Gain, Maintain, and Retain: Why the future of your brand is powered by trust
•
1 j'aime•1,005 vues
While optimizing your overall strategy to remain on digital marketing trend is smart, the unwavering fact remains - acquiring and maintaining customers is based on trust. A simple concept that is by no means easy to achieve. Please join us for our upcoming webinar with Wpromote, to explore how your brand can gain, maintain and retain trust throughout the customer lifecycle. Attendees at this session will learn: -The connection among trust, brand advocacy and loyalty -Examples of customer success stories -Actionable insights and best practice
Recommandé
Recommandé
Contenu connexe
Tendances
Tendances (20)
Similaire à Gain, Maintain, and Retain: Why the future of your brand is powered by trust
Similaire à Gain, Maintain, and Retain: Why the future of your brand is powered by trust (20)
Plus de Trustpilot
Plus de Trustpilot (20)
Dernier
Dernier (20)
Gain, Maintain, and Retain: Why the future of your brand is powered by trust
- 1. November 19, 2015 GAIN, MAINTAIN & RETAIN Why the future of your brand is powered by trust
- 2. Presenters Michael Mothner Founder & CEO Wpromote Jonathan Hinz Director of Strategic Partnerships Trustpilot
- 4. Trustpilot by the Numbers
- 5. Agenda Trust, Brand Advocacy & Loyalty Why Reviews? The Age of the Consumer Becoming a Trusted Brand Best Practices Q&A
- 6. TRUST, BRAND ADVOCACY & LOYALTY
- 7. The Customer Lifecycle: Traditional Model Broad Keyword Intent Single Words, Generic Phrases Visitor Researching Specific Keyword Intent Detailed Search Phrases Visitor Engaged Exact Keyword Intent Precise Goal Phrases Visitor Ready To Buy!
- 8. The Customer Lifecycle: New Model
- 10. Advocate And post purchase or conversion is the ideal time leveraging social, email or directly on your site. To get shares, referrals and reviews - asking is the first step!
- 11. Loyalty A great product leads to happy, loyal customers. But customers need friendly reminders, inviting back to purchase. Drive loyalty through: • Retargeting • Email campaigns • Coupons • Social advertising • And more!
- 12. Why Reviews?
- 13. 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
- 14. 92% of people trust recommendations from people they know
- 15. 85% of Consumers Say They Read Up to 10 Reviews
- 16. The Age of the Consumer
- 17. The Age of the Consumer Consumers have more power than ever over a brand’s reputation. Forrester declares that “Companies must become customer obsessed and the only sustainable competitive advantage is knowledge and engagement with customers”
- 18. The Customer Voice is Amplified
- 19. Becoming a Trusted Brand
- 20. Becoming A Trusted Brand: Thrift Books
- 21. Becoming A Trusted Brand: Thrift Books
- 22. Best Practices
- 23. How to Use Reviews: Digital Media
- 24. How to use reviews: On Site
- 25. How to Use Reviews: Social Media
- 26. Best Practices for Trust
- 28. MAINTAIN Use a platform that shows ALL reviews A combination of positive and negative reviews works in multiple ways • Credibility • Avoiding backfire • Transparency Continually aggregate reviews to ensure freshness
- 29. RETAIN Reviews provide a wealth of customer data. Use data insights to make better business decisions. Create tailored experiences for your customer.
- 30. Q&A
- 31. THANK YOU!
Notes de l'éditeur
- Mike
- Mike
- HINZ: Trustpilot is the largest ecommerce review platform in world. The value we provide to businesses is simple. We connect our 120K businesses with consumers and help them build trust. For consumers we provide over 15M reviews from real and authenticated consumers just like them, providing them the additional level of confidence to make their next purchase. We’ve been doing this for over 8 years now and we’ve gotten really good at it, supporting clients like across retail and services sectors like Just Fab, Care.com, Dior, British Gas and B&H Photo
- HINZ Really excited about the agenda today as it’s focus is really about building brand. Whether it’s a funnel or a journey, or whatever marketing ideology you believe in, the simple fact is that with a billion other places to buy a product, customers won’t buy from businesses they don’t trust.
