17 . 10 . 17

eCommerce Show North – Intelligent Commerce Round-up 11th October

A Round-up from the Intelligent Commerce Theatre

Last week I gave a talk on Site Speed at the eCommerce Show North (see more here), however I also wanted to provide a quick round-up of my favourite talks from the Intelligent Commerce Theatre on Wednesday 11th October.

Riskeye – Reputation Management

Nicola Byrne from Riskeye provided an illuminating insight into the world of reputation management and the potential impact that negative comments online can have on a brand. It seems incongruous that businesses will spend millions on a website and then plough thousands of pounds into acquisition and social channels, without investing in a reputation management platform.

Riskeye combines an algorithm monitoring keyword use on social platforms, with a team of analysts who will review all posts that are flagged by the algorithm, to ensure that negative posts are detected as soon as possible. They then use community guidelines to remove the offended post without the need to begin legal action, but should the worst happen they also provide an insurance package that covers crisis management.

Interestingly Nicola, highlighted that a high proportion of negative comments often come from the employees rather than consumers, therefore it is important to monitor all brand mentions and not just interactions with owned social media accounts.

Endless Gain – Biometric and Psychology based CRO

Ben Ambridge, a Professor of Psychology at the University of Liverpool, provided an introduction to the biometric and psychological analysis techniques used by Endless Gain to conduct Conversion Rate Optimisation. In addition, to standard biometrics tests, such as eye tracking and pupil dilation, they utilise EEGs to track brain function and Galvanic Skin Response to monitor minute changes in the stress levels of the test subjects. The ability to monitor minute changes in brain function and stress level provides detailed insights into the interactions a user is having with your website.

The data is then used to inform changes to the site, along with psychological techniques that will help to drive a higher level of conversion on a desired product. One example Ben used during his talk was the Decoy effect employed by The Economist.

There used to be just two ways of subscribing to The Economist: Online ($59), or Print ($125). However, The Economist used a third to great effect. They added a new Online + Print option also for $125, with the Print only option now being used as the decoy, as who would pay the same for just Print when you could get Online + Print for the same price?

The use of the Print only option as the decoy resulted in a dramatic change in the subscription choice of subscribers. Prior to the use of the Decoy Effect 70% of the users selected the online option, however after its implementation 80% of users selected Online + Print, thereby generating a significant amount of increased revenue for The Economist, simply by having an option nobody would select.

twentysix – Journey Science and Consumer Psychology

twentysix’s own UX and Insights Director, Richard Jones, addressed the subjects of Journey Science and Consumer Psychology. Journey Science is an attempt to seek to understand and map patterns of behaviour across multiple data-sets with the intention of creating a single customer journey data view. Richard highlighted how the same user journey, paying a bill, may have a vastly different number of touchpoints (from 2 to 10) and a significantly longer timescale (from 10 minutes to 5 days), based on the technology used to pay the bill. Therefore, creating a holistic view of this data, is key to enhancing the future customer experience.

This is especially true when considering that some data-sets may have 18 different data sources and contain more than 1 billion customer interactions, leveraging this data to improve the user experience requires the integration of big data techniques and data science methods that are the hallmarks of Journey Science.

Consumer Psychology is the study of the underlying cognitive processes that explain consumers’ choices and how they respond to the influence of marketing. It includes the use of emotional ideas, promotion of exclusivity and the introduction of fear, uncertainty and doubt.

How does this fit into Intelligent Commerce? Richard reminds us to think like a five-year-old: be curious and always ask why? That is to say always question the customer experience and whether it could be improved. The example used in the talk was the purchase of tiles from an online retailer, where the actions of an individual delivery driver resulted in a positive resolution to a potential negative customer experience. However, the positive experience was arrived at unintentionally, therefore it is up to brands to take on positive feedback and feed these processes into the standard customer experience.

A final key takeaway was that data should always inform and not lead key business decisions, as the latter can result in catastrophic business failures. For instance, Nokia used big data to make the decision to not produce large form factor phones (in the pre-iPhone era), despite contradictory feedback from consumers that this device type was desirable. Nokia ignored the human insights and made the decision purely based on the data and the rest as they say is history. The decision to prioritise data over human insight ended Nokia’s dominance of the mobile phone market and opened the door for Apple and Samsung to take over this sector.

Dan NutterDan joined twentysix in 2013 and now holds the role of Technical SEO Specialist. He has an unhealthy obsession with Excel and in his spare time he enjoys driving with the roof down. You can find him on Twitter and LinkedIn.

Share This: