0:00 Hi, everyone. Thank you so much for sharing your time today and joining our webinar. Today, Bazaarvoice and Pattern have teamed up to show you how to harness the power of online marketplaces. 0:14 Before we get going into the materials, I wanna do a quick introduction. My name is Christine Lee, and I manage our global retail team here at Bazaarvoice. I've had the privilege of working with this company for the past thirteen years and working with one of the some of the best and brightest retailers in the space. 0:28 George, I'll pass it over to you for a quick introduction. Thanks, Christine. I'm George Hatch, director of marketplaces here at Pattern. I've been here at Pattern for six years and, currently own all of our marketplace business. 0:41 Prior to Pattern, I spent thirteen years at eBay all in the motor space, initially helping, car dealers sell cars online before it was really a thing, and then lastly, running some, parts and accessory automotive categories. 0:53 Awesome. I'm excited about this today, George. Before we get started, I wanna jump into a couple of the quick main topics that we're gonna go through and what we'll be talking about. 1:02 First, we're gonna take a look at marketplaces as a whole and talk about why and how third party market places have quickly become such an ecommerce powerhouse. 1:11 Then once we've walked through that impact of marketplaces that we're having, we'll show you some strategies how to set yourself up for marketplace success. Third, we're gonna talk about how both brands and retailers can partner up to make the most of third party marketplace offerings. 1:24 And then finally, we'll end by opening up the floor to any questions that you all may have. So if you haven't already, please check out that chat or q and a tab and drop any questions that you may have throughout the presentation, and then we'll make sure to answer them at the end. 1:39 We're about to get going into the content, but before we do, George and I wanna share a little bit more background about both Bazaarvoice and Pattern and highlight a bit about how our unique products can come together for an even greater benefit. 1:50 So thousands of the world's leading brands and retailers trust Bizarvoice today to drive revenue, gain actionable insights, and create loyal advocates. 1:59 Our extensive syndication network, product passionate community, and enterprise level technology provide the tools that brands and retailers need to create smarter shopping experiences across the entire customer journey. 2:11 And we do this with our full funnel suite of solutions. We optimize our clients' businesses in four ways. First, we help to collect and generate content with ratings or views, questions and answers, social commerce, and creator content. 2:24 That content is then amplified so that it reaches more shoppers by being distributed across our syndication network and promoted across retail channel or social channels. 2:32 Excuse me. In turn, we use that content with our optimization tools like contextual commerce to drive conversion on-site, on search, on social, and across retail. 2:43 And finally, we feed those results into a dedicated reporting and insights platform that are then in turn to use to inform future strategy. George, I'll go ahead and pass it to you for a little bit more on Pattern. 2:54 Awesome. Thanks, Christine. So for those that don't know, Pattern is the number one Amazon US seller globally. We are omnichategory. 3:02 We work with clients that you'll see on the right, you know, everywhere from automotive to baby to vitamin supplements. Pattern really empowers brands to expand their ecommerce sales framework across third party marketplaces while also providing speedy and affordable fulfillment logistics to try to make brand life simpler. 3:21 Our patented AI backed technology simplifies the way brands manage and scale content and creator campaigns. Also, our consulting services are really unmatched. 3:29 What's that means is that you can rest easy knowing that you have a marketplace expert on your side as we work to accelerate brands, ecommerce business. Our model is pretty simple. 3:41 As we work with brand partners, we do an assessment. Our consulting team really looks through brands to see if there's an opportunity. We have a brand scorecard to help brands understand their business on Amazon, but also on other marketplaces. 3:53 If it makes sense, Pattern actually buys the inventory. So we take, the inventory risk or the seller of record on marketplace. We do a wholesale agreement. And so really from a brand partner perspective, it's a weekly purchase order. 4:05 You ship your product into pattern warehouses. We're experts at cross dock and prepping that inventory whether it's heading into FBA, Walmart WFS, or if we're doing fulfilled by merchant and shipping it directly. 4:18 And then Adam does everything else. You'll see kind of all the way through on the right. We consider ourselves an extension of our brand ecommerce teams. And really our goal is to make it easy for our brands to accelerate their ecommerce business. 4:32 Awesome. Now that you've heard a little bit about us, I think it's, good to discuss marketplaces, why do they matter, and kind of where are they going. So the biggest difference and I'll start off really high level. 4:46 First thing we're gonna talk about is marketplace is first party. You'll hear terms like one p and three p. The biggest difference really between a first party and third party marketplace comes down to control. 