Jivox, provider of a platform for data-driven advertising and marketing, announced a partnership with Taggstar to help online retailers improve the relevancy and impact of their online display and retargeting advertising. Under the agreement, Taggstar’s Social Proof Engine will be used to pull real-time data about product popularity and other trends based on shoppers’ online browsing history. The Jivox IQ Dynamic Ad Platform will then allow personalized dynamic ads to be created for Jivox e-commerce customers using Taggstar’s real-time data for better consumer targeting.
Social proof is described as “a psychological phenomenon where people assume the actions of others reflect correct behavior for a given situation.” In the context of e-commerce, social proof – e.g., product reviews, customer ratings, top-trending items and product scarcity – can be used by online retailers to increase the likelihood consumers will complete their purchases.
“Large global retailers rely on Jivox’s data-driven ad platform to deliver their most demanding personalized ad campaigns. Our partnership with Taggstar allows them to personalize these ads even further and ultimately drive more revenue from their online sales channels,” said Diaz Nesamoney, president and CEO, Jivox (pictured top left). “Integrated with Jivox-powered ads, Taggstar’s real-time social proof messages can dramatically increase sales-conversion rates across every stage of the purchasing funnel.”
Shop Direct, the UK’s fourth-largest online retailer, recently added social proof messaging to its flagship Web sites. As a result, the retailer drove a massive 2.7 percent uplift in its sales-conversion rate – equating to £14M ($20M USD) over 18 months. “The 2.7 percent increase we added to our sales conversions is incredible given the scale of our retail sites,” said Jonathan Wall, e-commerce director, Shop Direct. “Adding Taggstar has been the single-biggest driver of incremental revenues in our financial year 2014/15.”
Using the Taggstar Social Proof Engine, Jivox online retail customers can now build digital display and retargeting ads using up-to-the minute social data on who’s viewing and purchasing products. And for prospecting ads, where the shopper has never previously visited a website, Jivox is able to use prior browsing behavior, in addition to hundreds of geographic or behavioral variables – such as time of day, weather, season, price bracket or demographics – to deliver an ad recommending similar, relevant items to drive customer traffic to a site for the first time.
“Whereas people might ask for friends’ opinions when they are shopping in-store, online shopping is a solitary experience. Social proof can provide online shoppers with a virtual ‘thumbs up’ that what they’re thinking of buying is the right decision,” said Marjorie Leonidas, managing director, Taggstar (pictured left). “Through our partnership with Jivox, online retailers can now increase sales conversions through super-targeted digital advertising. And even when consumers have left a site, or never even visited that site, we can drive traffic to specific products that we know these shoppers will like.”
The Taggstar Social Proof Engine is available now to Jivox online retail customers worldwide.