EWOM and Ecosystems: LJ 9

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 I found this week's readings very intriguing, going to very good details about social media ecosystems and EWOM (electronic word of mouth). I had no idea what EWOM meant at first but it is just a Word of mouth or a kind of review. A review can be considered an EWOM or comments you see under a TikTok of someone explaining a product. Personally, I always use EWOM when buying a product, or trying to find something to watch. EWOM is especially useful and can keep people from blindly watching or purchasing something and being extremely disappointed. EWOM is greatly beneficial to both consumers and companies as well. According to Luca in Reviews, Reputation, and Revenue: The Case of Yelp.com, “A one-star increase can lead to a 5-9 percent increase in revenue for restaurants”. EWOM helps customers determine what they should and shouldn't get, as well as helping businesses gain customers. A small increase in positive EWOM can increase sales of products or views. 

When it comes to EWOM, I feel like I use them a lot. When it comes to buying products of amazon, the first place I look at are the review stars and consumer reviews due to how accurate some can actually be. I find that EWOM helps from wasting my money. I also partake in EWOMS when I scroll through TikTok and see a TikTok of someone showing a product that can be useful or interesting. I can say that I am most influenced by my friends, if they suggest something, then I will be more willing to check it out seeing that we have similar interests and goals. EWOM allows anyone and everyone to be an advertiser, spreading things across the internet has become easier and easier as time goes on. It is simple to review a product and to show off a product that is for sale just by picking up your phone and shooting a quick minute or two video. 

 

Bibliography 

 

Reviews, Reputation, and Revenue: The Case of Yelp - Hbs.edu. https://www.hbs.edu/ris/Publication%2520Files/12-016_a7e4a5a2-03f9-490d-b093-8f951238dba2.pdf. 

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