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Today’s consumers have taken control of the marketers’ message. Leveraging UGC, brands can deepen relationships with consumers and ultimately drive their purchase decisions.
Citation preview
How The Social Consumer Helps Build Your Brand November 20, 2014
2
Today’s speakers
Amy Hayes VP of Global Brand Bazaarvoice
Tracy Stokes Principal Analyst Forrester
Sara Kenton Director of e-Commerce YETI Coolers
A commissioned study conducted by Forrester Consulting on behalf of Bazaarvoice. Confidential and Proprietary. © 2014 Bazaarvoice, Inc. and Forrester Research Inc.
3
• Technology-empowered consumers take control
• User-generated content is a rising but immature
discipline
• How user-generated content can build your brand
• The YETI Coolers story
• Recommendations
Agenda
A commissioned study conducted by Forrester Consulting on behalf of Bazaarvoice. Confidential and Proprietary. © 2014 Bazaarvoice, Inc. and Forrester Research Inc.
Technology-empowered consumers have taken control
64% 54%
© 2014 Forrester Research, Inc. Reproduction Prohibited
© 2014 Forrester Research, Inc. Reproduction Prohibited 5
Source: “Build Your Content Brand By Delivering Customer Value” Forrester report
… they are perpetually connected
US online adults have an average of
3
connected devices
52%
And constantly distracted
58%
© 2014 Forrester Research, Inc. Reproduction Prohibited
Customers now choose how they connect with brands
Information scarcity
Attention abundance
Attention fatigue
Information overload
© 2014 Forrester Research, Inc. Reproduction Prohibited
8
• Technology-empowered consumers take control
• User-generated content is a rising but immature
discipline
• How user-generated content can build your brand
• The YETI Coolers story
• Recommendations
Agenda
A commissioned study conducted by Forrester Consulting on behalf of Bazaarvoice. Confidential and Proprietary. © 2014 Bazaarvoice, Inc. and Forrester Research Inc.
UGC is a critical marketing tool during the early stages of the Customer Life Cycle
Especially for new product launches
© 2014 Forrester Research, Inc. Reproduction Prohibited
Ratings and reviews are a highly influential form of UGC
“Ratings and reviews [are most important]. Consumers are used to the fact that popular products have a lot of ratings & reviews online. It looks fishy if you don’t have them.” – Brand Manager, CPG Company
For marketers And consumers
76%
© 2014 Forrester Research, Inc. Reproduction Prohibited
But lack of measurement limits UGC potential
› Count UGC likes instead of measuring business or brand impact
› Find UGC difficult to measure
› Lack proof of performance needed to propel investment
“Our barriers are strategy, time, and importance. [UGC] is not viewed as important enough therefore there are no goals.” Global Digital Marketing Manager, Automotive Company
© 2014 Forrester Research, Inc. Reproduction Prohibited
12
• Technology-empowered consumers take control
• User-generated content is a rising but immature
discipline
• How user-generated content can build your brand
• The YETI Coolers story
• Recommendations
Agenda
A commissioned study conducted by Forrester Consulting on behalf of Bazaarvoice. Confidential and Proprietary. © 2014 Bazaarvoice, Inc. and Forrester Research Inc.
Trust drives brand resonance
© 2014 Forrester Research, Inc. Reproduction Prohibited
Consumers trust content from other consumers more than from brands
9%
11%
17%
40%
36%
14%
19%
27%
48%
55%
Ads on websites (e.g. banners)
Posts by companies or brands on social networking sites
Brand sponsored content
Consumer-written online reviews
Professionally written online reviews
US EU
“To what extent do you trust each of the following types of advertising/promotion?” (4 or 5 on a scale of 1 [do not trust] to 5 [trust completely])
Source: North American Consumer Technographics Online Benchmark Survey (Part 1), 2014; European Consumer Technographics Online Benchmark Survey, 2014
Base: 58,583 US Online Adults 18+ Online Weekly or More; 16,538 European Online Adults 16+ Online Weekly or More (France, Germany, GB, Italy, Netherlands, Spain, Sweden)
© 2014 Forrester Research, Inc. Reproduction Prohibited
15
Brand responses improve perception
A commissioned study conducted by Forrester Consulting on behalf of Bazaarvoice. Confidential and Proprietary. © 2014 Bazaarvoice, Inc. and Forrester Research Inc.
Leverage UGC To Build Your Brand
© 2014 Forrester Research, Inc. Reproduction Prohibited
UGC must be authentic to build credibility
“We track pictures and recipes. We asked people to send pictures of their chicken meals and it has become an encyclopedia of chicken.” –Digital Media Manager, CPG Company
Share UGC that goes beyond product features & benefits
Be transparent in the source of your UGC
© 2014 Forrester Research, Inc. Reproduction Prohibited
© 2014 Forrester Research, Inc. Reproduction Prohibited 18
UGC Must Be Measured To Build Maturity
Set goals around quality and engagement
Set up controlled tests to measure business impact
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Health and beauty brand saw 2x click-through-rate when creative advertising included UGC
UGC’s Impact on Marketing Effectiveness
Traditional Advertising
Advertising with UGC
A commissioned study conducted by Forrester Consulting on behalf of Bazaarvoice. Confidential and Proprietary. © 2014 Bazaarvoice, Inc. and Forrester Research Inc.
