dma 2010 defosse bazaarvoice - external
TRANSCRIPT
Secrets of Your Social Marketing Strategy
Erin Defosse, Director of Product Strategy
Bazaarvoice
Sources: eMarketer, February 2009; Forrester, March 2010; Silicon Alley Insider, 2010; Channel Advisor, August 2010.
1995 - 500 million digital consumers 2010 - 3 billion connected digital consumers
By 2014, 53% of total retail sales will be affected by the Web (online and Web-influenced), as consumers increasingly use the Internet to research products before purchasing
US Web Users spend more time on Facebook than any other site, including Google - 3 years ago it didn’t register in the top 10
83% of all holiday shoppers are influenced by customer reviews
The social explosion
Join the conversation
“These conversations are going to occur whether you like it or not. Do you want to be part of that or not? My argument is you absolutely do. You can be a better company by listening and being involved in that conversation.”
Michael Dell, BusinessWeek, Oct. 2007
Begin with the end in mind
Customer reviews drive results
Source: "Even if there is no alternative, reviews drive conversion," Bazaarvoice case study August 2007
Reviews = more satisfied customers
Source: Bazaarvoice case study
NO REVIEWS
WITH REVIEWS
25+ REVIEWS
20% LOWER RETURN RATES
45% LOWER RETURN RATES
Customer Q&A drives results
Source: Bazaarvoice case study, August 2008
CONVERSION RATE 72%
ORDERS/SESSION 100%
PAGE VIEWS 90%
Customer insights fuel credible marketing
Email Banner Ads
Catalog
Receipts
Box Stuffers Circulars In-Store Ad
Social Networks 50% higher click through rates on emails that feature customer review
content!
UGC improves business
OTC worked with manufacturer to improve product quality
OTC communicates in-line to update consumers about product improvements
71% would recommend it to a friend
Reviews drive operational decisions
Drive change across the organization with your customers help » Popular and pricey table was
commented as being “too soft” » The Land of Nod modified the
table and sent free replacements to reviewers
» Built stronger customer relationships and created a word-of-mouth event
Source: Bazaarvoice case study
Drive UGC beyond your site
Social Trends to Watch
UGC is going mobile
Reviews, Q&A, and Transactions
Social Merchandising
Summary
• The social web is exploding • UGC is a proven and measurable driver to
achieve business results • The social web, mobile, and social
merchandising are areas to watch • Start with the goal in mind and focus on
measurable programs that tie Social and Commerce together