4:56 In a first party marketplace relationships, retailers store the product in their warehouse or in control of pricing, marketing, and delivering the product. Whereas third party marketplaces, the brand is the seller. 5:07 They control their own pricing, inventory, shipping, and logistics. They may be leveraging, FBA. They may be leveraging WFS, Walmart fulfillment services where it comes in. 5:18 This allows brands to maintain more control while increasing reach. As an aside, there's also why cross utilizing, cross platform managements like platform can make maintain managing and maintaining the various marketplaces and fulfillment details much easier. 5:35 Some notable examples of the third party or three p marketplaces include, you know, the the, Lion or the Amazon, which is Amazon, of course, Etsy, Walmart, Connect. 5:46 For the rest of the presentation, we're gonna focus primarily on third party marketplaces as that's where we're seeing a lot of opportunities for growth. We're seeing a lot of new, brick and retailer, really launching marketplaces and growing in that direction. 6:01 You'll see on this screenshot, an example of a first party marketplace. This is when an item is sold and shipped by Walmart. And so you'll see there, very traditional. 6:11 The brand is sending that in. They are selling that product directly whether it's Walmart or Amazon. They've been, the marketplace has been setting the price on that. 6:20 The there's advantages to this, which is it's simple and easy for a brand. They set up. The disadvantages are you lose price control. Third party, you'll see on the right, this is a sold by pattern example, where it comes through. 6:33 Again, there's disadvantages and advantages to either one of these. You'll see some of the bigger ones on there, seller controls pricing, inventory, promoting, logistics shipping, etcetera. 6:44 More work, but more control for a a seller. Thanks so much for that overview. I think what's interesting is there's really a lot more focus on marketplaces now, and it kinda makes sense because third party marketplaces are projected to continue growing year over year, and they're steadily increasing their market share compared to the non three p ecommerce sales. 7:06 So in the US, three p marketplaces are growing over forty percent faster than their one p counterparts. And, George, you kinda mentioned some of those big third party marketplaces, the Amazons, the Walmarts, the Ebays. 7:17 They still dominate in this field, but what we're actually expecting to see is many new category entrants to make a splash in the coming years. So that might include Target Plus, Macy's, Michaels, and even H and M. 7:27 And, you know, Amazon is the biggest player in the space, but it's worth noting that Walmart is definitely worth some focus because as their marketplace is growing, it's expected to outpace the total growth in the three p marketplace pace, excuse me, in entirety. 7:44 And so I guess for those who are joining now, like, why should you care? And I think that this is super important. One of the largest benefits from being present on the various three p marketplaces is that you're meeting shoppers where they're directly searching for your products. 7:57 Instead of needing to drive them to your own site, you can sell them on whichever website they're browsing on. And as we touched on before, George kinda walked through this, you can maintain way more control over your products in the logistics, which is a more challenging task when it comes to those first party marketplaces. 8:16 And so furthermore, almost two thirds of brands anticipate that their third party marketplace sales will increase over the next year. And this underscores that three p marketplaces are on the rise and also highlights the importance of getting yourself established on these marketplaces really as soon as possible so that you can become the leader in your product's niche space. 8:35 So, George, what's a brand to do? It's really it's a hard question. It's one that a lot of our brand partners come to us initially where the brand may be struggling to manage their own strategy on Amazon and then their b to c site, and then they're looking at where next. 8:50 You know, is this gonna be other country instances of Amazon? Is this gonna be other marketplace players like Walmart? And, Christine, you you hit it really well. We're seeing a lot of strong growth from Walmart, second largest ecommerce marketplace in the US. 9:03 We've got new players like Timu and CN that are kind of making noise right now as they come in. And it's challenging, you know, for a brand. How do they able to to expand and cover all of those marketplaces? 9:15 If you go to the next slide, Christine. Sure. The first step that we do is we're working with brands. We really work with them on marketplace, product marketplace fit. 9:25 And so we're looking at, you know, where that should be next. What is that road map for growth? You'll notice some of the different notable marketplaces that we call out here in in by region. 9:35 So we look you know, you'll hear me preach, dominate domestically, and then expand internationally. I love that how Christine laid it out before. 9:43 I ultimately, I don't care where a consumer chooses to shop. I just wanna make sure that our brand's products are represented well in on there so that we can meet the buyer where they wanna be, that there's great imagery, great descriptions, great content, reviews, delivery, customer service. 