20
• Technology-empowered consumers take control
• User-generated content is a rising but immature
discipline
• How user-generated content can build your brand
• The YETI Coolers story
• Recommendations
Agenda
A commissioned study conducted by Forrester Consulting on behalf of Bazaarvoice. Confidential and Proprietary. © 2014 Bazaarvoice, Inc. and Forrester Research Inc.
21
• Founded in 2006 in Driftwood, TX
• Simple Mission: Build a cooler that wouldn't break
• Reached $100 million mark in 2013
• Primary users today are hunters and anglers
• Word of mouth has been critical to our success
The YETI Story
A commissioned study conducted by Forrester Consulting on behalf of Bazaarvoice. Confidential and Proprietary. © 2014 Bazaarvoice, Inc. and Forrester Research Inc.
22
A look back.
A commissioned study conducted by Forrester Consulting on behalf of Bazaarvoice. Confidential and Proprietary. © 2014 Bazaarvoice, Inc. and Forrester Research Inc.
23
Ratings & Reviews
A commissioned study conducted by Forrester Consulting on behalf of Bazaarvoice. Confidential and Proprietary. © 2014 Bazaarvoice, Inc. and Forrester Research Inc.
24
Ratings & Reviews
A commissioned study conducted by Forrester Consulting on behalf of Bazaarvoice. Confidential and Proprietary. © 2014 Bazaarvoice, Inc. and Forrester Research Inc.
25
Ratings & Reviews
A commissioned study conducted by Forrester Consulting on behalf of Bazaarvoice. Confidential and Proprietary. © 2014 Bazaarvoice, Inc. and Forrester Research Inc.
26
Ratings & Reviews
A commissioned study conducted by Forrester Consulting on behalf of Bazaarvoice. Confidential and Proprietary. © 2014 Bazaarvoice, Inc. and Forrester Research Inc.
27
Ratings & Reviews > Gaining Insight
★★★★★ NO OUTSIDE CONDENSATION IS AWESOME. - Ezzie"I am totally in love with my Rambler. It is by far the best Tumbler I have ever owned. It hold ice indoors for hours. I also love the fact that no rings from condensation are ever a problem. I would and have recommended this item as a gift to all of my friends. If I were wealthy they would all get 1 from me. Thanks Yeti for making my life & my hunting a better experience. I did not even mention FOOTBALL season. I think my Clemson Tigers will be a better team because I will be using my Rambler at the Tailgate..... Go Tigers."
Wonderment, awe, surprise, astonishment, bewilderment, admiration, incredulous, startling,
staggering, mindboggling, IRRATIONAL AMAZEMENT
A commissioned study conducted by Forrester Consulting on behalf of Bazaarvoice. Confidential and Proprietary. © 2014 Bazaarvoice, Inc. and Forrester Research Inc.
28
Social Curations Help Answer Key Questions
A commissioned study conducted by Forrester Consulting on behalf of Bazaarvoice. Confidential and Proprietary. © 2014 Bazaarvoice, Inc. and Forrester Research Inc.
29
Building a Community > A Central Hub
A commissioned study conducted by Forrester Consulting on behalf of Bazaarvoice. Confidential and Proprietary. © 2014 Bazaarvoice, Inc. and Forrester Research Inc.
30
Building a Community > A Central Hub
A commissioned study conducted by Forrester Consulting on behalf of Bazaarvoice. Confidential and Proprietary. © 2014 Bazaarvoice, Inc. and Forrester Research Inc.
31
• Technology-empowered consumers take control
• User-generated content is a rising but immature
discipline
• How user-generated content can build your brand
• The YETI Cooler’s story
• Recommendations
Agenda
A commissioned study conducted by Forrester Consulting on behalf of Bazaarvoice. Confidential and Proprietary. © 2014 Bazaarvoice, Inc. and Forrester Research Inc.
Recommendations › Employ tools and platforms that curate and
verify
© 2014 Forrester Research, Inc. Reproduction Prohibited
Recommendations › Collect data to build up internal
benchmarks for good, better and best UGC
© 2014 Forrester Research, Inc. Reproduction Prohibited
Recommendations › Integrate UGC into your brand
measurement tracker
© 2014 Forrester Research, Inc. Reproduction Prohibited
Recommendations › Incorporate UGC into other
marketing communications
© 2014 Forrester Research, Inc. Reproduction Prohibited
Recommendations › Turn UGC into insights and
action
© 2014 Forrester Research, Inc. Reproduction Prohibited
37
Thanks! Questions?
Amy Hayes VP of Global Brand Bazaarvoice [email protected]
Tracy Stokes Principal Analyst Forrester [email protected]
Sara Kenton Director of e-Commerce YETI Coolers [email protected]
A commissioned study conducted by Forrester Consulting on behalf of Bazaarvoice. Confidential and Proprietary. © 2014 Bazaarvoice, Inc. and Forrester Research Inc.