Thriftbooks & Trustpilot - Reviews Happen: A Strategy of When & How to Respond

42
Reviews Happen: A Strategy of When & How to Respond

Transcript of Thriftbooks & Trustpilot - Reviews Happen: A Strategy of When & How to Respond

Page 1: Thriftbooks & Trustpilot - Reviews Happen: A Strategy of When & How to Respond

Reviews Happen:A Strategy of When &

How to Respond

Page 2: Thriftbooks & Trustpilot - Reviews Happen: A Strategy of When & How to Respond

Mike WardPresident

Thrift Books

Presenters

Jordan GarnerDirector of Marketing

Trustpilot

Page 3: Thriftbooks & Trustpilot - Reviews Happen: A Strategy of When & How to Respond

AgendaIntro to Thrift Books & Trustpilot

Why Customer Reviews Matter

Collecting Reviews

Responding to Reviews

Leveraging Reviews

The Thrift Books Success Story

Q & A

Page 4: Thriftbooks & Trustpilot - Reviews Happen: A Strategy of When & How to Respond

Introduction to Thrift Books & Trustpilot

Page 5: Thriftbooks & Trustpilot - Reviews Happen: A Strategy of When & How to Respond

Thrift Books by the Numbers

Page 6: Thriftbooks & Trustpilot - Reviews Happen: A Strategy of When & How to Respond

95% of consumers rated Thrift Books 4 or 5 stars

Page 7: Thriftbooks & Trustpilot - Reviews Happen: A Strategy of When & How to Respond

Trustpilot by the Numbers

Page 8: Thriftbooks & Trustpilot - Reviews Happen: A Strategy of When & How to Respond

Social Proof for Future Shoppers

Consistent and Genuine Feedback

For Consumers• Free for all – consumer review site• Discovery and recommendation platform• Social sharing and community experience

For Businesses• Automated review collection system• Customer engagement and interaction• Insights and analytics engine

The Trustpilot Community

Page 9: Thriftbooks & Trustpilot - Reviews Happen: A Strategy of When & How to Respond

Why Customer Reviews Matter

Page 10: Thriftbooks & Trustpilot - Reviews Happen: A Strategy of When & How to Respond

50% of Americans who are aware of advertising don’t trust what they see, read

or hear in advertisements.

44% think advertisements are dishonest. -YouGov.com

Page 11: Thriftbooks & Trustpilot - Reviews Happen: A Strategy of When & How to Respond

72% of people trust consumer opinions posted online

(2nd only to “Recommendations from people I know”)

Page 12: Thriftbooks & Trustpilot - Reviews Happen: A Strategy of When & How to Respond

Need recognitio

n

Product

specification

Evaluation

of option

s

Purchase decision

Post-

purchase

Influenced by reviews

Look for reviews

Leave reviews

Ads can introduce need

Look online; Care about a brand’s

reputation, quality, service, price

One person, influenced by

opinions

Expects support if an issue arises

May ignore specs if “like

something better”

Often shares dissatisfaction

online

How Consumers Purchase

Look for reviews

Leave reviews

Look for reviews

Page 13: Thriftbooks & Trustpilot - Reviews Happen: A Strategy of When & How to Respond

90% of consumers say buying decisions are influenced by online

reviews

The Impact of Reviews on the Consumer Buying Journey

72% of consumers will take action after reading

a positive review

Customers are likely to spend 31% more on a

business with “excellent” reviews

Page 14: Thriftbooks & Trustpilot - Reviews Happen: A Strategy of When & How to Respond

The Age of the Consumer

Companies must become customer obsessed and the only sustainable competitive advantage is knowledge and engagement with customers.

“-Forrester Research

Page 15: Thriftbooks & Trustpilot - Reviews Happen: A Strategy of When & How to Respond

Reviews are happening EVERYWHERE…

…you need a STRATEGY!

Page 16: Thriftbooks & Trustpilot - Reviews Happen: A Strategy of When & How to Respond

Collecting Reviews

Page 17: Thriftbooks & Trustpilot - Reviews Happen: A Strategy of When & How to Respond

Impact of Asking for Reviews Proactively

NOT asking for reviews:50/50 split positive/negative at

best(likely many more negative

reviews)

Proactively asking for reviews:83% positive reviews

More balanced representation of a business

Page 18: Thriftbooks & Trustpilot - Reviews Happen: A Strategy of When & How to Respond

The Need for Social Engagement: Ask & Convert

Of the 4.3M reviews

we've helped customers

collect since May of

2015, 86% have been 4

stars or higher

Page 19: Thriftbooks & Trustpilot - Reviews Happen: A Strategy of When & How to Respond

• Desired focus of feedback?• Collection vehicle?• Timing?• Call-to-Action?• To incent or not to incent?• Reminders?• Where to collect reviews?

Considerations for Review Collection

Page 20: Thriftbooks & Trustpilot - Reviews Happen: A Strategy of When & How to Respond

• Open & discoverable reviews• Verified reviews & recourse to report if suspicious• Opportunity to respond & consumers to update• Easy, non-invasive experience for the customer• Trust signals (names, date/time stamp, etc.)• Review format CONTENT!• Third-party validation• Social sharing

What to Look for in a Review Platform

Page 21: Thriftbooks & Trustpilot - Reviews Happen: A Strategy of When & How to Respond

Implementing a Proactive Collection Strategy

1 Design a collection flow in your existing customer journey to align with your goals

2 Measure the results, optimize the collection rate, & iterate3Identify your org’s

goals for a proactive review strategy

NEVER STOP ASKING!

