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How to Turn Knowledge into Data: Customer Reviews

What's in a Review? Drawing marketing insights from your consumer generated content. Learning to see, going beyond the starts, how to find feedback, creating value for customers while getting business value.

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How to Turn Knowledge into Data: Customer Reviews

  1. 1. @ConversationAge What’s in a Review? Drawing Marketing Insights from CGC. Valeria Maltoni | Founder & CEO
  2. 2. @ConversationAge Once upon a time… participated in community discussions & read reviews on wine sites.
  3. 3. @ConversationAge - How do I buy good wines? - How do I discover new wines? - How do I find the same wines I enjoyed? - They don’t make the wine I loved anymore. What’s similar? MOST COMMON QUESTIONS
  4. 4. @ConversationAge Robert Parker, the “one million dollar nose” The Wine Advocate from August 1978 to today (other experts) How Parker solves the problem: ü rates and reviews wines ü read about new wines ü find wines you like(?) ü find similar wines (?) Plus, what you get: o create a profile at his site o get discounts What Parker gets: + personal prestige by association + user data + traffic to its online store
  5. 5. @ConversationAge DELECTABLE VIVINO How the apps solve the problem: ü find better rated wines ü discover new wines ü save the wines you like ü find similar wines Plus, what you get: o recommend wines o get data on your taste What apps get: + collect data + enable transactions
  6. 6. @ConversationAge • Find new wines to try: Category-based “flash sales” • Remove uncertainty: Social curation by experts • Make it easy: Local deals/coupons • Inspiration for family/friend anniversaries: Frequent updates • Ability to ID wines: Interactive features • Ability to bookmark: Email notifications • Holiday gift ideas: High touch • Reward discovery: Loyalty levels • Reward discovery: “Reward points” • Personalized suggestions • Bridge experience-to-purchase gap: Smart search, Taste profile • Refills within similar taste: Wish list, Favorites • Community tie-in: Purchase via social, Contests
  7. 7. @ConversationAge GaryVee’s Wine Library February 2006 to March 2011 then Daily Grape more in line with his lifestyle How GaryVee solves the problem: ü helps you learn wine tasting ü so you can discover new wines ü learn to find wines you like ü find similar wines Plus, what you get: o discover your taste o have fun learning What he gets: + increased sales in his store + collaborations with chefs, etc. + and much more
  8. 8. @ConversationAge GaryVee’s Daily Grape more in line with his lifestyle and how we consume information
  9. 9. How do we turn knowledge into data? 1 Learning to see 2 Going beyond the stars 3 How to find the feedback 4 Customer value / business growth
  10. 10. @ConversationAge 1 LEARNING TO SEE
  11. 11. @ConversationAge > sources
  12. 12. @ConversationAge > choices
  13. 13. @ConversationAge > tools
  14. 14. @ConversationAge > options
  15. 15. @ConversationAge >> connected
  16. 16. @ConversationAge >> when making decisions q who am I? q what kind of situation is this? q what would someone like me do in this situation?
  17. 17. @ConversationAge >> identity & behavior inform “what does this mean to me?” “what should I do?”
  18. 18. @ConversationAge >> our answer changes based on context
  19. 19. @ConversationAge >> trade-off between being connected & informed and privacy “I know what I want” “What are the best sites to find product reviews?”
  20. 20. @ConversationAge >> but that trade-off comes with expectations
  21. 21. @ConversationAge >> people bring their whole selves to experiences Occupation Education Home Life Pain points Key Tasks/intent/motivation AGE REAL WORLD DIGITAL OTHER FAMILY FRIENDS OTHER
  22. 22. @ConversationAge PROVISIONAL PERSONA Novelty Seeker • Shops withan open mindand a limitedagenda. Might just have timeto kill. Loves to sort through inventory and see what is new and interesting. Lives for the magic of finding a unique piece at a great discount (even if it stills costs $150) and a great color. SUMMARY • New arrivals Facebook and G+ notifications • “Serendipitous merchandising” withthumb’s up, thumb’s down • “Popular on Pinterest” merchandising module to expose more gems • Leveraging Great Find concept via Twitter, Instagram SOCIAL TACTICS • “I get a real high when I score an amazing item.” • “I never know what I might come home with. It’s exciting” • “I love hunting for treasures.” OVERHEARD
  23. 23. @ConversationAge • Creative and independent from a style point of view. Knows what she wants or is on a mission tofindit. Comes because she can find the latest trends in unique designs and can buy sets without looking like an ad for a DYI catalog. Loves the variety and the constant turn over of inventory keeps her coming her coming back. SUMMARY •Strong composition cross sell •Trends and styles editorial content • Personalized recommendations •“Pin it” button to share unique décor ideas with friends •Shops by occasion / theme or widget SOCIAL TACTICS •“They have really different things. Unique stuff.” •“I can put together an ensemble and findmatching seasonal accessories.” OVERHEARD PROVISIONAL PERSONA Self Expressionist
  24. 24. @ConversationAge 2 GOING BEYOND THE STARS
  25. 25. @ConversationAge
