Category: Market Research
Showing all the 38 posts with the category Market Research
Market Research · Oct 12, 2022
VoC Analysis: What Are Consumers Really Saying About Tires?
Wonderflow’s Business Intelligence team conducted an original market analysis of the tire industry, including a cross-country comparison. Using our very own advanced natural language processing technology, we’ve uncovered several key trends and insights that tire brands, manufacturers, and marketers can leverage to create effective strategies and improve the consumer experience. In the world’s most advanced countries, on average, 65% of the population owns a car. Vehicle owners living in the U.S. reach 87%. Most…
Cosmetic & Beauty · May 25, 2022
VoC Analysis: Top 3 Hair Care Trends Based on Personal Care Ratings & Reviews
As part of our original series of market research, or what we like to call Voice of the Customer (VoC) analysis, it contains monthly articles written exclusively by our Business Intelligence team who leveraged the Wonderboard analytics to support the research. This article is written by our Market Analyst, Liang Liu, to help more beauty/personal care brands better understand emerging industry trends and new consumer behaviors — all based on ratings and reviews. Although…
Market Research · Mar 31, 2022
VoC Analysis: What do customers think on skincare product packaging? (5 countries analyzed)
Our Business Intelligence team is dedicated to bringing readers unique and relevant consumer insights using our very own advanced customer feedback analysis technology. Therefore, through a monthly new series of Voice of the Customer (VoC) analyses, Wonderflow’s analysts share original market research articles on relevant and critical trends across major industries and categories, all based on real consumer reviews. Consequently, more relevant managers can consider our insights to make better, well-informed decisions. This new…
Market Research · Jan 13, 2022
Beauty brands, do customers care for ‘natural’ based on skincare reviews?
Using our text analytics technology, our Business Intelligence team analyzed dozens of cosmetic brands and compared them among one another, particularly studying the hot topic of ‘naturality’ and whether being healthy matters among today’s consumers. In the end, the results may surprise beauty brands while providing useful insights on how to better their skincare products. This article was also written specifically by Liang Liu, our Market Intelligence Analyst. Obtaining a “healthy lifestyle” has been…
Business · Aug 31, 2021
Guest Blog: Advances In AI Will Transform Sentiment Analysis
HIPSTO has developed a premier AI open knowledge discovery platform. As one of our technology partners, their advanced natural language understanding technology works within Wonderflow’s advanced voice of the customer analytics platform to provide users with the most reliable and accurate results. In their guest blog post, HIPSTO helps CX professionals to gain a clearer understanding of what sentiment analysis is, including key challenges in this exciting and emerging research field and how certain solutions…
Business · Apr 14, 2021
Sentiment Analysis is Killing the Focus Groups: The Disruption of Market Research
The rise of new technologies is changing the way we do market research. Old methods such as focus groups are about to fade away, paving the way for faster, cheaper and more accurate research tools. Let’s see what’s going on. The time has come for focus groups “Video Killed the Radio Star” was declared during the 80s. Now television is about to be killed by Twitch and YouTube while the development of game-changing technologies happens…
Customer experience · Apr 07, 2021
How to Measure Value for Customers using innovative Wonderflow tools
Wonderflow participated in the prestigious Forrester Report focused on the best tools for CX Managers to really catch the voice of the customer and measure customer satisfaction. But what is the value for customers and why it is so elusive? What are the best strategies to analyze it and why Wonderflow happens to be so good at it? Let’s see it together. The Value for Customers is as mysterious as love Some people…
Business · Mar 31, 2021
Oral Care VoC Report: What’s Best for Electric Toothbrushes
By 2027, Fortune Business Insights projects that the oral care market will reach $38.9 billion. This rapidly expanding market share is drawing more industry leaders into the field of oral care. What are the reasons behind this huge expansion? Some researchers point to the rising rates of dental disease. Poor diet and a growing reliance on fast food might be partly to blame. Technological developments in oral care might also be contributing to their popularity….
