Giving Customers More Control to Drive Sales

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Giving Customers More Control to Drive Sales
Speaker Jay Shaffer Title VP Sales and
Marketing Company PowerReviews
Logo here
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Agenda

• Agenda
• About us
• Recent research findings eTailing Group White
  Paper, merchant and customer perspective on
  customer reviews and user-generated content
• The Empowered Shopper
• Let them drive social navigation
• Customers selling to other customers
• Merchant perspective and findings

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PowerReviews a little about us

• Most deployed customer review solution in the
  world
• 300 clients, over 2,500 websites worldwide UK,
  Canada, France, Germany
• Fully moderated saas solution
• 3 main products
• Reviews
• AnswerBox
• Mobile
• 40 employees, San Francisco HQ with
• Tag-base approach to customer reviews
• Empower shoppers to connect to the product
• Inventor and visionary of Social Navigation

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250 Clients more than 2,000 websites
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Why Reviews?

• Reviews serve two purpose in todays e-commerce
  world
• Improve Merchants online shopping experience
• Increased sales
• Increased gross profits
• Decrease customer service support expenses
  fewer emails/calls
• Decrease product returns
• Drive Customer Loyalt

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Two-thirds of consumers want to read reviews!
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The New Online Shopper Customer Perspective on
Reviews

• Consumers show a dependency on customer
  reviews, becoming addicted to the value
• These power shoppers, coined Social Researchers,
  have a propensity to always read reviews with
  significant time invested in the process
• Reviews are valuable regardless of the product
  category
• Customers prefer to know what other customers
  think rather than being shown the merchant
  point-of-view
• Understanding the selections and preferences of
  like-minded individuals is appealing
• Tools that use customer feedback throughout the
  shopping research process add value to selecting
  and purchasing a product

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The New Breed of Shopper Social Researcher

• 65 of online shoppers are Social Researchers who
  read reviews always or most of the time prior to
  making product purchase decisions
• Of This Group
• 64 research products online more than ½ the
  time, no matter where they buy the product
  (store, web, catalog)
• 76 find top rated products as rated by customers
  to be extremely or very important
• 86 find customer reviews extremely or very
  important

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The Empowered Shopper

• The Empowered Shopper
• Let them drive via Social Navigation
• Customers Selling to other Customers

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Social Navigation tags incorporated into
navigation filtering choices
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Social Navigation key data points

• 82  found reading reviews better than
  researching a product in-store with a
  knowledgeable sales associate
• Social Researchers were 76 more likely to shop
  on a retailers website vs. a competitors site if
  it offers social navigation
• Study participants found it extremely or very
  helpful to narrow product selection based on
  feedback from people just like them
• People with Like Interests (64)
• People with Similar Uses (59)
• Pros (56)
• 93 of consumers indicated that they are likely
  to start their shopping process on a website that
  offers Social Navigation
• 70 expressed a likelihood to shop at a
  retailers website that offered customer-rating
  narrowing capabilities vs. a competitors website
  that does not

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Promoting the value of customer reviews to your
shoppers
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Go ahead. Shop smarter.
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Other items I use and similar products I own.
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The power of the reviews snippet This pillow
saved my marriage!
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Reviews support brand Ace, the helpful hardware
place.
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Top-Rated as a Merchandising Tool
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Top-Rated selections are more powerful than
items on saleHigher AOV
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Top-Rated as email campaigns
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Customizable consumer insights Valentines Day
Promotion
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Email Campaigns variations on a theme with
User-Approved messaging
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Multi-Channel applications ratings and review
snippet in catalogs
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Multi-Channel applications ratings and review
snippet in catalogs
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Pack-ins for shipment orders
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Integrated top-rated products the new best
recommendation
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Integrated Campaigns
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More Multi-Channel applications
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The Merchant Perspective on Customer Reviews

• Reviews are a must-have merchant functionality
  to compete online today
• Reviews are not about ROI but ultimately about
  the evolution of the customer experience and the
  creation of communities
• Reviews provide a profitable and customer-centric
  entry into social networking and Web 2.0
• Site-wide integration coupled with an exploration
  of cross-channel tactics are next evolution of
  the feature set
• Long term, merchants believe that customer
  reviews will reward them with customer loyalty

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Merchant Measurement Techniques Customer Reviews
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Summary

• Use and adoption of customer reviews has
  significantly increased and will continue to do
  so in 2008
• Customers becoming addicted to reviews in their
  decision making process.
• Reviews allow customers to share valuable product
  insights with one another, significantly
  influencing the buying decision process.
• Merchants are empowering customers with product
  feedback to make informed purchasing decisions
  and product recommendations.
• Merchants are leveraging the power of customer
  reviews throughout the shopping experience to
  drive increased sales, customer satisfaction and
  increased profits.

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Ja

• Jay Shaffer
• VP Sales Marketing
• jay_at_powerreviews.com
• 415-315-9177

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MarketLive Summit 08 - PPT Style Guide

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