February 11, 2014
Bazaarvoice, Inc. and Medallia Collaborate to Help Companies Increase Consumer Review Volume and Engagement
Integrated survey and review solution can improve average ratings, conversion, and customer revenue
AUSTIN, Texas, Feb. 11, 2013 — Bazaarvoice, Inc. (Nasdaq: BV), the network connecting brands and retailers to the authentic voices of consumers wherever they shop, today announced that it has entered into a collaborative agreement with Medallia®, the global leader in SaaS Customer Experience Management (CEM) solutions. Under the agreement, the Medallia Promote™ offering and Bazaarvoice Conversations review platform have been integrated to allow clients in the hospitality, travel, retail, financial services, and other industries to collect authentic customer reviews as part of the same process consumers use to provide survey responses for customer satisfaction tracking.Capturing timely customer feedback is a proven tool for businesses to understand and act on the needs of customers, leading to higher conversion rates and revenue. The combined survey and review solution from Medallia and Bazaarvoice helps clients achieve these goals by increasing review volume and engaging customers to provide a review while they are already in the process of giving feedback in a survey. The combined solution includes:
- Medallia’s SaaS customer feedback application that enables companies to easily gather customer feedback via email, mobile, web, and social media and includes an invitation process that drives feedback after a customer completes a transaction or after a certain period of time in the customer/company relationship.
- A simplified workflow that allows participating clients to invite their customers to complete a survey and, in the same process, share their opinions with other customers as a review—all with a single click.
- Bazaarvoice Smart SEO™, which ensures that user-generated content can be crawled and indexed by search engines as “static” content, driving higher placement in search results, boosting search engine traffic, and driving traffic to the brand site.
- Medallia’s analytics and reporting engine, which combines all feedback from surveys, social media and Bazaarvoice reviews and delivers insights and specific actions to business users across the organization in tailored views for each employee.
Beta tests of the combined solution found that clients can increase review volume by more than 50 percent, which can generate overall increases in review scores. These increases in review scores have shown to drive an up to 0.2 percent lift in conversion with every additional review, leading to a potential 10 percent increase in predicted bookings and sales.
Comments on the News
Fred Mondragon, vice president, Business Development at Medallia:
“Our agreement with Bazaarvoice helps our mutual clients provide a better experience for their consumers by combining the often duplicated steps of asking customers to provide both survey and online review feedback. As online reviews play an increasingly influential role in consumer purchase decisions, solutions that simplify the review submission process present a tremendous opportunity for companies to more effectively capture feedback that can be shared with other consumers.”
Alan Godfrey, executive vice president, Business and Corporate Development at Bazaarvoice:
“We believe that brand loyalty will very much depend on a company’s ability to build a digital marketing asset of consumer review content, particularly as the lines between online and offline shopping continue to blur. We’re pleased to partner with Medallia to help our clients capture more authentic content so they can improve their engagement with consumers and, ultimately, focus more acutely on the needs of the customer.”