the quantitative importance of social commerce - richard anson - reevoo
DESCRIPTION
Richard Anson will talk about the importance of user generated content and how to quantify its impact. He will dispel several myths of social commerce, showing how it is much more than social media, how it is measurable, and prove with numbers the impact of social commerce on conversion and sales. Richard will also provide some best practice examples and tips on what to measure and how to analyse results and give an overview of trends and user behaviour. This session is a great opportunity to learn, benchmark and ask all your questions to an expert.TRANSCRIPT
Social Content: benefits and best practices Richard Anson CEO and Founder
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Reevoo in numbers
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3 millionpieces of social commerce content in the Reevoo network
150businesses use our social commerce services
750 millionpieces of Reevoo content used by consumers each month
20countries where Reevoo services are deployed
18%average sales uplift from our services
Agenda
• Consumer demand for social content
• Beyond the basics Optimising reviews to really work for your business
• Social conversations Increasing customer engagement and sales
• Social data Generating insight to improve your proposition
• Where next?
Consumer demand for social content
Source: Fly Research Online Survey September 2011
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Demand for social content | Trusting our peers
Friend’s recommendations
Consumer reviews
The media (newspapers, magazines, blogs)
Recommendations from shop assistants
Advertising
74%
65%
34%
30%
26%
Sales uplift with reviews
A new way to buy | The social purchase journey
You can’t control the new purchase journey.
You can influence it at key junctures and touchpoints.
A new way to buy | The social purchase journey
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Social spheres | Your own website and beyond
Offline
The web& social web
Mobile
Your website
A new way to buy | The challenge
Your opportunity is to inject trusted social content throughout the purchase journey to help you drive revenue and customer loyalty.
Agenda
• Consumer demand for social content
• Beyond the basics Optimising reviews to really work for your business
• Social conversations Increasing customer engagement and sales
• Social data Generating insight to improve your proposition
• Where next?
Beyond the basics Optimising reviews to really work for your business
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Beyond the basics | Optimised reviews increase traffic from all sources
Organic traffic
•Embeddable unique content
•Refreshed daily
•Expanded keyword reach
Paid traffic
•Cheaper PPC
•Rich snippets drive click through rate
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Beyond the basics | How reviews optimise your site for different traffic sources
• Compete on your reputation
• Greater engagement with customers
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Beyond the basics | How reviews optimise your site for different traffic sources
• Improved engagement with your brand
• Regular stream of content for ‘customer walls’
• Brand amplification
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Beyond the basics | How reviews optimise your site for different traffic sources
• Greater engagement with customers
• Improved offering from executing against customer feedback
• Increased return rate from loyal customers
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Beyond the basics | How reviews optimise your site for different traffic sources
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Beyond the basics | And once the traffic reaches your site…
• Greater
engagement
• Improved on-site conversion• Increased loyalty
more likely for review-optimised
pages to increase their rankings
2xexpanded keyword reach
87%increase
in
organic traffic
34%
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Beyond the basics | Impact of optimised reviews on search engine traffic
Beyond the basics | Impact of optimised reviews on search engine traffic
Beyond the basics | Optimised product reviews increase conversion 3x
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Beyond the basics | Optimised product reviews increase conversion 3x
Beyond the basics | Social sharing drives traffic and brand engagement
Beyond the basics | Reputation reviews increase conversion 2.6x
Coverage Depth Speed Leverage Trust Traffic
Proactive harvesting Platform Trust
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Beyond the basics | Social content best practices
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Beyond the basics | More content equals more conversions
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Beyond the basics | Proactive engagement makes a huge difference
Passive collection
26%of reviews are
negative (below 5/10)
Proactive collection
6%of reviews are
negative (below 5/10)
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Beyond the basics | Proactive engagement makes a huge difference
One company asked for reviews and the product scored
Scores for the same product, on two different sites:
One company waited for reviews and the product scored
7.3out of ten
8.6out of ten
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Beyond the basics | The importance of trust
Agenda
• Consumer demand for social content
• Beyond the basics Optimising reviews to really work for your business
• Social conversations Increasing customer engagement and sales
• Social data Generating insight to improve your proposition
• Where next?
Social conversations Increasing customer engagement and sales
Social conversations | Reevoo Ask an Owner: confirmed owners help shoppers
4.8xtime on site
3.5xpages viewed per visit
1.1xvisitor return rate within 1 month
1.8xconversion rate
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Social conversations | Engagement and conversion increase on your site…
Social conversations | … and across the social web
Agenda
• Consumer demand for social content
• Beyond the basics Optimising reviews to really work for your business
• Social conversations Increasing customer engagement and sales
• Social data Generating insight to improve your proposition
• Where next?
Social data Generating insight to improve your proposition
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Social data | Actionable insights from customer feedback data
Social data | Reevoo Insight
• Specialist team within Reevoo
• Extensive experience analysing customer feedback
• Proprietary tools and analytical framework developed in house
• Support provided in the form of standardized reports or tailored project work
• A highly tailored, collaborative approach
• Information not data
Agenda
• Consumer demand for social content
• Beyond the basics Optimising reviews to really work for your business
• Social conversations Increasing customer engagement and sales
• Social data Generating insight to improve your proposition
• Where next?
Where next?
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Where next? | A vision of the future
Thanks