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Stronger together: The new reality of consumers, brands & retailers united | Bazaarvoice Summit 2014

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See how a top retailer opened up communication with brands and customers - and created a shopping experience to compete with online giants like Amazon.

See how a top retailer opened up communication with brands and customers - and created a shopping experience to compete with online giants like Amazon.

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  • External Situation

    Consumer Expectations are ever growing. Their access to information is increased and brands and retailers need to provide it quicker and in their channel of choice.

    Retailer Sites benefit from having robust interactive solutions
  • Internal Situation

    3M brands ultimate need to advance product sell-through

    3M needs to reach consumers at POS. Our touch points with the consumer on the retailer.com site are limited. 3M does not sell direct so need to partner closely with retailers whenever possible.

    With the purchase cycle so disrupted we need to influence the consumer at all touch points
  • Brand Answers as the solution

    Serving our Consumers
    We can provide hands on assistance, make our product information easily accessible (doesn’t have to navigate to other resources)
    Brand Answers facilitate community dialogue and consumer experts and advocates

    Serving our Channel Partners
    Let us help you drive the sale and even up-sell or cross-sell

    Let us do what we do best – we know our product and have answers at the ready. No need for retailer to build out this layer of service
  • Brand Answers as the solution

    Serving our Consumers
    We can provide hands on assistance, make our product information easily accessible (doesn’t have to navigate to other resources)
    Brand Answers facilitate community dialogue and consumer experts and advocates

    Serving our Channel Partners
    Let us help you drive the sale and even up-sell or cross-sell

    Let us do what we do best – we know our product and have answers at the ready. No need for retailer to build out this layer of service
  • Leveraging 3M Operations

    We’ve built a Customer Service center of excellence and robust/accountable process
    “A good recovery process can turn angry, frustrated members into loyal ones. It can create more goodwill than if things had gone smoothly in the first place.”
    Takes product and service experts and connects them users in time of need. Provide product demos, custom image answers, how-to’s and seamless integration into 3M knowledge base

    Provides additional data points for brands
    Product feedback/consumer needs, contribute to the R&D pipeline,
    Data sync and product attributes in online catalogue
  • Leveraging 3M Operations

    We’ve built a Customer Service center of excellence and robust/accountable process
    “A good recovery process can turn angry, frustrated members into loyal ones. It can create more goodwill than if things had gone smoothly in the first place.”
    Takes product and service experts and connects them users in time of need. Provide product demos, custom image answers, how-tos and seamless integration into 3M knowledge base

    Provides additional data points for brands
    Product feedback/consumer needs, contribute to the R&D pipeline,
    Data sync and product attributes in online catalogue
  • Transcript

    • 1. #bsocial14 Stronger together: The new reality of consumers, brands & retailers united Julia McCullough
    • 2. Confidential and Proprietary. © 2014 Bazaarvoice, Inc.2 Retail websites are the #2 place consumers search to research products, often before going to the store or while in-store, second only to search engines1 84% 70% of consumers research online before buying a product online or in-store1 of consumers say they look at reviews before making a purchase2 1 Google Shopper Marketing Council 2 Bazaarvoice Analytics, 2012 New Shopping Realities
    • 3. Confidential and Proprietary. © 2014 Bazaarvoice, Inc.3 $0 $500 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500 $4,000 2011 2012 2013 2014 2015 2016 Online retail sales Web influenced offline spending Non web influenced offline retail sales $1,572 $1,707 $1,987 $1,856 Forrester forecasts that in 2015, Web Only and Web Influenced sales will surpass Non-Web Influenced retail sales4 4 Forrester US Cross-Channel Retail Forecast, 2011-2016 $1,672 $1,723 $1,741 $1,771 $1,780 $1,812 $1,103 $1,206 $1,320 $1,429 $1,552 $1,660 $202 $226 $252 $278 $304 $327 $1,305 $1,432 Every $1 a consumer spends online influences $5.24 offline1
    • 4. “Be where the Member is headed, not where they’ve already been” Doug McMillon – President & CEO Wal-Mart Stores
    • 5. Creating Today’s Sale • Answering key questions leads to sales • Sharing the "voice" of prior buyers with today's shoppers • Providing service & responsiveness is unusual in today's marketplace
    • 6. Informing and Enabling Tomorrow’s Sale • Leverage insights from reviews and Q&A • Example: Holiday Season Program & Chosen By Program
    • 7. #bsocial14 Stronger together: The new reality of consumers, brands & retailers united Claire Spinti
    • 8. Consumer Expectations are ever growing 89% of consumers find internet channels trustworthy sources and will see online information to verify product recommendations from friends and family 86% of consumers would buy more from a web site that offers strong Ratings & Reviews feature 63% of consumers said it was very valuable for a web site to provide a strong selection of Ratings & Reviews
    • 9. 3M needs to advance product sell-through in a disruptive purchase cycle The Loyalty Loop EVALUATE Consider ADVOCATE Bond Enjoy Buy Trigger
    • 10. Call Center Word of Mouth In-Store Packaging Website Email Brand Answers Allows Us to Serve Our Consumers
    • 11. Brand Answers Allows Us to Serve Our Channel Partners
    • 12. Built a Customer Service Center of Excellence “A good recovery process can turn angry, frustrated members into loyal ones. It can create more goodwill than if things had gone smoothly in the first place.”
    • 13. Additional Data for Brands This data directly and immediately impacts our: Channel Brand Research & Development
    • 14. #bsocial14 Thank you!

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