Reevoo: why brands are choosing independent consumer reviews
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A presentation from Richard Anson, CEO of Reevoo, demonstrating that independent consumer reviews really can drive sales
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Reevoo: why brands are choosing independent consumer reviews
- 2. Reevoo: A brief introduc1on • c. 1 million genuine reviews from real shoppers • > 300 electrical categories • We publish all product reviews, good and bad • All our reviews are from genuine confirmed purchasers • > 90 retailers and manufacturers
- 4. An Interna1onal PlaJorm ICELAND SWEDEN NORWAY FINLAND ESTONIA LATVIA RUSSIA DENMARK LITHUANIA IRELAND NETHERLANDS ENGLAND POLAND GERMANY BELGIUM LICHTENSTEIN CZEK REPUBIC SLOVAKIAY FRANCE AUSTRIA SWITZERLAND HUNGARY SLOVENIA RUMANIA CROATIA BOSNIA AND YUGOSLAVIA ITALY HERZEGOVINA ANDALUCIA BULGARIA PORTUGAL MAKEDONIA TURKEY SPAIN ALBANIA GREECE 4
- 5. Agenda • Reevoo – a brief intro • The case for verified, trusted reviews • 4 factors for success • Reviews forming the corner stone of a social media strategy • Customer reviews in a mul1‐channel world • What the future holds
- 11. Consumers trust the views of other consumers more than words of a brand • Yankelovich Research January 2007 New York City dweller: Exposed to 5,000 ads per day • Global Nielsen Survey 26,486 internet users in 47 markets = Consumer recommenda1ons are the most credible form of adver1sing among 78% of respondents • Customers talking about your products, will drive sale from other consumers • Enabling customers to review products or share personal experience on a website not only engages customers with a brand, but this context helps others make purchasing decisions
- 12. Reviews have a measurable, drama1c impact on conversion rates Conversion Rates For People Who Conversion Rates For Sites with Read Reviews Reviews 3.3% +9% 1.2% 1.2% 1.3% People who don't read People who read Site without reviews Site with reviews reviews reviews So one impact of reviews is more sales
- 13. Most products are good or excellent; reviews help them confirm and contextualise their quality DistribuCon of Review Scores Across Products Number of Products <6 6 7.5 7.6 9 9.1> Product Average Score BAD MEDIOCRE GOOD EXCELLENT What is the impact of review scores on product selec1on?
- 14. Excellent products, if iden'fied and contextualised by reviews, sell 2.7 1mes as well as mediocre products Conversion Rate by Product When People Read Reviews 2.7x 5.1% 3.3% 1.9% 1.3% 0.6% Average Conversion when users do not read reviews Bad Mediocre Good Excellent
- 15. So what? Reviews drive more sales of Reviews ensure fewer “bad” “good” and “excellent” or “mediocre” products products Higher sales (long and short term) Reduced returns Increased customer saCsfacCon Increased loyalty
- 17. Agenda • Reevoo – a brief intro • The case for verified, trusted reviews • 4 Factors for success – Gaining and maintaining trust – Quality and quan1ty (aka coverage) – Distribu1ng those reviews as widely as possible – Driving traffic • Reviews forming the corner stone of a social media strategy • Customer reviews in a mul1‐channel world • What the future holds
- 19. Fines, Bad PR and the Law Fined $300,000 Unfair Business‐to‐Consumer Commercial Prac1ces Direc1ve 2005/29/EC
- 20. Reevoo: an independent publisher of reviews…. • Cer1fied purchasers • All product reviews, good or bad • Ensure reviews are product centric We reinforce the impar'ality and credibility of a brands site
- 23. Agenda • Reevoo – a brief intro • The case for verified, trusted reviews • 4 Factors for success – Gaining and maintaining trust – Quality and quan1ty (aka coverage) – Distribu1ng those reviews as widely as possible – Driving traffic • Reviews forming the corner stone of a social media strategy • Customer reviews in a mul1‐channel world • What the future holds
- 24. Ensuring consumers are engaged across a brands site • All products have credible reviews • A significant number of reviews per product • Reviews are customised to each product category • Reviews are relevant to each shopper
- 26. Ensuring that 70‐80% of a brands product pages have reviews
- 27. Agenda • Reevoo – a brief intro • The case for verified, trusted reviews • 4 Factors for success – Gaining and maintaining trust – Quality and quan1ty (aka coverage) – Distribu1ng those reviews as widely as possible – Driving traffic • Reviews forming the corner stone of a social media strategy • Customer reviews in a mul1‐channel world • What the future holds
- 28. Reviews are aggregated and syndicated across our network Aggrega'on Syndica'on On site purchasers Retailer Websites Warranty card holders Brand Website Publishers Reevoo Retailer Network Purchasers Reevoo.com Mobile registered users plaJorm
- 29. Agenda • Reevoo – a brief intro • The case for verified, trusted reviews • 4 Factors for success – Gaining and maintaining trust – Quality and quan1ty (aka coverage) – Distribu1ng those reviews as widely as possible – Driving traffic • Reviews forming the corner stone of a social media strategy • Customer reviews in a mul1‐channel world • What the future holds
- 30. Driving excepConal Click Through Rate Support for Google Rich Text Snippets enabled through review content Review content for PPC (paid search) New keywords allowing you to target niche, high performing terms. Review Google Rich Text Snippets support copy (ra1ng, # of reviews, ra1ng) to Differen1ated results in natural search lis1ngs. differen1ate reviews Ra1ngs, number of reviews and score appear on the snippets Incorporates review content in your natural and paid search lisCngs Meta‐desc content (natural search) Ra1ngs, number of reviews, and review Stars and number of reviews draw the eye, snippets help your natural search lis1ngs stand increasing CTR and effecCveness of search out from the crowd engine markeCng
- 32. Agenda • Reevoo – a brief intro • The case for verified, trusted reviews • 4 Factors for success • Reviews forming the corner stone of a social media strategy • Customer reviews in a mul1‐channel world • What the future holds
- 34. Social Community Building Staff Reviews Expert Consumer Reviews Reviews Social Facebook/ NavigaCon & Shopping TwiVer
- 35. V3 Reevoo Lightbox Sharing feature Filter reviews by relevance Sort reviews Tab structure which allows for addi1onal social media content e.g. video, expert, staff reviews
- 36. Social Naviga1on for Brands Search and sort products by scores, features, most popular, most helpful reviews etc. Help customers make their choice at the category page
- 37. Expert Reviews
- 39. Agenda • Reevoo – a brief intro • The case for verified, trusted reviews • 4 Factors for success • Reviews forming the corner stone of a social media strategy • Customer reviews in a mul@‐channel world • What the future holds
- 40. Consumers expect a seamless service… Telesales In store On‐line Distribu1on Brand Partners
- 41. Providing a seamless service • Consistency of shopper experience • Shoppers reading reviews are more likely to convert in store • Reviews in brochures increase reach • Reviews in email marke1ng drive click throughs
- 45. Agenda • Reevoo – a brief intro • The case for verified, trusted reviews • 3 Factors for success • Reviews forming the corner stone of a social media strategy • Customer reviews in a mul1‐channel world • What the future holds