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CONSUMER TRENDS THAT ARE SHAPING
THE RETAIL AND SHOPPER EXPERIENCES
JESSICA RESER OSBORN
ENTERPRISE CLIENT SUCCESS
@JRESE
Confidential and Proprietary. © 2015 Bazaarvoice, Inc.1
Experience and access to info
Consumers have unlimited information at their fingertips
@jrese @bazaarvoice#IRC15
“By 2016, the web
will influence more
than half of all retail
transactions”
-McKinsey & Co
The New Consumer Decision Journey
The Loyalty Loop
CONSIDER EVALUATE
ADVOCATE
BUYBOND BUYBOND
ADVOCATE
@jrese @bazaarvoice#IRC15
3 ERAS OF CONSUMER EXPECTATIONS
Meets Needs Convenient
Frictionless
Relationship
@jrese @bazaarvoice#IRC15
How businesses
respond…
The only constant is
change
@jrese @bazaarvoice#IRC15
THE SUBSCRIPTION ECONOMY
@jrese @bazaarvoice#IRC15
Source:ZuoraSubscribed2015
“Compare The
Market is top
performing
financial brand
on social media”
-eConsultancy
#IRC15 @jrese @bazaarvoice
CULTURAL CHANGE REQUIRED
Source:MarkSteel“ConnectingChannelsforaSeamlessCustomerExperience”Bazaarvoice
Summit2015
@jrese @bazaarvoice#IRC15
DELIVER A RETURN ON DATA
@jrese @bazaarvoice#IRC15
BRIDGE
OFFLINE
AND
ONLINE
@jrese @bazaarvoice#IRC15
Online
In Store
Print
TRULY
MULTICHANNEL
1. Innovate your business model
2. Bring your brand to life
3. Transform your company culture
4. Deliver a return on data
5. Fuse online and offline
5 NEW IMPERATIVES FOR BUSINESS
#IRC15 @jrese @bazaarvoice
WHERE TO BEGIN?
CULTIVATE A RESPONSIVE DIALOGUE
Virgin Media’s Social Media Care team Sony store puts a larger emphasis on customer reviews.
Dominos Order Tracker Clarksstyle.com
Confidential and Proprietary. © 2014 Bazaarvoice, Inc.16
Type
Does the content
influence all of your
consumers?
Volume
Do you have enough
of the right content?
Reach
Are you getting
content to all the
right people at the
right time?
Insights
Are you seeing
results and learning
about your
customers?
c
Our approach to winning consumer trust
Confidential and Proprietary. © 2014 Bazaarvoice, Inc.17
Our approach to winning consumer trust
Type
Will the content
influence consumers?
Volume
Do you have enough of
the right content?
Reach
Can you get content to
the right places?
Insights
How do you measure
and improve?
c
• Empirical
• Rational
• Solicited
• Detailed
• Emotive
• Spontaneous
• Unsolicited
• Bite-sized
Logical Emotional
@jrese
FEED BOTH
THE LEFT
AND THE
RIGHT BRAIN
@jrese
Confidential and Proprietary. © 2014 Bazaarvoice, Inc.21
Our approach to winning consumer trust
Type
Will the content
influence consumers?
Volume
Do you have enough of
the right content?
Reach
Can you get content to
the right places?
Insights
How do you measure
and improve?
c
Confidential and Proprietary. © 2014 Bazaarvoice, Inc.22
CGC Volume increases conversion
*BV: Conversation Index 8
Confidential and Proprietary. © 2015 Bazaarvoice, Inc.23
260+
6,400+
60+
Questions asked
in the first week
Submitted
(61 per day)
Brand Invite
registrations after
the first invitation
 Points for Contribution
 Top contributor ranking accessible on the community page
Probikeshopezvous
Confidential and Proprietary. © 2014 Bazaarvoice, Inc.24
Our approach to winning consumer trust
Type
Will the content
influence consumers?
Volume
Do you have enough of
the right content?
Reach
Can you get content to
the right places?
Insights
How do you measure
and improve?
c
Consumer trendsshappingretailandshopperexperience
Confidential and Proprietary. © 2015 Bazaarvoice, Inc.26
Leverage CGC higher in the funnel
VS
Average Rating Only Ratings and Reviews
+21% CTR
Confidential and Proprietary. © 2014 Bazaarvoice, Inc.27
Our approach to winning consumer trust
Type
Will the content
influence consumers?
Volume
Do you have enough of
the right content?
Reach
Can you get content to
the right places?
Insights
How do you measure
and improve?
c
QUICKLY ACT ON WANTS
AND NEEDS REVEALED
THROUGH FEEDBACK
Source: myboysandtheirtoys.com
Confidential and Proprietary. © 2015 Bazaarvoice, Inc.29
If it smells like a duck…
Average rating improved
from 1 to 5 stars
Significantly more sales by
improving the product
Turned dissatisfied customers
into real fans
Confidential and Proprietary. © 2014 Bazaarvoice, Inc.30
Type
Does the content
influence all of your
consumers?
