Social Proof: How To Influence Your SaaS Revenue

Research studies show that “63% of customers are more likely to make a purchase from a site which has user reviews.”

While customer satisfaction and retention lead to company growth, social growth adds to the customer experience, especially since SaaS models rely heavily on recurring revenue.

Scale, similarity, and ambiguity are three factors that determine our degree of social influence. Your adoption of social proof depends on your type of business and target audience.

From displaying testimonials on free sign-up pages to listing similar clientele, the effectiveness of social media marketing emphasized by your company’s ability to convince potential customers.

How you persuade your external influencers and existing consumers can impact your future sales.

Leverage Social Proof to Meet Your eCommerce Business Goals

Here are four ways to effectively drive sales through social influence:

1. Testimonials

The field of social psychology is always exploring our sometimes weird human behaviors. In the 1960s elevator experiment, researchers noted how an individual inside an elevator would conform to the habits of the group.

For example, if the group turns to the back of the elevator, the individual will subsequently follow the crowd, even if it’s against the norms. As people, we sometimes refuse to think or behave independently. It’s a primitive instinct; we respond without awareness of why we act in a particular manner.

Take advantage of testimonials. Short quotes from satisfied customers on landing pages and homepages can boost your conversions. The image below is a great model of how to add credibility to your services.

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A stamp of approval from a credible expert also can increase your impact with customers. Influencer marketing offers the halo effect, where our overall impression of someone influences our thoughts about everything associated with them.

So, if a well-known person has a positive reputation, we sometimes relate those feelings to the person’s involvement in other things, like events and products. That’s why influencer testimonials work well.

Take Action

  • Ask for testimonials immediately after you provide awesome customer service.
  • Add a testimonial section to all your landing pages.
  • Identify influencers in your industry, and then ask them for testimonials.

2. Case Studies

Customers are the lifeblood of a company’s legitimacy. Big name clients offer a sense of security for potential consumers. Exposing these types of clients on your websites and blog posts can drive market demand up.

However, what if you don’t serve clients, like Coca-Cola or Netflix? Case studies grant another avenue to show prospects the results you can produce. These outcomes demonstrate the likelihood that you can generate similar solutions for other clients.

The best type of case studies will exhibit the worst case scenarios, where clients endure unbelievable hardships. Then, they buy your product or service and experience a result that exceeds their expectations. Examine the example below to create your own case study.

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Case studies are essentially your sales materials. Display these success stories as calls to action. This collateral also can be available as “downloads to collect contact info from leads.” The time and effort you place into creating and distributing these case studies will benefit your company in the long run.

Take Action

  • Highlight the numerical results you’ve gotten for clients in a case study.
  • Include a short video clip about your performance from the client’s senior leaders.
  • Offer case studies as downloadable material.

3. Customer Reviews

Reviews are compelling. Econsultancy reported that “more than half (55%) of consumers report that a product with a high rating will increase their likelihood of purchasing.”

Buyers trust customer reviews 12 times more than the company’s own descriptions. Integrating user reviews with your products can be invaluable for your sales strategy. The results include increased conversions and an improved customer experience.

Plus, search engines thrive on unique, regularly updated content; thus, more reviews can raise your ranking in search engine results.

The purpose of customer reviews is to encourage adoption and acceptance. If you want people to enroll in a 15-day trial service, a current customer’s experience may influence a potential subscriber’s purchasing decision.

When considering social proof, use the following table that lists the questions to ask and testing techniques to implement:

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Naked Wines is a good representation of next-level customer reviews. Rather than just giving a rating, customers are asked whether they would recommend certain wines. This nudge of encouragement compels others to make more purchases. Moreover, the percentage of customers willing to buy the wine again is prominently displayed in a red circle.

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Take Action

  • Install a customer review widget on your website.
  • Place reviews in a highly visible area.
  • Encourage buyers to read customer reviews before purchasing your services.

4. Social Media Mentions

Social media is one of the most influential forms of outreach. One reason for this phenomenon is the fast-paced style of the channels. Especially on Twitter, in less than 15 seconds, tweets can be shared thousands of times.

Based on recent research on increasing “truthiness,” the best way to ensure people believe you is to add photos. Scientists found that participants’ trust increased when pictures were included with general knowledge.

That’s why social media is ideal for companies. Brand advocates can praise their favorite services with their online profiles. Purchasers feel more comfortable with the validity of the quote. Below are Twitter mentions about Pardot.

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In addition, remember that positive social media marketing better than negative. If you want people to click on your links or purchase your products, entice them through trust, not degradation. See the image below.

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Take Action

  • Track mentions on social media using Hootsuite or BrandMentions.
  • Save screenshots of helpful mentions for later use.
  • Encourage customer behavior with positive social influence.

The Takeaway

Social media matters. Don’t wait to be discovered. Instead, show influencers and consumers proof that you can produce results.

Whether you sell products online with Stepcart or sing worldwide at major concerts, social proof reminds people why you’re the best choice.

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