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PowerReviews, Inc. Confidential
Meet the Centennials:
Connecting with the Next
Generation of Shoppers
PowerReviews, Inc.
Ask Questions
• #PowerReviews on Twitter
• Post them in the questions panel on the right
of your screen. We will answer at the end.
• You will receive a link to the recorded
webinar.
2
PowerReviews, Inc.
Speaker
3
Theresa O’Neil, SVP of Marketing
Theresa is responsible for building and leading the
PowerReviews marketing team in the development and
execution of programs that increase awareness of the
PowerReviews brand and technology. Theresa brings more
than 20 years of experience developing marketing, sales
and business development strategy.
PowerReviews, Inc.
● Meet the Centennials
● Social media and reviews
● The shopping journey
● From browsers to buyers
● Engaging Centennials
● 4 keys to success
● Q&A
Agenda
4
PowerReviews, Inc.
The survey
1,747 US and 1,585 UK Millennials and Centennials
Goal:
Investigate the online and in-store shopping habits
of the Centennial generation, identifying how
brands & retailers can refine their marketing plans
to best influence this demographic.
Timing:
September 2015
5
PowerReviews, Inc.
Meet the Centennials
PowerReviews, Inc.
How are they different than Millennials?
Source: International Bureau Times, 2015.
High expectations
for information
Average access to
three screens
Technology provides Millennials
with a wider spectrum of options,
encouraging less brand loyalty
Aged 19-34
Discoverers of
technology where
options appeared
limitless
Pioneers of
social media
7
PowerReviews, Inc.
Who are the Centennials?
Source: International Bureau Times, 2015.
High expectations
for information -
instantly
Average access to
five screens
Equipped with tools
to seek out answers
and make informed
decisions
Aged 13-18
Born with
technology
Mobile-native
generation
8
PowerReviews, Inc. 9
I have specific initiatives for:
● Centennials
● Millennials
● Both
● Neither
PowerReviews, Inc.
Why should you care about Centennials?
Sources: U.S. Census Bureau, National Center for Biotechnology Information, U.S. National Library of Medicine, the Associated Press, JWT
10
25% 40%
They currently
make up a quarter
of the population
By 2020, they will
make up 40% of
the population
They contribute
$44 billion in
spending power
each year
PowerReviews, Inc.
Reviews as Social Content
PowerReviews, Inc. Confidential
Source: PowerReviews Centennial Shopper Study, 2015
Social content impacts purchase decisions
But not as much as reviews
Centennial Millennial
a written review on a
retailer/brand/product website
A friend’s post on a social
media channel
10% 20% 30% 40% 50% 10% 20% 30% 40% 50%
What type of reviews
do you trust most?
12
PowerReviews, Inc.
Starting the
Shopping Journey
PowerReviews, Inc.
Research first, spend later
Source: PowerReviews Centennial Shopper Study, 2015Source: PowerReviews Centennial Shopper Study, 2015
Centennial
20% 40% 60% 80% 100%
What is most true
about you? I tend to make spontaneous,
emotionally-driven purchases
I tend to take my time with most
purchases, researching price,
product reviews, etc.
14
PowerReviews, Inc.
Consumers are looking for reviews for...Where are they doing their product research?
5% 10% 15% 20% 25% 30% 35% 40% 45%
52%
Laptop or desktop computer
37%
Mobile phone
6%
In-store
5%
Tablet
50%
Centennials prefer to browse on a laptop or desktop computer
Source: PowerReviews Centennial Shopper Study, 2015
PowerReviews, Inc. Confidential
Why Reviews
70%
of Centennials say that
quality is more important
to them than price.
PowerReviews, Inc.
95% of Centennials
search and read reviews to
validate their product choice
How do they determine quality?
By reading reviews
Half of Centennials
won’t purchase a product if
there aren’t enough reviews
PowerReviews, Inc.
Where are they reading reviews?
Source: PowerReviews Centennial Shopper Study, 2015
Over a third want to see reviews directly on a
brand or retailer’s website
Source: PowerReviews Centennial Shopper Study, 2015
Centennial
0% 10% 20% 30% 40%
Where do you typically
search and view reviews?
On social media (Facebook,
Twitter, YouTube, etc.)
I never search or read reviews
Directly on the brand/retailer’s
website
On a 3rd party blog/website
(Amazon)
50% 60%
18
PowerReviews, Inc.
“If you fail to engage with
Centennials, they have the
independence and control to
conduct their entire shopping
journey without you.”
PowerReviews, Inc. 20
Key tips for engaging Centennial browsers
Emphasize quality and differentiation
Discuss the best qualities of your product, rather than exclusively low
pricing and delivery costs.
