6 Million Customers Can’t be Wrong - Social Proof in the Buying Process
Download as PPTX, PDF1 like1,460 views
The document discusses the significance of social proof and online reviews in shaping consumer trust and purchase decisions. It highlights strategies for companies to encourage positive reviews and effectively manage negative feedback while emphasizing the importance of transparency and engagement with customers. With evidence suggesting the increasing prevalence of fake reviews, it calls for companies to maintain genuine communication and incorporate consumer feedback into their business culture.
6 Million Customers Can’t be Wrong - Social Proof in the Buying Process
- 1. Peter Holten Mühlmann @peter_holten @trustpilot Social Media Week Copenhagen – 20th February 2013 - Carlsberg
- 2. Making shopping online more social and more 120 employees, 26 nationalities Offices in CPH & NYC #smwtrust
- 3. #smwtrust
- 4. Trust is the currency of the future The consumer perspective How to get social proof as a company The business case Dealing with the negative Customer focus #fail examples - you can’t cheat your way into trust #smwtrust
- 5. #smwtrust
- 6. 6 Think 2-5 years ahead. Now ask yourself these questions: Which consumer purchase decisions will not be based on other customers opinions? In which industries will companies be unaffected by their online reputation? #smwtrust
- 7. #smwtrust
- 8. 1. Lots of people like this 2. People like you like this 3. Your friends like this 4. You like this #smwtrust http://www.getelastic.com/the-5-dimensions-of-social-proof-on-ecommerce-sites/
- 9. #smwtrust
- 10. #smwtrust
- 11. #smwtrust
- 12. “75% of respondents would be deterred from buying after reading 3 bad reviews.” (Lightspeed Research 2008)
- 13. #smwtrust
- 15. 80% of consumers do research before buying *Google / Ipsos Study 2012 #smwtrust
- 18. 1. Ask the crowd 2. Encourage conversations 3. Show off 4. Use the negative Source: Demandforce #smwtrust http://www.marketingtechblog.com/social-website/
- 19. Everybody is writing reviews 47% of Britons have reviewed a product online * Sharing positive experiences is reviewers main motivation** 74% state that they write reviews because they want to share a good experience with other travellers 78% state that they write reviews because they feel good about sharing useful information with other travelers *Econsultancy, 2011 ** Tripadvisor #smwtrust
- 20. #smwtrust
- 21. Do’s • Polite, simple, short message. • Send invitation to review after package is received. • Personalize & Include image of sender. Dont’s • Offer reward for good reviews. • No other calls to action. • No external links.
- 22. #smwtrust
- 23. #smwtrust
- 24. #smwtrust
- 25. #smwtrust
- 26. #smwtrust
- 27. • There can be many “right” solutions. • Use A/B testing. • Don’t compete with your own call to action buttons. • External link to reviews on all pages, except checkout. • Show that reviews are from a third party.
- 28. Version A: without reviews Version B: with reviews Test by mogens-moeller.dk/ #smwtrust
- 29. Version A: without reviews Version B: with reviews Test by mogens-moeller.dk/ #smwtrust
- 30. Version A: without Facebook Version B: with Facebook Test by mogens-moeller.dk/ #smwtrust
- 31. Version A: without Facebook Version B: with Facebook Test by mogens-moeller.dk/ #smwtrust
- 32. #smwtrust
- 33. #smwtrust
- 34. #smwtrust
- 35. • Most companies over-estimate the significance of negative reviews.* • Lack of negative reviews is perceived as untrustworthy.* • One negative review replied to properly is worth 10 good reviews. * Forrester, 2010
- 36. • A review is read around 8.6 times in average. • Reply in a polite & timely manner. • Continue issue resolution in private. • 2/3 of consumers are happy to edit their review after issue resolution.
