finance-insurance/why-taxslayer-chose-trustpilot-to-leverage-customer-feedback) als je er reviews bij gebruikt. Zo kun je:

- Een review citeren.
- Je algehele score aan je afbeeldingen toevoegen.
- Laten zien hoeveel klanten je een hoge score hebben gegeven.
- Reviews creatief inpassen zonder dat je er enige grafische vaardigheden voor nodig hebt! Gebruik simpelweg Trustpilots [image generator](https://nl.business.trustpilot.com/features/social-media-tools) voor social media.

Lees meer over Trustpilots social media-tools

## Emailmarketing is succesvoller met reviews

De meeste mensen ontvangen vele tientallen marketing-e-mails per week of zelfs per dag. Van geen wonder dat gemiddeld slechts [22%](https://mailchimp.com/resources/email-marketing-benchmarks/) van de ontvangers zo’n e-mail opent. Hoe zorg je dat ze juist de jouwe openen? __We beschrijven het in de onderstaande stappen.__

### 8. Verhoog je e-mail-CTR met reviews en klantcitaten

Reviews helpen de [klikfrequentie van je e-mails te verhogen](https://nl.business.trustpilot.com/reviews/browsers-to-buyers/4-email-marketing-strategies-to-unlock-black-friday-sales-volume-throughout), waardoor je conversie toeneemt.

Met e-mail kun je ook je reviews creatief inzetten als basis voor verschillende soorten content en CTA’s, zonder restricties op het aantal woorden of afbeeldingen. De ene e-mail kan bijvoorbeeld gericht zijn op after-sales, en een andere juist op feedback over een bepaald productkenmerk.

Of je nu een maandelijkse nieuwsbrief, seizoensuitverkoop of een dynamische remarketingcampagne opstelt — met een [relevante review](https://nl.business.trustpilot.com/reviews/inside-trustpilot/social-proof-in-email-marketing-is-easier-than-ever-with-trustpilots-klaviyo) erbij lok je je lezers meteen met de social proof waar ze naar zoeken. Het resultaat? [Meer mensen klikken](https://www.campaignmonitor.com/blog/email-marketing/2019/06/improve-your-ctr-using-social-proof/#:~:text=4.,a%2037.5%25%20increase%20in%20conversions) door naar je landingspagina en je conversie schiet omhoog.

Bovendien zegt [82% van de shoppers](https://nl.business.trustpilot.com/guides-reports/build-trusted-brand/why-and-how-social-proof-influences-consumers) dat reviews in e-mailmarketing hen direct tot kopen motiveert. 

### 9. Benadruk je reputatie in je welkomstcampagnes

Welkomstcampagnes bieden de eerste mogelijkheid om een directe relatie op te bouwen met een toekomstige klant. De meeste mensen op je mailinglijst hebben nog niets gekocht en weten waarschijnlijk weinig van het bedrijf af.

Dit is je kans om hen ervan te overtuigen om juist bij jou te kopen — en wat is een betere manier dan je tevreden klanten voor je te laten spreken?

Beschouw je reviews als een dynamische database vol veelzijdige inhoud waarmee je verschillende doelgroepen zoveel mogelijk aantrekt.

Ben je net begonnen met het opbouwen van relaties met potentiële klanten? Hier zijn wat ideeën om je op weg te helpen:

- Verrijk elke e-mail met een relevante review over een specifiek product of algemene klantervaring.
- Breng je best beoordeelde producten en diensten onder de aandacht met je reviews.
- Toon verrassende of grappige klantcitaten om te stralen met je merkimago.

### 10. Benadruk je geloofwaardigheid in je koptekst, voettekst en het e-mailonderwerp

Elke aparte e-mail moet een bewijs van je betrouwbaarheid bevatten. Voeg bijvoorbeeld simpelweg je score toe aan de koptekst van je e-mail, of een klantcitaat in de voettekst.

Je kunt ook e-mails versturen die allemaal over social proof gaan, aangezien deze doorgaans een geweldige respons krijgen. Enkele ideeën:  

- Onze best beoordeelde producten deze maand.
- Bedankt dat je van ons een 5-sterrenbedrijf hebt gemaakt!
- Vijf manieren waarop we je reviews hebben gebruikt om onze klantenservice te verbeteren.
- Maak kennis met Suus, onze beste klantenservicemedewerker.
- We vonden onze theepotten al geweldig, maar jullie feedback heeft ze nóg beter gemaakt!
- Je favoriete producten.

Complete Guide to Reviews Quote Jillian Lore

Trustpilot logo Round Star BlueBG 420x420

Digital Marketing Specialist, Rush49

### 11. Je herinneringsmail aan klanten die nog iets in hun winkelwagen hebben staan, is veel effectiever met reviews erin

Sommige klanten verlaten altijd wel hun winkelwagentje, dus een campagne om ze aan te moedigen terug te komen en af te rekenen, is erg belangrijk.

Volgens [Klaviyo](https://www.klaviyo.com/blog/whats-is-abandoned-shopping-cart-email)-experts is het gemiddelde verlatingspercentage van een winkelwagentje ongeveer 70% op desktops en maar liefst 85% op mobiel. Steeds meer bedrijven zetten dus herinnerings-e-mails in, en velen vertrouwen daarbij op het gebruik van aanbiedingen. Echter, met reviews kun je een voldoende hoge respons genereren zonder dat je er de prijzen voor hoeft te verlagen.

Het toevoegen van enkele reviews aan deze mails kan al voldoende zijn om winkelwagenverlaters voor je te winnen, zonder dat dit ten koste hoeft te gaan van je winstmarge.

Wat voor e-mailcampagne je ook voert — met onze integraties voor grote e-mailproviders zoals [Klaviyo](https://nl.business.trustpilot.com/partners/klaviyo), [Fresh Relevance](https://nl.business.trustpilot.com/partners/fresh-relevance) en [Movable Ink](https://nl.business.trustpilot.com/partners/movable-ink), is het weergeven van je Trustpilot-reviews een fluitje van een cent.

Adding reviews to your cart abandonment email campaigns can boost CTR by up to 220%

complete-guide-to-reviews-img7

NewYorkDress saw a 220% increase in CTR after adding reviews to their cart abandonment emails

## Boost je websiteconversie

Tegenwoordig zoekt [89%](https://nl.business.trustpilot.com/partners/movable-ink) van de consumenten online reviews tijdens het webwinkelen. Tegen de tijd dat een potentiële klant op je website belandt, is de kans groot dat ze al een eerste positieve indruk van je merk heeft opgedaan.

Dit moet worden versterkt op je website. Bied je bezoekers steevaste zekerheid op al je pagina’s, en je verhoogt de kans dat ze bij je kopen.
Hieronder lees je hoe je van je website een ware [conversie-booster](https://nl.business.trustpilot.com/reviews/browsers-to-buyers/what-is-conversion-rate-optimisation) maakt.

### 12. Homepagina: de eerste indruk telt op je centrale landingspagina

Bij website-optimalisatie wordt de homepagina vaak vergeten ten gunste van pagina's later in het afrekenproces, zoals winkelwagen-, afreken- en productpagina's. Een gemiste kans!

De homepagina is op bijna alle websites de meest bezochte pagina en bovendien vaak de primaire landingspagina. Hier krijgen klanten hun eerste indruk van je bedrijf, ook is het een pagina waar velen naar terugkeren.
Laat hier je reviews centraal staan!

Hier zijn enkele tips voor het gebruik van reviews op je homepagina, om zo een goede eerste indruk te maken:

- Benadruk zowel de kwaliteit als de kwantiteit van je reviews: "We hebben dit jaar 2.365 reviews ontvangen, waarvan 95% met 5/5 sterren".
- Geef 3-5 recente klantreviews weer. Dit toont je beste eigenschappen en producten.
- Zet je best beoordeelde producten in de schijnwerpers: "Deze producten hebben 5 sterren gekregen van onze klanten".

Onthoud dat je homepaginabezoekers op zoek zijn naar [tekenen van betrouwbaarheid en andere social proof](https://nl.business.trustpilot.com/reviews/build-trusted-brand/what-is-social-proof-and-why-is-it-important-for-marketing) over je bedrijf. Win er hun vertrouwen met een highlight reel of algemene stats over je klantreviews.

complete-guide-to-reviews-img9

ThirftBooks have embedded customer reviews throughout the customer journey

### 13. Voeg review-widgets toe aan productpagina's

Productreviews zijn echte SEO-krachtpatsers, maar ze tillen ook de [conversie van je productpagina’s enorm omhoog](https://nl.business.trustpilot.com/customer-stories/ecommerce/ann-summers-uses-product-reviews-to-increase-sales-up-to-23). 

