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Applying Data Science to Social Proof
The document discusses the impact of social proof on consumer behavior and provides data-driven methods for measuring its return on investment (ROI) through user-generated content (UGC). It covers strategies for engagement, conversion rates, and sales enhancements that can be achieved by leveraging social proof. Key takeaways emphasize the importance of collecting, managing, and distributing UGC effectively to amplify customer voices and boost business performance.
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Applying Data Science to Social Proof
- 1. Applying Data Scienceto Social Proof JOANNA ALTER, YOTPO CO-MARKETING MANAGER
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- 3. Thue is theKissmetrics Webinar Wizard and Marketing Ops Manager. Before joining forces with Kissmetrics, he was a Lyft driver in SF, which is also how he ended up as a KISSmetrics marketer. Whenever Thue is not trying to automate everything around him, you can find him hiking in the Sierras. THUE MADSEN Marketing Operations Manager, Kissmetrics @ThueLMadsen Joanna is Yotpo’s resident sunglasses aficionado and Co-marketing Manager. She really enjoys exploring new places and observing her surroundings—so much so that she frequently trips while gazing at impressive buildings, beautiful landscapes, or anything else that catches her eye. JOANNA ALTER Co-marketing Manager, Yotpo @alterjoanna
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- 5. 1 Section One –Introduction Engagement Conversion Sales Acquisition 2 Section Two – How to Measure the ROI of Social Proof with Data Science 3 Section Three – Data-backed Tips for Leveraging Social Proof for Your Business TABLE OF CONTENTS Social proof influences consumers Collection Management Distribution
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- 7. Introduction SOCIAL PROOF INFLUENCESCONSUMERS
- 8. Social Proof A psychologicalphenomenon where people assume the actions of others in an attempt to reflect correct behavior for a given situation.
- 10. “First and lasttime staying here.”
- 13. 1/3 of allsite visitors More than 1/3 of all visitors to eCommerce sites view or engage with user-generated content.
- 14. 55% of customers Morethan 55% of customers engage with user-generated content before making a purchase.
- 15. Show Me TheData! HOW CAN I MEASURE THE IMPACT OF SOCIAL PROOF?
- 16. How to Measurethe ROI of UGC USE DATA SCIENCE TO SEE HOW USER-GENERATED CONTENT IS BRINGING YOUR BUSINESS VALUE
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- 18. HOW TO MEASURETHE ROI OF CUSTOMER CONTENT: ENGAGEMENT
- 19. HOW TO MEASURETHE ROI OF CUSTOMER CONTENT: ENGAGEMENT
- 20. HOW TO MEASURETHE ROI OF CUSTOMER CONTENT: ENGAGEMENT Opportunities for site visitors to engage with UGC • Reviews • Star ratings • Customer photos • Customer Q&A
- 21. HOW TO MEASURETHE ROI OF CUSTOMER CONTENT: ENGAGEMENT Opportunities for site visitors to engage with UGC • Reviews • Star ratings • Customer photos • Customer Q&A • Home page • Product page • Gallery Page • Checkout page
- 22. HOW TO MEASURETHE ROI OF CUSTOMER CONTENT: ENGAGEMENT Opportunities for site visitors to engage with UGC • Reviews • Star ratings • Customer photos • Customer Q&A • Home page • Product page • Gallery Page • Checkout page Does anyone even look at this stuff?
- 23. HOW TO MEASURETHE ROI OF CUSTOMER CONTENT: ENGAGEMENT See how many site visitors are engaging with each your UGC widgets displaying social proof about your brand.
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- 25. HOW TO MEASURETHE ROI OF CUSTOMER CONTENT: CONVERSION Conversion Rate Uplift Conversion rate of customers who engage with user-generated content Conversion rate of customers who do not engage with user-generated content VS.
- 26. HOW TO MEASURETHE ROI OF CUSTOMER CONTENT: CONVERSION
- 27. HOW TO MEASURETHE ROI OF CUSTOMER CONTENT: CONVERSION $ Customers who engage with user-generated content Average Order Value Uplift $ Customers who do not engage with user-generated contentVS.
- 28. HOW TO MEASURETHE ROI OF CUSTOMER CONTENT: CONVERSION When a customer buys exactly what they intended to buy, that is good for your store.
