For as long as we’ve known, brick and mortar sales have been the big draw of Black Friday, the shopping experience and the tradition being the impetus. But shoppers’ own experiences, combined with how the media portrays long lines, a frenzied atmosphere and general chaos, motivated many to move to the alternative. The atmosphere of …
Most companies are still inside looking out. They are building products that they think consumers will buy. Sure, many get feedback from athletes, focus groups or surveys. But most of this information comes from people who have a limited degree of interest or have been incentivized monetarily or with free product. Worse yet, some have …
Your Company May Not Be as Buyer Centric as You Think Read More »
According to a McKinsey survey, more than 25% of a company’s total revenue and profits come from the launch of new products. The same research also shows that more than 50% of all product launches fail to hit their business targets. That’s a big problem. And in today’s world where we are constantly over-saturated with …
These Two Groups Amount to Your Most Powerful Sales Force Read More »
Companies spend millions of dollars on Voice of the Customer (VOC) tools. The goal? Understand their customers and prospects in order to improve products, customer service, messaging and marketing. These tools include surveys, focus groups, customer service reports and athlete or celebrity endorsements, among others. However, collecting and measuring the true Voice of the Buyer (VOB) …
In some companies, the CEO may feel the furthest away from the buyer, save for some distant investor or board member. But in the consumer age, it’s more important than ever for CEOs to be close to the buyer. One way for them to achieve this is by monitoring product reviews. Consumers buy products and …
After much research Channel Signal has come to the conclusion that, 5% of buyers generally write product reviews. Now, this percentage varies widely and depends on price and momentum (either positive or negative). But, again, across all products that number lands at 5%. Now if 5% of buyers write the reviews and 90% of consumers …
Paul Kirwin, CEO of Channel Signal, discusses how current companies are measuring product review feedback. 1) They Don’t Many companies don’t collect, measure or analyze their products reviews. These companies have no idea what the true voice of the customer is with regard to product performance. They don’t know why products are failing or why products …
It’s clear that consumer generated product reviews are getting more attention by consumers and the brands they write about. And yes, reviews are now considered a key metric when a company needs to determine product performance. In this video, we address how to make product reviews actionable, what to do with good reviews and what to …
What do Brands do with Online Product Reviews? [VIDEO] Read More »
Product reviews address real issues faced by the customer. When leaving reviews, consumers take time to craft well thought out and detailed reviews. Unlike social posts which tend to be a stream of consciousness, product reviews offer a hard metric companies can use to improve product design, new product development, sales and customer service. Channel Signal …
8 Topics Consumers Discuss in Product Reviews [VIDEO] Read More »
With an overwhelming 68% of all product reviews being very positive (5 stars) increasing the volume of your product reviews is critical to increasing sales of your products.Channel Signal recently conducted a survey of over 140,000 product reviews in the outdoor industry. The below video describes why volume is so important. The more reviews any …
The Average Breakout of Product Reviews (1 to 5 Stars) [VIDEO] Read More »