Volgens [Shopify](https://www.shopify.com/blog/15359677-why-online-store-owners-should-embrace-online-reviews)-experts vertrouwt 79% van de online shoppers productreviews evenveel als een persoonlijke aanbeveling. En andere onderzoeken concluderen dat mensen [productreviews 12x meer vertrouwen](https://econsultancy.com/ecommerce-consumer-reviews-why-you-need-them-and-how-to-use-them/) dan fabrikant- of productbeschrijvingen. Kortom, [relevante productreviews op productpagina’s](https://nl.business.trustpilot.com/features/trustbox-widgets) maken de koopbeslissing een stuk makkelijker voor je klanten.

Productreviews zijn op zichzelf al geweldig, maar er zijn enkele belangrijke redenen om een reviewplatform te kiezen dat reviews kan bieden met [user-generated content](https://business.trustpilot.com/features/product-reviews) en afbeeldingen.

Millennials vertrouwen user-generated content [50% meer](https://www.iab.com/insights/user-generated-content-for-marketing-and-advertising-purposes/) dan traditionele media en denken dat deze 20% meer invloed heeft op aankoopbeslissingen en 35% meer memorabel is dan andere soorten media.
Het is [3x zo waarschijnlijk](https://www.iab.com/insights/user-generated-content-for-marketing-and-advertising-purposes/) dat mensen user-generated content als echt interpreteren in vergelijking met content dat door het bedrijf zelf is geproduceerd.

Dus als je bedrijf fysieke producten verkoopt, maak dan absoluut gebruik van [user-generated content op je productpagina's](https://business.trustpilot.com/reviews/build-trusted-brand/4-great-examples-of-user-generated-content).

### 14. Voeg sterrenscores toe aan de kop- en voettekst van je site

Afhankelijk van hun zoekopdracht, kunnen klanten op vrijwel elke pagina van je site terechtkomen. Elke pagina biedt dan ook een kans om hen tot kopers om te zetten. 

De eenvoudigste manier om met je reputatie te schitteren, ongeacht waar bezoekers terechtkomen, is met je sterrenscore in de kop- of voettekst.

Een kleine verandering, een groot verschil. 

### 15. Exitpagina's: houd bezoekers op je site

Elke customer journey heeft zijn beginpunt en eindpunt. Is dat eindpunt vaak niet de pagina ‘Bedankt voor je bestelling’? Dan is het tijd voor een conversie-boost:
Identificeer eerst alle pagina's met hoge exitpercentages. Ga hiervoor naar het [‘Exitpagina's’-report](https://www.paperstreet.com/blog/how-to-use-google-analytics-to-identify-exit-pages-and-improve-them/) in Google Analytics en zoek naar de pagina's met veel traffic en een hoge exitscore.

Heb je de probleempagina's geïdentificeerd? Plaats daar dan je reviews om het exitpercentage te verlagen.

Met exitpagina's is het de moeite waard om goed naar de daadwerkelijke pagina te kijken om mogelijke problemen te ontdekken:

- Zijn er voldoende CTA's om mensen op de site te houden?
- Werkt de pagina niet goed, leidt het nergens toe?
- En natuurlijk: zijn er reviews die echt zouden helpen op deze pagina?

Met Trustpilots [Review Tagging](https://nl.business.trustpilot.com/features/review-tagging) kun je eenvoudig de juiste reviews op de door jou geselecteerde pagina's weergeven.
Zo is de pagina 'Levering en retouren' bijvoorbeeld een veelvoorkomende exitpagina, dus als je reviews hebt waarin klanten je levering- en retourservice prijzen, is het een goed idee om deze hier te plaatsen.

## Laat je klant spreken en je bedrijf groeit

Hopelijk zie je nu oneindig veel creatieve manieren waarop je reviews kunt integreren in je marketing en sales om je bedrijf naar nieuwe hoogten te tillen.

Consumentenreviews zijn alles wat je nodig hebt om je succes op gang te brengen:

- Bouw merkvertrouwen op door reviews te verzamelen en te reageren op klantfeedback.
- Trek nieuwe klanten aan door reviews toe te voegen aan je marketingcampagnes en in alle stadia van de customer journey op je site.
- Profiteer van de goudmijn aan nieuwe user-generated content dankzij een gestage stroom reviews.

En zo is het kringetje rond en blijft je bedrijf groeien, allemaal omdat je je klanten centraal stelt in je marketingstrategie.

Wil je zoveel mogelijk uit je reviews halen? Richt dan al je inspanningen op je [reviewverzameling](https://nl.business.trustpilot.com/features/review-invitations), totdat je een [aanzienlijke hoeveelheid social proof](https://nl.business.trustpilot.com/reviews/build-trusted-brand/3-reasons-why-you-really-need-to-get-more-reviews) hebt om mee aan de slag te gaan. Dit maakt het nog gemakkelijker om je reviews in al je marketing onder de aandacht te brengen en ze zelfs af te stemmen op specifieke campagnes en aanbiedingen.

Dus stel jezelf, tijdens je volgende online of [offline](https://nl.business.trustpilot.com/guides-reports/build-trusted-brand/ratings-and-reviews-in-above-the-line-advertising) campagne of nieuwe uitdaging, de volgende vraag: hoe kunnen reviews de respons vergroten?

Gratis demo? Neem vandaag nog contact op met een van onze review-experts

De ultieme handleiding voor reviews: 2021 update

cover-1880x1057

Local research report cover

Social proof is meer dan ooit van invloed op de manier waarop we tegenwoordig winkelen. Ontdek de kracht van onafhankelijke reviews, de invloed op online verkoop en hoe je er je voordeel mee kunt doen via ons whitepaper op basis van onderzoek van YouGov.

__Social proof__ is meer dan ooit van invloed op de manier waarop we tegenwoordig winkelen. Onafhankelijke reviews spelen daarbij een grote rol in e-commerce. Hoe doe je hier je __voordeel__ mee? Het onderzoek van marktonderzoeksbureau YouGov geeft ons een __gedetailleerd inzicht__ in de __invloed van reviews op koopbeslissingen__. We bespreken onder meer: 

- het belang van reviews per __leeftijdsgroep__;
- de impact van __kritische reviews__ en hoe je ermee omgaat;
- strategieën voor __klantbehoud__.

Benieuwd naar de resultaten en hoe je bedrijf het meeste kan halen uit deze waardevolle feedback? Bekijk onze gratis whitepapers nu:

[__Onderzoekswhitepaper Nederland__](https://f.hubspotusercontent10.net/hubfs/2749863/CEU%20Demand%20Generation/CEU%20HERO%20AND%20LOCAL%20CONTENT/Local%20content%20/NL-Consumer-research-Report.pdf)

[__Onderzoekswhitepaper België__](https://f.hubspotusercontent10.net/hubfs/2749863/CEU%20Demand%20Generation/CEU%20HERO%20AND%20LOCAL%20CONTENT/Local%20content%20/BE-Cosumer-Research-Report.pdf)

Local research report thumbnail

De invloed van reviews in het digitale tijdperk

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Our new report explores what approaches CMOs take in relation to brand purpose, and what consumers look for in brands. Taken together, we hope this research will help marketers better resonate with customers through their purpose driven initiatives. 

Read our report to better understand:

- How much a brand’s purpose matters to consumers today
- The top social, political and environmental stances consumers consider when making a purchase, compared to the stances CMOs adopt
- The top motivations and barriers for CMOs when adopting purpose
- Six practices for brands to follow in order to successfully use brand purpose

Brands that take a stand: Marketers who match consumers’ desire for purpose and honesty come out on top

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Turning transactions into trusted relationships

This research explores the value of showcasing customer ratings and reviews in advertising, and in particular the impact of Trustpilot content in digital campaigns. Based on a survey of 1,000 US consumers and interviews with Trustpilot business customers

Alternatively, you can download the infographic, with all of our research's findings.

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The value of customer ratings and reviews in advertising in the US

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Our new report Brand integrity: the new frontier for marketing explores consumer expectations surrounding purpose-driven brands, including which social, political and environmental stances make them more or less likely to buy from or recommend a brand.

The consumer research uncovers: 

- How much a brand’s purpose matters to consumers today
- The top social, political and environmental stances consumers consider when making a purchase 
- Which factors make consumers less likely to buy from a brand
- Which information sources consumers check to find out if brands live up to their claims 


Brand integrity: the new frontier for marketing

the importance of social proof in fintech trustpilot report 2019

The challenge is not just a technological one. They need to convince customers to switch from the wellknown names they are familiar with, by soliciting, and then displaying, positive ratings and reviews.

When London Research and Trustpilot surveyed start-ups and scale-ups, the conclusion was very clear. Customer experience is seen as the most important differentiator for emerging brands, ahead of product innovation.

This is because good ratings create a virtuous circle through which delighted customers encourage new users to sign up. This makes the fintech more investable, which then funds feature improvements which encourage more customers to sign up and rate the service highly.

The survey of 143 start-ups and scale-ups found that:

- More than a third (35%) find ratings and reviews ‘critical’ for converting prospects into new customers, and a further 57% said they are ‘important’ or ‘quite important’.
- Nearly a third (31%) believe that positive reviews and social proof are critical for generating interest from investors, and a further 52% said they were important.
- Around a fifth (21%) of those surveyed have been asked by investors to provide customer centricity proof points such as ratings and reviews, and a further 43% have proactively provided this information.
- More than half (52%) advertise their customer ratings on their websites, while 46% take to social media and nearly a third (31%) use email to display ratings.
- Around two-thirds (65%) of those surveyed strongly agree that they have built their business around an understanding of what customers really need.

