Posts Tagged ‘Forrester’

Sam Decker The New Rules of Engagement: Making Online Shopping Relevant to Consumers

March 12th, 2009 by Sam Decker Chief Marketing Officer

The economy may be plummeting, but 61 percent of shoppers say their buying confidence can be boosted via online resources, according to recent study results from “Online Retail: Driving Relevant Experiences,” presented in New York on March 3 by Patti Freeman Evans of Jupiter Research, a Forrester Research company.

A panel discussion followed, featuring Patti Freeman Evans; Bryan Eisenberg, author of Call to Action, Waiting For Your Cat to Bark, and Always Be Testing; Mike Svatek, VP of Product Strategy for Bazaarvoice; and David Selinger, CEO and founder of richrelevance. The event was co-hosted by Bazaarvoice and richrelevance.

Forty-eight percent of online shoppers plan to reduce their expenditure over the next 12 months. With spending budgets thus lowered, customers are more anxious than ever to validate their purchases, sometimes after utilizing three or more sources. Consumers also make fewer in-store impulse buys and use online resources, such as ratings and reviews, earlier in the purchasing process, Evans said.

Evans challenged her audience to rethink the relationships they currently build with e-Commerce consumers. People return to familiar environments in difficult times, and savvy retailers will recognize their customers’ needs to create an atmosphere of trust and value.

Panelist Bryan Eisenberg encouraged companies to use review language gathered from their Web site to re-write their product copy. As he put it, “Do you ‘get’ your customer? Are you speaking the same language?”

If you missed this event, join us for another exclusive briefing by Patti Freeman Evans in San Francisco on March 26, 2009. The event is free, but registration is limited; register today.

The New Rules of Engagement: Make it Relevant
Online Retail: Driving Relevant Experiences

March 26, 2009
9:00 a.m. to 11:30 a.m.

The Palace Hotel
San Francisco, CA

Register now at www.bmmreg.com/Engaged. See you there!

Brant Barton Six in 10 US Consumers Share Product Advice With Friends & Family

December 5th, 2007 by Brant Barton Co-Founder and Chief Innovation Officer

eMarketer reported today that six in 10 surveyed US consumers share product advice with friends and family, a finding from Forrester Research's NACTAS Benchmark Study.  

While the highly sought after "Influentials" segment garners much of the focus of word of mouth marketers, Forrester's findings provide ammunition for more broadly focused approaches to enabling and capturing word of mouth.  Rather than thinking in campaign terms, brands should be seriously evaluating tools and technologies that can widely capture consumer opinions, enable deep analysis of what these opinions reveal about brand strengths and weaknesses, and facilitate the distribution of word of mouth to those who actively seek it, from the brand directly or from other sources.  

Fortunately, marketing spending trends suggest that this is in fact happening.  The eMarketer brief also states that spending on word of mouth marketing totaled $1 billion in 2006.  Small by traditional marketing standards but quickly growing, with 2006 spending representing a 36% increase over 2005.   

Sam Decker Retailers & Manufacturers “Share” with Social Networks

October 18th, 2007 by Sam Decker Chief Marketing Officer

This week I returned from speaking on a panel at Forrester Consumer Forum. 700 executives from manufacturers and retailers attended the conference in Chicago, which was entirely focused on Social Technologies. Our advisor, Ze Frank, also spoke on a keynote panel to discuss the future of media (hint: it’s ‘bottoms up’). Yesterday I returned from Silicon Valley, meeting with several Web 2.0 companies and partners. These meetings are helpful for me to bridge the Web world of social networking to the needs of online retailers, and vision new capabilities into our roadmap. Where do social networking and retailing mix? How do manufacturers and metrics-driven online retailers drive measurable results and relevancy in these new spaces?

We started answering that question today with the launch of our newest feature, called ShareThis(tm). It is a FREE feature for our clients allowing their shoppers and customers to share a review, profile or product to their favorite social networking or bookmarking site. And because we’re already hosted in their site, we can turn this live within days without IT involvement.

Dow Jones covered the launch, including commentary from Dell. Here’s a snippet from the article:

The feature enables a person who is, say, excited about the Dell monitor he just bought to share the news by posting on his Facebook profile a link to a review that he or someone else wrote. The post, which can also include an image of the monitor or the Dell logo and brief comment from him, will show up on his profile mini feed and in the news feed his Facebook friends see. Bazaarvoice says no money will change hands; shoppers won't be paid for posting reviews and Facebook won't get fees.

"It's making (consumers) an advocate" for brands on sites where the audiences are highly desirable to marketers, yet tend to be skeptical of online marketing, says Greg Sterling, of Oakland, Calif., consulting firm Sterling Market Intelligence. "It's trying to leverage a more trusted environment" and a form of marketing — word-of-mouth — that is particularly trusted by consumers.

It is also an effort to engage people who online-marketers have come to call "influencers" — people who through their expertise and efforts to share that expertise in online forums have gained outsized influence over other consumers. Sites like Facebook, del.icio.us and Digg are places where these people, and other less-active Web users, love to express themselves and have access to large numbers of other people.

"Now, for the first time ever, whenever (consumers) see a product they like, they can post it as a representation of who they are and what they like," says Sam Decker, chief marketing officer at Bazaarvoice.

I couldn’t have said it better myself! :-)

You can see it live on these sample product pages from Dell, Toshiba and Jewelry Television.

We have future plans for this functionality, plus other ideas on social network integration with user generated content. Drop me a note if you’re interested in discussing them (sam at bazaarvoice.com).

