”Product reviews written by real people are perhaps the most underappreciated slice of the consumer-generated-media universe, the explosion of which has captivated the advertising and media worlds. But as marketers fixate on getting their virals on YouTube and making friends on MySpace, these relatively unsexy product write-ups have quietly become the most common form of consumer content -- Forrester [Research] puts it as the most-used form of peer-generated content -- not to mention the one with the most direct impact on purchase decisions."[SOURCE: Ad Age article, August 28, 2006]
Used to be for product reviews and ratings we would turn to Consumer Reports magazine. Nowadays, more of us are turning to reports from actual consumers to give us guidance on products to buy and products to avoid. Could it that Consumer Reports is on its way out and Consumers Report is on its way in?
For a nice sum-up of the Ad Age article with sharp analysis, read T. L. Pakii Pierce’s take.
“Consumers Report” is the new model; the challenge is finding ways to harness the collective wisdom of Internet users/consumers. I work for a company called Wize.com. We’ve developed an algorithm called Wize Rank to rate products based on compiled user and expert reviews and internet buzz. The results we’ve seen so far are compelling.
Posted by: lwfleetham | October 06, 2006 at 11:54 AM