What’s your ROBO?
Brands and retailers know that online consumer content drives online sales. But how are offline sales influenced by online content?
How smart marketers use CGC to influence omnichannel shoppers
As an industry, we’ve gotten really good at figuring out the impact UGC (or CGC) has on online shopping, with study after study showing how consumers trust their peers over more traditional advertising and marketing.
Far from the sensational headlines clamoring about the death of brick-and-mortar stores, Rutgers University reports that 78% of shoppers say they still buy in-store.
But mobile plays an outsize role for these shoppers. According to Pew Research Center, 62% of in-store shoppers use their phones to look up online reviews before making a purchase.
But what about brick-and-mortar sales? How do online reviews and other kinds of CGC impact what’s happening in the aisles? Inquiring marketers need to know.
Every day, people write reviews and post photos and videos about the products and brands they love – and the one they don’t. And every day, shoppers turn to this invisible crowd, reading through product reviews and other types of User/Consumer-Generated Content (CGC) to decide what to buy.
To answer this question, we devised the ROBO Multiplier, which quantifies how much in-store revenue CGC influences for every dollar it influences in online sales.
Let’s break that down a little bit:
If you have a ROBO Multiplier of 4, it means that for every online $ impacted by reviews, there is an additional $4 impact to offline sales. The ROBO Multiplier helps you to understand how consumers are learning about your products. Also, aside from being excellent in calculating a more complete picture of the return from an online CGC program.*ROBO MULTIPLIER: A factor of your offline and online revenue, combined with the rate at which shoppers consult online reviews prior to an in-store purchase. That means every company has a unique ROBO Multiplier that spans their entire business.
Download the Resource to Continue Reading...
At Bazaarvoice, we have studied ROBO across industry categories for several years. With all of our research, we’ve worked to quantify the impact of online content on offline sales. And built a tool to do just that across 72 top-level product categories.
All that work forms the backbone of this report. But while we set out with the goal of figuring out how online reviews impact offline sales, we found much more than that. We discovered a looking glass into how smartphones have radically changed the way we shop.
You May Also Like to Read: