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. Social Commerce Perspectives Do Consumers Trust Your Brand? Steve Semelsberger SVP & GM Social Products Group Integrated Customer Engagement
- 2. About Pluck Division of Demand Media (NYSE: DMD) Customer Engagement Platform Used by 600+ leading global brands Enables 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. 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. Consumer Distrust Growing Globally Source: Edelman Global Trust Barometer, 2012
- 5. The Customer Experience Gap 80% of corporate executives say their company delivers a superior customer experience Just 8% of consumers report they received one Source: Bain and Company
- 6. Drop of CEO Credibility, Rise of People Like Me Source: Edelman Global Trust Barometer, 2012
- 7. New Services Hone in On Trustability
- 8. New Services Hone in On Trustability
- 9. New Services Hone in On Trustability
- 10. New Services Hone in On Trustability
- 11. Trustability Varies by Source Nielsen asked 28,000 consumers about Trust and Research 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. 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. Traditional Marketing Mental Model Source: Google ZMOT Presentation, 2012
- 14. Consumer Research Explodes: 10.4 Sources Per Purchase ~2x increase YoY 14 Source: Google ZMOT Presentation, 2012
- 15. New “Four Moments” Mental Model Source: Google ZMOT Presentation, 2012
- 16. Consumers Commit to Research Across Verticals Source: Google ZMOT Presentation, 2012
- 17. Brands Realize Trust Matters of marketers agree that 84% building consumer trust will become their primary objective 1to1 Media Survey of Brands, 2011
- 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. 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 transactions TRAFFIC consuming useful content in the company of likeminded people New consumers are more creates emotional bonds attracted to your brand by trusted connections and content
- 20. Three Requirements For Growing Trust Intention Do the right thing Competence Do things right Proactively Without Prompt Source: Peppers & Rogers, 2012
- 21. Skepticism Requires Repetition Majority Require 3-5x Message Repeat to Believe Source: Edelman Global Trust Barometer, 2012
- 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. Your Website: Best Engagement (Forrester)
- 27. Offer Visibility
- 28. Five Social Commerce Pillars
- 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. Use Real Identities Encouraging Social Sign On leads to social experiences that are built upon real, trustable display names from Facebook and other services
- 33. Showcase Experience Award points and badges. Highlight users who have significant expertise. Nestlé awards “brownie points” to valuable contributors.
- 35. Eight More Things You Can Do Today
- 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. Offer Comments Sky News built a popular tribute to Steve Jobs using Comments
- 39. Invite Media Nike invites golf enthusiasts to upload videos of their swing, and then compare their form with friends’ or even pros’
- 40. Leverage Ratings & Scoring Content Scoring provides a path to credible and authoritative content on your 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. Integrate Member Profiles NBA fans enjoy robust profiles that highlight all activities, while letting them find, befriend and message each other.
- 43. Showcase Community Pages Kraft First Taste’s million members get exclusives on new products. Confidential and Proprietary
- 44. Future Company Trust Depends on Societal Work Source: Edelman Global Trust Barometer, 2012
- 45. Summary Company trust is challenged Social Commerce tactics include: Consumer expectations are rising • Embrace Identity • Highlight Relationships Brands realize they must strive for high trustability • Understand Attributes • Showcase Ownership Key requirements include: • Foster Expertise • Intent • Competence Leverage these tactics in: • Proactivity • Ratings & Reviews • Forums • Sharing • Social Sign-On • Gamification • More
- 46. Thank You Come 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