This article appeared on forbes.com on May 25, 2021. Brands and retailers spend more than $1 trillion every year on marketing and advertising to get consumers to buy their products. They attract shoppers to their websites, create smarter experiences, entice them to select their products and usher them to the checkout area. Unfortunately, more times than not, …
If you’ve ever traveled to Thailand, you may be familiar with a phrase that’s embedded in the local lexicon. It’s on the tongues of travelers as they bargain with vendors, and emblazoned on t-shirts and tacky souvenirs. Same same but different. To lay it out for you, what this means is that two things that …
Are you getting pressure to measure sales and sales alone? Revenue and Profit are critical metrics, no doubt. Unfortunately they are they are focused on the past. A sale does not forecast a future sale. But there are metrics that can help you accurately predict sales. Let’s contrast these two indicators. Lagging vs. Leading Indicators …
Product Reviews are Leading Indicators of a Product’s Performance Read More »
At Channel Signal, we believe that if a customer takes the time to write a product review, a brand should know what it says. What does that have to do with your Amazon product detail page? Everything. Let me explain. Why Your Brand’s Amazon Detail Page Matters If you’re a brand or manufacturer, know this: …
Ways to Gain Control Over Your Brand’s Amazon Product Detail Page Read More »
Customer Experience is Today’s Biggest Opportunity Companies believe the Customer Experience is the most exciting opportunity in business today (Econsultancy and Adobe). It’s no surprise that measuring it has become a major focus. In fact, by the year 2020, customer experience will overtake price and product as the key brand differentiator (Walker study). To measure …
Recently, we have been uncovering just how consumer product review data is driving business for today’s brands. We have also been amazed at the amount of bad data that companies are relying on to drive important business decisions with regard to marketing, sales and product development. What we have learned is that data scientists spend …
For product-focused marketers, designers and developers, it can be easy to get caught up in our own metrics. Looking at survey data, focus group results, internal analytics, customer service and warranty tickets can help us assess how we’re doing with our own customers. But how do our customers’ opinions compare to the competition’s? That really …
Competitive Product Benchmarking: Can You Answer These 20 Questions? Read More »
A couple of days ago I read a great article by Matt Powell, Vice President and Senior Industry Advisor at NPD, in his Sneakernomics series: “Nobody Wins A Race to the Bottom“. Matt addresses the issue of widespread discounting during the holiday season. He says 2018 was the “most promotional” on record, with discounting happening …
For decades, companies have relied on transactional data to determine performance. For B2C product companies, this means point-of sale data that verifies the revenue generated from the various online and brick & mortar channels. However, it’s like looking in the rear view mirror while driving. Point-of-sale data is what happened and doesn’t record what is …
Quantifying User Experience in 2019 Means Predictive Analytics Read More »
As has been often stated, 82% of consumers trust product reviews in the purchasing cycle (Pew). Their trust is second only to friends and family, by a single percentage point. That alone should tell you why product reviews matter. But let’s dive a little deeper into their importance to different stakeholders. To Consumers As word-of-mouth …
Why Product Reviews Matter More Than Ever in 2019 Read More »
