2013 BIZRATE CIRCLE OF EXCELLENCE WINNERS ANNOUNCED
Award Symbolizes Top Quality Customer Experience and Aids in Conversion
CUSTOMER RATINGS & REVIEWS, TRUST SYMBOLS ARE A DECIDING FACTOR IN MAKING PURCHASES ONLINE ACCORDING TO NEW SURVEY
LOS ANGELES – September 24, 2013 – Bizrate Insights, one of the largest sources of consumer-generated reviews of online retailers in the United States, announced the winners of its 14th annual Bizrate Circle of Excellence Award today. The award recognizes retailers that received outstanding online customer satisfaction ratings in each of seven key satisfaction indicators throughout a one-year period, as rated by their own, verified customers.
The 2013 Bizrate Circle of Excellence Award was earned by 133 online retailers, representing the top 2.6% of the Bizrate Insights North American Network. Among the award winners, 66 retailers received the highest distinction, the Platinum Award. The Bizrate Circle of Excellence Platinum Award is conferred to retailers that achieved winner status plus a score of at least 9.0 out of 10.0 in all seven key satisfaction indicators reviewed for the award.
“Earning the Bizrate Circle of Excellence Award signifies a retailer’s unwavering commitment to its customer’s satisfaction,” noted Bill Glass, CEO of Shopzilla, Inc., parent company to both Bizrate and Bizrate Insights. “Showcasing this award on-site broadcasts that the best online retail experience awaits shoppers, and research has shown that it can ultimately boost sales.”
“Our goal for retailers is to help them continually grow their business by making customer-centric improvements, while our goal for consumers is to help them identify retailers who will provide great online shopping experiences,” stated Hayley A. Silver, Vice President of Bizrate Insights. “Earning and showcasing this achievement does both. The Bizrate Circle of Excellence Award rewards those retailers who demonstrate the highest levels of customer satisfaction, while also signifying to shoppers that a store is trustworthy.”
The results of a study that Bizrate Insights conducted with over 5,000 verified online buyers demonstrates the importance of highlighting a retailer’s reputation through trust symbols and award vehicles like the Bizrate Circle of Excellence Award. The study shows that:
- 50% utilized a trust symbol as a deciding factor in whether or not to purchase from a website
- 75% read customer ratings and reviews about a website while considering a purchase
- 48% clicked through on trust or security symbols to verify information
- 41% look for online trust symbols when they are not familiar with the retailer
In addition, Bizrate Insights found that these trust symbols result in higher conversions for online retailers. For Sole Provisions, a two-time Circle of Excellence winner and purveyor of on-trend and comfortable footwear, including the award and Bizrate Customer Certified Medal in their marketing materials and website resulted in a 2.5% lift in conversion. “Positive customer feedback is rewarding on its own, but our ability to use that recognition to impact business is a win/win,” said Holden Nagelberg, CEO of Sole Provisions. “Incorporating the Bizrate Insights medals in all of our marketing communications has increased click-through rates from email, and conversion to purchase.”
Bizrate Circle of Excellence Satisfaction Indicators
Point of Sale metrics
|Post Order Fulfillment metrics|
Winners must score statistically significantly higher that our Network average on all seven satisfaction indicators. Platinum Winners (*) must also score a 9.0 or above on all seven indicators. Customer feedback for the 2013 Award was collected August 2012 – July 2013.
The 2013 Bizrate Circle of Excellence winners are:
About Bizrate® Insights:
With over 20 million surveys collected annually from over 6,000 retailers worldwide, Bizrate Insights is the largest source of verified customer-generated seller ratings and reviews, helping both online retailers and consumers make informed decisions. Bizrate Insights’ core solutions are FREE, allowing retailers of all sizes to build best-in-class customer experiences, gain competitive intelligence, and attract more qualified traffic from top search engines. Visit BizrateInsights.com to learn more about our solutions, used by over 40% of Internet Retailer Top 500 retailers, as well as thousands of smaller boutiques.
About Shopzilla, Inc.
Shopzilla, Inc. is a leading source for connecting buyers and sellers online. Reaching a global audience of over 40 million shoppers each month through both its destination websites and affiliate network, Shopzilla connects shoppers with over 100 million products from tens of thousands of retailers a month. Shopzilla, Inc. manages a premier portfolio of online shopping brands in the US and Europe, consisting of Bizrate, Beso, Shopzilla, Retrevo, Tada, PrixMoinsCher, and SparDeinGeld, as well as a series of B2B businesses including Bizrate Insights, Shopzilla Publisher Program, and a display and audience targeting division, Aisle A. Headquartered in Los Angeles, CA, the company operates sites and business services in the United States, the United Kingdom, France and Germany. Shopzilla, Inc. is a portfolio company of private equity investor Symphony Technology Group (STG).