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Rise of the Digital Consumer: Protect & Enhance Your Online Business Reputation

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In this webinar, we showcase how Reputation Management Platform (RMP™) can help Consumer Goods organizations capture insights on consumer perception of their brands and their competitors’ while enabling them to enhance their brand reputation by rapidly responding to negative reviews and cross-pollinating positive reviews and ratings across online channels

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Rise of the Digital Consumer: Protect & Enhance Your Online Business Reputation

  1. 1. CIGNEX Datamatics Confidential www.cignex.com Rise of the Digital Consumer: Protect & Enhance Your Business Reputation 5/21/2015 Name: Vikram Samant Title: EVP – Open Source Solutions
  2. 2. CIGNEX Datamatics Confidential www.cignex.com Digital Consumer Dynamics Explosive Growth of Social Media The rise of Price comparison Websites Influence of Review websites Consumers want Transparency Security & Privacy Concerns Multi-Channel Buying Decisions Demand Omni- Channel Experience Change in Consumer Demographics
  3. 3. CIGNEX Datamatics Confidential www.cignex.com3 Driving Engagement with Gen Y – Challenges 64% CG execs report that gaining Gen Y loyalty will take more than just delivering on brand promise 44% believe that lack of strong engagement in social channels favored by Millenials is the biggest challenge 33% think that they are not effective in digital marketing and communications 71% CG execs report that they do not understand the complete path to purchase of the Millenial shopper admit that they do not have a direct to consumer engagement strategy 42% CG enterprises need to adopt a Direct to Consumer Engagement Strategy Source: CGT Aug 2014 Survey
  4. 4. CIGNEX Datamatics Confidential www.cignex.com4 The CPG Consumer Disconnect Only 25% CG Executives reported using search engine tools to interact with customers A mere 19% CG Executives said that they use independent websites to engage customers 69% and 46% of consumers reported respectively that search engines and independent websites were their most preferred channels to learn about and compare products Source: Marketingcharts.com &
  5. 5. CIGNEX Datamatics Confidential www.cignex.com Online Reputation Management (ORM) is the practice of crafting strategies that shape or influence the public perception of an organization, individual or other entity on the Internet. It helps drive public opinion about a business and its products and services. 5 What is Online Reputation Management? Reference: Technopedia
  6. 6. CIGNEX Datamatics Confidential www.cignex.com6 Importance of Online Reputation Management Tried the new juicer. Refreshing! Loved it!! Ratings & Reviews 87% Of executives rate Reputation risk as more important than other strategic risks.** 84% of buyers are influenced by consumer written reviews 71% Of consumers change their brand perception after seeing a brand response to a review 70% People trust the opinions of other consumers To Buy or Not to Buy: The Decision has taken place before you knew about it. ***Local Consumer Review Survey 2014, Bright Local Study Moments of Truth 62% of millenials already know what they want before entering a store
  7. 7. CIGNEX Datamatics Confidential www.cignex.com7 Link Between Reputation and Business Performance Over the past 5 years, companies with leading reputations achieved shareholder returns 100% higher than competitors and outperformed the S&P by over 88% Courtesy: prophet.com
  8. 8. CIGNEX Datamatics Confidential www.cignex.com8 Tell Tale Signs of a Reputation Apocalypse Increased Negative Sentiment Shrinking Leads or Conversions Increased Customer Service issues Increased Competitor Positive Sentiment Negative reviews show up more than positives Responding late to Negative Reviews Not having a consolidated, real time view of your online reputation
  9. 9. CIGNEX Datamatics Confidential www.cignex.com9 Reputation Mismanagement Can this happen to your business? A multinational food and beverage company failed to address negative comments about its environmental policies, attracting a backlash from the public. This forced them to suspend activity on their public page. A Korean electronics giant was fined upwards of $300,000 for hiring people to write misleading & exaggerated reviews about their products and degrading ones about competitor products A leading US baking company aggressively reacted to negative reviews and comments which was eventually picked up by the local news. Publicity for all the wrong reasons.
