iStrategy London - Social Commerce: Do Consumers Trust Your Brand? Steve Semelsberger, Pluck (Demand Media)

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In a world of increasing consumer expectations for transparency and quality, is your brand trusted? How can you tell? And how might you use social commerce technologies like reviews and discussions to glean insights and provide consumer assurance? Follow case studies on leading global brands like Kraft, Whole Foods and the NFL to see how marketers and e-commerce executives are working to foster trust.

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iStrategy London - Social Commerce: Do Consumers Trust Your Brand? Steve Semelsberger, Pluck (Demand Media)

  1. 1. Social Commerce Perspectives Do Consumers Trust Your Brand? Steve Semelsberger SVP & GM Social Products Group Integrated Customer Engagement
  2. 2. About PluckDivision of Demand Media (NYSE: DMD)Customer Engagement PlatformUsed by 600+ leading global brandsEnables them to:• Solicit feedback (ratings, reviews, polls, etc.)• Foster communication (shares, messages, etc.)• Gain contributions (journals, galleries, etc.)• Encourage identity (SSO, profiles, badges, etc.)
  3. 3. Today’s Session• The State of Consumer Trust – Current landscape of perspectives• Strategic Trust Considerations – Key thoughts and success drivers• Concrete Social Commerce Tactics – Focused on integrating social to commerce
  4. 4. Consumer Distrust Growing Globally Source: Edelman Global Trust Barometer, 2012
  5. 5. The Customer Experience Gap 80% of corporate executives say their company delivers a superior customer experienceJust 8% of consumers report they received one Source: Bain and Company
  6. 6. Drop of CEO Credibility, Rise of People Like Me Source: Edelman Global Trust Barometer, 2012
  7. 7. New Services Hone in On Trustability
  8. 8. New Services Hone in On Trustability
  9. 9. New Services Hone in On Trustability
  10. 10. New Services Hone in On Trustability
  11. 11. Trustability Varies by SourceNielsen asked 28,000consumers about Trust andResearch Trust completely/ Don’t trust much/ somewhat at all Recommendations from people I know 92% 8% Consumer opinions posted online 70% 30% Editorial content e.g., newspaper article 58% 42% Branded websites 58% 42% Emails I signed up for 50% 50% Display ads 16% 84% Mobile text ads 15% 85% Nielsen, 2012
  12. 12. Yet 26% of Consumers Still Turn to Brands First IBM asked consumers who they trust Customer most to provide honest feedback and reviews suggestions about products 14% Product experts Family/Friends 12% 48% Manufacturer 16% Retailer 10% IBM Institute for Business Value, 2012
  13. 13. Traditional Marketing Mental Model Source: Google ZMOT Presentation, 2012
  14. 14. Consumer Research Explodes: 10.4 Sources Per Purchase ~2x increase YoY 14 Source: Google ZMOT Presentation, 2012
  15. 15. New “Four Moments” Mental Model Source: Google ZMOT Presentation, 2012
  16. 16. Consumers Commit to Research Across Verticals Source: Google ZMOT Presentation, 2012
  17. 17. Brands Realize Trust Matters of marketers agree that84% building consumer trust will become their primary objective 1to1 Media Survey of Brands, 2011
  18. 18. The Trust Zeitgeist “In the world of branding, trust is the most perishable of assets.” Business Week"Trust and transparency [are] more important to us than ever.“ Mary Dillon, CMO McDonalds “Four pillars of the grownup web are trust, authenticity, engagement and purpose.” Ariana Huffington “It all started when Tony Hsieh decided to be completely open and transparent.” Zappos Insights “Sharing is the new giving, participation is the new engagement, recommendations are the new advertising.” Antonio Lucio, CMO Visa “Consumers will trust a company they believe is run really well.” Jim Farley, CMO Ford “Transparency is the new marketing.” Clay Shirky
  19. 19. Trust is Important at Every Stage LOYALTY Rewarding contributors who CONVERSION are credible and helpful surfaces your most Direct and detailed product trustworthy customers ENGAGEMENT experiences, tied to known, credible sources, inspires more Trust that comes from and bigger transactionsTRAFFIC consuming useful content in the company of likeminded peopleNew consumers are more creates emotional bondsattracted to your brand bytrusted connections andcontent
  20. 20. ThreeRequirements For Growing Trust Intention Do the right thing Competence Do things right Proactively Without Prompt Source: Peppers & Rogers, 2012
  21. 21. Skepticism Requires Repetition Majority Require 3-5x Message Repeat to Believe Source: Edelman Global Trust Barometer, 2012
  22. 22. The world isn’t perfect; brands that maintain they are perfect are simply not trustable Admitting one’s own vulnerability is the first step in earning someone else’s trust. 22 Source: Peppers & Rogers, 2012
  23. 23. Your Website: Best Engagement (Forrester)
  24. 24. Three Game Changers
  25. 25. Commit to Responsibility
  26. 26. Communicate Transparently
  27. 27. Offer Visibility
  28. 28. Five Social Commerce Pillars
  29. 29. 5 Drivers of Social Commerce Trustability Experience Attributes Identity Relationship Ownership Use real Verify Highlight names purchases Showcase connections Specify product skills and and participant relevancy details.
  30. 30. Use Real IdentitiesEncouragingSocial Sign Onleads to socialexperiences thatare built upon real,trustable displaynames fromFacebook andother services
  31. 31. Highlight Relationships
  32. 32. Display Verified Ownership
  33. 33. Showcase ExperienceAward points andbadges. Highlightusers who havesignificantexpertise. Nestléawards “browniepoints” tovaluablecontributors.
  34. 34. Specify Attributes
  35. 35. Eight More Things You Can Do Today
  36. 36. Reward Sharing Ingredients of Trusted Social Commerce Canadian e-tailer Shop.ca rewards shoppers who share their product discoveries with friends. They understand the effect on traffic of trusted friends’ invitations.
  37. 37. Offer CommentsSky News built a populartribute to Steve Jobs usingComments
  38. 38. Enable Discussions
  39. 39. Invite MediaNike invites golf enthusiaststo upload videos of theirswing, and then comparetheir form with friends’ oreven pros’
  40. 40. Leverage Ratings & ScoringContent Scoring provides apath to credible andauthoritative content onyour site. The NFL gives fans easy ways to record their mood about their team’s Draft, and to rate players and games in real time 40
  41. 41. Integrate Member ProfilesNBA fans enjoy robust profilesthat highlight all activities, whileletting them find, befriend andmessage each other.
  42. 42. Use Badges/Gamification
  43. 43. Showcase CommunityPages Kraft First Taste’s millionmembers get exclusives on new products. Confidential and Proprietary
  44. 44. Future Company Trust Depends on Societal Work Source: Edelman Global Trust Barometer, 2012
  45. 45. SummaryCompany trust is challenged Social Commerce tactics include:Consumer expectations are rising • Embrace Identity • Highlight RelationshipsBrands realize they must strive for hightrustability • Understand Attributes • Showcase OwnershipKey requirements include: • Foster Expertise• Intent• Competence Leverage these tactics in:• Proactivity • Ratings & Reviews • Forums • Sharing • Social Sign-On • Gamification • More
  46. 46. Thank YouCome by Our Booth And: Steve Semelsberger SVP & GM, Social Products twitter.com/Pluck twitter.com/semels info@pluck.com semels@pluck.com www.pluck.com (+1) 512 519 3214 (+1) 512 457 5220

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