10:02 And that's kind of just table stakes, I think, wherever a brand chooses to shop. But this is the challenge is, you know, as you expand, you know, often if you're not selling your product on one of these marketplaces, somebody else is, and they just may not be doing it as well as you, the brand, want it to be or where your customers deserve. 10:21 And so that's where, you know, if you have questions about, you know, marketplaces, if there's ones that you're currently selling in, please drop them in the chat. We'd love to hear where you're seeing success. 10:30 If you have, you know, marketplaces that are really, performing well for you heading in, I know we have a number of brands that are on TikTok shops recently and have been doing really well with a lot of the, user generated content in social selling. 10:45 But would love to hear from anybody on the call if you have marketplaces that are really outperforming for you. Awesome. So what should what should you consider when you're picking the right marketplace to sell your products on? 11:00 I usually go through with all of the marketplaces to consider. The main ones I'm going through really are category product fit, target audience, pricing and fees, market reach and sales potential, operational fit and resourcing required, the brand perception and trust. 11:17 This is a big one with some of those emerging marketplaces that I mentioned, and then the availability of data and analytics. I think there's a great quote from, Manish Denodo, you know, at Walmart here on there where sellers are really looking for a smart path for growth. 11:31 Walmart feels that they're bringing the pizzas together to be a much more than a marketplace and investing in new ways for sellers to serve customers as we grow together. I think it's a great one if you see marketplaces reaching out, and trying to meet the customers where they are. 11:46 Interesting call out. Nordstrom's recently launching a marketplace where it comes in, you know, again, as we see that coming through. So, those are the criteria that we're usually working with with brand partners as we're trying to help them figure out where does it make sense, where are their consumers, and where is the trust, and where does the brand really feel comfortable, you know, interacting with the buyer on their consumer journey. 12:12 And from the brand side, you're all probably familiar with this basic formula, but it's something that we use quite a bit at Pattern. And so it's I I just wanna spend just a minute kinda talking through how you can think about a methodology to increase your revenue and kind of how we think about it internally. 12:28 All of our internal software and and Pattern at Heart, we consider ourselves a data company. So as we're looking through, everything that we're doing with our brand partners really comes into this this ecommerce equation of revenue is is some of the of your traffic, your ability to convert on that traffic, and your price, repeated for the lifetime value of the customer. 12:49 And so all of our different metrics that we drill into are one of these. Is the problem that we're having from a product perspective an issue with traffic? Are we not getting enough traffic? 12:58 If the traffic is there or is it our ability to convert, and that could be that we don't have the buy box, it could be that there's a lower price point. It could be that we're out of stock or suppressed. 13:08 The last one in here is pricing, where it comes in. How is that pricing from a competitor? How are you doing maintaining that price? We work with a lot of our brand partners on, implementing map pricing if they don't have it in the US, working on different, you know, ways they're able to help from a supply chain control perspective to maintain that price, which is really critical to being able to be more effective with your advertising and able to grow your business. 13:34 So these are kind of how we think of it as a framework, and where brands can spend their time kind of doubling through. To just dive a little bit deeper, really that first variable on traffic, we look at this as everything from referred, paid, organic, branded, non branded, category, and subcategory traffic. 13:53 We try to make this easier for our brand partners with our technology, but it really it's all about getting eyeballs to your traffic. This can be anything from high ranking keywords, promoting products across retailers, media networks, collaborating with influencers to promote your products. 14:09 There's a variety of tactics that you can do to drive traffic to your third party listings, but, ultimately, it starts with those eyeballs at the top of the funnel. 14:17 Moving into conversion Christine, I'll turn it over to you. Yeah. This is this is kind of a blend where we kinda see traffic and conversion being, kind of dual purpose because a lot of the things that we're talking about here can actually also help drive traffic. 14:30 But we see that user generated content or UGC plays a really big role in building that trust with the shoppers, being able to answer your question and lead them to that point where they feel comfortable to make a print a purchase and ultimately convert. 14:43 And so good UGC can also include authentic reviews, quality images and videos, and q and a sections. And one of the big advantages we see that brands have when using Bazaarvoice is that they're able to syndicate content to multiple marketplaces. 14:58 So if you're a brand and you get a review on your website or potentially invest in a sampling program, you can distribute that content to Walmart, Macy's, Target, etcetera. 