The strategies of MySpace and YouTube are spreading as more and more online businesses are adopting comment pages, allowing customers to post feedback, good or bad, about the products and/or services they provide. And it’s working to their benefit.

Customers want to be heard; they want their opinions and experiences to matter, and having a forum to express those to the public often satisfies that desire. Customers also want to see what other people, someone other than the manufacturer or distributor, have to say about the product.

That’s exactly why, when we buy something defective, we run and tell anyone who will listen how horrible the experience was. Or, in contrast, when our experience with a company is great, we recommend them to everyone. It’s all about word-of-mouth, and there is much more appeal is getting the word out to the whole world in addition to those in our immediate circle.

And that’s where websites like Epinions.com come in. Epinions has been around for awhile, as a catch-all for consumers to review and rate products from toothbrushes to dog food to digital cameras, regardless of the manufacturer or retailer. This freedom of expression found its way through MySpace and YouTube, and the world noticed just how much everyone wants to be heard.

And business owners have noticed. At the end of 2006, 43% of e-commerce businesses offered a place on their site for ratings and reviews of products and services. This is up from 23% in 2005. Some sites even allow customers to post pictures or video of themselves using the product. The customers then send a link to friends, which causes more and more potential customers to click through the site.

According to BusinessWeek.com’s article Retailers Take a Tip from MySpace, “Customer feedback is opening the eyes of the industry, changing the way they market, manufacture and merchandise.” The negative feedback leads them to reexamine the products and services they provide, making sure the customer is satisfied, even if that means pulling the item from the shelves.

Negative feedback also decreases returns, as customers who read them are more likely to set aside their “imaginary expectations” for the product and realize its true function.

Positive feedback on a product results in better sales on that item and others, as customers begin to trust the retailer more. Some studies show that customers who check out the highest rated products on a business’ site are 49% more likely to buy something. The top rated items draw customers in… even if they weren’t planning to spend money.

If you’re interested in adding this new buzz to your site, but concerned that you don’t have the manpower to filter out the crazies, businesses like BazaarVoice and PowerReviews have come to the rescue. Their service focuses only on the feedback you receive and makes sure to keep out the ranting and cursing of consumers who are really displeased.

And the fact is you can’t please everyone, but it’s better to know where your product or service needs improvement, than to find yourself unaware of a problem at all. With a more internet savvy consumer comes demand for a more internet savvy business. Consider the possibilities of giving your customers a voice and the benefits that will have upon the success of your business.

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