Webinar: Social ROI - No Longer the Unicorn of E-Commerce

  • 789 views
Uploaded on

Everyone knows that trying to track down the ROI of social initiatives is difficult. Sure you can measure increasing numbers of “Fans” and “Tweets,” but ask 10 marketers what that is worth and you …

Everyone knows that trying to track down the ROI of social initiatives is difficult. Sure you can measure increasing numbers of “Fans” and “Tweets,” but ask 10 marketers what that is worth and you will likely get 10 different answers. Much like searching for a unicorn, many believe searching for true social ROI is impossible.

But things have changed. Today retailers like Teleflora, SKECHERS, Advance Auto Parts and thousands of others know that by linking social content and sharing directly to advanced business intelligence you can find the unicorn, by linking social activity to sales.

Join Danny Hsu, SEO and social analytics expert at PowerReviews to learn:

In this 45 minute webinar you will learn:

- How user generated content is proven to drive increases in sales

- How leading retailers are leveraging PowerReviews Social Measurement to link social activity directly to sales and traffic

- 3 social commerce tips to turn social activity into sales

More in: Technology , Business
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Be the first to comment
No Downloads

Views

Total Views
789
On Slideshare
0
From Embeds
0
Number of Embeds
0

Actions

Shares
Downloads
12
Comments
0
Likes
1

Embeds 0

No embeds

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
    No notes for slide
  • Hello and welcome. Thank you for taking time today to join us for this webinar. We have over 500 people registered, all interesting in finding that elusive unicorn, Social ROI.My name is Jessica Falarski and I’m a marketing coordinator here at PowerReviews.
  • Today’s speakers are Danny Shoe and Dave Hawley.Danny managed PowerReviews SEO For the past 5 years Danny Hsu has managed PowerReviews’ SEO and analytics products.Prior to PowerReviews Danny was a developer at SAP, working on their core enterprise software.We are pleased to have on the line with use Howard Blumenthal, Director of E-commerce Platform Solutions for the past 3 years at Advance Auto Parts. Howard overseas and manages the features, functions and business rules for both Advance Auto Parts B2C and B2B ecommerce sites and is well versed in optimizing the cross channel customer experience and corporate goals.
  • On today’s agenda:Danny will outline the what is social ROI and how you can link social content to conversion metrics.He will then jump into a live demo highlighting how retailers are linking social activity directly to sales and give three tipsthen Dave will give a brief overview of the PowerReviews social platform and lastly we will open up the forum to Q&A
  • Thanks Jessica and thanks to everyone on the call For many of you on this call today, you probably run a number of different social campaigns on facebook, twitter, linkedin, pinterest. You probably know how to track the number of likes, fans, tweets, but what do those vanity metrics really mean for your bottom line?let’s face it, the end goal is more traffic, conversions and sales. And Likes don’t equal sales. “Likes” don’t tap into any of the social conversations, questions and answers, and recommendations customers are sharing with each other.   To quote Ad Age “There may be no actual engagement at all beyond the fleeting moment of the click.” According to a recent Booz & Company survey, 71% of social networking users said “liking,” a company on Facebook would have no impact on their propensity to buy from that company. Social is changing the way customers interact, but social isn’t yet driving sales, and business fundamentals haven’t changed just yet.
  • Unicorn of E-commerce no longer. For the first time in history, you can now track the sales impact of Social programs.Today I will demonstrate how by linking social activity to conversion rates
  • What you want to track:Client ConversionClient Organic TrafficClient Search KeywordsUsers Engaging Reviews, Q&A, Discovery, LoyaltyESS Product Feature Usage on Client SitesWant to connect the social content and social engagement on the left to the metrics on the right. Why It's Important…Identify which social content and engagement correlates with conversionAnalyze how content generation influences organic trafficIdentify the best performing keywordsIdentify which users are most engaged with social contentTrack which ESS product features are performing
  • There are many types of social content out there. Today we are going to focus on Customer reviews and Q&A because that is social content that lives on a product detail page where the “buy now” or “add to cart” button is located.
  • Tracking beacon systemEnables tracking of products directly on the client siteClick tracking systemEnables tracking of product features and flowsCookie management systemEnables tracking of users across different productsReporting systemIntegrates with our existing BI platformHooks to other relevant data sourcesLinks other data from email providers, 3rd parties, etc.Data storage and processing
  • Introducing PowerReviews Essential Social Suite, the only solution to integrate the 3 key components of social success:- Powerful social content generation- Comprehensive social engagement - Robust social performance measurementWith PowerReviews Essential Social Suite, you get the power of integrated social content, engagement and measurement from a single vendor.  This means that content and engagement work together to drive traffic and sales, and that you can optimize social activity on your site with robust analytics. It all starts with the PowerReviews social content engine.  Social content is the fuel that drives the most valuable social benefits for your brand.  With PowerReviews, you can capture massive amounts of social content about your products, increasing both site traffic and revenue.  This social content--through its relevance, freshness, and sheer volume--makes you easier to find than your competition and turns more shoppers into buyers.Next, the PowerReviews social engagement layer enables you to further amplify that social content across the web.  You will encourage your customers to contribute and share more by rewarding helpful behavior and giving them the tools to connect with the community.And -- for the first time ever -- you can precisely measure the dollar impact of this social activity. E-commerce marketers can directly link Social to Sales. This enables you to optimize on-site social activity and drive more of what makes your ecommerce site successful: traffic, engagement and sales. This is how you turn social into sales for your site, not into just “Likes” for Facebook.
