Austin-based Bazaarvoice, the leader in social commerce, has been aggressively building out an incredible suite of applications, furthered by the launch of Social Commerce Insights, which allows marketers to easily and precisely measure social commerce ROI. Social Commerce Insights raises the bar on social media measurement by enhancing Bazaarvoice’s industry-leading analytics capabilities with pre-built integrations with leading Web analytics solutions, including Adobe® SiteCatalyst®, powered by Omniture; Coremetrics®, an IBM Company; and Google Analytics. Through Social Commerce Insights, marketers can now easily uncover and measure the contribution of customer conversations at every stage of the purchase path, gaining “at-a-glance” results on KPIs for customers who engage with social commerce via Bazaarvoice’s solutions versus those who do not.
“I founded Coremetrics in 1999 to bring accountability and insight into the emerging world of eCommerce, and Bazaarvoice was built from the ground up to offer the most robust analytics capabilities available in the social commerce arena,” said Brett Hurt, founder and CEO of Bazaarvoice. “Now with Social Commerce Insights, we’re helping our clients take the next step by drilling into the ways that social commerce impacts their bottom line. Marketers will now gain absolute proof of how their social commerce investment impacts the actual purchase path and the bottom line — and not simply invest resources in social media with limited insight on what they get in return. In this economic age, ROI matters more than ever.”
Social Commerce Insights: How It Works
Social Commerce Insights taps the power of the Bazaarvoice social commerce platform and Radius partner program to deliver highly actionable insights and ROI analysis with minimal client effort, leveraging the benefits of Bazaarvoice’s Software as a Service business model.
Clients using Social Commerce Insights can:
- Use their existing analytics reporting tools to measure customer interactions with Ratings & Reviews, Ask & Answer, Bazaarvoice Stories, and profiles at any level of granularity;
- Easily segment traffic based on social commerce engagement and evaluate KPIs for different types of shoppers at every point in the purchase path; and
- Generate benchmarks to evaluate new ways to include social commerce in the user experience.
Marketers who implement Social Commerce Insights can now link social commerce contribution and engagement to customer behavior, answering critical questions like, “How does a review impact average order volume?” and demonstrating the real results generated by customer conversations.
“One of the biggest problems facing social media today is the lack of measurement,” said Bryan Eisenberg, best-selling author and Web analytics thought leader. “Lots of people are investing tremendous amount of money and resources in social media, with no real idea of how much they get back. Nine out of ten marketers have very little idea of what is working, and they simply can’t deliver the hard metrics that the C-suite demands. Bazaarvoice has led the pack in this area since the beginning and are extending their lead with this new Social Commerce Insights offering.”