15:07 And as you know, having high having a high quantity of positive, recent, and honest reviews makes your product more visible and more likely to sell on those third party marketplaces, ultimately driving that that ultimate goal of conversion. 15:21 And so let's talk a little bit more about price now too. Awesome. Thank you. And I'm gonna, address a question quickly if I could as well. There was a question, that Anne about considering third party marketplaces and worried about cannibalization of some of their current on-site sales, specifically third party marketplace fees they have on marketplaces versus sales on their own website and cannibalization. 15:45 I think from my perspective, again, I wanna meet customers where they are. And if a customer is choosing to shop on marketplaces, I wanna make sure that my product is there and my brand partners products are there and represented well. 15:56 If you're able to get that traffic to your d two c site, that's an awesome alternative. And, again, you don't have those same marketplace conversion fees and success fees. 16:05 Often on the d two c site, what you have are advertising higher advertising cost to be able to get that traffic there. I don't think it's an either or in my mind. In my mind, it's both because, again, we just wanna meet the buyer where they wanna be. 16:19 Christine, I don't know if you had thoughts on that before I jump into this last piece on price. Yeah. I think we're actually gonna get in with some data about this little bit on kinda, like, what's the right mix and how to rationalize that strategy of first party sites versus third party and then your own d to c strategy. 16:33 And so, hold tight for some of that data, but I think that it's really important to kind of represent where your audiences are. You said it exactly right. We're meeting those shoppers where they want to engage and trying to capture that audience and opportunity in that moment. 16:47 Awesome. Thank you for the questions. Please keep them coming. We'll try to hit them as we're going through. On this the last part on this, you know, your ecommerce equation is really price. This setting the price on third party marketplaces is critical for maintaining brand integrity, driving sales, as well as, advertising efficiency. 17:03 One important principle is is is which you've heard me hit on before is MAP compliance. This ensures a minimum advertised price. 17:11 It protects brand value omnichannel price parity, which keeps pricing consistent across all platforms. You'll hear me talk about this, you know, again and again. 17:19 Really, it doesn't matter to me where a consumer chooses to shop. I wanna make sure that it's they're they're not shopping there based on price alone. They're shopping there because that's their preferred, you know, their preferred site or marketplace to shop on. 17:33 Also, if you're looking to outsource three p logistics, yeah, you should make sure that you still maintain control of the distribution and only work with authorized sellers. 17:41 Often when we see price challenges, it happens somewhere in that supply chain where you have, you know, somewhere a distributor is is selling or is liquidating. 17:50 You know, somebody is not adhering to that policy if the policy is in place to begin with. Right? So for a lot of our brands, the very first place we're looking is how do we put those policies in place to make sure that we can then enforce against them. 18:04 Lastly, adherence to promotional calendars across all channels. Again, reinforcing a cohesive brand experience, customer trust, and a a good buyer experience. 18:15 By implementing these strategies, you're able to navigate the nuances of marketplace pricing while safeguarding your reputation and really maximizing revenue opportunities. 18:25 That's awesome. And a lot of the balance. And this is this is kinda what I was talking about before that, you know, despite that increasing popularity of the third party marketplaces, we still see that brands are struggling with elements of the strategy, and, you know, the question was a great one. 18:39 We actually saw in a recent survey that while most brands are actively enhancing their product listings through descriptions and images, less than half are utilizing their influencer marketing or taking advantage of on-site promotions to boost visibility. 18:51 And, you know, George, I know that you have a lot of opinions on this as well because, that content mix is really important both on one p d two c as well as three p. 19:00 But what are your thoughts here? It it's hard. It is really hard. Everything from content rankings, when you publish content, are you able to make it stick on marketplaces? 19:10 Syndication, are you doing master file uploads? Are you using a third party tool to syndicate that inventory out? Are you checking it? What cadence are you checking to see? 19:19 Is the item gone unpublished? You know, it it's really interesting as we look at all of these challenges on here. And I saw a great question from Doug jumping in, which I think we're gonna hit pretty well. 19:29 Initial product launch doesn't go as planned on a third party marketplace. Strategies you would use to get your ranking higher despite a poor start. And I think, spoiler alert, one of the biggest one here is gonna be, reviews. 19:42 It's it it just as we look at building buyer confidence, we recently did an interesting study pattern just looking at where buyers engage with what content on our product detail pages. 19:56 And so really looking where and where they looked and how much time they spent in each section of the page. And, you know, it's not a big surprise that a lot of it is where you would expect the title, the price, the pictures, a little bit of the bullets. 