The key for start-ups and scale-ups is to engage with and manage the review process, to make sure the resulting rating accurately reflects customers’ opinion of the business. This doesn’t mean removing bad reviews from view, since occasional criticisms reassure users that the good reviews are genuine.

As noted above, they also provide crucial feedback for improvement. Companies should be actively soliciting reviews from their customers, and use them to their advantage by funnelling that information back into the business to improve processes, products and services. The opportunity for a five-star rating is too important to be left to chance.

## Introduction

According to [KPMG](https://home.kpmg/uk/en/home/media/press-releases/2019/02/uk-remain-leader-in-fintech-investment-but-loses-global-crown.html), fintech investment across the world doubled to $111.8 billion in 2018, with the US, China and the UK leading the way. In the UK alone, total investment in fintechs in 2018 was almost four times higher than 2017 levels ($20.7 billion versus $5.6 billion).

These record-setting levels of investment show there is a clear appetite to try new services and fund them, but it means standing out in a crowded marketplace is a major challenge.

The ultimate aim of fintech start-ups and scale-ups is to repeat the success of a company like TransferWise. It has signed up more than five million users since launching in 2011 and, through its latest round of funding, saw its [market valuation double to $3.5bn](https://www.ft.com/content/812966e4-7bb2-11e9-81d2-f785092ab560) in May 2019.

A key element of TransferWise’s strategy was to use the ratings from its customers to demonstrate to potential investors it was meeting an unfulfilled need. This report is based on research conducted for Trustpilot by London Research, which shows that this type of social proof is increasingly used by fast-growing businesses, including those in the fintech sector, to show investors that they are highly investable, as well as to gain traction among customers.

The research also shows that companies are using ratings and reviews to improve their customer experience, and innovate on their products and services.

## Section 1: Building customer trust through social proof

Every disruptive start-up or scale-up needs to leverage consumer dissatisfaction with the way things are traditionally done in their sector, and channel it into engagement with their own challenger service.

These relatively small but ambitious companies are at an obvious disadvantage compared to globally known brands with huge advertising budgets. They are also competing against all the other start-ups in their sector, some of which will be spending their VC investments launching expensive marketing campaigns.

Persuading a prospect that a new market entrant is trustworthy is a challenge, particularly in the financial services sector where customers’ savings and future financial health can be at stake. Although fintechs can point out that they operate in a highly regulated industry, many say that their most effective message is the reassurance offered by existing customers giving their service a high rating or a good review.

Such is the importance of the customer experience that it outweighs innovation in the eyes of start-ups and scale-ups. 

According to the London Research survey, almost half (46%) felt the most important differentiator for their business was the quality of the customer
experience it offered, compared to 38% for ‘product / innovation’, traditionally seen as a startup’s raison d’être. Customer experience is also seen as significantly more important than brand awareness (7%), online reputation (5%) and price (4%).

Start-ups and scale-ups need to capitalise on the quality of their customer experience for marketing purposes. The research also showed that more than a third (35%) of the companies surveyed view positive ratings as ‘critical’ for turning prospects into customers, and a further 47% regard them as ‘important’.

### Ratings are crucial for establishing trust

Smart Currency Exchange helps people transfer money between different countries and currencies. The company’s Digital Marketing Manager, Ricky Bean, is all too aware how nervous customers can be when they are asked to hand over their life savings to a third party to help them buy their dream property in the sun.

The company, like any other currency exchange in the UK, is highly regulated by the Financial Conduct Authority. This provides reassurance for potential
users. However, Bean believes ratings are still incredibly important for its prospective customers.

“Our real differentiator is customer service and that’s what the Trustpilot ratings show,” he says.

“When we onboard somebody, we ask them to consider rating us and when we’ve made a transfer, we send them another email, from the person who helped them, asking for a rating and a review.

“Then when we talk to, or email, our next prospect, we always mention our five-star Trustpilot rating. For people to know we’re highly rated is crucial when it comes to such an emotional purchase using their life savings. It’s why we have our score front and centre on our home page.”

### Using ratings to improve customer service

Abba Newbery, CMO at mortgage broker Habito, agrees ratings and reviews are crucial. The company, which has already raised more than £27m in investment, uses ratings to reward staff for providing great customer care which, in turn, encourages better reviews to help persuade more new customers to sign up.

Habito aims to make getting a mortgage a lot simpler and quicker by matching customers with the best package and providing them with a customer care
assistant to hold their hand throughout the process. Customers can rate both the service and the assistant who helped them.

“User reviews are absolutely vital in getting new people to try your service,” Newbery says. “Broking has always been a part of financial services that relies heavily on word of mouth, and so we encourage our customers to rate us to show we make one part of buying a house a lot easier. Our customers build a close relationship with their advisers, who ask them to rate the service they receive.

“We value this Trustpilot score so highly we not only put in on our home page, but we also use it for members of staff in our employee reviews process.”

### How fintechs encourage reviews

The London Research/Trustpilot survey shows that 55% of start-ups and scale-ups actively encourage consumers to leave reviews. The most common method is by email (75%), followed by verbal requests for a rating (64%). One in three companies surveyed are also taking to social media to secure ratings from
their – hopefully – happy customers.

Once a fintech has secured some positive ratings, the next step is to ensure prospects know about them. The most common channel for displaying positive ratings is the brand’s website, used by just over half (52%) of scale-ups and start-ups. Social media channels are harnessed for this purpose by nearly half of those surveyed (46%), with email being used by one in three (31%).

## Section 2: The importance of customer ratings to investors

Ask any investor what they look for in a business asking for funding and there will be some common answers. A start-up or scale-up needs to have a great team behind it. Financiers ultimately invest in people they trust to turn a business plan into a thriving company that will offer good returns and, one day, a valuable exit route.

It must also answer a customer need. The London Research survey shows investors are now also looking for social proof to establish if a company
offers a good service which people rate highly.

Nearly a third (31%) of the start-ups and scale-ups surveyed deemed positive reviews and social proof to be ‘critical’ for generating interest from investors, and a further 52% said they were important.

### Ratings tell investors the real story

Every VC wants to find the next big thing. At techfocused VC Draper Esprit, Investment Director Vinoth Jayakumar explains that his firm, which takes a
longer-term view than many, looks for people who can break the mould. To judge how well a service is going down with consumers, he looks beyond the
metrics over which the company may have control to focus on what the public thinks.

For this, Jayakumar goes beyond the ‘organised sanity’ of Net Promoter Score (NPS) and marketing questionnaires, and delves into the live environment
of ratings.

“__Companies will show us their NPS figure, but I also always look them up on Trustpilot because it captures the essence of what it’s like for consumers using the service,__” he says. “It’s important that you know these are genuine people, who aren’t being paid in any way. They let you see the direction of travel is correct.

 “We know that a five-star rating is better than four-star but exactly how many new customers that attracts, we don’t know for sure. We invest in
companies for the long term. We know their score may change, hopefully for the better, and so we look for a rating to show that someone has built a
proposition that people want.”

Our research shows that not all investment companies are as tuned in to the importance of positive consumer sentiment as Draper Esprit. Around a fifth (21%) of start-ups and scale-ups surveyed have been asked by investors to provide customer centricity proof points such as ratings and reviews, but a further 43% have proactively quoted social proof such as ratings when dealing with investors.

Peer to peer lending company Funding Circle certainly understands the link between how investable a company is and its Trustpilot score. It has successfully helped more than 49,000 businesses access finance. It’s the job of Bernard De Barbeyrac, Head of Decision Science, to assess how suitable a
company is for investment and band them based on potential risk.

“In the first instance we take a quantitative approach to build up the risk profile of a business wishing to go onto our investment platform,” he says. “After this, the underwriting team take more of a holistic approach to assess creditworthiness. They also look at external facing proof points such as Trustpilot and customer reviews to see if there are any potential reputational problems for future investors.”

### When your users are your investors

Just as fintechs are changing the way the public
interacts with financial services, technology has also
disrupted traditional investment models by allowing
the public to crowdfund businesses they believe in.

That means some of the brightest ideas in financial services have many individual investors looking for a public-facing scorecard to gauge how well the business is doing in serving existing customers and, hence, attracting new ones.

Richard Cook, Online Community Manager at Monzo Bank, explains that a __fintech needs to look at its ratings not just for itself, but also to ensure its customers and investors are happy, because they are often the same people.__

 “We’ve now got 36,000 investors and our Trustpilot ratings and reviews are something that crops up on our forums all the time,” he says.

“People who have backed us want to talk about our latest scores and what we are doing to move them in the right direction because they understand new customers want a good reason to sign up to a challenger bank. They don’t come better than positive ratings and reviews.”

