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Applying Data Science to Social Proof

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Many companies struggle to clearly identify the impact of social proof on their business. How much of your revenue is a result of past buyers’ content influencing current shopper decisions?

In this webinar, we will discuss how you can uncover the untapped marketing potential of social proof with big data.

Learn how to:

Measure the ROI of your customers’ content with machine learning, sentiment analysis and behavioral targeting
Implement data-backed tips on what works and what doesn’t when it comes to collecting and promoting customer content
Effectively market social proof to increase customer trust, engagement, and conversions

Publicado en: Marketing
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Applying Data Science to Social Proof

  1. 1. Applying Data Science to Social Proof JOANNA ALTER, YOTPO CO-MARKETING MANAGER
  2. 2. @Kissmetrics #KissWebinar @thuelmadsen
  3. 3. Thue is the Kissmetrics Webinar Wizard and Marketing Ops Manager. Before joining forces with Kissmetrics, he was a Lyft driver in SF, which is also how he ended up as a KISSmetrics marketer. Whenever Thue is not trying to automate everything around him, you can find him hiking in the Sierras. THUE MADSEN Marketing Operations Manager, Kissmetrics @ThueLMadsen Joanna is Yotpo’s resident sunglasses aficionado and Co-marketing Manager. She really enjoys exploring new places and observing her surroundings—so much so that she frequently trips while gazing at impressive buildings, beautiful landscapes, or anything else that catches her eye. JOANNA ALTER Co-marketing Manager, Yotpo @alterjoanna
  4. 4. @Yotpo #KissWebinar @alterjoanna
  5. 5. 1 Section One – Introduction Engagement Conversion Sales Acquisition 2 Section Two – How to Measure the ROI of Social Proof with Data Science 3 Section Three – Data-backed Tips for Leveraging Social Proof for Your Business TABLE OF CONTENTS Social proof influences consumers Collection Management Distribution
  6. 6. WATCH WEBINAR RECORDING NOW
  7. 7. Introduction SOCIAL PROOF INFLUENCES CONSUMERS
  8. 8. Social Proof A psychological phenomenon where people assume the actions of others in an attempt to reflect correct behavior for a given situation.
  9. 9. “First and last time staying here.”
  10. 10. 1/3 of all site visitors More than 1/3 of all visitors to eCommerce sites view or engage with user-generated content.
  11. 11. 55% of customers More than 55% of customers engage with user-generated content before making a purchase.
  12. 12. Show Me The Data! HOW CAN I MEASURE THE IMPACT OF SOCIAL PROOF?
  13. 13. How to Measure the ROI of UGC USE DATA SCIENCE TO SEE HOW USER-GENERATED CONTENT IS BRINGING YOUR BUSINESS VALUE
  14. 14. Engagement
  15. 15. HOW TO MEASURE THE ROI OF CUSTOMER CONTENT: ENGAGEMENT
  16. 16. HOW TO MEASURE THE ROI OF CUSTOMER CONTENT: ENGAGEMENT
  17. 17. HOW TO MEASURE THE ROI OF CUSTOMER CONTENT: ENGAGEMENT Opportunities for site visitors to engage with UGC • Reviews • Star ratings • Customer photos • Customer Q&A
  18. 18. HOW TO MEASURE THE ROI OF CUSTOMER CONTENT: ENGAGEMENT Opportunities for site visitors to engage with UGC • Reviews • Star ratings • Customer photos • Customer Q&A • Home page • Product page • Gallery Page • Checkout page
  19. 19. HOW TO MEASURE THE ROI OF CUSTOMER CONTENT: ENGAGEMENT Opportunities for site visitors to engage with UGC • Reviews • Star ratings • Customer photos • Customer Q&A • Home page • Product page • Gallery Page • Checkout page Does anyone even look at this stuff?
  20. 20. HOW TO MEASURE THE ROI OF CUSTOMER CONTENT: ENGAGEMENT See how many site visitors are engaging with each your UGC widgets displaying social proof about your brand.
  21. 21. Conversion
  22. 22. HOW TO MEASURE THE ROI OF CUSTOMER CONTENT: CONVERSION Conversion Rate Uplift Conversion rate of customers who engage with user-generated content Conversion rate of customers who do not engage with user-generated content VS.
  23. 23. HOW TO MEASURE THE ROI OF CUSTOMER CONTENT: CONVERSION