20:11 But the vast majority of the time is spent engaging with reviews and reading reviews and looking at photos and videos and any of that content, which I think can go a long way to help, you know, if we have a heart a bad start. 20:24 The other side of that, I think, is advertising. You know, is there some marketplaces have the ability to kind of help with that cold start? But I think you'll hear some of those strategies as we continue through. 20:33 Yeah. That's super interesting. And, I mean, obviously, from a review advocacy perspective, that's something that we know is, very true to our heart, and we have a ton of data that supports that as well. 20:43 But I think kind of bringing up a broader theme of the mix between three p and one p, it seems like each brand kinda have a slightly different strategy and also retailers are encouraging brands to have a different strategy across these two. 20:55 How have you been kind of working with your brands to think about that? Great question. We're seeing this more and more where larger marketplaces are pushing different portions of what for their former one p business to find a solution in marketplace. 21:11 And so I think more and more brands are having to really try to figure out what the options are if they move away from one p, what that impact is on their business overall, how do they manage that, do they manage it themselves setting up their own, you know, seller account on all of these different marketplaces, do they use a partner to try to manage that. 21:29 It really is it's a topic that's come up quite a bit recently, and we're hearing from a lot of our different brands, especially as we have retailers like Walmart, you know, pushing brands to carry a mix of both three p and one p offerings. 21:42 Anyway, something that I've heard quite a bit where it's coming in. We work with a number of brand partners across both one p and three p. Sometimes it's advantageous, for example, for brands where they have one p inventory in store and able to really, you know, just take advantage of the forty seven hundred plus Walmart brick and mortar stores. 22:00 And then the rest of their catalog, they're able to offer to make sure that they have a full brand experience on Walmart, but without necessarily having everything in one p. That way, you kinda have the best best of both worlds. 22:11 Though it is a bit of a challenge balancing advertising, balancing promotional calendars, pricing, you know, some of those components that we talked about earlier. 22:19 Yeah. For those who are on the line and are willing to be brave and kind of offer some insights, we'd love to hear about your thoughts on that mix between three p and one p. And, also, if any retailers are joining today, we'd love to hear kinda your thoughts on how you advise some brands to think about that too. 22:33 But we could talk about that all day, but I'm sure you guys wanna get some of your recommendations. So in our third section, we're gonna look a little bit more about how both retailers and brands can be working together to ensure mutual marketplace success. 22:48 And so there's a couple different ways that they can be both brands and retailers can be working collaboratively on this shared goal of wanting to see those successful product launches. 22:56 And here's a few highlighted strategies. So first, we've touched on them a little bit, but sampling programs are a great tool for brands to be able to boost product detail page performance and enhance SEO rankings with incentivized reviews. 23:09 And, additionally, dynamic pricing allows for effective price management across various platforms, ensuring that those promotions like George talked about resonate with consumers while maximizing sales potential. 23:21 And the third thing that we'll talk about is visual syndication of social user generated content, which plays a huge role in engaging shoppers. It can provide compelling photo and video content that showcases products in a real life way that's crucial to driving interest and ultimately conversion. 23:38 Finally, and this is really important, but retailers can support brands with those PDP scorecards that highlight performance metrics, helping their vendors to identify strengths and areas for improvement. 23:48 And together, these collaborative efforts can really pave the way for marketplace success and drive growth for both brands and retailers. So let's dive into each a bit more. 23:59 The first one, if you're a brand and you're launching a new product, you might have a way to get existing reviews, but you might not have any at all, nor you might not have a way to get anything from any existing purchases. 24:11 So this is where sampling or incentivized reviews are extremely useful. Though, I do wanna caution that there's been a lot of tightening FTC regulations around review authenticity and honesty, So it's really important to partner with a respective platform, like Bizzare Voice, to implement your sampling program. 24:28 And depending on which marketplace you're selling on, the retailer might already have a sampling program that you can participate in. This is, ones like the Target Hayes Bullseye Program or the Macy's Review Squad. 24:40 And if you're a retailer who's looking to support your three p marketplace sellers, setting up a sampling program is a really great way to help them get those initial reviews, that their products really need so that brands can avoid having that cold start problem of, like, not getting the sales because they don't have the reviews and not getting the reviews because they don't have the sales. 