Bazaarvoice: Social Business Company

The bazaar has traditionally been the place where people gather, socialize, and exchange
goods. In the recent decades, bazaars have taken on a new format. Digital bazaars are the new
location where people share information and build social networks. In 2005, Brett Hurt and Brant
Barton saw that customer reviews affected online vendors sales. Recognizing this new trend,
they started Bazaarvoice1, a company based in Austin, TX. It utilizes the age old word of
mouth in a new form. Bazaarvoice has taken socialization in traditional form and digitized it to
fit todays life style.
Bazaarvoice leads the new trend of digital social commerce by selling Software As
Service Solutions (SAAS) that allows customers to talk to each other and their vendors. This
service utilizes peoples need to socialize as a way of helping companies grow and succeed.
Bazaarvoices software integrates seamlessly into a companys website, appearing as part of the
companys initiative to listen to their clients. There are various software options that vendors
can choose from depending on their needs and goals. The most commonly used option is Product
Rating and Reviews, which allows customers to rate the vendors products and write reviews
critiquing their quality and functionality. The second most popular software options is Ask and
Answer or Brand Answers through which customers ask questions about a product and receive
an answer from the retailer or manufacturer. This system tends to personalize the relationship
between consumers and brands.
In keeping up with the social trends, Bazaarvoices StoriesTM allows clients to post stories
on their vendors site. While those stories are personal, they affirm the products benefits and
strengthen the relationship between vendors and their clients. Bazaarvoices latest product,
Social Connect, establishes them as the leader in digital social commerce. This product bridges
social networks and vendors networks and websites. Using Facebook and Twitter, the two main
social networking sites, companies can leverage user-generated content on these networks to
increase business and the visibility of their brand.
Initially, many companies were apprehensive about publicizing their consumers
opinions. Interestingly, data2 has shown that consumers posting positive opinions increase a
companys sales because people trust people they believe to be like themselves. In allowing open
conversation companies can manage their customers expectations and ratings to an advantage.
The positive ratings are considered to be a testimonial of their success, and the negative
comments can be used as an opportunity to address customers concerns and demonstrate a
genuine concern for their clientele.
In her recent article, Mary Dean of Kick Skirt, a company specializing in marketing to
women, explained the difficulties facing companies marketing to women3. While women hold
85%4 of the purchasing power in America, she argues that many are uncomfortable engaging in
direct confrontation with vendors. Therefore, Bazaarvoice products allow companies to reach
and connect with their female consumers, capitalizing on their purchasing power, without the
potential of a direct confrontation.
Bazaarvoice products are quite unique as they serve both consumers and vendors alike.
Many companies fold due to not understanding their clients needs and the direction their
industry is heading. Bazaarvoice offers measurable data helping companies keep track of
1

Bazaarvoice information: www.bazaarvoice.com

Data collected by BV through industry research: http://www.bazaarvoice.com/resources/stats
3
http://kickskirt.wordpress.com/2010/03/21/if-you-dont-have-anything-nice-to-say-post-a-review-instead/
4
Found this data on multiple sites, but couldnt find the original research data
2

customer satisfaction and industry trends. On the consumer side, Bazaarvoice products foster the
creation of communities of people with similar interests; the products can also guide and even
change trends according to the consumers needs. Because of companies like Bazaarvoice, the
voice of the consumer can no longer be ignored and companies are presented with the
opportunities to gain a competitive edge over their rivals.