If you’re a client interested in adding this to your site, it just takes a call or email to your Community Manager…otherwise you’ll be hearing from them! :-) Remember, it's free! I mean FREE!

Sam Decker The NPV of Reviews (Why to Prioritize Before the Holidays)

September 11th, 2007 by Sam Decker Chief Marketing Officer

When I managed the Dell.com consumer site it was always a mad rush to the deadline of getting site functionality up before mid November. After that, we were in “make sure things stay up” and “optimize our content” mode.

Deciding which projects were built before the holidays involved a strategic decision-making process that I went through each year for many years. Many of our retailers we talk to are going through these decisions right now, debating if they should add reviews before the holidays vs. other priorities. The case I would assert for adding reviews now — before the holidays — is on a simple premise of Net Present Value (NPV). The business case process I helped build at Dell was based on this simple financial principle. (more…)

Sam Decker The Consumer/Marketer Control Framework

May 1st, 2007 by Sam Decker Chief Marketing Officer

I'm not sure how I missed one of Pete Blackshaw's best ClickZ articles, but here it is, on April 3: Repeat After Me, We're Still in Control!

Basically his point is that we do have control on driving customers to buy from us, it's just a different lens. There are different levers and controls. Marketing has to move more upstream. The best part of the article is this Consumer / Marketer Control Framework:

 

Quoting Pete…

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Sam Decker Sherpa Study: 58% Prefer Sites with Reviews

April 9th, 2007 by Sam Decker Chief Marketing Officer

A new report from MarketingSherpa was released that featured a section on the effectiveness of ratings and reviews.

You can read the summary here. In short the study found that 58% of online shoppers prefer sites that feature ratings and reviews…

 

This is one more data point to support others (see our stats page):

  • 71% of online shoppers read reviews, making it the most widely read consumer-generated content. (Forrester)
  • 77% of online shoppers read consumer product reviews and ratings (Jupiter)
  • Ratings and Reviews is the second most important site feature behind search and online buyers who site ratings and reviews most useful site feature has more than doubled from ’05 to ’06.  (Jupiter)
  • 92% deemed customer reviews as “extremely” or “very” helpful and ~ 71% used keyword searches to find products. (eTailing Group)
  • After their order, PETCO asked customers, "What online tool most influenced your purchase decision?" The #1 answer was Product Ratings & Reviews, with site search coming in a distant second. (PETCO)
  • CompUSA exit survey: 81% consider the availability of customer reviews to be Very important (33%) / Somewhat important (48%) (CompUSA & iPerceptions study)
  • 63% of consumers indicate they are more likely to purchase from a site if it has product ratings and reviews. (CompUSA & iPerceptions study)
  • 39 percent of those who bought from sites with reviews cite the reviews as the primary factor influencing the purchase decision. (Foresee Results Study, 2006)
  •  48% of online shoppers seek reviews before purchasing (eVoc Insights)

This is third party research. We also have about 20 case studies demonstrating different ways clients are using reviews to make impact in conversion, AOV, margin, loyalty and lower returns.

Is there enough support that ratings and reviews are effective. Um, yeah. But we are always looking for more!

Brett Hurt Sam Decker Elected To WOMMA’s Board, Founder Andy Sernovitz Joins, and Loyalty Lab Partners

April 7th, 2007 by Brett Hurt Founder and CEO

This week, we proudly announced that Sam Decker, our VP of Marketing and Products, has been elected to the Word of Mouth Marketing Association's (WOMMA) Board of Directors.  This is a well deserved win for Sam.  Sam has certainly proven his leadership experience at Bazaarvoice, leading our marketing team to accomplish a solid press hit more than every two days since launch and leading our product team to build a a world-class solution that services the likes of Sears, HP, The Home Depot, PETCO, Overstock.com, Macy*s, Dell, and over 80 other eCommerce leaders.  Sam has also established himself on a local level, being elected to serve as the incoming President Elect of our local Texchange, which has hosted speakers like Guy Kawasaki (little known fact: Guy was one of my first investors at Coremetrics) and Dr. E. L. Kersten, the founder of Despair.

WOMMA is an organization that I really believe in.  Like Shop.org (where I served on the Board of Directors for over two years), it is a non-profit dedicated to serving its rapidly growing industry well.  My co-founder, Brant, Sam, and I have all had the pleasure of speaking (teaching?) at WOMMA events.  As a matter of fact, Sam is speaking again on April 18 at WOMMA's "Word of Mouth Basic Training" conference in New Orleans, alongside people like Dr. David Weinberger, who co-authored "The Cluetrain Manifesto" (the book that inpired me to select our "unusual" company name).  Sam is a busy man and is also speaking at Forrester's Marketing Forum 2007 on April 12 in Miami.

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Sam Decker 19 Million Reviews Served on Cyber Monday

December 15th, 2006 by Sam Decker Chief Marketing Officer

We had three beta customers at this time last year. So a couple weeks ago was our first Cyber Monday hosting reviews for some of the largest online retail brands. For example, we serve 3 of the top 15 retailers including Sears, The Home Depot, and Overstock.com. Because we host the content through our clients pages, we tracked total number of impressions and reviews served. Through our logs we estimate we served over 19 million reviews to online shoppers on November 27, Cyber Monday.

Frankly, we expected a large number. Jupiter reports 77% of online shoppers seek product reviews and Forrester suggests reviews are the most widely read consumer generated content on the Web. And we learned from BuzzMetrics that 25% of google searches on top brand names bring up consumer generated content — that's where our SearchVoice SEO pages become very useful!

We're pleased that for our first big holiday there were no glitches or downtime. The origin servers and content distribution network are telling us to 'bring it on'! And so we shall.