4 Customer Success Data Hacks to Identify your Ideal Customer Profile
Why Authenticity is Essential to Consumer Trust
1. Truth or Consequences:
Why Authenticity is
Essential to Consumer Trust
Jim Houlihan – Director of Authenticity, Bazaarvoice
Dan Halsey, Senior Product Manager, Best Buy
3. TRUTH OR CONSEQUENCES: Authenticity
Bazaarvoice’s commitment to Authenticity
Industry Stance & Overview
• Creating TRUST & Brand Protection
Global Partnerships
• WOMMA
• AFNOR
• Coming soon…
4. BV Authenticity Policy
• Free of Fraud & Spam
• Free From Edits & Classifications
• Full Transparency
TRUTH OR CONSEQUENCES: Authenticity
5. BV Technology
• Device Reputation
• Fraud Management
• Platform Power
• Results
TRUTH OR CONSEQUENCES: Authenticity
6. What we’re seeing (cool stuff)
Case Story #1
High Velocity Fraud
Case Story #2
“Monkey (supplier) in the middle”
TRUTH OR CONSEQUENCES: Authenticity
7. Industry Stances by Our Clients
Partnership with Best Buy
• Authenticity Results for Best Buy
• How it all started
• Dan Halsey
TRUTH OR CONSEQUENCES: Authenticity
9. Confidential – Best Buy internal use only. Do not copy, publish, or distribute. The material in this document is confidential to Best Buy.
March 6, 2013 | 9
SOCIAL COMMERCE PRODUCT TEAM
BEST BUY’S BOTTOM LINE:
REVIEWS DRIVE SALES
• Customers who interact with Customer Reviews on BestBuy.com
are associated to:
— 20% of all site visits
— 28% of all site orders
— 32% of all site revenue
• When compared to customers who didn’t interact with reviews, they:
• Show 17% increase in Average Order Value
• Show 70% increase in Conversion Rate
10. Confidential – Best Buy internal use only. Do not copy, publish, or distribute. The material in this document is confidential to Best Buy.
March 6, 2013 | 10
SOCIAL COMMERCE PRODUCT TEAM
CUSTOMER’S BOTTOM LINE:
REVIEW QUANTITY AND QUALITY
Weber Shandwick / KRC Research –
Buy It, Try It, Rate It – Study of Consumer Electronics Purchase
Decisions In the Engagement Era - January 2013
Core influential elements used by buyers in
evaluating usefulness of a customer review:
Review seems fair and reasonable
Extent to which review is well
written
Review contains statistics &
specifications
Reviewer is named, not anonymous
Number of reviews that person has
written for other products
32%
27%
18%
23%
25%
11. Confidential – Best Buy internal use only. Do not copy, publish, or distribute. The material in this document is confidential to Best Buy.
March 6, 2013 | 11
SOCIAL COMMERCE PRODUCT TEAM
BUT… CUSTOMERS DON’T BELIEVE EVERY
REVIEW THEY READ
-- Weber Shandwick / KRC Research –
Buy It, Try It, Rate It – January 2013
12. Confidential – Best Buy internal use only. Do not copy, publish, or distribute. The material in this document is confidential to Best Buy.
March 6, 2013 | 12
SOCIAL COMMERCE PRODUCT TEAM
WHAT REVIEW AUTHENTICITY ISSUES ARE
WE SEEING?
• Isolated / more random
— Single review / single product focus
— Occasional multi-product brand focus (disgruntled with brand)
— Technology, moderation guidelines + strong moderation team
aid in detection
— Small fraction
• Brand focused, repetitive
— Brand driven across multiple products
• Promoting own brand
• Demoting other brands (competition)
— Technology primarily detects
— Relationship/Partnership Issue
— 91 Brands to Date
— Small, but more troubling fraction
Customer Review Fraud/Spam Mfg/Branded Review Fraud
13. Confidential – Best Buy internal use only. Do not copy, publish, or distribute. The material in this document is confidential to Best Buy.
March 6, 2013 | 13
SOCIAL COMMERCE PRODUCT TEAM
SUSPECTED MFG/BRAND BEHAVIOR:
CONFIRMED
Jan 22, 2009
Sam Decker --
(BazaarVoice Advisor/former CMO)
blogs about DailyBackground.com
article on accessory manufacturer
soliciting “Hits” on Amazon
Mechanical Turk to write positive
(5-star preferred) product reviews
for Amazon.com
The Bounty:
25-50 word review = $0.25 – $0.65 Hit reward
14. Confidential – Best Buy internal use only. Do not copy, publish, or distribute. The material in this document is confidential to Best Buy.
March 6, 2013 | 14
SOCIAL COMMERCE PRODUCT TEAM
BEST BUY / BAZAARVOICE AUTHENTICITY
PILOT PROGRAM INITIATED
• To go beyond account & purchase
verification, IP address, time/date
stamp data, text analysis
• Focus on mfg/branded review
fraud
• Deployed advanced transaction
fraud detection capabilities on
BestBuy.com
• Pilot success – fully deployed
2012
15. Confidential – Best Buy internal use only. Do not copy, publish, or distribute. The material in this document is confidential to Best Buy.
March 6, 2013 | 15
SOCIAL COMMERCE PRODUCT TEAM
ONE CE MANUFACTURER’S REVIEW FRAUD
16. Confidential – Best Buy internal use only. Do not copy, publish, or distribute. The material in this document is confidential to Best Buy.
March 6, 2013 | 16
SOCIAL COMMERCE PRODUCT TEAM
BEST BUY MFG/BRANDED REVIEW FRAUD
PROCESS
• Bazaarvoice Notification or BBY
Detection
• Bazaarvoice Authenticity Team
Provides Supporting Review
Data
R&R Team
• R&R Team meets with Merchant/
Buyer who owns Brand
relationship – presents evidence
• Buyer informs Merchant
Leadership
• Relationship management
assessment
Merchant
Team • Legal drafts notification to Brand
• Reviewed by and CC’d to
Merchant Leadership
• Legal sends to Brand
• Branded Review Fraud Stops
(we hope, but never stop
checking)
Legal
17. Confidential – Best Buy internal use only. Do not copy, publish, or distribute. The material in this document is confidential to Best Buy.
March 6, 2013 | 17
SOCIAL COMMERCE PRODUCT TEAM
WHAT WE ARE DOING TO CLOSE THE GAP
ON REVIEW FRAUD?
• Major focus on increasing volume of verified reviews
(Verified Purchaser)
• Badged employee reviews
• Engage merchant / buyer team in detection
• Expose reviewer stats / reputation
• New authentication methodologies
• Enforce our Terms & Conditions and FTC guidelines