In the rapidly evolving, volatile and fiercely competitive world of retail, time to value (TTV) is a critical factor when investing in new technology.
Time to Value refers to the duration of time it takes for a customer to realise the benefits of a technology investment after implementation. The shorter the time between implementation and value realisation, the better. But why is Time to Value such an important metric? And why are we so bullish about Taggstar when it comes to TTV?
It was never easy to be a retailer. Even before COVID, the space was changing so fast it was almost impossible to keep up, largely driven by new technologies and extremely savvy shoppers. Then COVID came along, and everything got even harder. Today, most retailers have tighter budgets and fewer resources, but their performance goals are the same or higher. And the competition for consumer share of wallet is fiercer than ever.
As a retailer, you need strategies and tools that will help you grow – quickly – with limited disruption to business as usual and a high ROI. Taggstar’s social proof messaging platform ticks all of these boxes and then some: extremely easy and fast implementation, limited resources required, no disruption to current business operations, near-immediate results and guaranteed return on your investment.
Fast and easy implementation
Most retailers dread the implementation of a new technology solution or platform. The process is almost always longer than anticipated, with numerous bottlenecks underway and somehow always over-budget. Of course, all technology providers promise easy and fast implementation, but after a decade in the business, we’re pretty proud of our track record. A typical implementation of Taggstar’s social proof platform can be done within ten business days. As a result, retailers like Crew Clothing, Michael Kors, Nobody’s Child, and Lakeland went live within two weeks from the kick-off date.
“We were also impressed with how easy the technology was to implement. We strive to embrace innovation and thanks to the great teamwork we saw between our business and the team at Taggstar we were able to deliver social proof messaging quickly and with no distractions.”
Alex Buckingham, Head of Digital Experience, Charles Tyrwhitt
Limited resources required
Implementing a new technology usually requires you to dedicate IT/development and design resources, not to mention time for training and onboarding. That means pulling people from their day-to-day jobs, which most retailers can’t afford. Implementing Taggstar social proof messaging really does not require many resources on your end. Our team sets everything up – we can even handle design – and there is very little onboarding required. Once live, your dedicated customer success team will manage your account and continually optimize for the best possible performance.
Whether the objective of a new platform implementation is to boost sales or increase operational efficiency, the ultimate success of the investment is evidenced in the results. And in the world of retail and digital commerce, results cannot come fast enough. For Michael Kors, getting the biggest ROI in the shortest time possible was a criteria for investing in social proof messaging. The investment paid off. Within 1-2 weeks of going live with Taggstar’s social proof, Michael Kors saw significant results in both conversion rate uplifts and cart abandonment reduction.
The proof is in the pudding, but sometimes it helps to see the numbers upfront. Check out our conversion calculator to see how your business would benefit from investing in social proof messaging.
What it all comes down to is the return on investment, and realising the return fast, so new revenue can be allocated to further grow your business. Taggstar pays for itself very quickly through an immediate uplift in online conversion rates (some retailers have reported a conversion rate increase of 20%+), increased sales and reduced returns. Retailers continuously invest in Taggstar social proof because of the proven and fast return on investment – sometimes as high as 5000%.
Invest in social proof messaging today and start seeing results before peak!
Contact us today to learn more about social proof messaging and how we can help optimise the customer experience and deliver real results immediately.