Rise of the Digital Consumer: Protect & Enhance Your Online Business Reputation

CIGNEX Datamatics Confidential www.cignex.com

Rise of the Digital Consumer: Protect & Enhance Your Business Reputation

5/21/2015

Name: Vikram Samant

Title: EVP – Open Source Solutions


Digital Consumer Dynamics

Explosive Growth of Social Media

The rise of Price comparison

Websites

Influence of Review websites

Consumers want Transparency

Security & Privacy Concerns

Multi-Channel Buying Decisions

Demand Omni-Channel

Experience

Change in Consumer

Demographics

CIGNEX Datamatics Confidential www.cignex.com 3

Driving Engagement with Gen Y – Challenges

64% CG execs report that

gaining Gen Y loyalty will take more than just delivering on brand

promise

44% believe that lack of strong

engagement in social channels favored by

Millenials is the biggest challenge

33% think that they are not

effective in digital marketing and

communications

71% CG execs report that they

do not understand the complete path to purchase

of the Millenial shopper

admit that they do not have a direct to consumer

engagement strategy

42%

CG enterprises need to adopt a Direct to Consumer Engagement Strategy

Source: CGT Aug 2014 Survey


The CPG Consumer Disconnect

Only 25% CG Executives reported

using search engine tools to interact with

customers

A mere 19% CG Executives said that they use independent

websites to engage customers

69% and 46% of consumers reported respectively that search engines and

independent websites were their most preferred channels to learn about and

compare products

Source: Marketingcharts.com

&


Online Reputation Management (ORM) is the practice of crafting strategies that shape

or influence the public perception of an organization, individual or other entity on the

Internet. It helps drive public opinion about a business and its products and services.

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What is Online Reputation Management?

Reference: Technopedia


Importance of Online Reputation Management

Tried the new juicer.

Refreshing! Loved it!!

Ratings & Reviews

87% Of executives rate

Reputation risk as more

important than other strategic risks.**

84% of buyers are influenced

by consumer written reviews

71% Of consumers change

their brand perception

after seeing a brand response to a

review

70% People trust the opinions

of other

consumers

To Buy or Not to Buy: The Decision has taken place before you knew about it.

***Local Consumer Review Survey 2014, Bright Local Study

Moments

of Truth

62% of millenials already know

what they want before entering a store


Link Between Reputation and Business Performance

Over the past 5 years, companies with leading reputations achieved shareholder

returns 100% higher than competitors and outperformed the S&P by over 88%

Courtesy: prophet.com


Tell Tale Signs of a Reputation Apocalypse

Increased Negative

Sentiment

Shrinking Leads or Conversions

Increased Customer

Service issues

Increased Competitor

Positive Sentiment

Negative reviews show up more than

positives

Responding late to Negative

Reviews

Not having a consolidated, real time view of your online reputation


Reputation Mismanagement

Can this happen to your business?

A multinational food and beverage company failed to address negative comments about its environmental policies, attracting a backlash from the public. This forced them to suspend activity

on their public page.

A Korean electronics giant was fined upwards of $300,000 for hiring people to write misleading & exaggerated reviews about their products and degrading ones about competitor products

A leading US baking company aggressively reacted to negative reviews and comments which was eventually picked up by the local news. Publicity for all the wrong reasons.


Build, Monitor, Manage and Amplify your business reputation

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Extracts real time reviews of brands, products and services from hundreds of

online review websites allowing YOU to make informed decisions, track your

competitor, manage launch day sentiment, plan actionable campaigns and

ultimately increase your online reputation.


Improve Consumer Engagement & Drive Brand Loyalty

Encourage Customer Reviews

Encourage 50% of your daily customers who had a good experience to write a review

Quick Response

Respond to unhappy customers by being transparent, honest and providing them an

incentive like a free coupon/discount

Watch, real time. Respond, real time.

MultiChannel Reviews

Provide your customers the option to write a review over email, sms, web, mobile,kiosk etc

CRM

Run frequent campaigns and promotions to improve loyalty and realize lifetime value


Analyze Consumer Feedback for Insights & Decisions

Identify best & worst performing geos by ratings &

reviews

Track consumer sentiment in real

time

Identify review websites that attract most

negative/positive reviews

Identify positive & negative keywords most used by your

customers

Benchmark ratings & reviews

against competition


Proactively Manage your Brand’s Online Reputation

Watch, real time. Respond, real time.

Cross pollinate 4 & 5 star reviews

Push positive reviews to Google+, Facebook, Twitter etc

Identify weak links

Identify & correct weaknesses in your Marketing & Operations

Monitor popular review websites for negative comments.

Monitor Review Sites

Create your own branded website listing to improve reputation and drive new business

Branded Site listing for Reputation Management


Real Time Dashboards

Competitive Analysis Reputation Geo Map

Frequent Keywords Sentiments Over Time


All your reviews from multiple sources…..on one page


Sentiment co-relation


Analysis by Category

Understanding what contributes to your score

Create campaigns that highlight the positives

Identify initiatives that can improve lagging

areas


International provider of home, home office, business products, and industrial solutions -

BEFORE:

• The marketing team manually collects feedback from 50+ retail sites for a few products. Spends weeks analyzing data to generate actionable insights. Comparisons against competitive products is a serious challenge.

AFTER:

• Auto receiving reviews for 200 products from 50+ sites on a real time basis. Instantaneous alerts to negative reviews and able to address them, while promoting and cross posting positive reviews.

• Can quickly analyze which keywords have contributed to the sentiment, funnel them in order of impact and take corrective action.

• Armed with comparatives of keywords/reviews regarding their top 3 competitors products and can now tailor their marketing campaigns to highlight the right areas.

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Case Study

All within 20 days


About CIGNEX Datamatics

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Business Engagement Platform Digital Engagement Platform (DxEP) Employee | Supplier | Customer | Partner Franchise Management Platform (FMP™ Reputation Management Platform RMP™

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Rise of the Digital Consumer: Protect & Enhance Your Online Business Reputation