24:57 It really helps them to hit the ground running by enabling excellent products to reach the top of the search and category pages. And then ultimately, in turn, it's driving a better customer experience for the end marketplace shopper, which is a overall win. 25:11 But, George, can you share a little bit more about the promotional pricing? Yeah. When it comes to promotional pricing, the level of competition on the marketplace means that without a plan, brands are prone to experiencing a profitability death spiral where they continually cut their prices to beat the competition. 25:29 I've seen this with a brand partner that had fifteen thousand authorized distributors, and really where it came to marketplace is all they could compete on was price. So, it results in a nonprofitable environment for most businesses, especially for smaller ones. 25:41 A solution for this, you've heard me talk about it before, but implementation of MAP, a minimum, advertised price policy. This allows brands to ensure consistent pricing across retailers, protect brand image, perceived value. 25:54 Strategy also encourages retailers to focus on value added services, customer experience rather than solely engaging on trying to cut price, to be able to foster that kinda healthier marketplace where brands can maintain premium positioning and consumer trust. 26:13 Yeah. I think that's the biggest one we see. It's just it's it is such a hard one to come out of where you start seeing that discounting in, And often, we'll even see brands launching new products or fresh UPCs to be able to do it without discounting because it is such a challenge. 26:27 I think everyone can agree that we wanna avoid a death spiral. That elicits a visceral visceral reaction. I think the next one that's really important to think about is the importance of visual syndication. 26:39 So we've seen that across a lot of clients, when they share social content to their ecommerce site, it drives significant gains. 26:48 And as a shopper myself, traditional product imagery is great because it's showing me, like, what the product itself is, and I'm using that review content to be able to convince me that this is the product that's right for me. 26:59 But social content does another thing which is really driving that inspiration. It's really serving to inspire me. Like, that looks beautiful. I want it. It's going to make me feel a certain way. 27:08 And as a brand, you can give your shoppers the experience they crave by consolidating both that brand created content that is important with the user generated content and sharing that with your retail partners. 27:18 This shows up in galleries in the PDP so that shoppers are seeing that real life examples from satisfied customers. And ultimately, from a retailer perspective, you wanna give the shoppers these experiences that they're craving by working with your vendors and brand partners to pass along this high quality image and video content and be able to display it across your site. 27:37 And while social UGC content isn't necessarily uniformly adopted across all marketplace PDPs, I would start to watch those content scorecards because more and more retailers are starting to add in content type because it's so powerful for driving that engagement and conversion. 27:53 And speaking of content scorecards, they are critical for brands to be able to understand why they currently rank where they do, and it helps to enable brands to improve their listings so that they can align more closely with what that retailer is wanting. 28:07 And this has proven to be especially important for brands at Walmart and Target. Excuse me. We typically see that hitting seventy percent on a content scorecard signifies high quality listings, which is great. 28:18 But it's at eighty percent where the listings start to really shine, and it really boosts visibility and sales performances on extremely competitive marketplaces. 28:26 So this is like your key to success. And George touched on it before, but I wanna reiterate, for any brand that's spending money on any media efforts to drive traffic and sales, sending traffic to a PDP with poor content is a waste of spend. 28:41 Period. Hard stop. Like, not even worth it. So make sure that you have those content foundations in place to get a better return on your media efforts. 28:49 And as a retailer, providing this clarity and feedback to your vendors and the brands selling on your marketplaces is a crucial step to be able to set them up for success. 28:57 And that's ultimately what we're all here for. That was a lot of information quickly. So I'm gonna do a quick recap as we come through. 29:06 Third party marketplaces are becoming more important in the ecommerce landscape. Now is the time to take the plunge. There's a variety of unique, marketplace alternatives. 29:15 You'll need to decide what your strategy should look like, whether you use a partner, somebody like like a pattern to ensure that this endeavor is simple and successful. 29:23 The initial challenge that comes with getting a new product launch can be avoided with incentivized reviews, quality UGCs, both things that BizarVoice is an expert at. 29:31 Finally, it's important for retailers and brands to recognize that they're on the same team and that by helping one another, both will find greater success. And lastly, I'd Doug had another great question. 29:42 If we had just a couple of third party marketplaces, where would you start? Walmart is the number two, you know, US ecommerce marketplace. I would absolutely look there. 