trusted social commerce increases conversion
TRANSCRIPT
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Consumer Trust in Brands has Eroded
52%
22%
1997 2008 Young & Rubicam BrandAsset Valuator
Trust is an essential ingredient of Social Commerce. But trust in brands has fallen precipitously in the last decade.
Percentage of trustworthy
brands
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Consumers Primarily Trust Those They Know
Nielsen asked 28,000 consumers about Trust and Social Commerce
Nielsen, 2012
92% 8% 70% 30%
58% 42% 58% 42%
50% 50% 16% 84% 15% 85%
Recommendations from people I know
Consumer opinions posted online
Editorial content e.g., newspaper article
Branded websites
Emails I signed up for
Display ads
Mobile text ads
Trust completely/ somewhat
Don’t trust much/ at all
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5 Factors that Influence Your Social Trustability
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IDENTITY When participants are
encouraged to use their real names, the
trustability of the social experience
goes up
OWNERSHIP Verified product
ownership is critical as consumers are diving deep into features and
experiences
ATTRIBUTES When product reviewers and others are identified with structured attributes or characteristics, their
relevancy and trustability grows
RELATIONSHIP When it’s easy for participants to see
how they are connected they can
find trustworthy, personally relevant
information
EXPERIENCE Demonstrated product,
category and skill experience on the part of content contributors
is often even more important to consumers
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Trust is Important at Every Stage
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1
TRUST
New consumers are more attracted to your brand by trusted connections and content
Rewarding contributors who are credible and helpful surfaces your most trustworthy customers
TRAFFIC
4 LOYALTY
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Trust that comes from consuming useful content in the company of likeminded people creates emotional bonds
Direct and detailed product experiences, tied to known, credible sources, inspire more and bigger transactions
ENGAGEMENT
3 CONVERSION
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Conversion: Customer Transactions
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Conversion is the ultimate payoff for your Social Commerce investments
Successful Social Commerce accelerates rates of purchase and boosts your AOV
Trust gives consumers the confidence to do business with you
Certain Social Commerce features can influence the trustworthiness of your shopping experience
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Category Discussions Inform
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Provide a place for consumers and staff to talk about product categories, features, selection and usage, and you end up with content that offers both SEO and educational value
More consumers will find you
And your brand becomes more credible and authoritative
Whole Foods uses Forums to involve customers in discussions of dietary and nutrition issues, by food product
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Product Reviews Influence Purchases
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Product Reviews serve up other consumers’ experiences with a product under consideration
Reviews are more trustworthy when they can be filtered by contributor type and when they deliver feedback on particular product attributes
Redbox injects Trust into its movie reviews by allowing shoppers to filter for Friends’ or Featured Reviewers’ contributions
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Feature Answers Reassure Consumers
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Surrounding your products with Q&A experiences lets shoppers gain confidence from experienced customers and subject matter in your product features
Your Staff should ensure that responses are timely and accurate.
UK home improvement chain Homebase lets customers and staff respond to gardening product questions
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Customer Experiences are Real Stories
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Customers’ project journals, enhanced with photos and videos, are a great source of genuine, trustworthy, product information
Blogs are a ideal platform for Customer Experiences
In Black & Decker’s Step By Step series, do-it-yourselfers share illustrated details of their home improvement projects and the tools they used
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Gamification Motivates Influencers
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Points and Badges capture consumers’ participation, credibility and trustworthiness
Leader Boards can showcase influencers and respected contributors
Public display of these achievements builds Trust in your Social Commerce experience SHOP.CA rewards consumer purchases,
but also offsite word-of-mouth marketing and return visits and purchases that result
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Social Commerce, Trust and Conversion
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Consumers demand Trust in their Social Commerce experiences
Trust influences every stage of the Social Commerce cycle
You can takes steps that build Trust into your Social Commerce experience
Conversion is the ultimate goal of e-Commerce
You can accelerate and increase conversions using
• Category Discussions
• Product Reviews
• Feature Answers
• Customer Experiences
• Gamification
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Integrated customer interaction platform Distinguished by its breadth of features and versatility, with product reviews and much more Used by 600+ retailers and brands Enables them to • grow their audience • accelerate product sales, and • ensure customer delight
About Pluck
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This Presentation is Part of a Series
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Look in SlideShare for the other presentations in Pluck’s
Trusted Social Commerce series: Trusted Social Commerce Attracts More Traffic
Trusted Social Commerce Fosters Engagement
Trusted Social Commerce Produces Loyalty
www.pluck.com
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To Learn More…
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