1
Engage early online
Tailor your website for research purposes and purchasing.2
Bolster your online presence
Ensure your website is mobile optimized so it’s easy to view and navigate
whenever your customer is.
3
PowerReviews, Inc.
Converting Centennial
Browsers to Buyers
PowerReviews, Inc.
Consumers are looking for reviews for...How much do Centennials value reviews?
5% 10% 15% 20% 25% 30% 35% 40% 45%
56%
Price
32%
Reviews
8%
Recognizable brand name
4%
Free shipping
Reviews are second only to price
50% 55%
Source: PowerReviews Centennial Shopper Study, 2015
PowerReviews, Inc.
58% of Centennials want to read
reviews when they’re unfamiliar
with a brand or retailer
Reviews are imperative for new products & brands
Source: PowerReviews Centennial Shopper Study, 2015
PowerReviews, Inc.
Instant answers or walk away
45%
of Centennials say
they won’t buy a
product if they can’
t ask a question
about it
2/3
of Centennials
prefer having their
questions
answered by
previous
customers
Source: PowerReviews Centennial Shopper Study, 2015
PowerReviews, Inc. 25
Consumers will find review content
Drugstore Ulta
If you don’t have the content, Amazon does
Source: PowerReviews Centennial Shopper Study, 2015
79%
of Centennials admitted
going straight to another
retailer or to Amazon if they
couldn’t ask a question on a
brand’s product page
PowerReviews, Inc. Confidential
Why Reviews
40%
of Centennials won’t
purchase a product if
there are no photos of
people using the
product.
Visual content is key
PowerReviews, Inc.
Back in store?
Centennials browse online but like to purchase in-store
Centennial Millennial
browsing for product online
purchasing in-store after
browsing online
20% 40% 60% 80% 100%
How are Centennials
browsing for products?
Source: PowerReviews Centennial Shopper Study, 2015
20% 40% 60% 80% 100%
27
PowerReviews, Inc. 28
Why are Centennials more likely to make their final
purchase in-store?
● Social activity (shopping with friends)
● Get the item immediately
● In-store/student discounts
● Purchase with cash
● Avoid shipping and return shipping fees
PowerReviews, Inc. 29
Key tips to turn Centennial browsers into buyers
Highlight new products
Validate fresh-to-market products with reviews.1
Turn customers into brand ambassadors
Make it easy for them to talk, source product reviews, share product images,
and ask and answer product questions.
2
Blur the lines between online and in-store
Create marketing campaigns that recognize that Centennials will browse
online, then may buy in-store.
3
PowerReviews, Inc.
Getting Centennials
Engaged
PowerReviews, Inc.
Centennials reluctant to engage
23%
would be more
likely to leave a
review if given an
incentive
62%
haven’t written an
online review in
the past month
Source: PowerReviews Centennial Shopper Study, 2015
PowerReviews, Inc.
When are Centennials most likely to leave reviews?
5% 10% 15% 20% 25% 30% 35% 40% 45%
37%
I was unhappy with the product
23%
I had an incentive, such as a discount on future purchases or free sample
21%
I was happy with the product
19%
I spent a lot of money on the purchase or time considering the purchase
50% 55%
When they are unhappy or encouraged
Source: PowerReviews Centennial Shopper Study, 2015
PowerReviews, Inc.
Negative reviews have their part to play
44% of Centennials said they wouldn’t trust a product’s reviews if there
were no negative reviews present
60% of Centennials read negative reviews first.
4.2-4.5 is the average ideal star rating
Sources: PowerReviews & Northwestern University, From Reviews to Revenue Report, 2015; PowerReviews Centennial Shopper Study, 2015
33
PowerReviews, Inc. 34
Does your organization respond to negative reviews?
● Yes
● No
PowerReviews, Inc. Confidential
Key tips to keep Centennials engaged
Motivate shoppers
Offer discounts or free samples to help generate reviews and images1
Be transparent and authentic
Don’t remove negative reviews, and indicate if incentives were provided to
the review writer.
2
3
35
Respond
Engage with reviewers to resolve problems and build brand relationships.
PowerReviews, Inc.
What can you do now?
PowerReviews, Inc. 37
Put review content front and center
to meet the needs of Centennial shoppers
1
PowerReviews, Inc. 38
Optimize your website for mobile
so Centennials can find what they’re looking for, regardless of the
device they’re using
2
PowerReviews, Inc. 39
Collect Photos and Videos
as part of reviews, as Centennials like to engage with visual content
3
PowerReviews, Inc. 40
Insist on Transparency and Authenticity
don’t delete reviews and indicate when a review resulted from a
promotion or free sample
4
PowerReviews, Inc.
Ask Questions
• #PowerReviews on Twitter
• Post them in the questions panel on the right
of your screen. We will answer at the end.
