Research shows product reviews are directly connected to buyer’s behavior and continue to be one of the top most trusted forms of advertisements.
The number of online consumers who read and trust online reviews is increasing. According to a survey by BrightLocal, 88 percent of consumers trust online reviews as much as a personal recommendation.
The same survey found that only 12 percent of the population did not regularly read reviews for consumer products.
Further, Nielsen reports product reviews are the second most trusted information resource.
Yet, countless Consumer Insight professionals find themselves swimming in an ocean of data. If they want to uncover insights from product reviews, they’re forced to manually populate excel sheets and create charts. The task has become too labor intensive.
About a year ago, a former client in the role of a Consumer Insight Associate emailed me and said, “I have to pull together a report every quarter on consumer ratings for Walmart & Amazon for the business and our competitors. Is there a way to automate this reporting somehow? Currently, I manually go into Walmart.com and Amazon.com and manually plug in the numbers into an excel sheet.”
Our team was eager to help lift her work load. In this case, we saw an opportunity to solve a problem that potentially strikes the desk of most in market research.
Our Big A-HA: The birth of our first Temmpo E-Commerce Pulse Report was in direct response to that email.
Since the innovation, we’ve learned two things about e-commerce reporting and analytics:
- Some companies, including Fortune 500, have abandoned this type of reporting on a regular basis as it was too labor intensive to compile.
- Others leverage e-commerce analytics in their market research efforts and recognize its value.
Temmpo Pulse Reports review text free-form, voice-of-the-customer reactions. This text has emotional attachment, and the polarizing sentiment tells a story. It’s uncovering the aspects of a product or service discussed, the wording used to describe them, and the sentiment expressed.
Customer reviews contain several forms of prominent information. First there’s the star rating, but ratings, even when broken out into categories can be diluted. On Trip Advisor, for example, categories include location, cleanliness, location, service and value — can have difficult evaluative power.
Our proprietary algorithms and lexicon thoroughly identify attribute specific descriptors, so you can focus in on the key things that are really impacting brand performance. This feature shows you which brand attributes resonate most with your consumer and also, what the level of positivity or negativity is for each attribute.
If you’re aligned with anticipating competitive advantages by leveraging your brand’s product reviews – let us know, we’re here to make your work-load a little lighter.