meet the centennials: connecting with the next generation of shoppers
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PowerReviews, Inc. Confidential
Meet the Centennials: Connecting with the Next Generation of Shoppers
PowerReviews, Inc.
Ask Questions• #PowerReviews on Twitter
• Post them in the questions panel on the right
of your screen. We will answer at the end.
• You will receive a link to the recorded
webinar.
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PowerReviews, Inc.
Speaker
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Theresa O’Neil, SVP of Marketing
Theresa is responsible for building and leading the PowerReviews marketing team in the development and execution of programs that increase awareness of the PowerReviews brand and technology. Theresa brings more than 20 years of experience developing marketing, sales and business development strategy.
PowerReviews, Inc.
● Meet the Centennials
● Social media and reviews
● The shopping journey
● From browsers to buyers
● Engaging Centennials
● 4 keys to success
● Q&A
Agenda
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PowerReviews, Inc.
The survey1,747 US and 1,585 UK Millennials and Centennials
Goal:Investigate the online and in-store shopping habits of the Centennial generation, identifying how brands & retailers can refine their marketing plans to best influence this demographic.
Timing:September 2015
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Meet the Centennials
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How are they different than Millennials?
Source: International Bureau Times, 2015.
High expectations for information
Average access to three screens
Technology provides Millennials with a wider spectrum of options, encouraging less brand loyalty
Aged 19-34
Discoverers of technology where options appeared
limitless
Pioneers ofsocial media
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Who are the Centennials?
Source: International Bureau Times, 2015.
High expectations for information - instantly
Average access to five screens
Equipped with tools to seek out answers and make informed decisions
Aged 13-18
Born with technology
Mobile-native generation
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I have specific initiatives for: ● Centennials● Millennials● Both● Neither
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Why should you care about Centennials?
Sources: U.S. Census Bureau, National Center for Biotechnology Information, U.S. National Library of Medicine, the Associated Press, JWT
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25% 40%
They currently make up a quarter of the population
By 2020, they will make up 40% of the population
They contribute $44 billion in
spending power each year
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Reviews as Social Content
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Source: PowerReviews Centennial Shopper Study, 2015
Social content impacts purchase decisionsBut not as much as reviews
Centennial Millennial
a written review on a retailer/brand/product website
A friend’s post on a social media channel
10% 20% 30% 40% 50% 10% 20% 30% 40% 50%
What type of reviewsdo you trust most?
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Starting the Shopping Journey
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Research first, spend later
Source: PowerReviews Centennial Shopper Study, 2015Source: PowerReviews Centennial Shopper Study, 2015Centennial
20% 40% 60% 80% 100%
What is most true about you? I tend to make spontaneous,
emotionally-driven purchases
I tend to take my time with most purchases, researching price, product reviews, etc.
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Consumers are looking for reviews for...Where are they doing their product research?
5% 10% 15% 20% 25% 30% 35% 40% 45%
52%
Laptop or desktop computer
37%
Mobile phone
6%
In-store
5%
Tablet
50%
Centennials prefer to browse on a laptop or desktop computer
Source: PowerReviews Centennial Shopper Study, 2015
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Why Reviews
70% of Centennials say that
quality is more important to them than price.
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95% of Centennials search and read reviews to validate their product choice
How do they determine quality?By reading reviews
Half of Centennials won’t purchase a product if there aren’t enough reviews
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Where are they reading reviews?
Source: PowerReviews Centennial Shopper Study, 2015
Over a third want to see reviews directly on a brand or retailer’s website
Source: PowerReviews Centennial Shopper Study, 2015Centennial
0% 10% 20% 30% 40%
Where do you typically search and view reviews?
On social media (Facebook, Twitter, YouTube, etc.)
I never search or read reviews
Directly on the brand/retailer’s website
On a 3rd party blog/website (Amazon)
50% 60%
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“If you fail to engage with Centennials, they have the
independence and control to conduct their entire shopping
journey without you.”
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Key tips for engaging Centennial browsers
Emphasize quality and differentiationDiscuss the best qualities of your product, rather than exclusively low pricing and delivery costs.