### Ratings reach an investment and marketing sweet spot

Crowdfunding also provides another huge benefit for fintech start-ups. As a growing company reaches out to the public for backing, they are also raising
awareness of their new service.

Hence, according to Roberto Napolitano, Marketing Director at Seedrs equity crowd funding platform, there is a virtuous circle developing. Platforms such as his are used by start-ups to raise awareness of their new service, attract new sign-ups, solicit positive ratings so they not only secure additional users, but also encourage members of the public to invest.

“We certainly see a lot of start-ups use the platform to help build awareness about themselves and get people to try them out so they can rate it,” he says.

 “These ratings show potential investors that a company is interested in engaging with customers and improving on what they have to say; that they’re not solely about raising revenue. __Ratings are a very powerful tool for investors to take the pulse of a potential investment to see if anything needs to be improved.__

“It’s also useful for allowing start-ups and scale-ups to see how other companies are doing, what scores they’re getting, where they’re doing well, and where they’re getting tips on how they could improve.”

## Section 3: Harnessing consumer feedback for improved CX and innovation

Start-ups and scale-ups are finding that developing a great solution to a nagging problem in financial services is a great start, but it is only a start. Moving beyond a great idea to build scale by listening to customers, and being seen to do this, are top priorities.

As can be seen in Figure 5, __two-thirds (66%) of companies strongly agree that a reputation for openness and transparency is crucial for their
brand__ and, encouragingly, a similar percentage (65%) strongly agree that they have built their business around an understanding of what customers really need.

To achieve this, they need to take control of their ratings, listen to feedback, act on it, improve their offering and then, crucially, encourage users to rate them so their scores evolve and more new customers sign up.

### The need to take control

Fintechs are going to be rated whether they have engaged with the process or not. It’s only by being proactive with review collection that you can get an
accurate picture of your customers’ views.

When Monzo’s Cook decided to explore the use of Trustpilot ratings, for example, he found that they were lower than he expected. The bank looked like it was providing an inferior service, which other evidence suggested was not the case.

“Trustpilot always came up first on a Google search for our reviews and we were shocked to see we were only a three out of five,” Cook recalls.

“We knew our customers generally thought we were doing a good job and that we were much better than a three-star rating. When we drilled down, we
were getting some bad reviews from people whose accounts we had to freeze. We’re a licensed bank and so we have to apply the law and that sometimes
means freezing accounts.

“That’s when we decided to really get to work on our ratings and we now regularly ask our members to review us, so the good reviews far outnumber the bad ones. We’re very nearly at a five-star rating and, when we are, we intend to use the stars in our advertising.”

### Listen and improve

The business side of banking shares many of the frustrations that consumers experience with traditional banking brands. Laborious form-filling and lengthy decision-making processes, combined with nontransparent fee structures, prompted Capital on Tap to launch a service that is upfront about fees and can let a company know if they qualify for a loan within two
minutes.

The business lender’s Head of Growth, Alex Miles, reveals that it is only by listening to customers that the company can take the initial discontent with the banks and turn it into repeat business from customers who are happy to spread the word about what they have found to be a better alternative.

__“We use our ratings to show prospects how popular we are with users but, crucially, we use the feedback from them to keep on improving our service,” he says.__

“We’ve made many improvements but the biggest we were getting asked about, in our Trustpilot rating reviews, was integration with accountancy packages, such as Xero. So that’s something we’ve done, and we’ve encouraged our users to try out the better service and rate us, so we create a virtuous circle of
better features leading to higher Trustpilot scores, which encourages more people to try out the service.”

### A barometer for business success

It may seem obvious that user ratings are a useful barometer for how a company is serving its clients, and that more people will sign up for a new service if existing customers have expressed their delight.

An interesting question, though, is what happens when the opposite occurs, and ratings dip? The mortgage broker, Habito, found that it could use its
Trustpilot score as a guide not just to how well it was performing, but how well other parts of the business were impacting that performance.

“We had a major marketing drive to get more people on the platform, which worked really well,” Habito’s Newbery says.

__“The problem was it probably worked too well, and we found that we had more customers than we could serve to our usual very high standard. We noticed our Trustpilot scores started to drop off a little, and so we knew we had to take immediate action and scaled down the marketing activity.__

“Our Trustpilot rating is too valuable to us in the longer term to allow it to go down and risk discouraging people to sign up and try us out.”

## Conclusion: Ratings help create unicorns

It is no secret that every fintech start-up and scaleup is trying to follow in the footsteps of the likes of TransferWise and Revolut to become the next billionpound ‘unicorn’.

This research shows that to do so, they are concentrating more on the customer experience they provide than on innovation (46% vs. 38%). Despite
the sector being crowded with emerging tech-driven companies that have a new approach to how legacy financial services are handled, providing customers with the best experience possible is the top priority.

It is clear that this is because they realise that focusing on the customer builds a virtuous circle, based on ratings and reviews. These are considered
as ‘important’ or ‘critical’ by a majority (82%) of start-ups and scale-ups. This is because praise from delighted users is fundamental in convincing
prospects to sign up. 

It helps grow the user base and provides compelling evidence that the company is answering a consumer need with a popular service that, in turn, helps it stand out as highly investable.

It comes as little surprise, then, that nearly two in three of the fintech companies surveyed revealed they had been asked to provide ratings scores or they proactively decided to include them in presentations when seeking funding.

The research shows that a great customer experience rates above innovation, brand awareness and price when it comes to winning new customers. This
means that ratings are a crucial tool in achieving fintech companies’ top-line strategy of both attracting new users and accessing the necessary investment to deliver on their vision of becoming the next unicorn.

__*Please note that this report was written in August 2019 and optimised in February 2021.*__

### Methodology

As well as conducting the interviews for this research, London Research also carried out a survey of 56 start-up and 87 scale-up businesses across all major business sectors, including fintech companies. The survey was promoted via email and social media channels by both London Research and its sister company Digital Doughnut in May 2019. The vast majority of responding companies were in the USA (43%) and the UK (35%). The breakdown by region was as follows: North America (45%), Europe (43%), Asia Pacific (5%), Other (7%).

### Acknowledgements

London Research and Trustpilot would like to thank the following people for their insights.

- Ricky Bean, Digital Marketing Manager, Smart Currency Exchange
- Richard Cook, Online Community Manager, Monzo Bank
- Vinoth Jayakumar, Investment Director, Draper Esprit
- Alex Miles, Head of Growth, Capital on Tap
- Roberto Napolitano, Marketing Director, Seedrs
- Bernard De Barbeyrac, Head of Decision Science, Funding Circle
- Abba Newbery, Chief Marketing Officer, Habito.

The importance of social proof in FinTech

Trustpilot - building trust in financial services

Trustpilot - Building trust in financial services

Companies with familiar names used to be able to rely on consumers to trust them but they now face a wave of disruption. They must work harder than ever to earn that trust.

The global financial crisis of 2008 placed a huge dent in the public’s trust of financial services providers. The brands that had lectured consumers on fiscal prudence were suddenly exposed and, in some cases, needed taxpayer bailouts.

Over that same timeframe digital technology has empowered a fintech revolution, with new brands providing innovative online and mobile services built around delighting customers rather than plodding along with legacy technology and organisational silos. Established brands have had to raise their game to keep up.

The resulting increase in choice begs the question: how do consumers know whom to trust? London Research, working in association with Trustpilot, has
produced this report based on a survey of 1,000 consumers in five different markets: the UK, the US, France, the Netherlands and Italy.

The research has found that advertising is not particularly trusted by consumers for choosing financial services providers when used in isolation. Instead, trust is primarily established through two main sources of information, the brand’s website and customer ratings. 

## 1. Whom to trust. Bankers, ad execs or consumers?

According to a London Research survey of 1,000 consumers, carried out exclusively for Trustpilot across five different countries, the deterioration in trust in financial services is still evident, even a decade on from the financial crisis. Consumers are 50% more likely to say that their level of trust in financial services providers has decreased rather than increased over the last three years (30% versus 20%, see Figure 4, appendix).

In the age of the fintech revolution, the question on all financial service providers’ lips is how can they build or repair a trusting relationship with consumers, and through which means?

Brands who look at this conundrum have two major challenges if they decide to advertise their way into the consumer’s heart. Trust in bankers, and by implication, financial services more broadly, is low and ad executives behind campaigns are the least trusted of all professions.

That is according to the [2018 Ipsos MORI Veracity Index](https://www.ipsos.com/ipsos-mori/en-uk/advertising-execs-rank-below-politicians-britains-least-trusted-profession) which further warns that if brands were to switch tactics and get a PR to convince newspapers
to write good things about them, they hit another snag. Journalists are only trusted by one in four people.

Clearly, the answer to convincing the public a financial services brand is trustworthy is to rely on the ‘ordinary man or woman in the street’ who is trusted by 62% of the population, according to Ipsos.

