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5 Types of Companies That Absolutely
NEED Trust to Grow
(they just don’t know it yet!)
Jake Favaro
Account Director
3Q Digitial
Presenters
Jordan Garner
Director of Marketing
Trustpilot
Agenda
Intro to Trustpilot & 3Q Digital
Why Customer Reviews Matter
5 Type of Companies That Need
Trust to Grow
Proactivel...
Introduction to
Trustpilot & 3Q Digital
Trustpilot by the Numbers
Retail Services Money
Common Client Challenges
Manage Online
Reputation
•Managing online
reputation & brand
development
•Standing out from
compe...
About 3Q Digital
Team
A dedicated, 180-member team of innovators, entrepreneurs, data
junkies, and growth agents.
Offices
...
Customer Focus + Coordination = Sustained Growth
TIME
GROWTH
Why Customer Reviews Matter
50% of Americans who are aware of advertising don’t trust
what they see, read or hear in advertisements.
44% think adverti...
72% of people trust consumer opinions posted online
(2nd only to “Recommendations from people I know”)
Need
recognition
Product
specification
Evaluation
of options
Purchase
decision
Post-purchase
Influenced
by reviews
Look fo...
90% of consumers say
buying decisions are
influenced by online reviews
The Impact of Reviews on the
Consumer Buying Journe...
Reviews are happening
EVERYWHERE.
Consumers are demanding reviews for
EVERY BUYING DECISION.
Companies of all sizes, from ...
5 Types of Companies That
NEED Trust to Grow
Marketplaces
Companies connecting businesses or sellers to anyone
looking to purchase their product or service.
What are Marketplaces?
• Reviews are part of the unique value-add of using a marketplace vs. going
directly to the seller or using search engines...
Subscription Services
Companies that offer a service or product(s) delivered on an
on-going basis over a prolonged length of time.
What are Subs...
• Longer-term/more serious commitment can be a conversion obstacle  trust &
reviews can help address & overcome this obje...
Finance
Companies dealing with the movement, exchange, or holding of
money (credit, consumer deposits, lending, insurance, retirem...
• Space is more crowded than ever before  need to stand out
• Numerous easy-to-access options means customers are less lo...
B2B
Companies that primarily sell goods or services to other
businesses.
What are B2B companies?
• Longer sales cycle + bigger financial/time commitment + multiple decision-
makers = reviews can help keep sale moving fo...
New Markets/Brands
Companies offering products or services that are new or
uncommon to their intended audience, or are selling their
offering...
• Consumers need more content & info to understand unique offering  use
reviews to offer information in language consumer...
Trust-Building Tactics
for EVERY Business
1. Proactively Collect Reviews
Poll Question
Impact of Asking for Reviews Proactively
NOT asking for reviews:
50/50 split positive/negative at best
(likely many more n...
The Need for Social Engagement: Ask & Convert
Of the 4.3M reviews we've
helped customers collect
since May of 2015, 86%
ha...
Implementing a Proactive Collection Strategy
1
Design a collection
flow in your existing
customer journey to
align with yo...
2. Respond To & Resolve
Reviews
• Resolving issues for unhappy customers to win them back
• Encouraging happy customers to be return customers
• Promoting...
Content of Responses Always apologize
Address customer concerns
directly
Give the customer a forum to
follow-up
If the sit...
A
Example:
1 Positive
Tone of Review Responses
2 Personal
3 Professional
4 In line with your brand
PRO TIP: For any 3rd party platfor...
3. Leverage Reviews for
Conversion
Need
recognition
Product
specification
Evaluation
of options
Purchase
decision
Post-purchase
How Consumers Purchase
Insert...
SEARCH
Paid Search
(via Seller Ratings Ad Extension)
Organic Search
(via 3rd party sites & rich snippets)
SEARCH TIPS:
• Enable & test all PPC review extensions
• Utilize reviews for Google Seller Ratings in
PPC, as well as prod...
DISPLAY
Banner, Re-Targeting, Social Media Ads…
DISPLAY TIPS:
• A/B test trust signals in any type of visual ad
– retargeting, banner ads, etc.
• Try including actual sni...
SOCIAL
SOCIAL TIPS:
• Use real customer reviews with third-party
validation in organic & paid social posts
• Test text posts vs. ...
