Op/Ed

Ratings companies have evolved into two camps that couldn’t be more opposite

five star wars ratings

(EDITORIAL) The ratings and reviews game has evolved considerably in recent years, and now, two clear camps have emerged… which do you think is better for consumers?

A line in the sand

Nearly every industry today is either participating in or being assessed by ratings and reviews. It’s what consumers want – it has become a consumer-centric fundamental.

Because time is scarce, consumers are increasingly seeking what they hope are reliable, trusted sources that collect and post both product and service experiences of real customers. The idea is that having access to the actual experience of others will lead to making better, more informed decisions and choices in selecting their next product or service provider.

In meeting this consumer interest, a pursuit of five star ratings has created a Star Wars battle line with two distinct camps:

  • Marketing Spin Camp – best foot forward, filtered results, selected feedback, and heavy bias of positive news
  • Transparent and Accurate Camp – reliable, measured, complete, unscrubbed and unmanipulated information from real past customers

So one camp chooses to Photoshop the picture while the other offers untouched results; one camp chooses pleasant fiction and the other chooses the reality of non-fiction; one camp elects to edit and cleanse, the other offers accountability and transparency with some blemishes; one camp seeks an immediate, short-term, gamed advantage to win customers while the other trusts that truth is the foundation of long term relationships; one camp doubts its ability to deliver great results and chooses marketing spin while the other camp believes consumers can be discerning and their service providers can deliver.

Facts sure can ruin a good story

In response to Brad Inman’s comment in an April 19th, 2016 interview, “…what I’d love to see here… (is) a higher-quality agent… better ones”, the former president of an organization promoting the Marketing Spin Camp stated, “Ratings are not the way to a higher-quality agent because ratings are a marketing tool… I don’t care what anybody says about that.”

The power of Marketing Spin is in telling a tale. Since the facts can ruin a good story, those in the Marketing Spin Camp often find it more convenient to avoid, ignore, omit, or not even bother to learn the facts. These facts have been researched and available for some time now, including in a 2008 report, before most in the Marketing Spin Camp entered the North American real estate market.

Transparency, accountability, and feedback both change and positively alter behavior in sports, business and politics. The evidence is clear, empirical, and unambiguous.

Ratings and reviews when properly designed, delivered, and data aggregated (scientific methodology with research expertise) do create the kind of accountability, transparency, and feedback that influence and alter professional behavior creating both measurably higher quality and a more satisfying customer service experience.

Spin a story, discredit the real estate industry

The facts – Here are the measurable results that are specific to the real estate industry and related to how service quality assessment of every closed transaction can influence agent behavior, the quality of service they provide and make them better (data based upon more than 2,000,000 customer satisfaction assessment surveys):

• 54% more Very Satisfied customers with the overall service experience than the national average
• 86% fewer Dissatisfied and Very Dissatisfied customers with the overall service experience than the national average
• 400% greater likelihood of agent making a post-closing service follow up call than the National Average
• 65% greater Satisfaction with quantity and quality of communication
• 72% greater Satisfaction with attention to transaction details
• 78% greater Satisfaction with negotiating assistance
• 54% increase in sales of returning past customers
• 56% increase in referral sales from satisfied past customers

Star Wars – the battle for five star ratings is bigger than the quest to win today’s customer. Honest and accurate ratings and reviews are about TRUST and long-term customer relationships.

Adopting practices of misleading information, selected feedback, and manipulated data are a “win the battle lose the war” strategy that also sacrifices the opportunity for ongoing improvement, real service excellence and true five star results.

Presenting manipulated, selective, or cleansed customer feedback as accurate and honest is also likely a violation of the Code of Ethics.Click To Tweet

You have the power to do the right thing

The 2015 independently commissioned D.A.N.G.E.R. Report identified agent service inconsistency and the invisible interactions between agents and consumers as the highest threat to the survival of the industry and the value of Realtor® services.

Believing that ratings are only about creating positive messages or merely a marketing tool that cannot influence professional behavior is factually incorrect and a sad surrender in the face of what can and is actually being done.

“Like them or not, reviews are now central to the consumer decision-making process. Go all in or stay out of the game. People will sniff BS a mile away if you try to peddle filtered or otherwise less-than-open reviews.” -Brian Boero, Founding Partner, 1000Watt Consulting

While we may frequently feel that events in business and life are beyond our control, each of us has the power to do the right thing, to do it well and to do it now!

#LegitReviews

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