Page 22: Thriftbooks & Trustpilot - Reviews Happen: A Strategy of When & How to Respond

 Responding to Reviews

Page 23: Thriftbooks & Trustpilot - Reviews Happen: A Strategy of When & How to Respond

• Should we respond to reviews?• Will responding to reviews improve retention?• Can I actually save unhappy customers with a

response?• Can responding to reviews turn into revenue?

Common FAQs Around Responding

YESto all of the above

Page 24: Thriftbooks & Trustpilot - Reviews Happen: A Strategy of When & How to Respond

Content of Responses Always apologize

Address customer concerns directly

Give the customer a forum for follow-up

If the situation warrants, also reach out privately – not everything should be discussed in a public forum

PRO TIP: Ask the reviewer to update their review if resolved

Page 25: Thriftbooks & Trustpilot - Reviews Happen: A Strategy of When & How to Respond

Content of Responses Always apologize

Address customer concerns directly

Give the customer a forum for follow-up

If the situation warrants, also reach out privately – not everything should be discussed in a public forum

PRO TIP: Ask the reviewer to update their review if resolved

Page 26: Thriftbooks & Trustpilot - Reviews Happen: A Strategy of When & How to Respond

1 Positive

Tone of Review Responses

2 Personal3

Professional4 In line with your brandPRO TIP: For any 3rd party platform that is actively receiving

customer feedback,CURATION & RESPONSE is crucial!

Page 27: Thriftbooks & Trustpilot - Reviews Happen: A Strategy of When & How to Respond

• Resolving issues for unhappy customers to win them back

• Encouraging happy customers to be return customers• Promoting customer advocacy among brand champions• Showing that your company cares & takes reviews

seriously• Giving your company a chance to build a brand voice

Benefits of Responding to Reviews

= REVENUE(remember to actually ACT on the insights you uncover)

Page 28: Thriftbooks & Trustpilot - Reviews Happen: A Strategy of When & How to Respond

Leveraging Reviews

Page 29: Thriftbooks & Trustpilot - Reviews Happen: A Strategy of When & How to Respond

Need recognitio

n

Product

specification

Evaluation

of option

s

Purchase decision

Post-

purchase

How Consumers Purchase

Insert TRUST SIGNALS on every step of your acquisition funnel to give prospects the verification they

need to move forward until CONVERSION

Page 30: Thriftbooks & Trustpilot - Reviews Happen: A Strategy of When & How to Respond

WEBSITE

Page 31: Thriftbooks & Trustpilot - Reviews Happen: A Strategy of When & How to Respond

SOCIAL

Page 32: Thriftbooks & Trustpilot - Reviews Happen: A Strategy of When & How to Respond

SEARCH

Paid Search(via Seller Ratings Ad Extension)

Organic Search(via 3rd party sites & rich snippets)

Page 33: Thriftbooks & Trustpilot - Reviews Happen: A Strategy of When & How to Respond

DISPLAYBanner, Re-Targeting, Social Media Ads…

Page 34: Thriftbooks & Trustpilot - Reviews Happen: A Strategy of When & How to Respond

EMAILS

Page 35: Thriftbooks & Trustpilot - Reviews Happen: A Strategy of When & How to Respond

The

Success Story

Page 36: Thriftbooks & Trustpilot - Reviews Happen: A Strategy of When & How to Respond

The Strategy:Make it easy for all customers to leave reviews for Thrift Books in one central discoverable location

Respond to reviews to address & resolve any issues, encourage return business & customer advocacy

Make reviews easy to find for prospective customers throughout their acquisition funnel

Page 37: Thriftbooks & Trustpilot - Reviews Happen: A Strategy of When & How to Respond

The Integrations:

Home Page:

Testimonials Page:

Page 38: Thriftbooks & Trustpilot - Reviews Happen: A Strategy of When & How to Respond

The Integrations:SEM:

SEO:

Facebook:

Page 39: Thriftbooks & Trustpilot - Reviews Happen: A Strategy of When & How to Respond

The Results:GROWTH

Page 40: Thriftbooks & Trustpilot - Reviews Happen: A Strategy of When & How to Respond

The Results:CUSTOMER SERVICE & RETENTIONIntegrating customer reviews with existing customer profiles in CRM

→ more sophisticated customer contact strategy & enriched data

→ save & retain more customers

BUSINESS OPTIMIZATIONAsking customers to review Thrift Books in one central location on Trustpilot

→ high quantity & quality consolidated customer feedback→ better identify & analyze trends

→ improve site, offering, and business

Page 41: Thriftbooks & Trustpilot - Reviews Happen: A Strategy of When & How to Respond

To-Do List

1. Proactively collect reviews from all of your customers in a central location

2. Respond & resolve ALL reviews3. Leverage your reviews to grow &

improve your business- sharing reviews EVERYWHERE- encouraging customer

advocacy- mine reviews for insights

4. Measure your success!

Page 42: Thriftbooks & Trustpilot - Reviews Happen: A Strategy of When & How to Respond

Q&AMike Ward

@ThriftBooksUSAJordan Garner

@TrustpilotUS@jordanroseg