When people talk to each other, they buy stuff. This simple truth has led Bazaarvoice, Inc. (NASDAQ: BV) to help hundreds of millions of shoppers make more informed and confident purchase decisions by creating a place where they can share their opinions, questions and experiences about the brands they love and the products they buy.
Technology has given people more opportunities to connect with products and brands than ever before. Authentic, shopper-generated reviews, for example, are the most trusted and highly utilized source of information when consumers are deciding what to buy. Bazaarvoice harnesses this power, providing proprietary solutions to retailers and brands that can help them drive sales, build customer loyalty and increase profits by gaining first-hand insight into what their customers are saying.
The company’s impressive suite of products allows clients to host genuine online conversations about their brand and products, which provides a conduit for deeper knowledge into what customers really want. Through its Software as a Service (SaaS) model, Bazaarvoice provides the tools needed to transform user-generated content into improvements in marketing, sales, customer service and product development.
The Bazaarvoice suite of applications is a cloud-based, user-generated content engine designed to help brands capture, manage and respond to customer input in order to achieve optimal growth. With five unique applications, brands can reach their target audiences on a more personal, individual basis in order to promote brand loyalty and recognition.
Bazaarvoice Conversations helps encourage people to review products, ask questions, give answers and share stories. Bazaarvoice Connections helps brands respond to shoppers’ questions across a network of leading retail sites. Bazaarvoice Local places authentic service reviews on the sites of local providers. Bazaarvoice Curations increases brand trust and conversion rates by displaying authentic, moderated social content directly on the site of the client’s brand. Bazaarvoice Media uses retail sites to reach shoppers when they are in the buying mood.
The company’s SaaS products take a more modern approach to many of the internet’s most popular promotional tools. In addition to increasing sales and extending brand reach, brands using Bazaarvoice’s revolutionary products are also able to drive site traffic through the use of valuable, customer-written feedback, which serves as SEO content, while simultaneously managing their reputations by actively participating in consumer conversations. In a time where a few bad reviews can be the death of a fledgling brand, the potential benefits of the services of Bazaarvoice are effectively limitless.
Take, for example, the powerful case study involving ecommerce site Overstock.com. While ecommerce sites typically convert around three percent of total traffic into sales, the popular retail destination was able to leverage the power of Bazaarvoice Media to monetize non-converting traffic. By optimizing the value of each and every ad placement and enlisting top-tier advertisers to Overstock.com, Bazaarvoice was able to streamline the ecommerce site’s ad operations and show executives which strategies truly worked.
As the importance of a properly managed web presence continues to grow for brands of all sizes, Bazaarvoice, through its proprietary SaaS tools, has positioned itself at the top of the critical social depth platforms market. With its Bazaarvoice Conversations platform receiving a perfect rating from Forrester Research, Inc., it’s clear to see that the future looks extremely bright for the Austin, Texas-based company.
For more information, visit www.bazaarvoice.com