Volume
Do you have enough
of the right content?
Reach
Are you getting
content to all the
right people at the
right time?
Insights
Are you seeing
results and learning
about your
customers?
c
Our approach to winning consumer trust
1. Consumer Decision Journey & 3 Eras of Customer Expectation
2. 5 Business Imperatives
3. Consumer Generated Content Framework: Type, Reach, Volume and Insights
SUMMARY
QUESTIONS?
@JRESE

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Consumer trendsshappingretailandshopperexperience

  • 1. CONSUMER TRENDS THAT ARE SHAPING THE RETAIL AND SHOPPER EXPERIENCES JESSICA RESER OSBORN ENTERPRISE CLIENT SUCCESS @JRESE
  • 2. Confidential and Proprietary. © 2015 Bazaarvoice, Inc.1 Experience and access to info Consumers have unlimited information at their fingertips @jrese @bazaarvoice#IRC15 “By 2016, the web will influence more than half of all retail transactions” -McKinsey & Co
  • 3. The New Consumer Decision Journey The Loyalty Loop CONSIDER EVALUATE ADVOCATE BUYBOND BUYBOND ADVOCATE @jrese @bazaarvoice#IRC15
  • 4. 3 ERAS OF CONSUMER EXPECTATIONS Meets Needs Convenient Frictionless Relationship @jrese @bazaarvoice#IRC15
  • 5. How businesses respond… The only constant is change @jrese @bazaarvoice#IRC15
  • 6. THE SUBSCRIPTION ECONOMY @jrese @bazaarvoice#IRC15 Source:ZuoraSubscribed2015
  • 7. “Compare The Market is top performing financial brand on social media” -eConsultancy #IRC15 @jrese @bazaarvoice
  • 9. DELIVER A RETURN ON DATA @jrese @bazaarvoice#IRC15
  • 12. 1. Innovate your business model 2. Bring your brand to life 3. Transform your company culture 4. Deliver a return on data 5. Fuse online and offline 5 NEW IMPERATIVES FOR BUSINESS #IRC15 @jrese @bazaarvoice
  • 14. CULTIVATE A RESPONSIVE DIALOGUE Virgin Media’s Social Media Care team Sony store puts a larger emphasis on customer reviews. Dominos Order Tracker Clarksstyle.com
  • 15. Confidential and Proprietary. © 2014 Bazaarvoice, Inc.16 Type Does the content influence all of your consumers? Volume Do you have enough of the right content? Reach Are you getting content to all the right people at the right time? Insights Are you seeing results and learning about your customers? c Our approach to winning consumer trust
  • 16. Confidential and Proprietary. © 2014 Bazaarvoice, Inc.17 Our approach to winning consumer trust Type Will the content influence consumers? Volume Do you have enough of the right content? Reach Can you get content to the right places? Insights How do you measure and improve? c
  • 17. • Empirical • Rational • Solicited • Detailed • Emotive • Spontaneous • Unsolicited • Bite-sized Logical Emotional @jrese
  • 18. FEED BOTH THE LEFT AND THE RIGHT BRAIN @jrese
  • 19. Confidential and Proprietary. © 2014 Bazaarvoice, Inc.21 Our approach to winning consumer trust Type Will the content influence consumers? Volume Do you have enough of the right content? Reach Can you get content to the right places? Insights How do you measure and improve? c
  • 20. Confidential and Proprietary. © 2014 Bazaarvoice, Inc.22 CGC Volume increases conversion *BV: Conversation Index 8
  • 21. Confidential and Proprietary. © 2015 Bazaarvoice, Inc.23 260+ 6,400+ 60+ Questions asked in the first week Submitted (61 per day) Brand Invite registrations after the first invitation  Points for Contribution  Top contributor ranking accessible on the community page Probikeshopezvous
  • 22. Confidential and Proprietary. © 2014 Bazaarvoice, Inc.24 Our approach to winning consumer trust Type Will the content influence consumers? Volume Do you have enough of the right content? Reach Can you get content to the right places? Insights How do you measure and improve? c
  • 24. Confidential and Proprietary. © 2015 Bazaarvoice, Inc.26 Leverage CGC higher in the funnel VS Average Rating Only Ratings and Reviews +21% CTR
  • 25. Confidential and Proprietary. © 2014 Bazaarvoice, Inc.27 Our approach to winning consumer trust Type Will the content influence consumers? Volume Do you have enough of the right content? Reach Can you get content to the right places? Insights How do you measure and improve? c
  • 26. QUICKLY ACT ON WANTS AND NEEDS REVEALED THROUGH FEEDBACK Source: myboysandtheirtoys.com
  • 27. Confidential and Proprietary. © 2015 Bazaarvoice, Inc.29 If it smells like a duck… Average rating improved from 1 to 5 stars Significantly more sales by improving the product Turned dissatisfied customers into real fans
  • 28. Confidential and Proprietary. © 2014 Bazaarvoice, Inc.30 Type Does the content influence all of your consumers? Volume Do you have enough of the right content? Reach Are you getting content to all the right people at the right time? Insights Are you seeing results and learning about your customers? c Our approach to winning consumer trust
  • 29. 1. Consumer Decision Journey & 3 Eras of Customer Expectation 2. 5 Business Imperatives 3. Consumer Generated Content Framework: Type, Reach, Volume and Insights SUMMARY

Editor's Notes

  1. The world has changed as a result of consumers having unlimited access to information on their smart phones. With all of this marketing noise and choice in information, they are less likely to believe when every brand says they are ‘the best’, ‘the newest’, ‘the fastest’....   This has resulted in consumers losing trust in advertising. Q: Have you seen this with your consumers?
