#bsocial14
Stronger together: The new reality of
consumers, brands & retailers united
Julia McCullough
Confidential and Proprietary. © 2014 Bazaarvoice, Inc.2
Retail websites are the #2 place
consumers search to research
prod...
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...
“Be where the Member
is headed, not where
they’ve already been”
Doug McMillon – President & CEO Wal-Mart Stores
Creating
Today’s Sale
• Answering key questions
leads to sales
• Sharing the "voice" of
prior buyers with today's
shoppers...
Informing and Enabling
Tomorrow’s Sale
• Leverage insights from
reviews and Q&A
• Example: Holiday
Season Program &
Chosen...
#bsocial14
Stronger together: The new reality of
consumers, brands & retailers united
Claire Spinti
Consumer Expectations are ever growing
89% of consumers find internet channels trustworthy
sources and will see online inf...
3M needs to advance product sell-through in a
disruptive purchase cycle
The Loyalty Loop
EVALUATE
Consider
ADVOCATE
Bond
E...
Call Center
Word of
Mouth
In-Store
Packaging
Website Email
Brand Answers Allows Us
to Serve Our Consumers
Brand Answers Allows Us to
Serve Our Channel Partners
Built a Customer Service Center of Excellence
“A good recovery process
can turn angry, frustrated
members into loyal ones....
Additional Data for Brands
This data directly
and immediately
impacts our:
Channel
Brand
Research &
Development
#bsocial14
Thank you!
Upcoming SlideShare
Loading in …5
×

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

637 views

Published on

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

  • Be the first to comment

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

  1. 1. #bsocial14 Stronger together: The new reality of consumers, brands & retailers united Julia McCullough
  2. 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. 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. 4. “Be where the Member is headed, not where they’ve already been” Doug McMillon – President & CEO Wal-Mart Stores
  5. 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. 6. Informing and Enabling Tomorrow’s Sale • Leverage insights from reviews and Q&A • Example: Holiday Season Program & Chosen By Program
  7. 7. #bsocial14 Stronger together: The new reality of consumers, brands & retailers united Claire Spinti
  8. 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. 9. 3M needs to advance product sell-through in a disruptive purchase cycle The Loyalty Loop EVALUATE Consider ADVOCATE Bond Enjoy Buy Trigger
  10. 10. Call Center Word of Mouth In-Store Packaging Website Email Brand Answers Allows Us to Serve Our Consumers
  11. 11. Brand Answers Allows Us to Serve Our Channel Partners
  12. 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. 13. Additional Data for Brands This data directly and immediately impacts our: Channel Brand Research & Development
  14. 14. #bsocial14 Thank you!

×