Update: The Google Analytics Blog discusses our Social Commerce Insights integration
ROI is the “white whale” for countless brands trying to measure (and justify) their social media efforts, and aligning measurement with preexisting goals is often easier said than done. Not so with social commerce, which is inherently measurable and performance-oriented. We’ve been releasing findings for years showing the impact of user-generated content on the metrics businesses care about, but our latest numbers are even better than we expected.
Analyzing a random sample of our many clients currently using our new Social Commerce Insights solution with Google Analytics, we’re able to easily quantify the impact of our social commerce platform on key metrics like conversion and revenue per visit.
On average, after viewing a product page, customers who interacted with Bazaarvoice solutions had more than a 50% higher conversion rate and over a 70% increase in revenue per visit. These numbers, taken from over thirty-five million visits, show how important it is for customers to hear from others like them during the consideration process–before they have enough confidence to purchase the product in question.
The screenshot below shows just how easily brands can now monitor the influence of user-generated content in Google Analytics (click to enlarge).
For marketers, these findings provide yet more hard evidence that social media can be integrated with the online shopping experience in ways that move the needle on the critical metrics they already monitor.