EMAILS
EMAIL TIPS:
• Test using reviews in email marketing with
strong calls-to-action – put trust signals near
the primary CTA
•...
WEBSITE
WEBSITE TIPS:
• Test reviews with third-party validation
EVERYWHERE – home page, category
pages, product pages, form pages...
Measurement
A/B & MVT
USER
TESTING
DYNAMIC
CONTENT
• Hotjar is a tool that 3Q provides to clients
• Analyze on-site behavi...
Conversion Rate Optimization (CRO)
INCREASE CONVERSIONS
On-site elements including reviews and trust
signals should be A/B...
A/B & MVT
USER
TESTING
DYNAMIC
CONTENT
Real-life scenarios that saw BIG results using trust signals & reviews on-site:
• T...
A/B & MVT
USER
TESTING
DYNAMIC
CONTENT
Driving Conversion Success with Reviews
Dashlane’s Results:
To-Do List
1. Proactively collect reviews from all of your
customers in a central location
2. Respond & resolve ALL review...
Q&A
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Five types of companies that absolutely NEED to build trust to grow (but just don't know it yet!)

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By: Trustpilot and 3Q Digital

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Five types of companies that absolutely NEED to build trust to grow (but just don't know it yet!)

  1. 1. 5 Types of Companies That Absolutely NEED Trust to Grow (they just don’t know it yet!)
  2. 2. Jake Favaro Account Director 3Q Digitial Presenters Jordan Garner Director of Marketing Trustpilot
  3. 3. Agenda Intro to Trustpilot & 3Q Digital Why Customer Reviews Matter 5 Type of Companies That Need Trust to Grow Proactively Collect Reviews Respond To & Resolve Reviews Leverage Reviews for Conversion Your To-Do List Q&A
  4. 4. Introduction to Trustpilot & 3Q Digital
  5. 5. Trustpilot by the Numbers
  6. 6. Retail Services Money
  7. 7. Common Client Challenges Manage Online Reputation •Managing online reputation & brand development •Standing out from competition •Developing social media presence & community Drive Traffic •Improving PPC performance •Driving SEO traffic via branded search •Optimizing performance of other paid digital channels Increase Conversions •Increasing conversion rates & growing sales •Creating repeat customers & sales through advocacy •Increasing AOV Improve Business •Collecting customer feedback & insights •Identifying unhappy customers & resolving issues •Hearing value prop in customers own words
  8. 8. About 3Q Digital Team A dedicated, 180-member team of innovators, entrepreneurs, data junkies, and growth agents. Offices Team members throughout the nation with offices in San Francisco, San Mateo, Austin, New York City, Chicago, San Diego, and Vermont. Partnerships $500MM under management globally. Strong relationships with the networks - inclusion in Alphas & Betas and special client events Mission To drive relentless, sustainable growth and innovation for our clients offering SEM, SEO, paid social, analytics, mobile, display, CRO, and strategic consulting
  9. 9. Customer Focus + Coordination = Sustained Growth TIME GROWTH
  10. 10. Why Customer Reviews Matter
  11. 11. 50% of Americans who are aware of advertising don’t trust what they see, read or hear in advertisements. 44% think advertisements are dishonest. -YouGov.com “
  12. 12. 72% of people trust consumer opinions posted online (2nd only to “Recommendations from people I know”)
  13. 13. Need recognition Product specification Evaluation of options Purchase decision Post-purchase Influenced by reviews Look for reviews Leave reviews How Consumers Purchase Look for reviews Leave reviews Look for reviews
  14. 14. 90% of consumers say buying decisions are influenced by online reviews The Impact of Reviews on the Consumer Buying Journey 72% of consumers will take action after reading a positive review Customers are likely to spend 31% more on a business with “excellent” reviews
  15. 15. Reviews are happening EVERYWHERE. Consumers are demanding reviews for EVERY BUYING DECISION. Companies of all sizes, from all verticals, must have a customer review strategy (not JUST eCommerce).
  16. 16. 5 Types of Companies That NEED Trust to Grow
  17. 17. Marketplaces
  18. 18. Companies connecting businesses or sellers to anyone looking to purchase their product or service. What are Marketplaces?