• You will receive a link to the recorded
webinar.
41
PowerReviews, Inc.
Questions?
PowerReviews, Inc.
www.PowerReviews.com/genz
PowerReviews, Inc.
Thank you.
www.powerreviews.com
www.powerreviews.com/blog

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Meet the Centennials: Connecting with the Next Generation of Shoppers

  • 1. PowerReviews, Inc. Confidential Meet the Centennials: Connecting with the Next Generation of Shoppers
  • 2. PowerReviews, Inc. Ask Questions • #PowerReviews on Twitter • Post them in the questions panel on the right of your screen. We will answer at the end. • You will receive a link to the recorded webinar. 2
  • 3. PowerReviews, Inc. Speaker 3 Theresa O’Neil, SVP of Marketing Theresa is responsible for building and leading the PowerReviews marketing team in the development and execution of programs that increase awareness of the PowerReviews brand and technology. Theresa brings more than 20 years of experience developing marketing, sales and business development strategy.
  • 4. PowerReviews, Inc. ● Meet the Centennials ● Social media and reviews ● The shopping journey ● From browsers to buyers ● Engaging Centennials ● 4 keys to success ● Q&A Agenda 4
  • 5. PowerReviews, Inc. The survey 1,747 US and 1,585 UK Millennials and Centennials Goal: Investigate the online and in-store shopping habits of the Centennial generation, identifying how brands & retailers can refine their marketing plans to best influence this demographic. Timing: September 2015 5
  • 7. PowerReviews, Inc. How are they different than Millennials? Source: International Bureau Times, 2015. High expectations for information Average access to three screens Technology provides Millennials with a wider spectrum of options, encouraging less brand loyalty Aged 19-34 Discoverers of technology where options appeared limitless Pioneers of social media 7
  • 8. PowerReviews, Inc. Who are the Centennials? Source: International Bureau Times, 2015. High expectations for information - instantly Average access to five screens Equipped with tools to seek out answers and make informed decisions Aged 13-18 Born with technology Mobile-native generation 8
  • 9. PowerReviews, Inc. 9 I have specific initiatives for: ● Centennials ● Millennials ● Both ● Neither
  • 10. PowerReviews, Inc. Why should you care about Centennials? Sources: U.S. Census Bureau, National Center for Biotechnology Information, U.S. National Library of Medicine, the Associated Press, JWT 10 25% 40% They currently make up a quarter of the population By 2020, they will make up 40% of the population They contribute $44 billion in spending power each year
  • 12. PowerReviews, Inc. Confidential Source: PowerReviews Centennial Shopper Study, 2015 Social content impacts purchase decisions But not as much as reviews Centennial Millennial a written review on a retailer/brand/product website A friend’s post on a social media channel 10% 20% 30% 40% 50% 10% 20% 30% 40% 50% What type of reviews do you trust most? 12
  • 14. PowerReviews, Inc. Research first, spend later Source: PowerReviews Centennial Shopper Study, 2015Source: PowerReviews Centennial Shopper Study, 2015 Centennial 20% 40% 60% 80% 100% What is most true about you? I tend to make spontaneous, emotionally-driven purchases I tend to take my time with most purchases, researching price, product reviews, etc. 14
  • 15. PowerReviews, Inc. Consumers are looking for reviews for...Where are they doing their product research? 5% 10% 15% 20% 25% 30% 35% 40% 45% 52% Laptop or desktop computer 37% Mobile phone 6% In-store 5% Tablet 50% Centennials prefer to browse on a laptop or desktop computer Source: PowerReviews Centennial Shopper Study, 2015
  • 16. PowerReviews, Inc. Confidential Why Reviews 70% of Centennials say that quality is more important to them than price.
  • 17. PowerReviews, Inc. 95% of Centennials search and read reviews to validate their product choice How do they determine quality? By reading reviews Half of Centennials won’t purchase a product if there aren’t enough reviews
  • 18. PowerReviews, Inc. Where are they reading reviews? Source: PowerReviews Centennial Shopper Study, 2015 Over a third want to see reviews directly on a brand or retailer’s website Source: PowerReviews Centennial Shopper Study, 2015 Centennial 0% 10% 20% 30% 40% Where do you typically search and view reviews? On social media (Facebook, Twitter, YouTube, etc.) I never search or read reviews Directly on the brand/retailer’s website On a 3rd party blog/website (Amazon) 50% 60% 18
  • 19. PowerReviews, Inc. “If you fail to engage with Centennials, they have the independence and control to conduct their entire shopping journey without you.”