  2. We create more data than ever before. I know this because my phone keeps reminding me that I have taken too many pictures of my baby daughter. We call this consumer generated content. Beyond smart phones we are starting to see the rise of smart devices. We are losing patience. When we want something, 24 hours is too long to wait for a product 15 min is too long to wait for a cab. We have come to expect that the companies we do business with know us. My husband and I get our groceries from HelloFresh who deliver recipes all the ingredients you need to make them. Amazing right?
  3. Anthony Fletcher | CEO, Graze -consumers want an outcome not a product -
  4. *Changed to Waitrose example From Lisa: “Lame image. Not progressive.” She feels like all these people images look the same – a person with a phone. She doesn’t want any pics like that basically.
  5. Across the Bazaarvoice network, mobile shoppers who view CGC convert 133% more;
  6. *Added slide
  7. *changed text & screenshots She wants something here that illustrates communication between the manufacturer and the customer, but doesn’t look like a stock photo of two people talking. I’m struggling to offer a recommendation on this one, I’m sorry!
  8. As consumers have changed over that time, we have evolved our approach to consumer confidence to focus on 4 key areas to help our clients win: Type of content- will the content influence consumers? Volume of content- do you have enough of the right content to create relevance? Reach of that content- can you get the content in front of consumers? Insights from that content- how do you measure and improve?
  9. As consumers have changed over that time, we have evolved our approach to consumer confidence to focus on 4 key areas to help our clients win: Type of content- will the content influence consumers? Volume of content- do you have enough of the right content to create relevance? Reach of that content- can you get the content in front of consumers? Insights from that content- how do you measure and improve?
  10. Ratings and Reviews, photos and videos, opinions on the local dealer or brand experience; framed in the voice of “people like me” is what gives them the confidence to buy.   Our most successful clients give them everything they need whether reviews, photos, videos, answers, to help them rationalize their decision and to help influence future buyers.   
  11. We like to think of this new kind of content as the perfect compliment to ratings and reviews, which can be more detailed, technical, or specific – like the left brain – vs social content which connects more with your emotions and your heart – more like the right brain.
  12. *Added UK reviews from chubby stick but merged with US pictures @ top
  13. As consumers have changed over that time, we have evolved our approach to consumer confidence to focus on 4 key areas to help our clients win: Type of content- will the content influence consumers? Volume of content- do you have enough of the right content to create relevance? Reach of that content- can you get the content in front of consumers? Insights from that content- how do you measure and improve?
  14. As consumers have changed over that time, we have evolved our approach to consumer confidence to focus on 4 key areas to help our clients win: Type of content- will the content influence consumers? Volume of content- do you have enough of the right content to create relevance? Reach of that content- can you get the content in front of consumers? Insights from that content- how do you measure and improve?
  15. When the voice of the customer becomes the key element of a contextual online marketing strategy Request to use the API (access to +167,000 reviews) Rules defined (> 3 Stars products) 2 separate campaigns with Next Perf
  16. As consumers have changed over that time, we have evolved our approach to consumer confidence to focus on 4 key areas to help our clients win: Type of content- will the content influence consumers? Volume of content- do you have enough of the right content to create relevance? Reach of that content- can you get the content in front of consumers? Insights from that content- how do you measure and improve?
  17. Please replace image with SKECHERS shoes.
  18. Find another story -
  19. As consumers have changed over that time, we have evolved our approach to consumer confidence to focus on 4 key areas to help our clients win: Type of content- will the content influence consumers? Volume of content- do you have enough of the right content to create relevance? Reach of that content- can you get the content in front of consumers? Insights from that content- how do you measure and improve?
  20. *Added slide
  21. From Lisa: “Show rewards visually.” Maybe a catalogue with pictures that don’t look super professional? Look more like what someone might post on Instagram. Like Urban Outfitters.