Many companies spend 80% of their time gathering analytics, and only 20% acting on their findings. We argue that this 80/20 rule should be flipped. Your team’s valuable time shouldn’t be spent on extracting, transforming, analyzing and presenting analytics. It should be spent acting upon the insights garnered.
And if you’re a brand or manufacturer, one of the easiest and most actionable pieces of analytics would be your consumer product reviews. What are the hard numbers, on a scale of one to five stars, that consumers are assigning to your products across different ecommerce sites? If you don’t know, you’re missing a critical performance metric. And if you are doing this by hand, you’re quite frankly wasting time on an inexact science.
More Than Just a Number
Not only can Channel Signal Product Review Insights provide you with a plethora of ways for scoring and quantifying your product reviews, we also give you real insight into what customers think. Our word analysis tools pull the most commonly used terms in your positive and negative reviews, and then real human analysts spot check it to be sure we are accounting for language considerations.
This report is one of the most actionable pieces of data your teams could look at in a month.
How Your Teams Use Review Data
- Product Development—Your product development team can take the information learned back to the drawing board to create better products for next season. Address the complaints and suggestions of your customers and they will come back for more.
- Marketing—As your marketing team reviews our reports, they will be able to play up what is resonating with consumers. On the other side of that coin, they can be prepared to change messaging to reflect common questions and topics that came up in the reviews. Their terminology and tone can reflect those of real customers.
- Sales—Product review volume is an easy predictive piece of data that can indicate future sales, as we see the review line in lockstep with sales numbers time and time again. What’s more, your sales team can address praises and complaints once they’re aware of them.
- Customer Service—Complaints about a product line? Monitoring online reviews helps supply advanced warning and can arm your customer service teams with the answers so they can respond in the way you want them to.
CEO Paul Kirwin on the Power of Product Reviews