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Today BazaarVoice announced a new integration with Google Analytics giving brands the ability to monitor the influence of user-generated content in Google Analytics. According to data collected from 35 million visits, BazaarVoice reports that customers who interacted with their solutions had more than a 50% higher conversion rate and over a 70% increase in revenue per visit. These types of integrations are amazingly useful because they help take your measurement and site optimization to a whole new level of sophistication.
“With this integration, Bazaarvoice clients can now see, in Google Analytics, the metrics on things like the number of visitors paginating through reviews, or sharing user-generated content with social networks, or clicking on related products found in reviews. Advanced Segments can then be used to compare the behavior of visits that interact with Bazaarvoice generated content vs. those that don’t.”
[Manoj]: Give us a holistic view of the whitepaper.
[Eric Peterson]: Our Mobile Framework white paper provides guidance to marketers and business managers tasked with developing, deploying, and evaluating customer-facing efforts in emerging channels. The goal of the paper was to provide a reasonably deployed set of metrics that can be used to tie fixed Internet, mobile Internet, mobile applications, and other emerging channels together.
A nice aside is that this framework and our use of Interaction, Engagement, and Positive Feedback can be applied not only to channels but also to individual technology efforts within the business. For example, one Web Analytics Demystified client is exploring how this framework can be applied to their investment into video. Another is deploying these metrics into their Social Media efforts.
[Manoj]: How is capturing voice of customer different in mobile vs. the traditional web?
[Eric Peterson]: The challenge is that “capturing voice of customer” is pretty diverse on the traditional web, which speaks to our observation that Voice of Customer is really many different efforts (satisfaction scoring, feedback gathering, polls, etc.) Some of these strategies require asking lots of questions which works great on big screens but not so great on smaller screens. On small screens, and especially in mobile applications, the “ease-of-collection” bar is higher and so the response user experience is even more important.
This is one of the reasons we were excited to work with OpinionLab on the paper — we think their approach is very sound and provides the easiest gateway to quantified and actionable information. Have a look at how Expedia.com has implemented their technology by way of example; you click “Feedback”, provide a numerical assessment, provide direct feedback, and you’re done.
[Manoj]: Do you think user experience is even more important in mobile?
[Eric Peterson]: I’m not sure I think it is “more important” in mobile. I think user experience is important ** everywhere ** and the challenge in mobile is that most companies are still working out what “good user experience” actually looks like. This is, of course, aggravated by the diversity of screens, applications, and platforms we reference in the paper — “good experience” on iOS will differ from Android, Blackberry, Windows, etc. and so our point of view is that reasonable, directly comparable metrics that tie fixed web, mobile, and other emerging channel efforts together is very important.
[Manoj]: What are some of the most useful KPIs in mobile? (with the understanding it’s contextually specific to the type of business)
[Eric Peterson]: Interaction, Engagement Rate, Percent Positive Feedback, and cost-related measures of each. Basically the bulk of the white paper describes our recommended key performance indicators for use in and across mobile and emerging technology efforts.
Wonderfully these are ** not ** contextually specific to business, mostly because it is incredibly difficult to create metrics that are business relevant that span these channels. For example, your web site likely exists to sell products, but your mobile site may or may not actually have a transactional component, your mobile app likely ** does not ** support transactions directly, and your SMS efforts almost certainly do not. In this case does it make sense to track “conversion rate” or “revenue per visit?”
Probably not.
Our point of view is that mobile and emerging channel efforts are going to happen and will hopefully be analyzed deeply based on the specific goal for each channel and technology type. The KPIs we describe in the OpinionLab paper power a higher-level view to let Executives compare the costs and relative response to each of these types of investments. With this data management can evaluate whether the level of investment in each channel is producing appropriate results (or if more investment or some other change action is required.)
[Manoj]: Will mobile users leave enough qualitative feedback on mobile in order for organizations to make educated business decisions?
[Eric Peterson]: Definitely. Have you had a look at Apple’s App Store recently? People seem to take great delight in providing this type of qualitative feedback — not always pretty, but often very useful. Even better, according to OpinionLab customers their mobile users are dramatically more likely to provide feedback, even if the absolute numbers aren’t as large today.
Additionally, we specifically focus on “Percent Positive Feedback” as our recommended KPI because it is volume independent. Even at small numbers, if you get ten pieces of feedback, two of which score negative, two that score neutral, and six that score positive you’re doing a pretty good job. Especially when you track these numbers over time and use a directly comparable system across and between channels you start to develop a pretty good sense of where you are delighting your users (and where you need to work.)
The voice of customer space is slowly getting very competitive with numerous players applying their own spin to a ‘feedback’ focused solution. The newest solution to join the likes of GetSatisfaction, OpinionLab, Kampyle, and UserVoice is Feedbackify! (love that name).So you may have seen by now that the big ACSI (hashtag #ACSI) report on e-business was released today with a bang.
On any given year, there is big news in one of the measured categories, but this year, we have big news in all three!
You can download the free report here: http://www.foreseeresults.com/research-white-papers/ACSI-e-business-report-2010.shtml or catch me on Twitter (@larryfreed) with any questions about the findings.
Yesterday I caught up with Larry Freed, CEO of Foresee Results, and we chatted about the results from Foresee’s Top 100 Online Retail Satisfaction Index report. Check out our conversation below:
Manoj: Larry, can you tell me a little bit about the study?
Larry Freed: We collect an enormous amount of data about online retailers all year. But this is our sixth year producing a report that looks at online satisfaction specifically for the Top 100 online retailers.
Manoj: How it was conducted?
Larry Freed: We used the scientific methodology of the American Customer Satisfaction Index to survey more than 23,000 visitors to the top 100 e-retail websites. Internet Retailer tells us who the top 100 are, according to sales volume, and we survey their site visitors using a panel.
What do the results show about the top e-retailers overall?
Larry Freed: Amazingly, satisfaction with e-retail is up year-over-year. It took a big dive last year but has not only rebounded, but it has exceeded previous levels. Satisfaction with the top 100 e-retailers is now at 78, up nearly 5 points from 2009.
Manoj: Any insights about specific retailers?
Larry Freed: Netflix.com takes the top spot for the fourth year in a row with a score of 87, and Amazon.com a close second with a score of 86. The other highest scorers were Avon, Apple, Keurig, LLBean, QVC, Vitacost, BassPro, Cabelas, DisneyStore, Oriental Trading, TigerDirect, and VistaPrint. The report itself also breaks the top 100 into categories of retailers so you can see who is the best mass merchant, the best online apparel retailer, the best computer and electronics online store, etc.
Manoj: What should e-retailers do if they want to improve online satisfaction?
Larry Freed: Well, the formula is going to differ greatly for each retailer, but on average, we did see that customer perceptions of price continues to play a big role.
Manoj: Why is it important to for online retailers to measure customer satisfaction?
Larry Freed: Online satisfaction drives loyalty, sales, and word-of-mouth recommendations. Those future behaviors will ultimately determine the success of your entire organization across channels. But in a very tangible sense, this study showed that a one-point increase in online customer satisfaction alone predicted an $89 million increase in online sales. Customer satisfaction is important, there are no two ways about it.
You can download the full report at: http://bit.ly/dd1InI
& Also check out Larry’s Blog post: http://bit.ly/dbVhdq
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