This realisation shifts the onus for brands from paying for awareness to engendering positive ratings among consumers through providing best-in-class customer experiences. Devise an exciting proposition, execute it brilliantly to delight customers and they will tell peers what a great service they enjoy — both through word of mouth and its digital equivalent, ratings and reviews. 

## 2. Customer journey focus underpins trust

Trust in financial services is largely maintained through the work of industry regulators, including the Financial Conduct Authority (FCA) and Financial Services Compensation Scheme (FSCS) in the UK.

However, while this may help to engender faith in the industry as a whole, trust in individual companies is best established through understanding and
influencing the user journey, suggests financial services marketing expert Sanjit Badhan, formerly Head of CRM at money transfer company TransferGo.

“Historically, choice has been very limited in financial services,” he says. “That means trust is interwoven with customers’ learnt behaviour. There’s now more choice, but how do you get over that inertia and convince people it’s worth looking around and committing to one of these new exciting providers?

“For me, the key is a better user journey. Too many new brands are just intent on acquiring new customers, and they don’t devote as much time and effort to providing an excellent journey and customer experience that builds trust.”

Badhan believes that financial service providers need to be clear about their proposition in terms of whether they are price-led or experience-led. Either is fine, and will build trust, but consumers need to know which side of the price or service fence a brand sits on.

“You can be the brand that can’t be beaten on rates or you can be the brand that empowers customers to get on with their lives through the best service available,” he says.

“Brands have to be able to show which they are. Too many brands are trying to be both but it’s too expensive to offer the best service, a smart app in
every language available with telephone support, as well as not being beaten on price. Brands need to choose a side. Consumers understand, and they will pick which is more important to them and build trust around how well the company delivers its brand promise.”

## 3. Where do people find trust?

Financial services decisions used to be very simple. Most people would visit a local high street bank or call a highly familiar provider that had been in
business for generations and was likely to have been patronised by friends and family.

This centuries-old model has now been replaced by digital disruption through the fintech revolution.

However, our survey shows that the most important source of information in this new landscape is still what a company says about itself and, just like in the days of word of mouth, what other people say about
the provider and its service.

As can be seen in Figure 1, the top influencer for consumers is the company’s website (rated as ‘very important’ or ‘important’ by 68% of consumers), followed by consumer ratings and reviews (61%). In fact, ratings and reviews are more trusted by consumers making decisions relating to financial services and products than aggregators and search engines.

It is understandable that many brands surrounded by so many new names are trying to raise awareness, but our findings show that consumers are around three times as likely to regard the company’s own website and consumer ratings as ‘very important’ than for TV advertising, online display ads and social media.

Conversely, people are three times more likely to ascribe zero influence to TV and online advertising over their financial product decisions, compared to ratings. The same applies to social media, only five times over.

## 4. Data-driven services delight customers

The question around trust, then, is less about what brands say about themselves in traditional and digital advertising channels. Instead, it is more a case of what they can convey on their websites and apps, and how they back that up with high levels of service.

For Duncan Leslie, Head of Product Experience at investment platform Hargreaves Lansdown, this means the key to getting customers to trust a financial services brand is customer experience. This requires helpful customer services experts, available online and on the phone, but that is just the start.

In his experience, a brand needs to build a service around focusing every use of technology on customer needs. The benchmark is being set increasingly higher by companies in all sectors beyond banking, he warns.

“Expectations aren’t just set by financial services providers, they’re set by the likes of Amazon, that’s how simple and convenient you have to be to use,” he says.

“We use a lot of data from our customer interactions to understand what customers want and how we can give them the best experience possible. One
key learning from this approach was realising our first mobile app was a little ‘flat’. It offered a bit of everything, even though the data showed most people just want the quickest way to get logged on and check their balances.”

The result was a reworked, simpler app that allowed people to check in and out conveniently but can still offer further information for those wanting to explore further. It is here that the brand’s customer experience strategy is focused around intuitively knowing what the client is most likely to be interested in.

“We’re constantly updating our app and online service by using machine learning to understand what type of customer is logging on, and what they might be most interested in,” says Leslie.

“That way, we can personalise offers of additional products around their likely understanding and comfort with financial products. A seasoned investor may be shown a product that requires more understanding and confidence than someone who is less au fait with financial products.”

## 5. Relevance is key to personalised customer experiences and trust

Almost two-thirds of consumers (63%) agree that financial services providers personalise the online experience with relevant information and recommendations based on their needs (Figure 6, appendix).

Building products and services around the customers they serve is the new mantra all financial services operators must adhere to in order to be successful, according to Firas Khnaisser, Head of Decisioning at Standard Life.

He lives by the simple rule that “the customer has to be at the heart of everything we do”.

“Although we’re an established name we try to think like a start-up when we’re looking at delivering new products and services", he says. "It helps us to not get tangled up in organisational silos, processes and technology, and to really put ourselves in the customers’ shoes.

“We have invested significantly in our data, analytics and customer engagement capabilities. This allows us to develop a deeper understanding of our customers which allows us to better deliver against their needs. 

"We first used this capability in the marketing space but now we see it being used across the whole organisation, from customer service and operations, to sales and distribution, to fraud prevention. This goes to show that for good customer experience to happen the entire company needs to be pulling in that same direction.”

He says the data and technology available to the business allows them to have more relevant, timely and personalised interactions with their customers across multiple touchpoints.

“Organisations that are able to leverage the data and the technology available to them are able to deliver a far superior experience to their customers which will, in turn, deliver better business outcomes,” he adds.

Khnaisser agrees that online reviews give increased transparency into the type of service customers could expect to receive from a brand. The more
transparent brands are, the easier it becomes for customers to trust the brand. 

## 6. Consumers base decisions on ratings

Our research shows that three-quarters (75%) of respondents agree that positive consumer ratings would make them more likely to become a customer of a bank, compared to only 9% who disagree (Figure 2).

The importance of consumer reviews hasn't escaped the attention of challenger banks, including Atom Bank which displays its Trustpilot rating on its home page with the number of 'excellent' ratings constantly updated.

Atom Bank's Head of Marketing, Neil Costello, says: 

"We think smart brands should always let people coming to their site know how other people rate them.”

“We don’t really advertise but I always think brands like Purplebricks, that also include their ratings scores in their advertising, are really smart. There’s no better way of transparently showing the public what other consumers think of you than proudly displaying those stars. It shows you’ve got nothing to hide, that you can be trusted.”

Costello believes that many of the most familiar names in financial services, who were the only choices before digital disruption came along, are hamstrung by concerns the reviews may not be too favourable.

“The big brands are probably just waking up to the power of reviews, now that they tend to be used a lot more by challengers and disruptors to show the public how trustworthy they are,” he says.

“The trouble is, they may well have far too many bad reviews in the past that are holding back their averages and they may be worried by more coming in which they are not set up to deal with.”

Ratings are not just critical for choice of bank but across every service a financial services company provides. Mortgages are slightly ahead as the
product where most consumers seek confirmation from ratings (Figure 3). However, it is worth noting that more than half of consumers regard ratings as at least ‘important’ for choosing a wide range of products, including loans, credit card, pensions, life insurance and an investment platform. 

## 7. Ratings improve customer service

The cornerstone of a great customer experience is good customer service. This is where money transfer business Azimo believes it gets some of the best value from embracing reviews.

Its Head of Digital Marketing, Laura Bent, points out that in addition to reviews showing a brand is willing to have a transparent, open and honest relationship with its customers, there is also a lot to learn from what customers are saying.

The brand carries out regular Net Promoter Score studies to understand what consumers are thinking about its products and services, but these are, by definition, internal reviews. By displaying ratings on its home page, she believes Azimo is able to join in a conversation with consumers and show that it is willing to deal with any issues that arise. 

“Reviews and ratings are a great tool for both listening to our customers and then acting on those insights,” she says.

“We show ratings in real time and so if a customer has a concern we can deal with it there and then. That’s very useful for showing that we’re not just
there to show five-star ratings, but we’re also actively looking to address problems and put them right. It’s the best way to be open and honest but also helpful.”

Azimo displays customer reviews prominently on its website. 

Azimo example

## 8. Conclusion– Unlocking digital word of mouth

Success for financial services providers is no longer guaranteed by being a familiar name. Across every financial services niche, consumers are being offered a plethora of products and services by disruptors focusing on a better customer experience and personalisation of services.

And yet the old-fashioned way in which people have traditionally selected financial brands they trust is still alive and well. The big change is that word of mouth is now accompanied by its digital equivalent, ratings and reviews.

These are far more influential in consumer decisions than traditional and digital advertising channels and are second only in building trust to a brand’s own website.

A home page with ratings prominently displayed, then, combines the two most effective ways of showing consumers that people trust a brand. If a company is open and transparent in its relationship with the public, it will happily point to what people are saying about it in real time.

Atom Bank displays its five-star Trustpilot rating above the fold on its home page. 

