Key Points to Know:
- Research shows intent to purchase more than doubles when consumers see a brand's response to a negative review
- Brand responses significantly improve product sentiment and increase sales when used to clarify product differentiators or correct misperceptions
- Bazaarvoice Connections enables brands to respond to reviews on more than 200 retail sites
AUSTIN, Texas, Oct. 2, 2013 (GLOBE NEWSWIRE) -- Bazaarvoice, Inc. (Nasdaq:BV), a technology company connecting businesses together to amplify the authentic voices of consumers where they shop, today released The Conversation Index Volume 6, a research study that investigates the role of social technologies in building better relationships between businesses and consumers. The latest volume of Bazaarvoice's semi-annual research series details how consumers establish a dialogue with businesses through social technologies and how brands and sellers can build stronger relationships and improve shopping experiences by responding to online feedback.
Addressing the need for brands to directly respond to reviews and answer questions on retail sites, Bazaarvoice Connections now enables nearly 1,000 brands to participate in conversations happening about their products or services on retail and shopping sites in the Bazaarvoice network representing hundreds of millions of consumers. Brands can sign up for Connections and answer questions about their products for free at connections.bazaarvoice.com.Based on an analysis of data from more than 100,000 pieces of user-generated content in the Bazaarvoice network and responses from a survey, conducted by Wakefield Research, of 1,600 nationally representative US adults, key findings in The Conversation Index Volume 6 include:
- Responsive brands increase sales. When consumers saw a brand's response to a negative review, their overall opinion of the product and their intent to purchase more than doubled compared to when they saw a negative review without a brand response. In addition, when brands responded to a review in which the product owner misused or demonstrated a significant misconception about the product, shoppers who saw the brand response were 186 percent more likely to purchase than those who didn't. Similarly, when a brand's response offered to refund, upgrade, or exchange a disgruntled customer's product for a different model, shoppers were 92 percent more likely to purchase than shoppers who saw no response.
- Perception improves when brands respond to consumers. Shoppers see responsive brands as caring and trustworthy and show higher sentiment toward their products. Seeing a brand response to a review made consumers think the brand "really cares about consumers" (41 percent), "has great customer service," (35 percent); is "a trustworthy brand," (22 percent); or provides "products [that] are high quality" (14 percent). Average sentiment also improved 157 percent after seeing a review with a brand response that corrected product misuse and offered corrective instructions, and 88 percent when a brand response offered to refund or upgrade the reviewer's product.
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