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1. THE BEGINNING
This innovation came to life when…
Sam ran a Bigcommerce store. He got lots of reviews on eBay but could not get reviews using the rigid bigcommerce review system. His competitor also displayed many fake reviews. Sam also worked for the peak Australian consumer protection/competition law body for 2.5 years; this made him want to build software that can help consumers get a better deal and make businesses compete more.
2. WHAT & HOW
The purpose of this innovation is to…
We help (B2B service) businesses get the most credible and relevant testimonials and promote them on their website and on social media.
It does this by…
Each time a testimonial is written the user is invited to login with a social network. When they do this, we badge their testimonial as verified.
3. PURPOSE & BENEFITS
This innovation improves on what came before because…
Even though testimonials and referrals can make businesses lots of money, most businesses don’t do testimonials or when they do they’re poor quality.
The benefits to the customer/end-user include…
It helps the business make more money, and it makes it easier for end-users to discover and trust brands.
4. COMPETITIVE LANDSCAPE
In the past, this problem was solved by…
The social aspects of it are new, the ease of integration is also fairly new (mobile friendly, responsive cross-domain iframes are not easy to make).
Its predecessors/competitors include…
PowerReviews (review systems), Salesforce (CRM), Baazar Voice (customer intelligence and integrations), Disqus (commenting), to some extent the social networks (Facebook, LI recommendation plugins).
5. TARGET MARKET
This innovation is made for…
B2B businesses, especially those where online/social presence is important.
6. DISTRIBUTION STRATEGY
It is available for sale through…
Our website, resellers like web developers, direct, referral.
Our marketing strategy is to…
Promote testimonials from our customers like this one:
“We use Feedback Loop in our client’s websites. One in particular is a large company with over 43,000 business customers.
After an easy setup, we ran a test on the client’s website. Half of the visitors were directed to the old testimonial page, and the other half were directed to the new Feedback Loop page.
2 months later, there was an 80% increase in sales enquiries from visitors who viewed the Feedback Loop page.
This made it clear to us that Feedback Loop helps our client acquire new customers. We’re now setting up Feedback Loop for our other clients.”
– Katrina McKinnon, Owner at McKinnon Group
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FINE PRINT
This SMART 100 profile and the information it contains is a duplication of content submitted by the applicant during the entry process. As a function of entry, applicants were required to declare that all details are factually correct, do not infringe on another’s intellectual property and are not unlawful, threatening, defamatory, invasive of privacy, obscene, or otherwise objectionable. Some profiles have been edited for reasons of space and clarity.