Atom Bank Example

*__Please note that this report was written in April 2019 and optimised in December 2020.__*

Figure 5

Figure 6

Figure 7

Figure 8

## Methodology & Acknowledgements 

London Research was commissioned by Trustpilot to carry out a survey of 1,000 nationally representative consumers in January 2019. The sample comprised 200 respondents in five different countries: the UK, the US, France, the Netherlands and Italy. The survey was conducted using a Toluna research panel. London Research also carried out interviews for this report.

London Research and Trustpilot would like to thank the following people for their insights.

__Sanjit Badhan__, consultant and former Head of CRM, TransferGo

__Laura Bent__, Head of Digital Marketing, Azimo

__Neil Costello__, Head of Marketing, Atom Bank

__Firas Khnaisser__, Head of Decisioning, Standard Life

__Duncan Leslie__, Head of Product Experience, Hargreaves Lansdown

Building trust in financial services

Truspilot 5 trends that will define the future of fashion

Trustpilot 5 trends that will define the future of fashion

A survey from London Research and Trustpilot has shown that fashion shoppers are more cautious on spending this year, and are also acutely aware of the need to buy items from fashion brands with strong ethical and sustainability practices.

[London Research](https://www.londonresearch.com/) and Trustpilot's latest international survey has shown that not only are fashion shoppers more cautious on spending this year, they are also acutely aware of the need to buy items from fashion brands and retailers with strong ethical and sustainability practices.

Fashion brands and retailers now have an opportunity to reach out to consumers who are actively seeking to shop from companies that are kind to the people working in their supply chains, as well as the environment.

Those seeking to market themselves to modern shoppers need to listen to what consumers have revealed they are looking for in sustainable and ethical brands, as outlined in this research.

### Five key trends that will define the future of fashion brands

__1. Four in five customers are led by ethics__

Size and fit are not the only priorities. Fashion brands and retailers need to be aware that treatment of workers across their entire supply chain and environmental footprint are now a vital part of a customer’s purchasing decisions. 

More than four in five customers (82%) reveal they would definitely (31%) or probably (51%) stop buying from a brand found to be lacking ethical standards. 

__2. Shoppers are cautious on spending__

The recession looming over the global pandemic is shaping fashion spending habits. Just under three-quarters of consumers (72%) are spending less or the same as they did before.

As befitting markets where many are working from home, casual clothing and leisurewear is the category with the highest proportion of consumers having increased spend (21%). This figure is nearly double that seen in formal wear or luxury items.

__3. Fashion shoppers trust reviews and each other__

Consumers are eager to seek out fashion brands and retailers with solid ethical and sustainability strategies.

They are getting advice on which brands meet these criteria from many sources, but they trust each other above all else – 89% of consumers have a high or medium trust level in word of mouth and 85% in ratings and reviews.

The levels of high trust placed in word of mouth and reviews are two to three times greater than other sources, such as magazines, advertising and brand websites. The least trusted source is celebrity influencers. People are three times as likely to highly trust ratings as they are a well-known figure touting a fashion product on social media.

__4. Fashion shoppers are acting on a brand’s ethical record __

The research found brands must not think of ethics as an issue to be addressed in the future. Shoppers are already acting on their concerns right now. More than half (54%) of consumers say that coverage of working conditions and sustainability policies has influenced where they buy, or don’t buy, fashion items.

Nearly as many (41%) have been steered by coverage of a fashion retailer’s diversity and inclusivity policy and 33% by a brand pretending to be ethical but not backing it up with real action (‘slacktivism’).

Given that consumers trust word of mouth and customer ratings three times or two times (respectively) as much as the media, savvy brands should realize the need to communicate how their ethical and environmental strategies match the modern shopper’s concerns. This way, those credentials are more likely to be reflected in customer conversations and ratings.  

__5. Brands can tap into consumers’ ethics and sustainability wishlist__

Customers have revealed what they want to see from fashion brands and retailers. Joint top spot (46% each) goes to a commitment to good working practices throughout the supply chain as well as to environmentally-friendly packaging. A recycling service (41%) was just behind in third place.

Feeling inspired? Let's dive in!

## Introduction – cautious consumers tell brands their values are more important than discounts

Consumers are changing their mindset and behavior when it comes to buying clothes, and the effects are set to be profound for fashion brands and retailers.

The national and local lockdowns caused by the coronavirus pandemic have accelerated a change in attitude among shoppers to be more caring for one another and the environment. Communities have come together to fight a common foe and taken stock of the values they find important to them, which they want to see reflected in the brands they buy from.

This prompted London Research, in association with Trustpilot, to ask fashion consumers in the UK, the US, France, the Netherlands, Italy and Sweden to reveal the importance of brand values around issues such as sustainability, working conditions and diversity. What principles do they expect fashion brands and retailers to live up to? 

Just as importantly, how do they know they are truly committed to these causes, and whom do they trust in making those judgement calls?

### Sustainability over discounts

[Research from McKinsey](https://www.mckinsey.com/industries/retail/our-insights/survey-consumer-sentiment-on-sustainability-in-fashion) has already shown lockdown has forced fashion consumers’ priorities to change. They now place the welfare of employees and supply-chain workers, as well as protecting the environment, way ahead of being offered promotions and discounts.

This points to a significant change in consumer priorities, according to fashion writer Olivia Pinnock. She has created a series of events, called [The Fashion Debates](http://www.thefashiondebates.com/), through which the industry can come together to discuss how to clean up an industry with a poor record on worker conditions and sustainability.

“We had the sweatshop scandals of the ‘80s and ‘90s but the issue seemed to have been swept under the carpet,” she says.

“Now, though, we’ve got a generation who realize they can’t ethically buy a T-shirt for £5 when there are so many people in the supply chain to pay. There are also a lot of executives who are pushing for real change because they have been shocked by the industry’s record and don’t want to be a part of it any more.”

Pinnock believes the push for change is real and is relying on changing attitudes among shoppers. However, there are two major challenges.
“Fast fashion’s cutting corners on worker rights and the environment has got us all used to cheap clothing,” she explains.

“It’s skewed our perception of cost. Then there’s availability. The vast majority of clothes, outside a pandemic, are bought in stores and it’s only the big chains, who are highly competitive on price, that can afford to roll out chains of shops in every town.”

### Consumers are cautious on spend

It is not surprising that in the midst of the global coronavirus pandemic, the majority of respondents are not spending more on fashion. Instead, they are maintaining previous spending patterns or cutting back. 

On average, 28% of respondents say they are spending more. That leaves exactly a quarter who are spending the same amount as before (25%) and nearly half (47%) who reveal they are cutting back (Figure 1).


Figure 1: How has the coronavirus pandemic impacted your overall monthly spending on fashion and clothing products?

As shown in Figure 2, the standout category for increased spending is casual and leisure clothing (21% of consumers), nearly double the percentage of respondents spending more on luxury apparel (11%) and significantly more than the proportion of consumers increasing their outlay on smart clothes (13%).

Across all international markets surveyed, those going through lockdown and social distancing measures have clearly been prioritizing comfortable attire for home use over spending on formal clothes for the office or expensive luxury items for big nights out.


Figure 2: How has the Covid-19 crisis impacted the amount you’ve spent on the following types of fashion and clothing products?

- Consumers in the US are more likely than those in other countries surveyed to be increasing their spending on casual clothes (28%), footwear (20%), smart fashion (20%) and luxury products (15%) (Figure 9, see appendix).
- The UK, on track to have its worst economic downturn on record, leads the way for the most cautious shoppers. Just over a fifth (22%) reveal they’ve been cutting fashion spending by more than half (Table 1, see appendix).

### More careful? Or more thoughtful?

Consumers are clearly cautious when it comes to fashion spending. It will become clearer when the developing global recession caused by the global pandemic eases whether this is an economic decision or an environmental choice.

Dialing down consumption is what Olivia Pinnock refers to as ‘the elephant in the room’. In addition to looking out for fair trade labels and commitment to ethical and environmental standards, she believes modern consumers will soon realize they need to buy fewer clothes.

It is a message echoed by Laurel Wolfe, VP of Marketing at deferred payment platform [Klarna](https://www.klarna.com/).

“The pandemic has made us all think carefully about how, where and why we shop - whether that's online instead of in-store, or with smaller, local brands.” she says.

“For us, this has meant helping people be mindful consumers, to ensure they buy items they will truly use and love. We have been running campaigns, particularly with thought influencers, echoing the money management advice on our site and asking shoppers to ‘think thrice’. Do I love it, will I use it, is it worth it?” 

The message underlines how the market is evolving to row back from the days of fast fashion by being more considerate in how workers in the supply chain are treated and mitigating the industry’s impact on the environment.

## People trust ratings and each other, not celebrities and magazines

People are clearly cautious about their spending, given the massive uncertainty hanging over the global economy. With budgets curtailed, consumers are looking to make sure the items they buy are right for them. This no longer means right look, size and price.

As shown through our survey, customers are attracted to brands that share their ethical values and are kind to their workers and the planet.
With ethics, sustainability and environmentalism playing a large part in purchasing decisions, who are people trusting for guidance on purchasing decisions?