  26. 26. @ConversationAge >> think larger context Why would people use the product / service? Book on public speaking Stock photo site Data visualization software Spreadsheet app making great presentations Adapted from Badass: Making Users Awesome, Kathy Sierra
  27. 27. @ConversationAge >> what customer-centered means Business claim What they mean What customers want > mean World-class customer service World-class customer service World-class customer service Adapted from Badass: Making Users Awesome, Kathy Sierra
  28. 28. @ConversationAge Saw your presentation: amazing. What ___ did you use? [Kathy Sierra] >> word of obvious
  29. 29. @ConversationAge >> readers like me
  30. 30. @ConversationAge
  31. 31. @ConversationAge >> media = people like me
  32. 32. @ConversationAge Why is what customers tell each other is so important?
  33. 33. @ConversationAgeThe Intention Economy, Doc Searls – figures 23-1 & 23-2
  34. 34. @ConversationAge >> when talk is cheap
  35. 35. @ConversationAge SURVEY - brand-centric - what customers are willing to tell you REVIEW - experience-centric - what people tell each other
  36. 36. @ConversationAge >> this is why I’m here, it’s at the end
  37. 37. @ConversationAge >> the beginning is where it gets interesting
  38. 38. @ConversationAge 3 HOW TO FIND THE FEEDBACK
  39. 39. @ConversationAge >> customers have been telling us all along what customer have access to Adapted from: Tom Duncan, IMC: Using Advertising and Promotion to Build Brands, 2002
  40. 40. @ConversationAge >> product could be even better
  41. 41. @ConversationAge >> you won’t regret… the seller
  42. 42. @ConversationAge >> why service is (still) special in social
  43. 43. @ConversationAge >> give readers some credit
  44. 44. @ConversationAge >> what’s fair is fair
  45. 45. @ConversationAge >> extreme hyperbole >> substance free
  46. 46. @ConversationAge
  47. 47. @ConversationAge >> retaliating for negative reviews
  48. 48. @ConversationAge Most problems we can spot in reviews are about (not) keeping promises.
  49. 49. @ConversationAge 36.03% Success rate. 103,523 projects funded successfully. $2,305,904,465 total dollars pledged. Kickstarter, April 10, 2016. Source: https://www.kickstarter.com/help/stats
  50. 50. @ConversationAge >> words that work exhibit more social, cognitive, affective or emotional & sensory or perceptual processes FUNDED NOT FUNDED mention your name in the [film, program, introduction, thank you section, acknowledgment section, credits of the film] not been able [to finish the film] pledgers will have [their pick, a special credit], pledgers will [get, also receive, have] hope to get [them all made in time] also receive two [free, full passes, tickets, copies of] even a dollar [short, will, can] good karma and we can afford dressed up [as celebrities, in period clothing] [with your help] this project will be [a success] need one The Language that Gets People to Give: Phrases that Predict Success on Kickstarter
  51. 51. @ConversationAge https://www.kickstarter.com/projects/597507018/pebble-time-awesome-smartwatch-no-compromises Goal: $100,000in 40 days Goal:$500,000in 40 days >> pledge goals help assess if there is a market + product is born with built-in community
  52. 52. @ConversationAge >> but, you have to deliver
  53. 53. @ConversationAge >> your options
  54. 54. @ConversationAge >> “so what?” Does his research Knows real issue Gets results
  55. 55. @ConversationAge >> in a 3 to 2 vote, Net Neutrality has won at the FCC
  56. 56. @ConversationAge 4 CUSTOMER VALUE / BUSINESS GROWTH
  57. 57. @ConversationAge “Any new technology, any extension or amplification of human faculties when given material embodiment, tends to create a new environment. ” [Marshall McLuhan]
  58. 58. @ConversationAge >> how we (should) build experiences 2007 Branch Call Center ATM Customer Mobile Internet 2015 Life Stage Needs Advice & Services Advice & Services Advice & Services { Point-of-Sale Point-of-Need
  59. 59. @ConversationAge >> upgrade the customer What customers want World-class customer serviceDIGITAL HUB 3.0 § Accessory-like (additive) § Cellular connectivity § Polished UI § App ecosystem Does not require anyone to change behavior – yet.
  60. 60. @ConversationAge >> converge message & incentive BRAND • Point of usage advantage CUSTOMER • Convenient + free • Buy from Amazon with confidence (selection + low prices) PLATFORM
  61. 61. @ConversationAge Customers ContentChannels SHAREWebsites & Microsites Guided Selling Tools Shoppable Videos Search Email Marketing Branded Community INVOLVE RESEARCH Word-of-Mouth Social Media Streams Messaging Apps Photo / Video Sharing Mobile apps Event Experiences Retail ShoppingRELEVANCE Relevance at the Intersection of Discovery, Engagement, and Action Video Tutorials Blogs Consumer Generated Content Expert Advice Product Finders / Fitters Product / Service Reviews Interactive Apps
  62. 62. @ConversationAge 1. How to identify a problem to solve 2. Then break it down into actionable parts based on online conversations 3. Analyze how existing experts and tools solve the problem 4. To uncover potential gaps 5. We can address either with a new product, service, and/or alternative point of view What have we learned?
  64. 64. Strategist & Marketer I believe in helping businesses rediscover the value of promises and their effect on relationshipsand culture. VALERIA MALTONI
  65. 65. @ConversationAge QUESTIONS ?