29:51 Target is another one that's been an up and comer for us. And, again, I would look at product fit. Who is your customer demographics? And happy to happy to answer any questions afterwards as they make them up. 30:03 As as I mentioned before, Bazaarvoice and Pattern each bring a unique value to brands and retailers in the marketplace space. Pattern with our patented technology and team of experts is perfect for brands that want to expand into the third party marketplace world, helping you from the initial stage through the ongoing task of fulfilling orders. 30:19 Bazaarvoice has been able to help you collect reviews in UGC, amplify the content, distribute it across all marketplaces and sites. This boosts shopper confidence and in turn your product listing performance. 30:31 When you partner with both Bazaarvoice and Pattern, you experience the full synergy of our tools, and we'll see your marketplace ventures reach new levels of success. 30:40 Thank you. Couldn't have said it better myself. Thank you for joining us throughout the presentation and staying all the way through the end. We'll stay on for a little bit. 30:49 I know we're over time, but happy to stay on for any questions. Please feel free, feel free to continue adding them in the chat, and we'll make sure that we get those answered. Looks like I do see one new question jumping in here now. 31:01 Go ahead. Let's go to questions. Alright. I think, here, George. 31:14 There's one that just came through. Oh, I think you actually are we're exploring three p marketplaces, but I'm worried that our cannibalize. So you've addressed that already. It's really just having the right mix between the one part one p and three p strategy and making sure that you leverage tools that Pattern has like that map, to to ensure price stability. 31:32 And it is one that we didn't talk much about, but Pattern does offer the ability to look at the price point that other sellers are selling your products on marketplaces, estimate the volume whether they're selling at your map price or not so that you as a brand are able to make informed decisions on what actions to take and what the impact may be to your overall business. 31:52 So, again, happy to answer any questions around that, but it's something that we, using data, try to make sure that our brand partners are able to make those educated decisions. 32:02 Awesome. And I think we talked about this a little bit earlier, but, if you had to pick a couple of marketplaces to begin with, I think you gave those great recommendations. And then I think also just re readdressing on the if the product launch doesn't go as planned, I think having a strategy to garner those, pieces of content that are gonna be driving conversion ahead of time is really important. 32:21 So looking into incentivized, content, whether that be through sampling or other ways to make sure that you're addressing that cold start problem and you're not in that chicken or egg of, well, I don't have sales because I don't have reviews, and I don't have reviews because I don't have sales, is a really great strategy to work through. 32:36 Reviews are so critical there. Pricing, promotion, even item setup where it comes in. I think, Christine, you said it really well earlier. 32:44 If it's not if an item is not retail ready, it doesn't have a good content score, if it doesn't have the correct product type, if it doesn't have all of the attributes necessary to be successful, adding advertising is not gonna help our conversion. 32:58 It's just really throwing money away. And so that's where we focus first on that retail readiness. We could do a whole another session on retail readiness and all of the different dashboards and how marketplaces measure retail readiness differently, because everybody has their own viewpoint and algorithm on what retail readiness truly is. 33:18 So it is. There's another challenge. You can't rinse and repeat. The same strategy that works on one marketplace may not work on another. And so really using dialing into the category specific recommendations by marketplace is something that we recommend, but maybe that's for next time. 33:35 Well, George, it sounds like we have tons of content to be able to do. So hopefully, we can do a follow-up session, maybe a part two in the coming times, and hopefully, some of this audience can join us for the next time as well. 33:46 Any last thoughts before we, let people get about their day? No. I appreciate everybody's time dialing in and listening to a stock. Appreciate your viewpoints, Christine. 33:55 Always enlightening to hear what you guys are seeing from a review and user generated content perspective. Review syndication, I think it is so powerful. For brands considering marketplaces, I think now is the time. 34:06 We're seeing a lot of marketplaces that are really gaining steam. I think consumers are looking at other options. And again, it's good for brands to meet your buyers where they are, whether that's TikTok shops, whether that's Amazon, Walmart, Target, Macy's, Kohl's, Kroger. 34:21 You know, be where the buyers are is kind of the main message I would leave our brands with. That's awesome. Well, George, thank you so much. I'm so appreciative of our partnership. 34:29 And, hopefully, everyone joining today got to learn a little bit more how Bazaarvoice and Pattern can help and learned a bit of something new with marketplaces in general. 34:37 So thank you again so much for joining, and, we'll see you next time. Bye bye.