  10. 10. CIGNEX Datamatics Confidential www.cignex.com Build, Monitor, Manage and Amplify your business reputation 10 Extracts real time reviews of brands, products and services from hundreds of online review websites allowing YOU to make informed decisions, track your competitor, manage launch day sentiment, plan actionable campaigns and ultimately increase your online reputation.
  11. 11. CIGNEX Datamatics Confidential www.cignex.com11 Improve Consumer Engagement & Drive Brand Loyalty Encourage Customer Reviews Encourage 50% of your daily customers who had a good experience to write a review Quick Response Respond to unhappy customers by being transparent, honest and providing them an incentive like a free coupon/discount Watch, real time. Respond, real time. MultiChannel Reviews Provide your customers the option to write a review over email, sms, web, mobile,kiosk etc CRM Run frequent campaigns and promotions to improve loyalty and realize lifetime value
  12. 12. CIGNEX Datamatics Confidential www.cignex.com12 Analyze Consumer Feedback for Insights & Decisions Identify best & worst performing geos by ratings & reviews Track consumer sentiment in real time Identify review websites that attract most negative/positive reviews Identify positive & negative keywords most used by your customers Benchmark ratings & reviews against competition
  13. 13. CIGNEX Datamatics Confidential www.cignex.com13 Proactively Manage your Brand’s Online Reputation Watch, real time. Respond, real time. Cross pollinate 4 & 5 star reviews Push positive reviews to Google+, Facebook, Twitter etc Identify weak links Identify & correct weaknesses in your Marketing & Operations Monitor popular review websites for negative comments. Monitor Review Sites Create your own branded website listing to improve reputation and drive new business Branded Site listing for Reputation Management
  14. 14. CIGNEX Datamatics Confidential www.cignex.com14 Real Time Dashboards Competitive Analysis Reputation Geo Map Frequent Keywords Sentiments Over Time
  15. 15. CIGNEX Datamatics Confidential www.cignex.com15 All your reviews from multiple sources…..on one page
  16. 16. CIGNEX Datamatics Confidential www.cignex.com16 Sentiment co-relation
  17. 17. CIGNEX Datamatics Confidential www.cignex.com17 Analysis by Category Understanding what contributes to your score Create campaigns that highlight the positives Identify initiatives that can improve lagging areas
  18. 18. CIGNEX Datamatics Confidential www.cignex.com International provider of home, home office, business products, and industrial solutions - BEFORE: • The marketing team manually collects feedback from 50+ retail sites for a few products. Spends weeks analyzing data to generate actionable insights. Comparisons against competitive products is a serious challenge. AFTER: • Auto receiving reviews for 200 products from 50+ sites on a real time basis. Instantaneous alerts to negative reviews and able to address them, while promoting and cross posting positive reviews. • Can quickly analyze which keywords have contributed to the sentiment, funnel them in order of impact and take corrective action. • Armed with comparatives of keywords/reviews regarding their top 3 competitors products and can now tailor their marketing campaigns to highlight the right areas. 18 Case Study All within 20 days
  19. 19. CIGNEX Datamatics Confidential www.cignex.com About CIGNEX Datamatics 19
  20. 20. CIGNEX Datamatics Confidential www.cignex.com20 CIGNEX Datamatics 0 8 #1 14 License Cost Option Open Source Products Open Source Consultants Pure Play Open Source Services Company Open Source Implementations Global Offices Open Source Community Contributions Open Source Books Authored Business Engagement Platforms 13+ 5+ 5000+ 500+ 450+
  21. 21. CIGNEX Datamatics Confidential www.cignex.com21 Our Capability Portals & Collaboration Portals Enterprise Integration Identity Relationship Management Business Engagement Platform Digital Engagement Platform (DxEP) Employee | Supplier | Customer | Partner Franchise Management Platform (FMP™ Reputation Management Platform RMP™ Big Data Big Data Integration & Delivery Platform (BigD)D™ Open Source Consulting Application Modernization OpeRA™ - Open Source Readiness Assessment Legacy Migration Application Development & Management Services Development, Support, Refresh, Performance Management and Managed Cloud Services Testing UI/UX Solutions Platforms Services Enterprise Content Management Document Management Web Content Management Learning/Knowledge Management Imaging and Scanning - OCR/Digitization Enterprise Search BPM/Workflow E-Commerce B2B and B2C Omni-channel Analytics Big Data Analytics Data Integration, DQM, MDM Data Storage, DW Reporting Analytics
  22. 22. CIGNEX Datamatics Confidential www.cignex.com Thank you facebook.com/CIGNEXTechnologies youtube.com/cignexglobaltwitter.com/cignexwww.cignex.com Contact Us Sales: sales@cignex.com | Others – info@cignex.com www.cignex.com