4 Tips to Drive Sales with Social's Secret Weapon

Social’s Secret Weapon:4 Tips to Drive Sales11/30/2011

Today’s Speakers Timothy Lakin Mark BakerE-commerce Merchandising Manager Customer Success Manager 2

Webinar Agenda 1. State of Social Commerce 2. Social Buying Cycle 3. Benefits of Customer Q&A 4. 4 Tips to Sell more with Q&A 5. Q&A on Q&AFollow along on #SocialSecret 3 #SocialSecret

Social programming drives to a range of business outcomes… Social Social Social SocialBrand & Marketing Commerce Support Insights5 © 2011 Forrester Research, Inc. Reproduction Prohibited 5 #SocialSecret

...deployed to drive the intended performance Social Social Social Social Brand & Marketing Commerce Support Insights Understand and Drive sales through interpret theObjective Brand reputation Reduce costs by customer collective voice to letting customers conversation, joint drive brand, Marketing awareness assist other in buying, or game merchandising, and answering support Engagement dynamics product questions development decisions Brand Strength & Traffic Customer Actionable Stature Product levelMetric Conversion Satisfaction insights Awareness Cost to Serve Cross Sell/Up Sell Actionable Brand Customer level insights Acquisition Average Order Business Case Emerging Exists Exists Emerging 6 © 2011 Forrester Research, Inc. Reproduction Prohibited 6 #SocialSecret

Consumers are researching now, morethan everWhat percent of your overall shopping involves researching products online? 50% 75% or more 21% 29% 50-74% 29% 15% 30-49% 24% 13% 15-29% 17% 8% 1-14% 8% 2011 None 0% 2010 1% 7 #SocialSecret

Q&A is the second most used tool in consumer research Please indicate the impact of the following Community and Social tools on your buying behavior. (Top-2: significant/good impact) Customer reviews (user-generated product reviews) 59% Q&A (customers asking and answering questions about 42% products on-site) Community forums (for conversations among 26% customers or between you and other customers) Videos (viewing user-generated videos or creating your 15% own) Facebook fan page (company fan page on Facebook) 13% Facebook newsfeed (friends talking about products) 13% Mobile (iPhone application, text alerts) 9% Twitter (monitor, respond to, and post tweets) 9%Q6 8 #SocialSecret

In an ideal world... I’m ready to buySKECHERS’ XYZ shoes $ $ right now $ $ 9 #SocialSecret

In reality. Are these shoes $ I’m ready to buy new good for jogging?shoes, but am not sure $ which ones ? $ $ 10 #SocialSecret

Supplement standard product info with the Top Social Tools Standard Product Info 1. Product Image 1 3 2. Product Description 3. Price 4 4. Availability 2 User-Generated Content 1. Customer Reviews 2. AnswerBox Q&A11 © 2011 Forrester Research, Inc. Reproduction Prohibited 11 #SocialSecret

Customers can ask a question aboutproducts before making a purchase Are these shoes good for hiking? 12 #SocialSecret

The Q&A Buying Cycle Are theseshoes good Your question for hiking? has been $ answered! $ ? $ 13 #SocialSecret

Why Customer Q&A? Timothy Lakin E-commerce Merchandising Manager 14 #SocialSecret

1Improve SEO 15 #SocialSecret

Questions improve keyword density with long tail user-generated phrasesKeyword rich copy on theproduct page, provided byyour customers16 © 2011 Forrester Research, Inc. Reproduction Prohibited 16 #SocialSecret

2 Decrease SupportCosts with a Living FAQ 18 #SocialSecret

Address Safety Concerns Ahead of Time “Has anyone reported accidents or injuries using the Bella Ballerina with the spinning disk?”20 © 2011 Forrester Research, Inc. Reproduction Prohibited 20 #SocialSecret

3 Supercharge marketing andmerchandising copy and creative 21 #SocialSecret

4Increase Conversion 25 #SocialSecret

Give answers to their questions ahead oftime and the confidence to buy 26 #SocialSecret

Without adequate product info, your customerswill be forced to bounce and look elsewhere 27 #SocialSecret

SKECHERS Results  30% Conversion Increase for products with Q&A  80% Open Rate of answer notification email  50% Conversion Rate from answer notification email  Increased time spent on site  Decreased bounce rate 28 #SocialSecret

4 Tips to Drive Sales with Q&A1. Make sure your Q&A content is fresh and indexable by search engines2. Decrease call center cost by updating your product descriptions with answers to frequently asked questions3. Supercharge your marketing and integrate the customers voice into your marketing mix4. Increase conversion rates by giving customers the answer they need to make an informed purchase 29 #SocialSecret

PowerReviews’ AnswerBox Q&A 10-40% Increase in conversion rates for products with Q&A 300% Increase on CTR for Answer Notification Email 30% Reduction in Customer Support CostsContact info@powerreviews.com or visit powerreviews.com 30 #SocialSecret

Thank you.Thanks for attending. Please take amoment to complete our brief surveyupon leaving the webinar.Today’s Speakers:Tim Lakin Mark Baker 31 #SocialSecret

4 Tips to Drive Sales with Social's Secret Weapon

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