  24. 24. HOW TO MEASURE THE ROI OF CUSTOMER CONTENT: CONVERSION $ Customers who engage with user-generated content Average Order Value Uplift $ Customers who do not engage with user-generated contentVS.
  25. 25. HOW TO MEASURE THE ROI OF CUSTOMER CONTENT: CONVERSION When a customer buys exactly what they intended to buy, that is good for your store.
  26. 26. HOW TO MEASURE THE ROI OF CUSTOMER CONTENT: CONVERSION When a customer buys more than what they intended to buy, that is great for your store.
  27. 27. HOW TO MEASURE THE ROI OF CUSTOMER CONTENT: CONVERSION You can quantify the percentage of customers who interacted with UGC and how much more money they spent in your store.
  28. 28. Sales
  29. 29. HOW TO MEASURE THE ROI OF CUSTOMER CONTENT: SALES % sales from UGC % engagement with UGC>
  30. 30. HOW TO MEASURE THE ROI OF CUSTOMER CONTENT: SALES % sales from UGC % engagement with UGC> % sales from UGC% engagement with UGC >
  31. 31. HOW TO MEASURE THE ROI OF CUSTOMER CONTENT: SALES
  32. 32. Acquisition
  33. 33. HOW TO MEASURE THE ROI OF CUSTOMER CONTENT: ACQUISITION
  34. 34. HOW TO MEASURE THE ROI OF CUSTOMER CONTENT: ACQUISITION
  35. 35. Data-Backed Tips for Leveraging Social Proof
  36. 36. DATA-BACKED TIPS FOR LEVERAGING SOCIAL PROOF How data can help you leverage social proof • Collection: Getting reviews, photos, and other customer content • Management: Understanding the significance behind that content • Distribution: Displaying this content to get the most out of your social proof
  37. 37. Collection
  38. 38. 6 to 8.5% of customers respond to post-purchase UGC requests. DATA-BACKED TIPS FOR LEVERAGING SOCIAL PROOF: COLLECTION
  39. 39. HOW TO MEASURE THE ROI OF CUSTOMER CONTENT: CONVERSION Optimize your UGC collection by analyzing what you’re saying, and when you’re saying it.
  40. 40. HOW TO MEASURE THE ROI OF CUSTOMER CONTENT: CONVERSION What you’re saying: subject lines When you’re saying it: time of day
  41. 41. DATA-BACKED TIPS FOR LEVERAGING SOCIAL PROOF: COLLECTION
  42. 42. DATA-BACKED TIPS FOR LEVERAGING SOCIAL PROOF: COLLECTION
  43. 43. Management
  44. 44. Most common words in customer reviews in 2016 DATA-BACKED TIPS FOR LEVERAGING SOCIAL PROOF: MANAGEMENT
  45. 45. Natural Language Processing • Identify customer concerns and experiences early • Publish UGC that accurately reflects customer sentiment DATA-BACKED TIPS FOR LEVERAGING SOCIAL PROOF: MANAGEMENT
  46. 46. DATA-BACKED TIPS FOR LEVERAGING SOCIAL PROOF: MANAGEMENT
  47. 47. DATA-BACKED TIPS FOR LEVERAGING SOCIAL PROOF: MANAGEMENT
  48. 48. DATA-BACKED TIPS FOR LEVERAGING SOCIAL PROOF: MANAGEMENT
  49. 49. DATA-BACKED TIPS FOR LEVERAGING SOCIAL PROOF: MANAGEMENT
  50. 50. DATA-BACKED TIPS FOR LEVERAGING SOCIAL PROOF: MANAGEMENT
  51. 51. DATA-BACKED TIPS FOR LEVERAGING SOCIAL PROOF: MANAGEMENT
  52. 52. Distribution
  53. 53. The more recognition you give your customers, the more genuine information you get from your customers DATA-BACKED TIPS FOR LEVERAGING SOCIAL PROOF: DISTRIBUTION
  54. 54. Customize your ratings and highlight customer feedback DATA-BACKED TIPS FOR LEVERAGING SOCIAL PROOF: DISTRIBUTION
  55. 55. Showcase customer experiences to increase checkouts by 29% DATA-BACKED TIPS FOR LEVERAGING SOCIAL PROOF: DISTRIBUTION
  56. 56. Display user-generated content across your site in creative ways DATA-BACKED TIPS FOR LEVERAGING SOCIAL PROOF: DISTRIBUTION
  57. 57. Key Takeaways
  58. 58. Key Takeaways • UGC allows you to learn from your customers and for your customers to learn from each other • Amplify your customers’ voices by collecting, managing and distributing UGC • Measure the ROI of your user-generated content so you can effectively leverage social proof APPLYING DATA SCIENCE TO SOCIAL PROOF
  59. 59. LEARN MORE NOW Discover how Kissmetrics can help you optimize your marketing
  60. 60. JOANNA ALTER Co-marketing Manager, Yotpo @alterjoanna jalter@yotpo.com THUE MADSEN Marketing Operations Manager, Kissmetrics @ThueLMadsen tmadsen@kissmetrics.com Questions?

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