  • Constellation Research believes that by 2013, more than 50 percent of all social business initiatives will include an enterprise gamification component.PowerReviews Social Loyalty is designed to drive content creation.Applying gamification will drive customer behavior to create the social content and social shares that drive your site’s goals: traffic, engagement, conversions and sales.You can also drive content where it is needed most, filling coverage gaps and driving performance for under-performing products. You can also engage customers when they are not in the purchasing mode, to keep your brand top of mind.
  • PowerReviews integrates gamification and social content creation to align customers’ social activities with you site’s goalsBadging is the first step in the rewards systems, where your can provide customized badges to reward customers for taking action that increase content or engagement.Integrated site messaging will encourage further engagement will messages such as “Be the first to write a review for more points,” and “Be the first to answer a question for a distinct badge” As customers gain more points and badges, their accomplishments will be reflected on the leaderboard. The leaderboard will also encourage others to want to compete to move to the top of the list. The more your customers gain achievements, the more content your site gains.
  • PowerReviews easy-to-use, dashboard-driven management of Loyalty gives you the flexibility to determine points, badges, and incentivesAs it is integrated with Customer Reviews and Social Answers, you can quickly and easily make changes that drive better performance (i.e. engagement, content creation and ultimately sales)
  • On average, PowerReviews clients create 3x more content This results in 10 to 50% more organic traffic to your product pagesOur reviews also create the confidence that turns browsers into buyers.
  • Closely behind reviews, Q&A is the second most powerful influencer of conversion.When customers get answers to their key questions, they convert at a higher rate.PowerReviews Social Answers converts more customers by answering questions within 24 hours, the crucial time period that determines the success of turning browsers into buyersOur customers are seeing that answers are coming to customers on an average of 3 hours, during the crucial purchase decision period.
  • PowerReviews sophisticated work flow allows you create question queues that ensure you can triage question based on multiple parametersYou can route questions quickly to internal customer service or subject matter experts You can route by product, category or brandPowerReviews supports 3 ways to get products answeredInternal subject matter experts Ask product owners enables you to engage verified buyers to answer questionsCrowdsourced answers leverages cutting-edge technology to let individuals answer basic questions
  • Its well known that adding the “like button” to you site can increase Facebook referral traffic significantly.  According to Facebook, retailers that integrate see 2.4x in increase in referred traffic.With Social Discovery, your site will enable customers with an easy way to broadcast their social content and sharesto the social web, pushing your message to new audiencesYour site will enable customers to share reviews and ask their friends for advice through FacebookThis amplification of your content drives qualified traffic from the Social web to your site, but the benefits don’t stop there...
  • With Social Discovery, your customers will also self-select into targeted social campaigns covering topics in which they have expressed interestYour site will enable customers to follow reviewers and products, allowing you personalize content customers get in their Facebook streamAs their favorite reviewers post new content or new content is posted about preferred products, your customers will get this new content in their facebook feedThe high relevancy of the content ensures more clicks back to you site.
  • With PowerReviews follow a category feature, your customers can also choose to get daily updates on new and/or trending products Your high impact products, will be pushed out to a new audience, enabling you to push “hot,” products out to those who are most likely to want to learn more, ensuring more traffic back to your siteThis highly relevant social content is powered by our proprietary algorithm that chooses the most relevant message based on volume and recentness of social content createdPowerReviews flexible, sophisticated algorithm is customizable based on multiple client inputs and overrides, ensuring that your content is fresh and relevant, while giving you the ability to select the parameters to control the experience
  • PowerReviews Social Measurement Platform enables you, for the first time, to precisely measure the sales impact of social activity on your site. You will measure social traffic, engagement, and content generation and determine how they drive traffic, conversion, and sales on your site.Our powerful analytics engine, deeply integrated into social content and engagement layers, answers key questions such as: “Which type of social content creates the most organic traffic,”“Which type of engagement is most likely to drive a conversion?”A single, integrated platform means that social activity on your site can be measured and then optimized to drive traffic, conversion and revenue.
  • Basically, this bar chart illustrates that 8-12% of users post a review to Facebook.  The red line indicates the amount of revenue that these posts will generate by other users via Facebook traffic.  The x-axis is broken down by week.  The data table shows more details and illustrates the drop off at each funnel step. The Post to Facebook Revenue funnel shows the impact of posting a review to Facebook.  Starting with 2,000 reviews created per month, an average for PowerReviews clients, 10% of those get posted to Facebook.  On Facebook, the reviews receive on average 70x impressions per post, with a 3% click through rate to the product page and 3% of those purchase creating 12 orders @ $100 AOV, or $1,200 monthly.  Here's a quick overview of the math: 2000 reviews – 10% posted to Facebook – 70x impressions on Facebook - 3% click through rate to the product page - 3% convert creating 12 orders @ $100 AOV = $1200 monthly.   
  • PowerReviews expertise is developed over six years across 5500 brands, and our integrated suite enables our customers to outperform their competition. our 96% renewal rate, award winning technology, our proof of the performance that we provide to our customers everyday.