- HINZ Our research and experience shows that building trust all starts with reviews about your company and your products. In it’s most basic form, asking your consumers for their review and giving new customers a place to see those reviews is exactly like establishing a personal relationship Just like in a relationship, trust is always the foundation that needs to be established to create a positive environment for each party
- HINZ: We’re social creatures and we tend to make decisions based on the input and feedback of others We’re also bombarded by advertising everywhere we go and on every device we use. We need relevant information and context (burger example) and both of those come from reviews. So where do consumers go to get the information they need to make buying decisions? Clearly it’s not from advertsing, no, it’s from the people we know. Data Sources: https://today.yougov.com/news/2014/04/08/truth-advertising-50-dont-trust-what-they-see-read/ )
- HINZ: According to Nielsen’s Global Trust in Advertising, it’s from people we know 92% of respondents said they trust recommendations of friends and family 83% say they trust consumer opinions posted online This means consumers trust people they’ve never met before almost twice as much as your advertisments. WHY? It’s because we need others to help validate our decisions And that’s why word of mouth marketing is so pwoerful Data Sources: (http://www.nielsen.com/us/en/insights/reports/2015/global-trust-in-advertising-2015.html)
- HINZ: That 85% is a powerful number - people spending time researching if they should buy from you or not. And it’s not just postive reviews either Remember we talked about consumers needing context? They read a number of positive and negative reviews Negative reviews and how you respond plays a key role here. Our research shows that consumers don’t trust companies with perfect ratings. Additionally consumers need to see how you handle a negative situation as 86% of consumers report they will pay more for better customer service
- HINZ Let’s spend some time talking about who your customer is likely to be
- JHI: Forrester calls it “the age of the consumer” It’s a world where businesses will not survive without a maniacal focus on the consumer and their experience We’ve established that consumers trust their peers And that they’re doing their homwork on reviews as well\ As a society, we’re more connected than ever before and this significantly amplifies our voice
- JHI Millenials is one of the largest demographics 77 million strong, constituting 25% of the US population. According to research by Jeff Fromm of Millennial Marketing More than ⅔rd’s of millennials “don’t make a major decision until they have discussed it with a few people they trust” $1.3 trillion in annual buying power (Boston Consulting Group). More than 85 percent of millennials in the US own smartphones (Nielsen). US millennials touch their smartphones 45 times a day (SDL). Five out of six millennials in the US connect with companies on social media networks (SDL). Millennials in the US are seven times more likely to give their personal information to a trusted brand than to any other brand (SDL).
- So, that begs the question.. How do you become a Trusted Brand?
- HINZ: Trust is built through open and honest communication, and consumers want that relationship - however, this is no easy task. We recently did a case study with Thrift Books, the nation’s largest used book seller. When Thrift Books signed on with Trustpilot, the goal was to leverage reviews from past customers to establish trust with future customers and grow their business.
- HINZ: Thriftbooks has doated over 4M used books and has over 7M books in inventory and over 332M books sold. They are the largest ecommcerce provider of used books After partnering with Trustpilot, Thrift Books’: Gained 18,000 customer reviews Traffic to their site increased by 65% I can’t disclose their figures, but their Revenue increased by 100% Most importantly, they increased trust with their past customers and created awareness for future customers
- HINZ: So let’s talk about some ways to make this conversation more practical for you
- HINZ: You need to build trust at all customer touchpoints Adding reviews can increase clickthrough by up to 17% We strongly encourage our customers to use reviews Search and Display Ads Company & product (EXPLAIN WHY) Landing pages Email retargeting
- HINZ: Once you have consumers on your site, you need to keep them there and encourage them along the purchase journey. Homepage - Showing reviews on your homepage assures them you welcome reviews from your customers and want all to see Drop off points – keep engagement high and reduce loss of customers Product Pages – to provide context on the purchzse rhey are considering or making Testimonials page – to add an addiiotnal element of trust to your website Checkout page - Showing reviews on your purchase page helps push them from a ‘maybe’ to a ‘yes’ Our results show a 40% increase in revenue and a 15% decrease in shopping cart abandonment
- HINZ: 89 percent of consumers say interaction with a brand on social media has an impact on their purchase So what does your “INTERACTION” with consumers look like? We continue to use a medium (like social) to promote our products and services when it’s built as a relationship tool. Most are bullhorn messages Very few support interaction between customer and business The dynamic needs to change as consumers clearly look to social for more context about you and your business Give them the context they’re looking for by showing your reviews on social.
- HINZ: Trust is EARNED from your consumers. You can’t FORCE them to trust or buy from you - but you can make it a lot easier. Personalization is key It’s easy to forget customers are human, not SKU#23535. Responsiveness If you customer does have a bad experience, respond within 12 hours so they know you’re there and giving them the attention they need. Authenticity Which brings us to our next point, the resolution should fit their needs, not yours. This combination helps customers feel valued and creates loyalty because you are showing that you care about their experience. - Zappos example
- HINZ: Use a platform that shows all reviews - both positive & negative - this can be scary at first but it: Creates Credibility Customers find reviews more believable when not every review is 4&5 stars. Avoiding Backfire Hiding your negative reviews can only hurt you by not addressing potential issues that may have arisen that you perhaps are not even aware of Transparency In addition, by publicly responding to negative reviews, you show that you are willing to have a real and honest conversation with your customers for all to see, and you are willing to take their voice into account to make improvements Continually aggregate reviews to ensure freshness as customers will lose trust if they only see old reviews The combination of this provides an accurate view of that is seen by all.
- HINZ: Keeping a customer is worth 10 times as much as getting a new one. Whatever quote of the day you use here to support customer retention, the simple fact is that it matters, a lot. To keep customers coming back and create brand advocates - there is no one better to ask then your past customers. Reviews provide a wealth of customer data. Customers of ours like Thriftooks and Café Press have used it to change their business Digging in to that information will allow you to further customize interactions with current customers, help future customers and create targeted communications All based on what your customers want and provide service that is relevant to their needs. Ultimately acting this way will maintain your reputation as a trustworthy company. http://www.comscore.com/Insights/Press-Releases/2012/6/What-factors-influence-the-online-shopping-experience www.inc.com/ilan-mochari/pricing-online-shoppers.html
- Chris: Prepared questions (5-6)