  19. 19. • Reviews are part of the unique value-add of using a marketplace vs. going directly to the seller or using search engines • Marketplaces typically encounter heavy competition from direct sellers & other marketplaces  trust & reviews is a key differentiator • Marketplaces tend to lean HEAVILY on advertising to attract consumers, but consumers don’t trust advertising  reviews can help drive conversion • Consumers expect options offered to be “trusted” or verified  meeting this expectation gets repeat users • Return users + consistent trust-building experiences = brand fans & advocates Why do Marketplaces need trust & reviews?
  20. 20. Subscription Services
  21. 21. Companies that offer a service or product(s) delivered on an on-going basis over a prolonged length of time. What are Subscriptions?
  22. 22. • Longer-term/more serious commitment can be a conversion obstacle  trust & reviews can help address & overcome this objection • Subscriptions have a service component, which can often be a differentiation point from competitors  reviews help speak to & define high service levels • Subscriptions for non-typical products/services are becoming popular  reviews can help consumers feel comfortable with this new way of buying • Retention is the #1 key success metric for subscriptions  use reviews as a health check as well a early detection of trends & root cause analysis • Increase retention = increase LTV & build advocates to bring in new biz Why do Subscriptions need trust & reviews?
  23. 23. Finance
  24. 24. Companies dealing with the movement, exchange, or holding of money (credit, consumer deposits, lending, insurance, retirement). What are Finance companies?
  25. 25. • Space is more crowded than ever before  need to stand out • Numerous easy-to-access options means customers are less loyal, they can transact with multiple institutions  trust can help retain/upsell current customers & win new ones • Paid advertising is incredibly competitive, with some of the most expensive keywords in Google  use reviews to build efficiency in these channels • Consumers are demanding high service-levels in finance  use reviews to differentiate based on excellent customer experience • Money is easier than ever to transfer & exchange  consumers are looking for trust signals to accept these new methods Why do Finance companies need trust & reviews?
  26. 26. B2B
  27. 27. Companies that primarily sell goods or services to other businesses. What are B2B companies?
  28. 28. • Longer sales cycle + bigger financial/time commitment + multiple decision- makers = reviews can help keep sale moving forward & overcome objections • Reviews & testimonials are critical to B2B conversions  more than 85% of biz buyers are only satisfied after reading 10+ recent reviews • Decision-makers are doing more research  online reputation management is crucial to ensure they are able to find positive feedback • As the space becomes crowded, companies are differentiating more on service & customer success  reviews help demonstrate a strong service offering • Use reviews for health checks & insights  increase retention/LTV & build advocates in your most loyal customers Why do B2B companies need trust & reviews?
  29. 29. New Markets/Brands
  30. 30. Companies offering products or services that are new or uncommon to their intended audience, or are selling their offering in a new way. What are New Markets/Brands?
  31. 31. • Consumers need more content & info to understand unique offering  use reviews to offer information in language consumers actually use • Consumers naturally do more research for new markets/brands before making decisions  reputation management is critical to manage what they find • Reviews help identify insights to make business decisions & understand how consumers will define your value prop • Reviews can help to identify potential issues early on, which is critical to having a smooth launch & adjusting processes as needed • Unfamiliar brands for consumers need trust to ensure conversion! Why do New Markets/Brands need trust & reviews?
  32. 32. Trust-Building Tactics for EVERY Business
  33. 33. 1. Proactively Collect Reviews
  34. 34. Poll Question
  35. 35. Impact of Asking for Reviews Proactively NOT asking for reviews: 50/50 split positive/negative at best (likely many more negative reviews) Proactively asking for reviews: 83% positive reviews More balanced representation of a business
  36. 36. The Need for Social Engagement: Ask & Convert Of the 4.3M reviews we've helped customers collect since May of 2015, 86% have been 4 stars or higher
  37. 37. Implementing a Proactive Collection Strategy 1 Design a collection flow in your existing customer journey to align with your goals 2 Measure the results, optimize the collection rate, & iterate3 Identify your org’s goals for a proactive review strategy NEVER STOP ASKING!