Transcript

  • 1. Social ROI: No Longer theUnicorn of E-commerce
  • 2. Today’s SpeakersDanny HsuSEO and Social AnalystDave HawleyProduct Marketing #SocialSales 2
  • 3. Today’s Webinar Agenda1. Path to Social ROI2. Live Demo3. Three Tips to Turn Social Activity into Sales4. PowerReviews Overview5. Q&A #SocialSales 3
  • 4. Likes Don’t Equal Sales #SocialSales 4
  • 5. #SocialSales 5
  • 6. Path to ROI Includes Metrics Social Content Conversions SocialEngagement Organic Traffic #SocialSales
  • 7. Many Types of Customer-generated ContentTypes of Social Content and Engagement Valued by Google • Customer Reviews • Google+ • Q&A • Facebook • Discussion Forums • YouTube • Twitter • Pinterest #SocialSales 7
  • 8. Nuts and Bolts – Technical Components • Tracking beacon system • Click tracking system • Business intelligence system • Hooks to other relevant data sources • Data storage and processing • Conversion tracking #SocialSales 8
  • 9. Live Demo #SocialSales 9
  • 10. Beacon Social Content on The Product Page to Track Usage and Interaction 10
  • 11. Business Intelligence Platform 11
  • 12. Customers Who Read Reviews Convert Higher and Spend More 12
  • 13. What’s Next – Sneak Peek1. How to drive conversion with Social Answers™2. How to improve SEO performance with Social Answers and Customer Reviews™3. How to drive referral traffic and conversion with social sharing4. How to increase conversion by enabling your customers to follow products and categories #SocialSales 13
  • 14. 3 Tips 3 Tips to turn social activity Into Sales to Turn Social Activity Into Sales Beacon areas of social activity and sales Link data into business intelligence system Optimize social content and engagement to drive more value #SocialSales 14
  • 15. Turn Social into Sales with PowerReviews’ Essential Social Suite™The only solution tointegrate the 3 keycomponents of socialsuccess:• Social content• Social engagement• Social measurementUse proven socialtechniques to drivesales where it matters. #SocialSales 15
  • 16. Social Loyalty Amplifies Content Creation Through Gamification Social Content #SocialSales 16
  • 17. Integrated Gamification & Content Drives PerformanceThank you for your review Thank you for answer You earned 10 points! You’ve earned the Life Saver badge. #SocialSales 17
  • 18. Integrated Social Loyalty That’s Easy to Manage Social Loyalty Customer Social Reviews Answers #SocialSales 18
  • 19. Customer Reviews Attract & Convert Customers3X 10-50% 14% Social more increase inContent organic site traffic conversion #SocialSales 19
  • 20. Fast Social Answers Drive Conversions Does this shoe Yes, all shoes come in kids’ are available sizes? kids’ sizes. Asked on 12/20/2011 Answered on 12/20/2011 8:31 am 11:15 am Checkout #SocialSales 20
  • 21. Flexible Work Flow Queues Ensure Answers are Created Quickly Expert Verified A: Yes, allQ: Does this Buyer shoes areshoe come in available inkids’ sizes? kids’ sizes. Crowdsource #SocialSales 21
  • 22. Social Discovery Amplifies Product Content to Create Traffic YOUR SITE Nikon is a Should I buy great camera! this Nikon Camera from Staples? #SocialSales 22
  • 23. Social Discovery Increases Content Relevancy and Engagement #SocialSales 23
  • 24. Trending Product Updates Keep Social Users Engaged & Clicking #SocialSales 24
  • 25. Integrated Social Measurement™ Provides Actionable Analysis Optimize Social To Drive Sales Measure the increase in traffic from social activity Track the impact of social activity on conversion #SocialSales 25
  • 26. Link Social Activity To Sales #SocialSales 26
  • 27. PowerReviews is the Social Performance Company 5,500 Brands 96% Renewal Rate 27M Pieces of Social Content Award Winning Technology #SocialSales 27
  • 28. Q&AThank you for attending.For a live demo,please call: (866) 345-1461or email: info@powerreviews.comFor more information on PowerReviewsEssential Social Suite, please visit: www.PowerReviews.com #SocialSales 28