Business · Mar 25, 2021
How Consumer Reviews Influence Sales
83% of costumers trust peer buying recommendations and consumer reviews over brand advertising. Consumers have always had the power to support—or not support—brands with their wallets. The digital domain has ushered in an era where bad customer experiences can ruin your brand image faster than ever before. Today’s consumers are empowered by far-reaching social networks. Your potential customers are creators—and critics—thanks to social media. Consumers have a powerful voice. They’ll take to the digital domain…
Market Research · Mar 17, 2021
Upgrading Reviews Analysis: The Most Efficient way to Measure Customer Sentiment
Listening to the Voice of the Customer (VoC) Giving people what they want has always been the ultimate goal of a business, since the beginning of the modern era. In order to do so, many resources have been deployed to catch the voice of the customer, understanding their needs and tailoring the offer accordingly. However, the voice of the customer has never been so loud before. Since the digital revolution, there is no shortage of…
Business · Jul 03, 2019
How Consumer Insights Teams Can Leverage Text Mining Techniques
Text mining sounds like a fancy term, but the concept behind it is pretty simple. In a nutshell, this involves using machine learning technology to extract valuable information from text-based data (product reviews, emails, call center data, and more). The strategy of text mining is used widely by consumer insight teams, and it can help product marketers and researchers understand their customers’ pain points, how customers use certain products, and more. Want to learn more…
Market Research · Jun 26, 2019
How To Measure Customer Satisfaction
A decade or two ago, customer satisfaction was seen as a nice-to-have, not as a must-have. These days, however, companies are increasingly understanding the importance of building a customer-centric culture, and putting their customers at the heart of everything they do. Why is this the case? Simply put, when you delight your customers,…
Business · Jun 19, 2019
The metrics for customer-centric management
Today we will explain which are the key metrics that you need to adopt if you really want to become customer-centric. In the very first video on our channel, we explained: how both product and customer-centric companies have the goal to maximize shareholders value, but they try to get there in different ways. We know that customer-centric companies build their success on relationship expertise. In this case, managers main goal shouldn’t be just revenue, but…
Case studies · Jun 19, 2019
How do you create customer profiles starting from feedback
Today we will explain how to create customer profiles starting from their feedback. One of the most difficult challenges for marketers is to clearly define the customer persona, highlighting all the characteristics of the ideal types of customers. Historically, marketers have learned that first, they needed to create a profile and then go to the market to test it. Today, customer feedback gives us the possibility to turn this process upside down. In fact, we…
Market Research · Jun 19, 2019
What is the accuracy in text analysis
Probably, the most frequent question about text analysis is “what is the accuracy?”. So, today we will tell you what to measure in order to determine the quality of your analysis. Let’s start by saying that what we usually call accuracy in text analysis, is the mix of two main indicators, called precision and recall. Recall In simple words, the recall in text analysis measures how many times the system is able to identify a…
Business · May 20, 2019
Come la sentiment analysis può aiutarti a migliorare i tuoi prodotti
Probabilmente avrai già sentito parlare di sentiment analysis, ma sei a conoscenza dei vantaggi che questo tipo di analisi può portare all’interno della tua azienda? La sentiment analysis, anche conosciuta come opinion mining, consiste nell’analisi di un testo con il fine di analizzare e classificare le informazioni contenute nello stesso. Questo tipo di analisi può rivelarti moltissime informazioni sui pensieri e sulle opinioni dei tuoi clienti. Una volta spiegati i vantaggi della sentiment analysis, mostreremo…
Market Research · May 20, 2019
5 tipi di customer feedback e come raccoglierli
Non importa cosa pensi del customer feedback, non si può negare che abbia una grande importanza per le aziende. In un mondo in cui la competizione è altissima, conoscere le opinioni dei tuoi clienti riguardo i tuoi servizi può aiutare molti aspetti della tua azienda, dal product development alle strategie di marketing. In un periodo in cui la quantità di dati è infinita, analizzare le opinioni dei clienti mette a disposizione informazioni che la tua…
Business · May 16, 2019
Do Customers review and recommend your products?