  38. 38. 2. Respond To & Resolve Reviews
  39. 39. • Resolving issues for unhappy customers to win them back • Encouraging happy customers to be return customers • Promoting customer advocacy among brand champions • Showing that your company cares & takes reviews seriously • Giving your company a chance to build a brand voice Benefits of Responding to Reviews = REVENUE (provided you ACT on the insights you uncover)
  40. 40. Content of Responses Always apologize Address customer concerns directly Give the customer a forum to follow-up If the situation warrants, also reach out privately – not everything should be discussed in a public forum PRO TIP: Ask the reviewer to update their review if resolved
  41. 41. A Example:
  42. 42. 1 Positive Tone of Review Responses 2 Personal 3 Professional 4 In line with your brand PRO TIP: For any 3rd party platform that is actively receiving customer feedback, CURATION & RESPONSE is crucial!
  43. 43. 3. Leverage Reviews for Conversion
  44. 44. Need recognition Product specification Evaluation of options Purchase decision Post-purchase How Consumers Purchase Insert TRUST SIGNALS on every step of your acquisition funnel to give prospects the verification they need to move forward until CONVERSION
  45. 45. SEARCH Paid Search (via Seller Ratings Ad Extension) Organic Search (via 3rd party sites & rich snippets)
  46. 46. SEARCH TIPS: • Enable & test all PPC review extensions • Utilize reviews for Google Seller Ratings in PPC, as well as product reviews in Google Shopping & PLAs • Optimize response rate, ask consumers to update reviews if resolved, & keep collecting proactively to improve ratings over time • Don’t forget landing pages!
  47. 47. DISPLAY Banner, Re-Targeting, Social Media Ads…
  48. 48. DISPLAY TIPS: • A/B test trust signals in any type of visual ad – retargeting, banner ads, etc. • Try including actual snippets from real reviews – these tend to out-perform just ratings alone • Try including third-party validation with ratings & reviews – these tend to win • Again, don’t forget landing pages!
  49. 49. SOCIAL
  50. 50. SOCIAL TIPS: • Use real customer reviews with third-party validation in organic & paid social posts • Test text posts vs. image versions of reviews – images tend to win • Celebrate review milestones on social for internal morale-boosting & community- building among customers/advocates • Encourage customer participation & sharing of reviews with contests, referral programs, etc.
  51. 51. EMAILS
  52. 52. EMAIL TIPS: • Test using reviews in email marketing with strong calls-to-action – put trust signals near the primary CTA • Target prospects/customers with review content that relates to them • Use reviews to inspire & target your best customers with referral & advocacy email campaigns to drive return business & new customers
  53. 53. WEBSITE
  54. 54. WEBSITE TIPS: • Test reviews with third-party validation EVERYWHERE – home page, category pages, product pages, form pages, landing pages, shopping cart (start on pages with highest bounce rate) • Build a review page with strong SEO signals to rank for branded reputation- related terms • Include Schema.org markup to be eligible for rich snippets in organic search
  55. 55. Measurement A/B & MVT USER TESTING DYNAMIC CONTENT • Hotjar is a tool that 3Q provides to clients • Analyze on-site behavior and improve conversion rates • Pre and post-conversion surveys allow businesses to determine how important trust is to their users • Heat Maps feature allows us to analyze clicks and mouse hovers • Conversion Funnels show typical conversion pathways and drop-off points where a display of positive reviews may be most needed
  56. 56. Conversion Rate Optimization (CRO) INCREASE CONVERSIONS On-site elements including reviews and trust signals should be A/B tested in order to drive up landing page & site conversion rates. CRO is a central component of a well-rounded digital media and growth strategy. UX DESIGN A B A/B & MVT USER TESTING DYNAMIC CONTENT
  57. 57. A/B & MVT USER TESTING DYNAMIC CONTENT Real-life scenarios that saw BIG results using trust signals & reviews on-site: • The business had previously performed intercept polling and uncovered many complaints related to trust • The business consistently saw a high volume of on-site chat interaction, with questions around product details, remaining objections, or unanswered questions • The business’ main product is a commodity or has a low level of cognitive thinking involved (a purchase is typically completed in one session without leaving the site) CRO Testing Results with Reviews
  58. 58. A/B & MVT USER TESTING DYNAMIC CONTENT Driving Conversion Success with Reviews
  59. 59. Dashlane’s Results:
  60. 60. To-Do List 1. Proactively collect reviews from all of your customers in a central location 2. Respond & resolve ALL reviews 3. Leverage your reviews to grow traffic, increase conversion, & improve your business - share reviews EVERYWHERE - encourage customer advocacy - mine reviews for insights 4. Test, optimize, & measure your success!
  61. 61. Q&A

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