- 37. “we found out that our Italian partner was no good” “we found out that our cancelation procedures needed to be fixed” #smwtrust
- 38. #smwtrust
- 39. #smwtrust
- 40. Closed Open - Not Transparent - Transparent - Excluding - Participatory - “owned” by companies - “owned” by consumers - Communication - Conversation - Reputation - Consumer Advice management #smwtrust
- 41. #smwtrust
- 42. #smwtrust
- 43. #smwtrust
- 44. #smwtrust
- 45. fToday, the rates of fake reviews range from about 2% up to about 6%. Cornell University 2012 By 2014, 10% to 15% of social media reviews will be fake and paid for by companies. Gartner 2012 #smwtrust
- 46. Fact 1: 97% who made a purchase based on an online review found the review to be accurate (The Kelsey Group) Fact 2: Anyone can write a review on an open platform. Fake reviews happen. #smwtrust
- 47. Fact 1: 10+ Full time employees at Trustpilot works with review quality on a daily basis Fact 2: Advance processes capture suspicious reviews on any major review site. Machine learning Clustering Probability Models Behaviour Patterns Statistics #smwtrust
- 48. Fact 1: On Trustpilot reviews only get removed if they are fake or violating guidelines Fact 2: Companies can pay to automatically collect reviews from all customers Fact 3: Companies must follow service guidelines when collecting reviews #smwtrust
- 50. Your consumers will talk about you whether you want it or not Reputation and credibility can’t be faked or bought – for long Markets are conversations – Engage! Any feedback, positive or negative, is good feedback Channel external feedback into your company culture You have a business case! #smwtrust
- 51. Thank you @peter_holten @trustpilot #smwtrust
Editor's Notes
- #6: What I (we) believe inExamples:AirBnB, Taskrabbit, Fiverr, elance, car sharing, bike rental systems in big citiesKickstarter.com projects are great examples of trust in businessOr the Phone box changed into free libraries >> http://www.bbc.co.uk/news/uk-england-derbyshire-16364652We share info with each other (facebook login) we trust companies Trust is about building relationships, dialogue, ask questions, give answers, gain feedback from one to another etc.DK the country with the highest level of trust: maybe it all starts from here?
- #8: Facebook likes & reviewsIt can be a shop displaying “sold out” under items - increases the sense of urgencyHow many people bought it “The concept of social proof says that people are more likely to do business with you if there are clear indicators that other people are also doing business with you (and that doing business with you is safe)”
- #9: The closer you get, the more important it is
- #12: Experts are still valued, but can easily be “bought” a
- #14: So the number of webshops is explodingThere is a bigger need for navigate tools in this worldUsers are the best experts when it comes to online shopping as tehre are many small niche players who go after the long tails, like gantsblancs.fr, only seelingwhitye gloves and doing a great job at itOnline influenced offline sales
- #16: Consumers are more shopping savvy than ever, From price comparison websitesTo scanning their social network for recommandationsFrom geotargeted search (foursquare, yelp)To mobile commerce – check online what’s available offline etcThe typical customer journey is complex and needs real engegement in order to gain loyalty
- #22: This is not marketingThis is you wanting feedback
- #24: Infographic: http://www.digitalbuzzblog.com/infographic-the-psychology-of-social-commerce/In our head, it works like this: “If all these people is doing it, this must be good“.
- #29: An Independent conversion expert made a split test about the effect of social proof in the buying process
- #30: Why such a big difference?Positive customer reviews usually have a big effect when a potential customer needs to evaluate whether or not he dares to buy in a relatively unknown shop.It makes you feel less lonely in a webshop – you can see others have been before you.
- #31: An Independent conversion expert made a split test about the effect of social proof in the buying process – her an example with Facebook “fans” at the bottom of the page
- #32: An Independent conversion expert made a split test about the effect of social proof in the buying process – her an example with Facebook “fans” at the bottom of the page
- #35: The wisdom of the crowd never liesDiscussion blossom on brands on social mediaTrustpilot reviews can is the social proof to their discussions.
- #36: “Single bad reviews”
- #37: Unless the review is extreme or threatening, just reply.
- #39: and can be used for engaging with other customers, for marketing purposesGives them something to talk about
- #41: Great ending – summary – world is going from closed to open…Open however also means, can be manipulated…That is the one weakness.
- #43: http://www.youtube.com/watch?v=phaAO-3Dfak
- #45: You can fool all the people some of the time and some of the people all of the time, but you cannot fool all the people all the time."
- #50: Quality over anonymity People complain about facebook…