As Facebook continues to be a primary driving force behind retailers’ social commerce efforts, the solutions market is growing to help retailers uncover key revenue opportunities from loyal fans and followers. PowerReviews, a provider of social commerce solutions, recently announced Fan Accelerator, a new addition to its Facebook OnSite suite designed to enable retailers to acquire Facebook fans as part of the review process.
PowerReviews also is releasing new Facebook-related data, including an estimated value of sharing reviews on Facebook, which the company quantifies as $15.72 in sales for each shared review (based on PowerReviews’ Social Value Methodology).
Based on its history of collecting information about how retailers and brands are leveraging Facebook, PowerReviews has found that 57% of reviews written by Facebook-verified members are shared to their Facebook streams; and 70% of all reviews shared to Facebook receive “Likes” or “Comments.” At an aggregate level, 4% of all reviews are shared to Facebook, with some multi-channel retailers experiencing sharing rates of up to 8%, according to PowerReviews research.
PowerReviews also found that retailers that integrate Facebook Connect into the review submission process can encourage five times more “shares” than the more commonly deployed Facebook Share option. Additionally, 7% of all reviewers verify their review using Facebook Connect, which automatically builds a reviewer profile based on their Facebook information, with some retailers seeing verification numbers of up to 13%.
Converting Reviewers Into Fans
The Fan Accelerator solution offers retailers the opportunity to capitalize on already-engaged product reviewers by converting them into loyal Facebook fans. The solution integrates a fan-building mechanism into the review submission process. The tool is available as part of PowerReviews’ Facebook OnSite suite, which brings the Facebook experience into the customer review process.
Companies already are finding success with Facebook OnSite. Step2, a preschool and toddler toy manufacturer, has used the Facebook OnSite solution to expand its Facebook fan community. “PowerReviews has helped us accelerate fan acquisition though Facebook OnSite,” said Tena Crock, Online Marketing Director, The Step2 Company, LLC. “In the past six months, we have created a Facebook presence, integrated Facebook content into our product pages and now have adopted Fan Accelerator. As a result, we have seen conversion increase dramatically. PowerReviews has evolved with us — and the social commerce market — by providing us with new and innovative ways to capture the social opportunity.”
“Facebook is clearly the consumers’ community of choice, with over 600 million users, half of which engage with the site daily,” said Cathy Halligan, Senior Vice President of Sales and Marketing for PowerReviews. “For the past 20 months we have innovated, delivering high-performing products that increase traffic and sales as the case for Facebook commerce emerges. As a result, over half of our clients’ reviews are shared on Facebook, when written by Facebook verified reviewers. Retailers and brands working with us have seen an increase in traffic and thus conversion — directly related to their Facebook integration.”