trusted social commerce produces loyalty

Make Your Social Commerce Experience More Trustworthy

Part 4: Increase Trust, Intensify Loyalty

Why Trust is Important

Lack of Trust has serious consequences for brands

“Tell me if you have ever done this in relation to a company you do not trust”

Edelman Trust Barometer

84% Refused to buy their products or use their services

77% Criticized them to people you know

76% Refused to do business with them

36% Shared your opinion and experiences on the Web

2 © Demand Media 2013 All rights reserved

3

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

© Demand Media 2013 All rights reserved

4

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


5 Factors that Influence Your Social Trustability

5

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


4

Trust is Important at Every Stage

6

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

LOYALTY

2

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


Loyalty: Enduring Affinity, Long-lasting Value

True Loyalty is about consumers forming a long-lasting connection with your brand

Loyalty provides deep value for both your customers and your brand

Trust is at the core of Loyalty that consumers bestow upon you

Loyalty-focused brands identify their loyalists and work with them

Certain Social Commerce features can influence your trustworthiness


8

Use gaming features like Points, Badges and Leader Boards to reward consumer behaviors that enhance the level of Trust in your Social Commerce experience

The Cleveland Cavaliers reward fan participation, but the highest rewards go to contributors the community respects

Gamification Surfaces your Loyalists


9

Encourage your loyal customers to add their voice to your Social Commerce experience with a conversation-friendly features

Add Blogs, Forums, and Comments to your site

And be sure to reward and promote your most highly regarded contributors HomeClick gives its most prolific and best regarded customers

many opportunities to contribute, and acknowledges their efforts

Topical Discussions are a Showcase


10

Make it easy for your most loyal customers to influence others on a personal level

Implement proven features like Friending, Following and Messaging in your own Social Commerce experience

UK home improvement chain Homebase has built social networking features into its Social Commerce experience

Social Connections Create 1:1 Influence


11

Make it easy for your loyal customers to go where their friends and family members are, to talk about their great experience with your products and your brand

Built bridges to popular social media destinations like Facebook and Twitter

Word of Mouth is core to SHOP.CA’s Social Commerce strategy. The online retailer encourages customers to share their experience off the site

Social Media Bridges Enable WOM


12

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

Loyalty is about creating an enduring customer connection

You can accelerate and increase conversions using

• Gamification

• Topical Discussions

• Social Connections

• Social Media Bridges

Social Commerce, Trust and Loyalty


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


14

Pluck is the Choice of Market Leaders


15

This Presentation is Part of a Series


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 Increases Conversion

[email protected]

www.pluck.com

(+1) 512 457 5220

twitter.com/Pluck

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trusted social commerce produces loyalty

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