The Advantages of Social Revenue OptimizationMarch 19, 2014
The advantages of data gathering become more apparent every day in the information age. This is especially true when making adjustments to your marketing and sales strategies. Buyer sentiment is perhaps the most valuable type of data, but also the most difficult to obtain in a useful manner. Why do customers like or dislike a given product? [more]
Usually, surveys or product reviews are used to find this information. But, they obtain data too late in the sales cycle to maximize its usefulness. By taking a social revenue optimization (SRO) approach to your website design, you can obtain that data sooner and put it to better use.
An ecommerce site that fosters collaboration, expression, and (most importantly) sentiment sharing is one that is using SRO features. However, pop-ups or prompts that ask users to share their sentiments or opinions creates an intrusive user experience. Rather, tagging buttons on product pages and chat forums allow users to share valuable information about your products in real-time – without moving the conversation to another social site like Pinterest or Facebook.
SRO may not be easy to implement, but sites such as Woot.com and Amazon.com have shown that the effort can pay off. Using the data gathered, you can optimize product placement and pricing on an individual customer basis. So, not only do you get useful data, but users can have a more enjoyable experience on your site as well.