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To start off this presentation I want to show you the results from one of our content quality indexes. It will help showcase why search experience and quality content is so important to marketplace success.
Here is the quality score for 3 of the top sites in 3 of the bottom 3 companies in our index.
Here are the bounce rates for those same 6 companies.
Here are the time on site
and page views.
The keen observer will have noticed a trend.
Individually these stats may not say much, but together they paint a picture.
High quality on site result in engaged users.
When it comes to online marketplaces, content quality and search experience are tied together to such an extent that bad quality quickly destroys the user experience and your conversion rate.
After my presentation most of you will have some good ideas for low hanging fruits you can resolve with content moderation to improve user experience and conversion, but before I spill the beans I'd like to start with a fun game we sometimes play at Besedo. It's called guess the category. I'd like you to take a look at the "charger" pictured here then tell me which category it should belongs in. Raise your right arm if you think it goes under electronic and your left arm if you think it fits into the mobile phone category. Raise neither if you think it fits elsewhere. Congratulations. You are as confused as your users. This is one of the commonly miss categorized items.
But it's not the only item users miss-categorize, every month 15% of the listings we reject are due to being posted in the wrong category.
Here is the top 5 refusal reasons for all the listings we handle for online marketplaces. Note that except for the 3rd these are all elements that directly impact your users abilities to find what they are looking for. Clocking up search results with irrelevant results. Hampering conversion and upping bounce rate.
It isn't just categories that are miss-used. In a mystery-shopping study we performed last month, we found that when searching for an iPhone 7, 4% of the results were not actually the phone.
For Gucci bags that number jumped to 15% and that’s excluding fakes, scams and counterfeit. We’ll return to the latter later in this presentation.
These results are consistent with a qualitative study we did in 2017 where 100% of the participants found irrelevant items in their search results.
All of them expressed annoyance about the messy search results.
What do you think this level of frustration does to conversion and bounce rates? Particularly considering that studies show that users will bounce if they don’t find what they are looking for within 10 seconds
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(N/N Group concluded their article by suggesting that “bad” websites would be abandoned in the first 10 seconds) https://www.nngroup.com/articles/how-long-do-users-stay-on-web-pages/
Furthermore the Microsoft used the Weibull distribution theory to state that 99% of all websites are susceptible to negative aging. Meaning Users screen and glean and if they don't find anything within the first 5 seconds, the most likely bounce. If however, a website passes the skimming test users are more likely to stay longer.
Do your search results pass the skimming test?
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http://www.eyequant.com/blog/2013/04/08/how-many-seconds-does-your-website-have-to-capture-user-attention 99% websites are susceptible to negative aging. Users screen and glean. If a website passes the skimming test users are more likely to stay longer. Does your search results pass the skimming test?
When it comes to search experience irrelevant content is one of the biggest villains.
In a study we did on user behavior only 20% would buy the product in an ad with poor description and 73% were unlikely to return to the site. Compared to 56% and 37% for a good listing.
In a qualitative study we performed in 2017 100% of participants encountered irrelevant content. The ramifications of that is huge. Bounce rate, return visitors, conversion.
Think about it, fixing search experience could potentially up your conversion rate with 280% and half your churn.
But even when results match query the search experience can be ruined. In our mystery shopping study 43.19% of the first page results for Gucci bag were counterfeits. Best case scenario your users are able to navigate that luxury goods minefield without losing trust in your site, worst case they buy one of the fakes.
The fact that we found a lot of counterfeit Gucci bags, sadly wasn't very surprising to us. When it comes to counterfeits bags is the number one target. Here is a list of the top 3 fake products we encounter when moderating content:
Bags
Smartphones
Watches and shoes
Sometimes even listings by genuine users can have a negative impact on the search experience. At the end of our qualitative study we asked our participants to pick their favorite site and give the reason why. Unanimously they picked quality images as the reason to prefer one site over another. [New slide] It's then very unfortunate that when we did our mystery shopping study almost 10% (8.8%) of the iPhone 7 ads had either poor/missing or catalogue pictures. It doesn't get better when we look at another big content quality offense committed by genuine users.[New slide] On the first page of search results for iPhone 7 we found that 19% were duplicates [illustrate in slide with 10 pics where 2 are the same]
And the impact is tangible in our user experience study 75% of participants found duplicate posts
[add slide illustration]"I see that there are some of them that are duplications or where the images are duplications so I won't click on them" (Louise 1.25 part 3)
It's then very unfortunate that when we did our mystery shopping study almost 10% (8.8%) of the iPhone 7 ads had either poor/missing or catalogue pictures. It doesn't get better when we look at another big content quality offense committed by genuine users.[New slide] On the first page of search results for iPhone 7 we found that 19% were duplicates [illustrate in slide with 10 pics where 2 are the same]
And the impact is tangible in our user experience study 75% of participants found duplicate posts
[add slide illustration]"I see that there are some of them that are duplications or where the images are duplications so I won't click on them" (Louise 1.25 part 3)
On the first page of search results for iPhone 7 we found that 19% were duplicates [illustrate in slide with 10 pics where 2 are the same]
And the impact is tangible in our user experience study 75% of participants found duplicate posts
[add slide illustration]"I see that there are some of them that are duplications or where the images are duplications so I won't click on them" (Louise 1.25 part 3)
And the impact is tangible in our user experience study 75% of participants found duplicate listings
Looking bad so far? We haven't even touched on the worst experience a user can have on your site. Any guesses? Not finding what they want is of course bad, but it's even worse when they find what they want and realize that's it's a scam and even worse if they don't realize it.
A study we did on user behavior we showed that 75% of users who saw a scam on a site would not return.
In our user search study 50% encountered something they thought was a scam.
With these numbers in mind you are potentially loosing 38% of your visitors just because of scams. (50%x75%=37,5%)
I'll give you a second to translate that into lost revenue for your own site.
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Depending on your monthly visitors and your conversion rates that will of course have different impact, but let's pick our top site from the index Kijiji.ca According to Similarweb they have 15.9m unique monthly visitors. The average conversion rate for ecommerce is 3% http://www.smartinsights.com/ecommerce/ecommerce-analytics/ecommerce-conversion-rates/ (15.9mx3% = 477000) and the average order value is 65 Euro https://www.bigcommerce.com/blog/the-3-most-important-e-commerce-benchmarks-and-how-you-can-crush-them/ If Kijiji.ca didn't handle scams it result in a loss of sales amounting to . Now they don't earn that money but with a % of the sales the number is still staggering high.
And that's why quality content is so important. It directly impacts your bottom line. If you users find scams, irrelevant items or doesn't find what they are looking for at all, they will leave without looking back.
[C L I C K]
The good news is that this form of platform leakage can be countered with smart focus and targeted efforts.
Here are 5 steps marketplaces can take right now to fix content challenges and improve search experience.
1. Give better guidance on categorization by implementing AI powered category suggestions and couple that with pre-moderation to re-categorize misplaced content.
2. Make use of de-duplication technology to avoid multiple identical listings.
3. Build up expertise about luxury brands and common counterfeit identifiers. Establish corporation with big luxury brands to fight the fraudsters and avoid lawsuits. Then Implement filters and AI to remove the fake goods from your site.
4. Put extra emphasis on picture quality. For some clients part of our tasks is not only to reject images, but to rank them based on quality. They will then push pictures labelled high quality to the top of their page so that's what visitors see when they first land on the site.
5. Research scam trends and patterns. Put extra focus on fraud prone categories like cars, electronics and real estate. Use AI models to quickly deal with scams for high accuracy and scalability.
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And that's is of course where we come in. Since 2002 we have helped companies improve their UGC and keep their users safe through a combination of human and AI powered moderation.
If you want to know how we can help you, talk to me and my team at our booth or grab one of us during breaks. My team is over there [Wave]
If there are any questions to the presentation I am happy to take them now and if you are interested in getting a free version of the full index or any of the studies I referred to, just let me or my team know. Finally, we are releasing a new version of our quality index shortly. If you want the pre-release version drop your email address with us and we will send it to you as soon as it is done.
I'll take questions now.
Thank you.
The good news is that this form of platform leakage can be fixed by putting a good content moderation strategy in place. And that's is of course where we come in. Since 2002 we have helped companies improve their UGC and keep their users safe through a combination of human and AI powered moderation.
If you want to know how we can help you, talk to me and my team at our booth or grab one of us during breaks. My team is over there [Wave]
If there are any questions to the presentation I am happy to take them now and if you are interested in getting a free version of the full index or any of the studies I referred to, just let me or my team know. Finally, we are releasing a new version of our quality index shortly. If you want the pre-release version drop your email address with us and we will send it to you as soon as it is done.
I'll take questions now.
Thank you.