By now, you may have heard us talk about the 85/15 split. What we mean by this is that retailers who rely on reviews solely from their brand.com are only accessing 15% of the review landscape. And this is problematic. At a time when an epic battle between supply and demand is underway, brands have an underutilized asset at their fingertips—the consumer. Low stock, shipping delays, and sold-out items are causing consumers to rely on reviews more than ever (more on this in our latest Forbes article) to choose second and third options, air their grievances, share information, and support retailers. Brands need to tap into the other 85% to listen to what customers are saying across the marketplace to thrive now and into the busy holiday season.
Now, we know what you may be thinking. With 15% of your reviews, you can get a general idea of consumer sentiment—which is true but frankly not great. Think of it like this: your customers are posting online about shipping, sizing, customer service, what they love about products, and what they wish was different. Like those old-school public service announcements on NBC, it’s really a case of “The More You Know.” More reviews equal more feedback and a better understanding of your product performance from the people buying it and using it. So this begs the question: why wouldn’t you want the full picture? With cleaned and verified reviews aggregated from all your major e-commerce sites, you can see more of what your customers are saying to turn reviews into revenue and get results now and into the future. Here’s a quick breakdown of what you can expect:
Short-term Results
Get a handle on inventory and pricing as you head toward the busy holiday season. The Channel Signal platform does all the heavy lifting for you, and it filters and sorts data that you can access directly through the platform or on your Business Intelligence platform. You gain a clean data set every day and create custom dashboards that align with your business goals.
Inventory
- Measure all of the consumer sentiment regarding your product offerings and inventory supply
Price
- Tap into consumer sentiment to gauge the frustration level on a per-product basis
Holiday Shopping
- Transparency is vital—with the full view of your review landscape, tap into what customers are saying about your brand in near real-time and communicate with customers accordingly.
Long-term Results
Easily access data for each of your products – and track it over time – discover and compare your top/bottom performing products and everything in between, and empower your teams, from marketing to the C-Suite, with actionable data that drives results.
Marketing
- Integrate the language of the consumer into marketing messaging
Product Development
- Quickly discover what to leverage and products to fix
Customer Service
- Get ahead of emerging issues
C-Suite
- Measure leading consumer sentiment against trailing transactional data
With economic uncertainty and buying behavior evolving, retailers must get ahead of the curve by monitoring product performance and listening to what buyers are saying. As we move toward the holidays, uncertainty will underscore the season. By anticipating the next bestsellers, managing inventory, and measuring consumer sentiment across the marketplace, you can deliver the goods this holiday season and beyond.
See Channel Signal in action. See it in action.