There might not be a silver bullet to resolve the current woes of retailers, but consumer-generated content, or CGC, might come close. According to BazaarVoice’s latest “Shopper Experience Index,” brands and retailers that offer CGC secured on average a 106 percent boost in conversions and 19 percent site-wide revenue lifts. What’s more, they achieved approximately an increase of 119 percent in revenue per visitor when showcasing peer-curated content.
To secure the findings, BazaarVoice analyzed its network data, which included 5.4 billion monthly product page views and more than 61 million pieces of CGC accrued during 2017. “CGC has accelerated the transition to omnichannel. Nearly half of Bazaarvoice clients now expect CGC to impact in-store sales, up from one-third in 2016,” BazaarVoice noted.
The research also confirmed that mobile product research and discovery is at the center of the shopping journey. “More than 50 percent of product display page views now occur on mobile devices,” the spokesman continued. Individuals are increasingly persuaded by visual content — not surprising given social media’s gain of influence that only continues to grow. “On best-in-class client sites, engagement with visual CGC drives 180 percent revenue per visitor lift, up 55 percent from 2016,” the report said.
Brands and retailers that deploy CGC efforts stand to benefit from increasing loyalty and visibility — and the potential of boosted conversions. “The role of question-and-answer content in purchase influence has continued to grow, now reaching 110 percent conversion lift, up from 100 percent in 2016,” a spokesman for the company said.
The analysis confirmed that CGC devises real-time dialogue with consumers — a crucial component to mine deep insights on shopper preferences and behavior. “Sixty-four percent of BazaarVoice clients use CGC to improve products by doing things like adding features or addressing quality flaws,” the report stated.
BazaarVoice uses advanced technology to connect brands and retailers to voices of consumers. According to the company spokesman, more than half a billion shoppers view and share authentic consumer-generated content, ratings, and reviews to social photos across BazaarVoice’s network. The company’s clients include Unilever, Cotton Incorporated, the Container Store, Samsung and DSW, among others.
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