According to ComScore, online spending reached a record $35.3 billion this holiday season, a 15% increase over last year, and this is spurred by technology that is making it easier for eCommerce to be conducted online. At the same time, there exists a fear of being defrauded or a victim of an online scam, which has led more than 90% of consumers that shop online not to complete a transaction according to the KikScore survey. That is a lot of money being lost. The small business report card is actually pretty interesting in the data it provides to website visitors. KikScore takes information about financial history, website security, traffic trends, location of the business, certifications and business policies (return, privacy, customer service etc) to create an online trust score. The score and the data on the report card are fully dynamic and each are constantly updated. Think Klout for small business without the social information. Malik told me that KikScore is working on incorporating social data and information from Facebook, Twitter and LinkedIn into a small business report card. The KikScore Report provided these following recommendations for small business to act on to start addressing the information asymmetry: Do you think online trust measurement leads to higher conversions? Should bloggers have a seal? Please comment and let us know.
