This best practice guide looks at the feedback economy, why it is important, and the challenges and opportunities it presents brands.

Never before have organisations been able to get so close to their customers. The feedback economy, which runs on star ratings, reviews, and user-generated content, offers an unprecedented opportunity to engage in a dialogue with their audience, often in real time.

However, it can be a double-edged sword, as brands are far more exposed, at the mercy of a damning review or comment.

The Ratings and Reviews Best Practice Guide explains how marketers can capitalise on ratings and reviews as part of the marketing mix, including how to unearth insights from customer feedback, diffuse any emerging crises and measure its effectiveness as a channel.

This report covers:

  • The extent to which ratings and reviews have become a crucial part of customer decision making
  • How to identify the most effective review sites for brand building
  • How to nurture transparency and authenticity by working with user-generated content
  • How to develop a reviews management strategy, and track its ROI
  • The future of the feedback economy, including the role of AI.

Econsultancy would like to thank the following interviewees who contributed to this report:

  • David Blackhurst, Central Operations Director, Mitchells & Butlers
  • Pranav Desai, Vice President, Product Management,
  • Jonny Evans, Digital User Experience and Commerce Manager, Vauxhall
  • Gabriele Famous, Chief Marketing and Brand Officer, Trustpilot
  • John Flanagan, Managing Director, Cartridge People
  • Sophie Light-Wilkinson, VP Marketing and Business Development EMEA, Bazaarvoice
  • James Loar, Head of Consumer, Yell
  • Ben Michaelis, Managing Director, ThinkEngine
  • Leigh Peacock-Goodwin, Head of Marketing and PR, Atom bank
  • Talia Shani, Director of Marketing, Yotpo UK
  • Adrian Valeriano, VP, EMEA, OpenTable
  • Matt West, Chief Executive Officer, Feefo