2018 will be Taggstar’s fifth Golden Quarter. Since 2013, huge online retail brands like Very.co.uk, Littlewoods, JD Williams, Matalan, House of Fraser and others, have used our real-time social proof messaging software to improve their conversion rate and sales. We’re now delivering over one billion real-time product trend messages, and millions in extra revenue each month. We’re proud to be able to lay claim to an impressive conversion rate uplift of up to 12%.
Now, we’re no longer just talking about Black Friday. We know that the major retailers now start their holiday season campaigns early, with a calendar of price-beating discounts, offers, and ‘beat-the-competition’ incentives, from late November through the holiday season.
Learning from the higher average order values; higher basket volumes and much higher average conversion rate uplift, that they’ve seen from using social proof messaging, the major eCommerce sites that we work with have already started to build their social proof roadmap for Golden Quarter 2018.
While we’ve proven higher conversion rates throughout the year where social proof messaging is used, during peak shopping events like Black Friday and Cyber Monday, the difference - and therefore the potential for you to benefit from even greater sales and revenue - is much higher.
What is Social Proof?
Imagine walking past an empty coffee shop. The seats are empty and there’s no one queuing. Not very appealing. It’s the same with your website - and Taggstar works by making your online shop look busy and popular, because we know that it’s human nature to want to follow the crowd.
Taggstar works by applying this crowd power to sell online.
It works using our purpose built algorithm which collects aggregated, anonymous, real-time online shopping trends, like what your other shoppers have looked at, bought or added to basket. This is used to display real-time factual messages on your website about product popularity, sales, stock scarcity and other product information, at planned times in the online user journey.
Because social proof tells your visitors that they are following in the footsteps of others, they’re more likely to buy than shoppers who haven’t seen the messages. We’ve proven this, via our own A/B tests, and seen product conversion rates improve by up to 12% when our social proof is shown.
This helps retailers to convert more browsers into buyers by:
- Higher Conversions: Nudge customers through your online sales funnel using social influence
- Better Engagement: Bring peer group excitement to your online shopping experience
- Establish Your Brand: Aggregate global trends to show how international customers browse and buy
- Integrated Marketing: Pull the social proof data that already sits in your existing social feedback into Taggstar to create richer social proof
Most of our customers use social proof messaging on their product description pages (PDP), and sometimes on the product list page (PLP), but (again via A/B testing), we know that there’s the potential for even better results when Taggstar is used throughout the shopping funnel.
Having Social Proof in Place Is More Important in the Golden Quarter
Having social proof messaging in place is important all year round. We’ve measured better conversion rates and higher average order values on every day of the year, where our customers show the messages. But, on Black Friday, Cyber Saturday, Cyber Monday and other holiday shopping peaks, it really is all about the crowd, and the differences between conversion rate uplift are more pronounced - and therefore the potential for higher sales and revenues, are also higher.
Many of our customers are in their fourth of fifth year of using social proof during the Golden Quarter. Missguided has been using Taggstar since 2016, and has a specific story to tell as it gave us the mandate that Taggstar must be in place by Black Friday.
Missguided & Black Friday Social Proof
The Taggstar/Missguided software integration was whip-fast using Google Tag Manager, and live across all products on the UK, USA, and Australian sites, by 11th November 2016.
The site uses Taggstar to collect, aggregate and display international customer behaviour, it's now able to display real-time product messages about who's looking, who's buying and what's trending across its ten international websites.
The powerful global and local product trend stories have had an impact. Using the sense of Global-FOMO, sales conversions have grown by an impressive 1.34% and added millions in revenue, as buyers rush to buy popular products.
“Taggstar has added millions in revenue.” Mark Leach, Head of eCommerce, Missguided, 2018
Read the full Missguided story here.
Get the full report here.