alaTest Dmexco 22 Sept 2011 - Increase Conversion with Reviews

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Reviews provide valuable product information for consumers and can significantly increase online conversion rates and sales. Websites with user reviews see conversion rates up to 22% higher than those without. Reviews build trust with customers and allow them to share experiences, which can also increase customer loyalty and engagement. While many shops already have some reviews, common problems are having very few reviews, inconsistent reviews across similar products, or only average ratings that don't provide useful information. A complete review solution can help optimize reviews by standardizing them across products, including expert reviews and awards, actively collecting reviews from users, and providing credible ratings analysis to boost conversion.

Self Improvement Devices & Hardware

Higher conversion with reviewsArie Struik, Founder & CEOalaTestSeptember 2011

The Problem = Conversion 95% of visitors do NOTbuy

Reviews help consumers to buy products – some stats: 70% of online users said they foundratings and reviews the most helpful feature when researching products. (Jupiter Research) “91%seek onlineadviceabout products” (BIG research) “Products with reviews have a 20.4%lower return rate than products without reviews.” (PETCO) “Reviews not only help conversions but also drive traffic.” (Marketing Sherpa) “67%of online consumers leave a website due to a lack of product information.” (Allurent)

Reviews help consumers to buy products – also in Germany:

Reviews increase Sales Conversion and Profit It’s all about growing your sales revenues.... ,[object Object]

Lower product returnratesConversion: +22% …and increasing customer engagement and loyalty ,[object Object]

… and let your customers promoteyour productsConversion: +19% Conversion with reviews from alaTest Conversion with no reviews Conversion with reviews from alaTest Conversion with no reviews

“… but my Shop already has product reviews …”

Problem 1: Very few reviews ”Be the first to write a review!”

Problem 2: Same products, different reviews & ratings

Problem 3: Only “average” of ratings = useless -> Phones ranked by highest rating. Very old phones are “best”

Problem 4: No Expert reviews & awards Without = Bad  With = Good 

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alaTest Dmexco 22 Sept 2011 - Increase Conversion with Reviews

1. Higher conversion with reviewsArie Struik, Founder & CEOalaTestSeptember 2011

2. The Problem = Conversion 95% of visitors do NOTbuy

3. The Beginning….

4. Reviews help consumers to buy products – some stats: 70% of online users said they foundratings and reviews the most helpful feature when researching products. (Jupiter Research) “91%seek onlineadviceabout products” (BIG research) “Products with reviews have a 20.4%lower return rate than products without reviews.” (PETCO) “Reviews not only help conversions but also drive traffic.” (Marketing Sherpa) “67%of online consumers leave a website due to a lack of product information.” (Allurent)

5. Reviews help consumers to buy products – also in Germany:

6. Reviews help consumers to buy products

8. Increased average order value

10. … enable customers to share experiences

11. … and let your customers promoteyour productsConversion: +19% Conversion with reviews from alaTest Conversion with no reviews Conversion with reviews from alaTest Conversion with no reviews

12. “… but my Shop already has product reviews …”

13. Problem 1: Very few or zero reviews

14. Problem 1: Very few reviews ”Be the first to write a review!”

15. Problem 2: Same products, different reviews & ratings

16. Problem 3: Only “average” of ratings = useless -> Phones ranked by highest rating. Very old phones are “best”

17. Problem 4: No Expert reviews & awards Without = Bad  With = Good 

18. “… so, how can I optimize Reviews on my Shop?”

19. More conversion with reviews: COMPLETE review solution Same reviews for similar products Product Awards Active user review collection Trustworthy analysis = credible product ratings Expert and user reviews

20.

21. Money back guarantee!

22. Sign up in next 30 Days

23.

Editor's Notes

Problem: >95% of visitors do NOT buy
The beginning 1998:Like most things: It starts with a babyPic of son & cameras
Remove date
A/B Test conversion increase with alaTest Reviews SolutionsTech for Less a/b testMTX Computer a/b test
most shops do have reviews…… but… no optimized reviews solution…… and this costs retailers moneySome examples on next slides ->>
Even large retailers with a professional review solution lack review content on many top-selling products.
Do you feel like buying a product that nobody has provided a review for?
Even giants miss potential. Here Google.de presents different buying options for the same product. The first two options have been matched to the 10 reviews found for this product, the bottom 3 options have not been matched.Lumix DMC-TZ18
-> Phones ranked by highest rating. Very old phones are “best”
-> Most retailers are not showing reviews from Expert sources.Comment: Add logos of expert sources and big sites without expert ratings.
most shops do have reviews…… but… no optimized reviews solution…… and this costs retailers moneySome examples on next slides ->>
The alaTest COMPLETE Review solution provides all the features/functionality of the alaTest USER review and EXPERT review solutions in a fully integrated, quick to implement single solution. No other review solution on the market provides such a complete review solution. Announcing alaTest COMPLETE - the first review solution to dynamically harness the global voice of both the consumer and expert for competitive advantage Stockholm, Sweden (PRWEB), September 15, 2011alaTest (http://alatest.com), the technology leader in review solutions, today announced the launch of its COMPLETE review solution, providing retailers, brand manufacturers and consumers alike with product quality insights derived from the true global voice of consumers and experts. The solution enables retailers and brand manufacturers to build loyalty and customer engagement by providing, at the point of purchase, trustworthy product quality information from users and from independent 3rd party expert reviewers. Content can be shared across all channels: website, mobile and social sites such as Facebook and Twitter. Further social interaction is supported with consumers encouraged to share product experiences and opinions. Built in response to clients’ needs, the alaTest COMPLETE review solution is the only solution to provide rich review content from both user and expert reviews worldwide, which helps consumers select products and has been shown in tests to increase sales conversion and profit. The alaTest COMPLETE review solution captures data on a granular level which can be analyzed to provide valuable insights into customers and the entire market, closing the gap between retailers, brand manufacturers and the consumer. alaTest CEO ArieStruik said, “We are proud to work with some of the world’s leading companies, and help them deliver an outstanding customer experience whilst maximizing the effectiveness of every consumer contact.” The alaTest COMPLETE review solution features the unique alaScore™ algorithm which analyzes user and expert product quality information from over 1,800 international sources, and, through the use of cutting-edge language technology, presents a rich at-a-glance summary in the local language. The alaTest rapid deployment process includes preloaded content to enable clients to display rich reviews from day 1, whilst review collection features actively harness the power of user feedback to continually improve content quality. The result is a world-class review solution that delivers a quick and sustained return on investment.
About alaTest™alaTest is a leading global provider of social commerce solutions that help retailers and brands improve customer satisfaction and increase their revenues through the value of reviews. alaTest’s award winning review analysis technology aggregates, structures and daily summarizes millions of expert and consumer product reviews from more than 1,800 international review sources and matches them to clients’ product catalogues. alaTest enables clients to offer their customers a comprehensive review experience that includes tools to visualize in real time what the world says about a product’s strengths and weaknesses and how it compares to similar products. alaTest has offices in Stockholm, New York, Berlin, London and Wuhan and operates product reviews sites for consumers in 20 markets across the world.

alaTest Dmexco 22 Sept 2011 - Increase Conversion with Reviews

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alaTest Dmexco 22 Sept 2011 - Increase Conversion with Reviews

Editor's Notes