Today’s marketplace is heavily influenced by the internet, which has changed the way consumers make decisions about their purchases: They won’t rely solely on marketer-generated information only (ads or salespeople). Instead, they look up reviews on sites such as Trip Advisor or Holiday Check, find more product information or check customer testimonials on e-commerce websites, look at other people’s recommendations, etc. In other words, they turn to eWOM.
eWOM is a powerful market force because consumers find it an unbiased and trustworthy source of product information. Over the past two decades, a lot of research has investigated the role of eWOM in the marketplace. In this article, we take stock of that knowledge and offer marketers a roadmap about how eWOM works so that they are better equipped to manage this marketplace phenomenon, and, eventually, boost product sales.