In its second-largest acquisition, Amazon buys the company for $970 million.
Network Gives Brands and Retailers Access to Massive Volume of Consumer-Generated Content to Drive Search Traffic and Improve Conversion Rates
SAN FRANCISCO, CA – JULY 26, 2011 –PowerReviews today announced the launch of its open social commerce network, allowing any brand, regardless of whether it is a PowerReviews customer, to syndicate customer conversations across the company’s massive network of more than 5,000 sites. An industry first, PowerReviews’ open approach to social commerce maximizes the impact of consumer conversations by distributing them throughout its network, no matter where the content is generated.
"Today's consumers are true participants in our business, and their insight helps improve everything from our products to our pricing to our customer service," said Kim Sturman of American Standard, a leading manufacturer of residential and commercial project solutions. "PowerReviews' open platform allows us to amplify those conversations beyond the boundaries of our site.”
PowerReviews’ syndication product, BrandShare, automatically maps product catalogues between brands and retailers, and attributes content via a “Reviewed At” tag, thereby enhancing the brands’ presence at the retail site. As part of the announcement, PowerReviews is inviting all brands to try the service for free for 12 months.
Built on PowerReviews’ multi-tenant architecture, the company’s open network gives retailers access to a massive pool of content that can be used to drive sales and search traffic. Both brands and retailers maintain complete control over who they share and receive content with, and daily, automated syndication through BrandShare ensures that that content is always fresh. There is no additional fee for retailers who are already using the PowerReviews platform.
“In many ways, this represents an opening up of the ‘walled garden’ of customer conversations. We’re taking valuable consumer -generated content from across the web and providing it to consumers at the most impactful time – the point of purchase,” said PowerReviews CEO Pehr Luedtke. “PowerReviews is the only company whose open network is helping brands and retailers approach customer engagement in a strategic way to solve a real business need.”
As indicated by a recent study conducted in partnership between PowerReviews and the e-tailing group, consumers have come to rely on the insight and feedback of other shoppers in order to aid in their purchase decisions. Ninety percent of respondents in the study reported that product reviews had an impact on their decision to purchase something, and 60 percent said that they were the most important factor. By placing feedback and insight directly at the point of sale, brands enable consumers to make purchase decisions more quickly and without having to leave the product page.
PowerReviews is the world’s largest social commerce network. It helps companies tap into consumer conversations to drive better business, while providing consumers an easy way to share their insights about brands, products and services. Leading brands have standardized on PowerReviews to drive sales, increase traffic and shape product development.
Jesse Odell or Lindsey Scott
power (at) launchsquad (dot) com