Here, the research provides a resounding answer. Consumers trust one another. Word of mouth from friends and family is the most trusted source, with 44% rating their trust level as ‘high’. Consumer ratings and reviews (36%) is a close second (Figure 3).


Figure 3: How would you describe your level of trust in the following sources of information when you are researching fashion products and retailers?

In all, 89% of consumers have a high or medium level of trust for word of mouth compared to 85% for ratings and reviews.

The two categories are two or three times as highly trusted as other high-profile sources of fashion information, such as magazines, advertising and social media.

Fashion is an industry filled with well-known designers, models and celebrities who are reported on daily for what they are wearing. However, a key takeaway from the research is that celebrity influencers are poorly trusted as a source of information by nearly two in three consumers (63%).

The research could not be any clearer. Consumers want to make the right decision on fashion, for fit, price and look as well as sustainability and ethics. When it comes to making these decisions, they trust one another’s spoken advice or ratings much more highly than the world of social media and advertising where brands pay a fortune hoping to be noticed.


The Savile Row Company website, displaying the company's Trustpilot rating. This research shows that ratings and reviews, along with word of mouth, are the most trusted sources of information.

The Savile Row
Company website,
displaying the
company's Trustpilot
rating. This research
shows that ratings
and reviews,
along with word of
mouth, are the most
trusted sources of
information.

- The US and Italy stand out as the markets where reviews are most highly trusted (43% of consumers) (Figure 10, see appendix).
- Sweden and the Netherlands show the highest trust for word of mouth, for nearly half (49% and 48%, respectively) of consumers (Figure 10, see appendix).

## Customer loyalty depends on ethics

Everyone needs clothes and it is fair to say that the driving force in purchasing decisions will depend on garments matching an individual’s sense of style and budget. Increasingly, however, image and price point are being joined by a new criterion. Customers want to know a business shares their values.

More of us want to know a business is run ethically and that it tries its best to ensure people in its supply chain are treated with respect and paid properly, while attention is paid to sustainability.

One of the major takeaways from this research is that more than four in five customers (82%) would either ‘definitely’ (31%) or ‘probably’ (51%) stop buying from a brand that was found to lack ethical standards (Figure 4).

Figure 4: Would you stop buying from a brand or fashion retailer you knew to be lacking ethical standards?

The finding should serve as a warning to brands who have yet to put ethics at the heart of their brand strategy. While nearly a third would definitely withdraw their business if non-ethical practices were discovered within the business or wider supply chain, half of the market would consider it.

This is not only a hypothetical question. For any fashion brand wondering when the market will evolve to a point where bad press around their ethics will lose them customers, the answer is we are already there.

More than half of consumers (54%) say that coverage of working conditions and sustainability policies has influenced which brands they buy or don’t buy fashion items from (Figure 5). Nearly as many have been steered by a fashion retailer’s diversity and inclusivity policy (41%) and 33% by a brand pretending to be ethical but not backing it up with real action (‘slacktivism’).


Figure 5: Has positive or negative coverage relating to any of the following issues impacted where you buy (or don’t buy) fashion and clothing items from?

Sophie Slater, who co-founded online women’s ethical fashion business [Birdsong](https://birdsong.london/), is not surprised by the findings. The company’s workers in London are paid the London Living Wage to produce garments made from organic cotton which are packed by a charity supporting adults with learning difficulties. Protecting staff from Covid meant closing down production, which has relied on customers accepting delays in deliveries because ethical fashion is not fast fashion.

“We’ve seen fashion businesses talk about sustainability for the past few years but the last year or so has definitely seen a rise in people thinking about ethics,” she says.

“People have seen how workers are treated in sweatshops in Leicester (in the UK) by well-known brands… there’s been a lot of bad press for fast fashion. We rely on good press and social media to get our message out to people who are motivated by social inclusion and treating people ethically and so will pay a little more for clothes made by people paid the London Living Wage.”

- Italy is the clear leader in customers making decisions based on media coverage (Figure 11, see appendix). More than three in four have been influenced by stories about a brand’s ethics (79%) and working conditions (77%). Perhaps this is a result of the country being the EU’s biggest producer of clothing so environmental impact and working conditions are factors that are far closer to home for Italian shoppers.

## Trust – winning over the ‘moderately trustful’ half by being kind to workers and nature

The good news for the industry at large is that more than a quarter of consumers (28%) have a ‘very’ (9%) or ‘quite’ (19%) high level of trust in fashion brands and retailers in terms of their ethical standards (Figure 6).

The bad news is this is negated by a quarter of the market (26%) which has a ‘very’ (7%) or ‘quite’ (19%) low level of trust. This leaves almost half of consumers (46%) sitting on the fence, with only a moderate level of trust in the industry.

Figure 6: How would you describe your level of trust in fashion brands and retailers in terms of their ethical standards?

With a quarter of the market trusting the industry and a quarter not trusting it, the battleground is clearly winning the hearts and minds of the remainder who are fairly neutral.

Given that four in five respondents have also revealed they are ready to dismiss a brand which treats workers or the environment disrespectfully, the focus should be on convincing customers with a moderate level of trust that a brand is truly committed to treating its workers and the planet with respect.

There are some novel ways of improving trust being deployed at eco-friendly fashion brand [SANVT](https://sanvt.com/) (which means gentle on nature in German). The company’s Head of Marketing and Co-Founder, Benjamin Heyd, reveals the company is dedicated to working with suppliers who use organic cotton and do not use toxic chemicals in the dyeing process. To underline the point, they have an unusual approach to transparency and promotions.

“We keep our environmental impact low and our ethical standards high by using a factory in the EU, in Portugal,” he says.

“We offer a virtual tour of the factory so people can see for themselves the high standards we adhere to. We also don’t run sales promotions, we just offer to plant more trees within our carbon offsetting program when people buy promoted items. I don’t think we’re quite at the point yet where sustainability is the most crucial part of a customer choosing a brand, compared to the design and fit of clothing. However, in the long term, we are definitely getting there and brands will soon need to be able to show consumers they are eco-friendly and ethical.”

- Sweden and the Netherlands stand out as the markets with the lowest opinion of fashion brands and retailers. In each market, only 4% trust them highly. France is close behind with a high level of trust reaching just 5%.
- The US has the biggest level of ‘very high’ trust in fashion brands and retailers at 14%, backed up by a 20% level of ‘quite high’ trust.
- Overall, Italy is the most trusting nation, with more than a third (39%) of consumers having ‘very’ (8%) or ‘quite’ (31%) high trust levels.

## Customers need ethical and sustainable fashion brands

It is clear today’s fashion customer is starting to look for more than items that suit their style. In particular, they are committed to avoiding brands found to be acting in a non-ethical and unsustainable way. They are also expecting brands to embrace diversity and inclusivity.

So, what does this mean in practice? What are the strategies, commitments and services modern customers are looking to see more of in the future from fashion brands and retailers? When allowed to suggest three proof points that companies are walking the proverbial walk, what do they pick out?

Joint top, for nearly half of respondents, was commitment to good working conditions throughout the supply chain (46%), along with environmentally-friendly packaging (also 46%). A recycling service (41%) comes in third place, with clothes made from recycled materials (38%) and initiatives aimed at reducing the carbon footprint (36%) completing the top-five wishlist (Figure 7).

Methodology note: Respondents could select up to three options.

Figure 7: What three things would you like to see more of in the future from fashion brands and retailers?

For menswear brand [The Savile Row Company](https://savilerowco.com/), it is not a major surprise that environmentally-friendly packaging tops the list, alongside ethics. 

Marketing Director Lee-Anne Harris reveals the business has replaced plastic with biodegradable and potato starch bags, with shirt collars and shoulders held in place by paper fasteners rather than the traditional plastic clips.

“The data we’re getting from our Trustpilot reviews shows customers are reacting well to orders arriving in recyclable paper packaging and a biodegradable bag,” she says.

“We didn’t ask customers first; it was just a no-brainer for us because it’s how we want to live and we were pretty sure it’s how our customers want to live as well. It’s more a question of why wouldn’t you? It’s just a base level of decency.”


The Savile Row Company has replaced plastic packaging (left) with a recyclable paper bag (right).

Despite the uptick in positive reviews, Harris confirms recyclable packaging is still a feature that customers appreciate rather than demand as standard. However, she believes it is only a matter of time before customers “truly hold fashion companies to account for their record on plastic waste”. Hence it makes sense to be prepared in advance.

- American customers are way ahead of their European counterparts on the values they want to see from fashion brands and retailers which did not make the top-five list above (Figure 12, see appendix). These include working with charities (35%), offering inclusive product ranges (27%), ensuring diversity in advertising (26%) and taking a stance on social issues (24%).
- It is likely a result of the deep social issues Americans are examining in the year the Black Lives Matter (BLM) movement gained massive national, and global, traction. Support for brands taking a stance on social issues, including BLM, is more than twice as high in the US as it is in all other countries surveyed, other than Italy.

## How brands can embrace ethics and sustainability

They know their size, they know their style and they have a good idea of what they are starting to want to see from fashion brands and retailers. But what indicators are customers looking for to find out if a brand shares their values on treating people and the environment with dignity and care?

