rise of the digital consumer: protect & enhance your online business reputation
TRANSCRIPT
CIGNEX Datamatics Confidential www.cignex.com
Rise of the Digital Consumer: Protect & Enhance Your Business Reputation
5/21/2015
Name: Vikram Samant
Title: EVP – Open Source Solutions
CIGNEX Datamatics Confidential www.cignex.com
Digital Consumer Dynamics
Explosive Growth of Social Media
The rise of Price comparison
Websites
Influence of Review websites
Consumers want Transparency
Security & Privacy Concerns
Multi-Channel Buying Decisions
Demand Omni-Channel
Experience
Change in Consumer
Demographics
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Driving Engagement with Gen Y – Challenges
64% CG execs report that
gaining Gen Y loyalty will take more than just delivering on brand
promise
44% believe that lack of strong
engagement in social channels favored by
Millenials is the biggest challenge
33% think that they are not
effective in digital marketing and
communications
71% CG execs report that they
do not understand the complete path to purchase
of the Millenial shopper
admit that they do not have a direct to consumer
engagement strategy
42%
CG enterprises need to adopt a Direct to Consumer Engagement Strategy
Source: CGT Aug 2014 Survey
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The CPG Consumer Disconnect
Only 25% CG Executives reported
using search engine tools to interact with
customers
A mere 19% CG Executives said that they use independent
websites to engage customers
69% and 46% of consumers reported respectively that search engines and
independent websites were their most preferred channels to learn about and
compare products
Source: Marketingcharts.com
&
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Online Reputation Management (ORM) is the practice of crafting strategies that shape
or influence the public perception of an organization, individual or other entity on the
Internet. It helps drive public opinion about a business and its products and services.
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What is Online Reputation Management?
Reference: Technopedia
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Importance of Online Reputation Management
Tried the new juicer.
Refreshing! Loved it!!
Ratings & Reviews
87% Of executives rate
Reputation risk as more
important than other strategic risks.**
84% of buyers are influenced
by consumer written reviews
71% Of consumers change
their brand perception
after seeing a brand response to a
review
70% People trust the opinions
of other
consumers
To Buy or Not to Buy: The Decision has taken place before you knew about it.
***Local Consumer Review Survey 2014, Bright Local Study
Moments
of Truth
62% of millenials already know
what they want before entering a store
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Link Between Reputation and Business Performance
Over the past 5 years, companies with leading reputations achieved shareholder
returns 100% higher than competitors and outperformed the S&P by over 88%
Courtesy: prophet.com
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Tell Tale Signs of a Reputation Apocalypse
Increased Negative
Sentiment
Shrinking Leads or Conversions
Increased Customer
Service issues
Increased Competitor
Positive Sentiment
Negative reviews show up more than
positives
Responding late to Negative
Reviews
Not having a consolidated, real time view of your online reputation
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Reputation Mismanagement
Can this happen to your business?
A multinational food and beverage company failed to address negative comments about its environmental policies, attracting a backlash from the public. This forced them to suspend activity
on their public page.
A Korean electronics giant was fined upwards of $300,000 for hiring people to write misleading & exaggerated reviews about their products and degrading ones about competitor products
A leading US baking company aggressively reacted to negative reviews and comments which was eventually picked up by the local news. Publicity for all the wrong reasons.
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Build, Monitor, Manage and Amplify your business reputation
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Extracts real time reviews of brands, products and services from hundreds of
online review websites allowing YOU to make informed decisions, track your
competitor, manage launch day sentiment, plan actionable campaigns and
ultimately increase your online reputation.
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Improve Consumer Engagement & Drive Brand Loyalty
Encourage Customer Reviews
Encourage 50% of your daily customers who had a good experience to write a review
Quick Response
Respond to unhappy customers by being transparent, honest and providing them an
incentive like a free coupon/discount
Watch, real time. Respond, real time.
MultiChannel Reviews
Provide your customers the option to write a review over email, sms, web, mobile,kiosk etc
CRM
Run frequent campaigns and promotions to improve loyalty and realize lifetime value
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Analyze Consumer Feedback for Insights & Decisions
Identify best & worst performing geos by ratings &
reviews
Track consumer sentiment in real
time
Identify review websites that attract most
negative/positive reviews
Identify positive & negative keywords most used by your
customers
Benchmark ratings & reviews
against competition
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Proactively Manage your Brand’s Online Reputation
Watch, real time. Respond, real time.
Cross pollinate 4 & 5 star reviews
Push positive reviews to Google+, Facebook, Twitter etc
Identify weak links
Identify & correct weaknesses in your Marketing & Operations
Monitor popular review websites for negative comments.
Monitor Review Sites
Create your own branded website listing to improve reputation and drive new business
Branded Site listing for Reputation Management
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Real Time Dashboards
Competitive Analysis Reputation Geo Map
Frequent Keywords Sentiments Over Time
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All your reviews from multiple sources…..on one page
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Analysis by Category
Understanding what contributes to your score
Create campaigns that highlight the positives
Identify initiatives that can improve lagging
areas
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International provider of home, home office, business products, and industrial solutions -
BEFORE:
• The marketing team manually collects feedback from 50+ retail sites for a few products. Spends weeks analyzing data to generate actionable insights. Comparisons against competitive products is a serious challenge.
AFTER:
• Auto receiving reviews for 200 products from 50+ sites on a real time basis. Instantaneous alerts to negative reviews and able to address them, while promoting and cross posting positive reviews.
• Can quickly analyze which keywords have contributed to the sentiment, funnel them in order of impact and take corrective action.
• Armed with comparatives of keywords/reviews regarding their top 3 competitors products and can now tailor their marketing campaigns to highlight the right areas.
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Case Study
All within 20 days
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CIGNEX Datamatics
0
8
#1
14
License Cost Option
Open Source Products
Open Source Consultants
Pure Play Open Source Services Company
Open Source Implementations
Global Offices
Open Source Community Contributions
Open Source Books Authored
Business Engagement Platforms
13+
5+
5000+
500+
450+
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Our Capability
Portals & Collaboration Portals Enterprise Integration Identity Relationship Management
Business Engagement Platform Digital Engagement Platform (DxEP) Employee | Supplier | Customer | Partner Franchise Management Platform (FMP™ Reputation Management Platform RMP™
Big Data Big Data Integration & Delivery Platform (BigD)D™
Open Source Consulting
Application Modernization OpeRA™ - Open Source Readiness Assessment Legacy Migration
Application Development & Management Services Development, Support, Refresh, Performance Management and Managed Cloud Services
Testing
UI/UX
Solutions
Platforms Services
Enterprise Content Management Document Management Web Content Management Learning/Knowledge Management Imaging and Scanning - OCR/Digitization Enterprise Search BPM/Workflow
E-Commerce B2B and B2C Omni-channel Analytics
Big Data Analytics Data Integration, DQM, MDM Data Storage, DW Reporting Analytics
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Thank you
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