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Engage early online Tailor your website for research purposes and purchasing.2
Bolster your online presenceEnsure your website is mobile optimized so it’s easy to view and navigate whenever your customer is.
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Converting Centennial Browsers to Buyers
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Consumers are looking for reviews for...How much do Centennials value reviews?
5% 10% 15% 20% 25% 30% 35% 40% 45%
56%
Price
32%
Reviews
8%
Recognizable brand name
4%
Free shipping
Reviews are second only to price
50% 55%
Source: PowerReviews Centennial Shopper Study, 2015
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58% of Centennials want to read reviews when they’re unfamiliar
with a brand or retailer
Reviews are imperative for new products & brands
Source: PowerReviews Centennial Shopper Study, 2015
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Instant answers or walk away
45%of Centennials say they won’t buy a
product if they can’t ask a question
about it2/3
of Centennials prefer having their
questions answered by
previous customers
Source: PowerReviews Centennial Shopper Study, 2015
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Consumers will find review content
Drugstore Ulta
If you don’t have the content, Amazon does
Source: PowerReviews Centennial Shopper Study, 2015
79% of Centennials admitted going straight to another
retailer or to Amazon if they couldn’t ask a question on a
brand’s product page
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Why Reviews
40% of Centennials won’t purchase a product if there are no photos of
people using the product.
Visual content is key
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Back in store?
Centennials browse online but like to purchase in-store
Centennial Millennial
browsing for product online
purchasing in-store after browsing online
20% 40% 60% 80% 100%
How are Centennials browsing for products?
Source: PowerReviews Centennial Shopper Study, 2015
20% 40% 60% 80% 100%
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Why are Centennials more likely to make their final purchase in-store?
● Social activity (shopping with friends)● Get the item immediately ● In-store/student discounts● Purchase with cash● Avoid shipping and return shipping fees
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Key tips to turn Centennial browsers into buyers
Highlight new productsValidate fresh-to-market products with reviews.1
Turn customers into brand ambassadorsMake it easy for them to talk, source product reviews, share product images, and ask and answer product questions.
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Blur the lines between online and in-storeCreate marketing campaigns that recognize that Centennials will browse online, then may buy in-store.
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Getting Centennials Engaged
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Centennials reluctant to engage
23%would be more likely to leave a
review if given an incentive
62% haven’t written an online review in the past month
Source: PowerReviews Centennial Shopper Study, 2015
PowerReviews, Inc.
When are Centennials most likely to leave reviews?
5% 10% 15% 20% 25% 30% 35% 40% 45%
37%
I was unhappy with the product
23%
I had an incentive, such as a discount on future purchases or free sample
21%
I was happy with the product
19%
I spent a lot of money on the purchase or time considering the purchase
50% 55%
When they are unhappy or encouraged
Source: PowerReviews Centennial Shopper Study, 2015
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Negative reviews have their part to play
44% of Centennials said they wouldn’t trust a product’s reviews if there were no negative reviews present
60% of Centennials read negative reviews first.
4.2-4.5 is the average ideal star rating
Sources: PowerReviews & Northwestern University, From Reviews to Revenue Report, 2015; PowerReviews Centennial Shopper Study, 2015
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Does your organization respond to negative reviews?
● Yes● No
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Key tips to keep Centennials engaged
Motivate shoppersOffer discounts or free samples to help generate reviews and images1
Be transparent and authenticDon’t remove negative reviews, and indicate if incentives were provided to the review writer.
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RespondEngage with reviewers to resolve problems and build brand relationships.
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What can you do now?
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Put review content front and centerto meet the needs of Centennial shoppers1
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Optimize your website for mobileso Centennials can find what they’re looking for, regardless of the device they’re using
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Collect Photos and Videosas part of reviews, as Centennials like to engage with visual content3
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Insist on Transparency and Authenticity don’t delete reviews and indicate when a review resulted from a promotion or free sample
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PowerReviews, Inc.
Ask Questions• #PowerReviews on Twitter
• Post them in the questions panel on the right
of your screen. We will answer at the end.
• You will receive a link to the recorded
webinar.
41
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Questions?
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www.PowerReviews.com/genz
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Thank you.
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