- 29. HOW TO MEASURETHE ROI OF CUSTOMER CONTENT: CONVERSION When a customer buys more than what they intended to buy, that is great for your store.
- 30. HOW TO MEASURETHE ROI OF CUSTOMER CONTENT: CONVERSION You can quantify the percentage of customers who interacted with UGC and how much more money they spent in your store.
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- 32. HOW TO MEASURETHE ROI OF CUSTOMER CONTENT: SALES % sales from UGC % engagement with UGC>
- 33. HOW TO MEASURETHE ROI OF CUSTOMER CONTENT: SALES % sales from UGC % engagement with UGC> % sales from UGC% engagement with UGC >
- 34. HOW TO MEASURETHE ROI OF CUSTOMER CONTENT: SALES
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- 36. HOW TO MEASURETHE ROI OF CUSTOMER CONTENT: ACQUISITION
- 37. HOW TO MEASURETHE ROI OF CUSTOMER CONTENT: ACQUISITION
- 38. Data-Backed Tips for LeveragingSocial Proof
- 39. DATA-BACKED TIPS FORLEVERAGING SOCIAL PROOF How data can help you leverage social proof • Collection: Getting reviews, photos, and other customer content • Management: Understanding the significance behind that content • Distribution: Displaying this content to get the most out of your social proof
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- 41. 6 to 8.5% ofcustomers respond to post-purchase UGC requests. DATA-BACKED TIPS FOR LEVERAGING SOCIAL PROOF: COLLECTION
- 42. HOW TO MEASURETHE ROI OF CUSTOMER CONTENT: CONVERSION Optimize your UGC collection by analyzing what you’re saying, and when you’re saying it.
- 43. HOW TO MEASURETHE ROI OF CUSTOMER CONTENT: CONVERSION What you’re saying: subject lines When you’re saying it: time of day
- 44. DATA-BACKED TIPS FORLEVERAGING SOCIAL PROOF: COLLECTION
- 45. DATA-BACKED TIPS FORLEVERAGING SOCIAL PROOF: COLLECTION
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- 47. Most common wordsin customer reviews in 2016 DATA-BACKED TIPS FOR LEVERAGING SOCIAL PROOF: MANAGEMENT
- 48. Natural Language Processing •Identify customer concerns and experiences early • Publish UGC that accurately reflects customer sentiment DATA-BACKED TIPS FOR LEVERAGING SOCIAL PROOF: MANAGEMENT
- 49. DATA-BACKED TIPS FORLEVERAGING SOCIAL PROOF: MANAGEMENT
- 50. DATA-BACKED TIPS FORLEVERAGING SOCIAL PROOF: MANAGEMENT
- 51. DATA-BACKED TIPS FORLEVERAGING SOCIAL PROOF: MANAGEMENT
- 52. DATA-BACKED TIPS FORLEVERAGING SOCIAL PROOF: MANAGEMENT
- 53. DATA-BACKED TIPS FORLEVERAGING SOCIAL PROOF: MANAGEMENT
- 54. DATA-BACKED TIPS FORLEVERAGING SOCIAL PROOF: MANAGEMENT
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- 56. The more recognitionyou give your customers, the more genuine information you get from your customers DATA-BACKED TIPS FOR LEVERAGING SOCIAL PROOF: DISTRIBUTION
- 57. Customize your ratingsand highlight customer feedback DATA-BACKED TIPS FOR LEVERAGING SOCIAL PROOF: DISTRIBUTION
- 58. Showcase customer experiencesto increase checkouts by 29% DATA-BACKED TIPS FOR LEVERAGING SOCIAL PROOF: DISTRIBUTION
- 59. Display user-generated contentacross your site in creative ways DATA-BACKED TIPS FOR LEVERAGING SOCIAL PROOF: DISTRIBUTION
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- 61. Key Takeaways • UGCallows you to learn from your customers and for your customers to learn from each other • Amplify your customers’ voices by collecting, managing and distributing UGC • Measure the ROI of your user-generated content so you can effectively leverage social proof APPLYING DATA SCIENCE TO SOCIAL PROOF
- 62. LEARN MORE NOW Discoverhow Kissmetrics can help you optimize your marketing
- 63. JOANNA ALTER Co-marketing Manager,Yotpo @alterjoanna [email protected] THUE MADSEN Marketing Operations Manager, Kissmetrics @ThueLMadsen [email protected] Questions?