As we are nearing July 3rd, multiple businesses are preparing themselves for the end of access to a syndication network they have relied on for years.
For many – this change means losing access to the network, syndication fees, and diminishing SEO performance site-wide.
We’d like to educate those businesses that will become the casualties of closed syndication networks through case studies that display the effects over the next 3, 6 and 9 months.
We can observe the juxtaposition between open and closed syndication as it effects two large beauty retailers whose merchandise overlaps. Retailer A will keep their open syndication network while Retailer B will not.
Both retailers sell Waterproof Mascara #62. Retailer A features Waterproof Mascara #62 with a 5-star rating based on 37 different reviews. Retailer B features Waterproof Mascara #62 with a 3-star rating and has only received 9 reviews.
Due to Retailer B’s closed network restraints – they’re feeling the decline of ratings and reviews. The limited number of submissions will also result in an overall lower rating per product.
The number of reviews that a product has on any given site is directly correlated to the likelihood of a customer converting and purchasing that product. The more reviews, the better the rating, the likelier the customer is to convert or buy. TurnTo has found that even if the product has the same rating on both sites (Retailer A & B) – the customer is more likely to buy from the site that has generated a larger quantity of reviews, in this case, Retailer A.
“When asked, 81% of shoppers would pay more for a product that has ratings and reviews vs. another product that is cheaper or offers a promotion.”
Unfortunately for Retailer B – this is not an isolated occurrence. In fact, it will impact their business going forward. Retailer B will see a decline in overall commerce on their site because customers will flock towards Retailer A as they accumulate a greater number of reviews. It’s a slippery slope for Retailer B to not amend their closed syndication network.
Wouldn’t you pick the item that has a 5-star rating with more reviews versus a 3-star rating with less?
We want to hear from you – what are your plans for open syndication?
Even though the clock is ticking – you’re not out of time just yet! Eliminate syndication worry, and increase your number of reviews by exploring TurnTo’s open syndication network that does not stop at innovation…