The challenge for companies is there is no single standout attribute consumers are seeking out. Instead, there are four key drivers of trust which are being actively sought out by a little over half (58% and 59%) of fashion shoppers (Figure 8).

Respondents reveal transparent values and policies, fair trade badges and certification, on-site and off-site ratings and reviews are equally as important, on average.


Figure 8: Do you look for any of the following to give you confidence that you are buying from an ethically responsible fashion brand or retailer?

These are areas high on the radar for luxury online fashion retailer [FARFETCH](https://www.farfetch.com/). Its Director of Sustainable Business, Thomas Berry, explains the fashion brand not only helps customers make more ethical and sustainable purchases, it also has reselling schemes to extend an item’s life.

“As part of Positively FARFETCH, we have an extensive Conscious collection which customers can shop, using either filters, or our dedicated edits, to ensure they’re getting items that meet good independent sustainability standards and certifications,” he says.

“We also have two service offerings that help our customers extend the life of unused clothes. FARFETCH Second Life is a resale service, where customers submit their old hand-bags, get a price quote, we arrange a pick-up slot and, once the item is verified, the quoted price is added as a credit to their FARFETCH account.

“We do the same with our FARFETCH Donate service, where a customer fills a bag with any fashion item they no longer want, the items are sold in aid of their chosen charity, and customers get a third of the proceeds as FARFETCH credit. In both cases someone else gets to enjoy the items so everyone’s doing their bit to help the environment by reducing overall consumption of 'new' items."

The proof that customers are now looking to make more sustainable and ethical purchasing decisions comes from Berry revealing that the Conscious range is growing at a significantly faster rate than all other sales through the site. Additionally, across the industry, he estimates new clothes sales are predicted to grow at most around 3% whereas clothing resale growth is in the 15%-30% range.

## Conclusion

The primary motivators in fashion will likely always be the look, feel, design and price of an item. However, there is a growing consideration to filter fashion brands and retailers according to their action on sustainability and ethics.

This was always bubbling under the surface but it would appear the global pandemic has prompted consumers to take stock of what is important and to value brands who treat their workers and the environment with care and respect.

Research coordinated by Cardiff University found, for example, that the proportion of Britons who believe tackling climate change is urgent rose from 62% to 74% between August 2019 and August 2020. Additionally, nearly half the UK population (47%) is now vowing to fly less than before once restrictions are lifted. In the US, media reports have suggested taking a step back from the daily grind of driving to work has seen air pollution drop by 30%.

These issues should resonate with fashion brands and retailers, given that four in five consumers reveal they would not shop with a brand that lacked ethical and sustainable values. Hence, half of consumers have already revealed they have avoided fashion companies that have received poor media coverage over their ethics and sustainability record.

__Consumers have spoken clearly. They want brands to:__

- Treat workers throughout their entire supply chain fairly
- Produce clothes without damaging the environment
- Use recyclable packaging
- Embrace recycling schemes which extend garments’ lives
- Work hard on carbon reduction measures
- Operate according to transparent brand values

These are the action points fashion brands and retailers need to embrace to win over the half of the market that currently only trusts the industry to a moderate degree and the quarter which does not trust them at all.

When it comes to trust, they need to remember fashion shoppers highly trust one another’s advice and online reviews two to three times as much as glossy magazine articles, social media and advertising. As for celebrity influencers, these are the least trusted source available to fashion marketers.

The message is clear. Consumers want to see sustainable and ethical fashion, and they place their trust on which brands match these values in word of mouth and reviews, not the media and most definitely not on what celebrity influencers are paid to say.

If you'd like to find out more about Trustpilot, and how social proof can help you build trust with consumers, request a free demo below.


### Methodology

London Research was commissioned by Trustpilot to carry out surveys of 2,800 nationally representative consumers across the UK (n=1,000), US (n=1,000), France (n=200), the Netherlands (n=200), Italy (n=200) and Sweden (n=200) in September 2020.

The research was conducted using a Toluna research panel. London Research also carried out a series of interviews for this report.

### Acknowledgements

London Research and Trustpilot would like to thank the following people for their help in compiling this report:

- Thomas Berry, Global Director of Sustainable Business, FARFETCH
- Lee-Anne Harris, Marketing Director, The Savile Row Company
- Benjamin Heyd, Head of Marketing and Co-Founder, SANVT
- Olivia Pinnock, Fashion Writer and Creator of The Fashion Debates
- Sophie Slater, Co-Founder, Birdsong
- Laurel Wolfe, VP Marketing, Klarna

Why ethical fashion brands are future-proof

Health-and-Beauty-Hero - smaller

Combating misinformation in the health and beauty sector

Buying the right health and beauty products can be a minefield at the best of times, with consumers wasting millions each day on health and beauty products that are counterfeit, substandard and in many cases bought on the basis of fake reviews. 

## The cost of fake reviews and counterfeits

The harsh reality is that the products may well be counterfeit. This means customers have not only wasted hard-earned money on a fake product, they could also be risking their health.

If you need to get a hook on why people should be concerned about fake health and beauty products, a good place to start is the Netflix documentary ‘[Broken: Make-Up Mayhem](https://www.netflix.com/title/81002391)’.

In the show, police investigators and doctors list the heavy metals and carcinogens they have found counterfeiters use to create cheap copies of expensive ingredients. At one level, these cause skin diseases, such as dermatitis, impetigo and pustules. At the other extreme, heavy metals can cause fertility issues and lead to miscarriages. One interviewee revealed how a counterfeit Kylie lipstick got its shiny appearance from superglue which stuck her lips together.

### COVID-19 exacerbates the problem

Covid-19 is raising the stakes, considerably. Legitimate businesses and industry experts know that regardless of what is happening to the economy, consumers still want to feel good about themselves. When official outlets they trust run out of stock, as global supply chains come unstuck, even savvy consumers can be tempted to check out online stores they may not totally trust.

Wellness and beauty industry influencer and ITV This Morning guest presenter, Gina Akers, has warned of the dangers of counterfeit products on BBC’s ‘Fake Britain’ television show. She believes many consumers, especially young people, want to look like their favorite celebrity, but cannot afford the high-end prices required. When you add reputable stores running out of stock, you have a counterfeiter’s dream scenario.

*“The big issue is the celebrity influencers have their own lines of cosmetics which are high end and are prone to running out of stock, particularly with the supply problems around coronavirus,”* she says.

*“Young people wanting to look like these celebrities are sorely tempted to get something cheaper from somewhere online that claims to have stock. But they’re often fake and, even worse, they have been made in unsanitary conditions. My advice is that if it’s too good to be true, it probably is. Always buy from a reputable store.”
*

### Market overview: spending is up, so is waste

The [coronavirus pandemic](https://business.trustpilot.com/reviews/learn-from-customers/consumer-behavior-in-the-age-of-coronavirus-global-review-trends-by-industry) has prompted a significant leap in spending in the health and beauty markets. According to our research, 59% of US consumers and 55% of UK consumers say they are spending more on health products due to the coronavirus crisis.

Around a quarter of survey respondents in both markets (26% in the US and 25% in the UK) reveal they are spending more on beauty. As seen in Figure 1, almost half of those consumers spending more on beauty across both markets suggest the extra spending is rooted in wanting to treat themselves (45% in the US and 51% in the UK).



Why consumers have bought more health and beauty products as a result of lockdown and the coronavirus pandemic.

Figure 1: Why consumers have bought more health and beauty products as a result of lockdown and the coronavirus pandemic.

In unprecedented times, both American and British consumers (42% and 40%, respectively) are spending more because they fear that stocks could run out if they do not make a pre-emptive purchase and there is clearly a desire under lockdown to stay healthy and feel good about oneself through a treat purchase.

Consumers are also spending more because salons are closed (45% in the US and 35% in the UK).

In the health category, both markets are clearly showing the impact of the coronavirus pandemic and subsequent lockdowns. The most popular products so far this year have been hand sanitizer and soap, with pain relief, vitamin supplements, and prescription and over-the-counter medicines following closely behind (Figure 2).

Figure 2: Which health-related products have you bought since the start of this year?

A third of consumers in the UK and around two in five in the US had already bought plastic gloves and face masks when our survey was carried out in April. This is a new market for both countries which have no tradition of wearing face coverings in public, unlike some parts of Asia. This category will continue to grow as lockdown measures are relaxed, the use of face masks becomes increasingly recommended or enforced, and anxious members of the public return to busy public areas, particularly on public transport.

In beauty, hair and skin care are the most popular categories for spending so far this year in both the US and the UK, with bathing accessories, foot, hand and nail care, fragrances and makeup not far behind (Figure 3).

Which beauty products consumers have bought since the start of the year

Figure 3: Which beauty products have you bought since the start of the year?

The closure of retail outlets has led to an increase in online sales for health and beauty products

The closure of retail stores due to coronavirus has led to an increase in online sales, especially for health and beauty products

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