inspire chicago - benchmarking and analytics
TRANSCRIPT
Conrad WredbergDirector of Product Management – Analytics
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“ “In god we trust; all others bring data
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Agenda
•Analytics & Reporting Overview
•Recent Resources
•Upcoming Resources
•Discovery Opportunities
• Industry Benchmarks
•Research
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Agenda
•Analytics & Reporting Overview
• Productized Analytics Offerings
• Social Analytics Offerings
•Recent Resources
•Upcoming Resources
•Discovery Opportunities
• Industry Benchmarks
•Research
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Four Pillars of Value
• Attract more visitors to my siteSEO
• Share customer opinions
• Informs Marketing MessagingWOM
• Online
• Offline - ROBOConversion
• Product Feedback
• Product InsightsQuality
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Agenda
•Analytics & Reporting Overview
•Recent Resources
• Conversion Impact Report
• Inbound Syndication Report
•Upcoming Resources
•Discovery Opportunities
• Industry Benchmarks
•Research
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Conversion Impact Report
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Inbound Syndication Reporting
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Agenda
•Analytics & Reporting Overview
•Recent Resources
•Upcoming Resources
• Outbound Syndication
• Enhanced Ratings & Reviews Reporting
•Discovery Opportunities
• Industry Benchmarks
•Research
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Outbound Syndication
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Outbound Syndication
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• 5 Reporting Themes
• Submission - how well am I collecting content, from organic or PIE, start to finish?
• Content - how much content do I have, in which catalog areas, and how moderated?
• Display - how much content is being displayed and on which sites and pages?
• Reach - how much content is being viewed and engaged with and by how many people?
• Conversion - how well is my content contributing to orders and revenue?
• 4 Areas for Innovation
• Powerful Data Visualizations - Better than Excel, benefiting more types of people
• Trending Data - Offering historical trends & comparison, not just a snapshot in time
• Relevant Benchmarks - Overlaying industry benchmarks to provide better context
• Cross-Client Reporting - Orienting to how clients are structured, multi-site and global
R&R Dashboard & Reporting - Vision
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R&R Dashboard - Vision
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Agenda
•Analytics & Reporting Overview
•Recent Resources
•Upcoming Resources
•Discovery Opportunities
• Value of a Review
• Network Analytics
• Industry Benchmarks
•Research
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Value of a Review
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•Pilot Goal: To quantify the value of incremental reviews and share of voice for products in a category on an E-commerce site, leveraging split testing and predictive analytics
• Where do reviews matter most?
• What is the optimal volume by category for conversion?
• Where do we need to focus review volume efforts?
Value of a Review Pilot
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The Review Value Model
Convers
ion
Number of Reviews
DSLR Cameras
Dishwashers
Beds
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Product Detail Page - Reviews
We know that
reviews influence
consumer purchase
decisions at the
product detail page…
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Category Page - Reviews
…But how do
reviews influence
higher in the funnel
(e.g., category page)
when consumers are
choosing which
products to view?
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Split Test Example 1 (Absolute Volume)
Split A Split B Split C
Category Page
Product A 20 15 10
Product B 20 15 10
Product C 20 15 10
Product Detail Page
Product A 20 15 10
Product B 20 15 10
Product C 20 15 10
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Split Test Example 2 (Share of Voice %)
Split A Split B Split C
Category Page
Product A 10 10 10
Product B 10 10 10
Product C 20 15 10
Product Detail Page
Product A 10 10 10
Product B 10 10 10
Product C 20 15 10
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Network Analytics
June 2014
3.76 Billion Pageviews
527.88 Million Unique Visitors
14.3 Million Transactions
3,885 Sites Worldwide
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Competitor Strength
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Snippets
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Snippets
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Themes
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Agenda
•Analytics & Reporting Overview
•Recent Resources
•Upcoming Resources
•Discovery Opportunities
•Industry Benchmarks
•Research
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Industry Benchmarks http://www.bazaarvoice.com/industries/benchmark/
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EconTalk
http://www.econtalk.org/archives/2014/07/michael_munger.html
“If you are under 30, you trust--within
limits--the information that you get from
reviews much more than old guys like
me with my walker.”
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Agenda Review
• Analytics & Reporting Overview
• Productized Analytics Offerings
• Social Analytics Offerings
• Recent Resources
• Conversion Impact Report
• Inbound Syndication Report
• Upcoming Resources
• Outbound Syndication Report
• Enhanced Ratings & Reviews Reporting
•Discovery Opportunities
• Value of a Review
• Network Analytics
• Industry Benchmarks
•Research