  • 20. PowerReviews, Inc. 20 Key tips for engaging Centennial browsers Emphasize quality and differentiation Discuss the best qualities of your product, rather than exclusively low pricing and delivery costs. 1 Engage early online Tailor your website for research purposes and purchasing.2 Bolster your online presence Ensure your website is mobile optimized so it’s easy to view and navigate whenever your customer is. 3
  • 22. PowerReviews, Inc. Consumers are looking for reviews for...How much do Centennials value reviews? 5% 10% 15% 20% 25% 30% 35% 40% 45% 56% Price 32% Reviews 8% Recognizable brand name 4% Free shipping Reviews are second only to price 50% 55% Source: PowerReviews Centennial Shopper Study, 2015
  • 23. PowerReviews, Inc. 58% of Centennials want to read reviews when they’re unfamiliar with a brand or retailer Reviews are imperative for new products & brands Source: PowerReviews Centennial Shopper Study, 2015
  • 24. PowerReviews, Inc. Instant answers or walk away 45% of Centennials say they won’t buy a product if they can’ t ask a question about it 2/3 of Centennials prefer having their questions answered by previous customers Source: PowerReviews Centennial Shopper Study, 2015
  • 25. PowerReviews, Inc. 25 Consumers will find review content Drugstore Ulta If you don’t have the content, Amazon does Source: PowerReviews Centennial Shopper Study, 2015 79% of Centennials admitted going straight to another retailer or to Amazon if they couldn’t ask a question on a brand’s product page
  • 26. PowerReviews, Inc. Confidential Why Reviews 40% of Centennials won’t purchase a product if there are no photos of people using the product. Visual content is key
  • 27. PowerReviews, Inc. Back in store? Centennials browse online but like to purchase in-store Centennial Millennial browsing for product online purchasing in-store after browsing online 20% 40% 60% 80% 100% How are Centennials browsing for products? Source: PowerReviews Centennial Shopper Study, 2015 20% 40% 60% 80% 100% 27
  • 28. PowerReviews, Inc. 28 Why are Centennials more likely to make their final purchase in-store? ● Social activity (shopping with friends) ● Get the item immediately ● In-store/student discounts ● Purchase with cash ● Avoid shipping and return shipping fees
  • 29. PowerReviews, Inc. 29 Key tips to turn Centennial browsers into buyers Highlight new products Validate fresh-to-market products with reviews.1 Turn customers into brand ambassadors Make it easy for them to talk, source product reviews, share product images, and ask and answer product questions. 2 Blur the lines between online and in-store Create marketing campaigns that recognize that Centennials will browse online, then may buy in-store. 3
  • 31. PowerReviews, Inc. Centennials reluctant to engage 23% would be more likely to leave a review if given an incentive 62% haven’t written an online review in the past month Source: PowerReviews Centennial Shopper Study, 2015
  • 32. PowerReviews, Inc. When are Centennials most likely to leave reviews? 5% 10% 15% 20% 25% 30% 35% 40% 45% 37% I was unhappy with the product 23% I had an incentive, such as a discount on future purchases or free sample 21% I was happy with the product 19% I spent a lot of money on the purchase or time considering the purchase 50% 55% When they are unhappy or encouraged Source: PowerReviews Centennial Shopper Study, 2015
  • 33. PowerReviews, Inc. Negative reviews have their part to play 44% of Centennials said they wouldn’t trust a product’s reviews if there were no negative reviews present 60% of Centennials read negative reviews first. 4.2-4.5 is the average ideal star rating Sources: PowerReviews & Northwestern University, From Reviews to Revenue Report, 2015; PowerReviews Centennial Shopper Study, 2015 33
  • 34. PowerReviews, Inc. 34 Does your organization respond to negative reviews? ● Yes ● No
  • 35. PowerReviews, Inc. Confidential Key tips to keep Centennials engaged Motivate shoppers Offer discounts or free samples to help generate reviews and images1 Be transparent and authentic Don’t remove negative reviews, and indicate if incentives were provided to the review writer. 2 3 35 Respond Engage with reviewers to resolve problems and build brand relationships.
  • 37. PowerReviews, Inc. 37 Put review content front and center to meet the needs of Centennial shoppers 1
  • 38. PowerReviews, Inc. 38 Optimize your website for mobile so Centennials can find what they’re looking for, regardless of the device they’re using 2
  • 39. PowerReviews, Inc. 39 Collect Photos and Videos as part of reviews, as Centennials like to engage with visual content 3
  • 40. PowerReviews, Inc. 40 Insist on Transparency and Authenticity don’t delete reviews and indicate when a review resulted from a promotion or free sample 4
  • 41. PowerReviews, Inc. Ask Questions • #PowerReviews on Twitter • Post them in the questions panel on the right of your screen. We will answer at the end. • You will receive a link to the recorded webinar. 41