You know we are big fans of consumer reviews for several reasons, and we often use them as the playground for the exercises that we run. Today we keep going on this track. Today we run a quick exercise that can have a terrific impact on the effectiveness of your marketing strategy. Today we want to figure out if consumers review and recommend your products or not. Let’s get started, follow these steps: Step 1:…
Business · May 13, 2019
React on Reviews – Quick wins with customer feedback
For the first episode of the series Quick wins with customer feedback, our CEO Riccardo Osti proposes a simple exercise that might be incredibly helpful for you to start making actions from online reviews. We expect you to perform a simple analysis of your customer feedback in one of your sources, such as Amazon, Bol, or even Trip Advisor. Take some time and see that this simple exercise will provide you important insights on how…
Business · May 02, 2019
The most important sources of customer feedback – part 2
The world has changed, and everybody knows it. However, Market Research is still made in the same way we used to do 60 years ago. Does that actually make sense? If you are watching this video, you’ve probably watched the first part, which you can find here. Now, we continue explaining some other important sources of customer feedback for 2019: Facebook and YouTube. Hello everyone, I am Riccardo Osti and on a daily basis I…
Business · Apr 29, 2019
The most important sources of customer feedback (PART 1)
The world has changed, and everybody knows it. However, Market Research is still made in the same way we used to do 60 years ago. You can learn more about it in this video, where we explain why traditional market research, alone, is not enough anymore. In our current reality, customers can deliver customer feedback in a more accurate way, spontaneously. Actually, they do it every day. Curious to know how? So please, enjoy the…
Business · Mar 21, 2019
Who will benefit from consumer feedback analysis
Consumer Feedback Analysis can play an important role in a company, allowing different departments to get valuable insights. A few weeks ago we published this video to show how important it is for Product Marketers. But they are not the only ones. In today’s video our CEO Riccardo Osti will tell you how different departments can take advantage of Consumer Feedback to improve their performance. How do you feel Consumer Feedback could improve your job?…
Business · Mar 18, 2019
5 reasons why reviews are essential for e-commerce
A few weeks ago, our CEO Riccardo Osti made a video about the importance of reviews for traditional retail. Today, he’ll explain the importance of reviews also for e-commerce businesses. They are not only extremely valuable for the products, but for the online stores themselves. As you’ll see, this happens for several reasons: They create trust, They are freely generated, They represent a great point of interaction, They help SEO and finally, They help to…
Business · Mar 14, 2019
Why traditional market research alone is not enough
Market Research started to be put in practice in 1930, in United States. Back in those days, advertisers started to realize the significance of demographics for creating successful campaigns. Of course the resources were limited, so the solution they could implement was, for example, organizing focus groups, running face to face interviews, or sending questionnaires. Nowadays, companies keep conducting Market Research the same way they did decades ago. Even though technology has made huge improvements…
Market Research · Mar 06, 2019
What are Predictive Analytics & How Can They Provide a Competitive Advantage?
Big data is not a new thing, but many business leaders are at a loss with how to manage their knowledge assets to their full advantage. Long gone are the days where companies could simply look at consumer research and make an intuitive guess for the best move forward. Today, with AI, machine learning,…
Business · Mar 04, 2019
How to improve CX with Customer Feedback Management
Love it or hate it, customer feedback is essential for any business. It’s one of the best ways companies can improve their products and services which, in turn, will boost the success of their business. But not only that, feedback improves the Customer experience (CX) as well. And by using Customer Feedback Management (CFM), you can make sure all of that important feedback is used to make changes that matter. Source To show you how you can use…
Market Research · Mar 01, 2019
Why you should analyse the NPS data
NPS is considered one of the best ways to measure customer loyalty for a company’s brand, products or services. Every once in a while, companies receive tons of data related to it, but the difficulty to analyse it all makes them to not make the best use of it. In this video, our CEO Riccardo Osti explains why this data should be analysed. He covers the importance of each section of this type of survey…
Business · Feb 22, 2019
Manage Customer Feedback Correctly
Many companies claim to be customer-centric. However, just a few are really able to achieve it. In some of our previous videos, we’ve explained how to switch your company from product-centric to customer-centric and why consumer feedback is so important for your business. This week, our CEO Riccardo Osti is advising you ask yourself 3 Questions to understand if you are managing customer feedback correctly. Asking these questions may show you if you are extracting…
Market Research · Feb 20, 2019
What is customer feedback and why it is important?
The Voice of the Customer is playing a relevant role in today’s competitive markets. In fact, is common for customers to voluntarily review products and experiences. This source of information is rich in insights but comes if different forms, and it’s often unstructured. This makes it difficult to interpret on scale. In this video our CEO explains the difference between the most common types of Customer Feedback, and I share the 5 reasons why it…
Market Research · Feb 19, 2019
Why is so difficult to predict the future?
Predict the future, in many different fields, might be a hard task. If you play with stocks, for example, you might have realized that. Even though economists give you recommendations about best companies to invest, a single video that turns viral from a customer complaining about an experience might affect predictions, lowering prices of these stocks. In the Customer Feedback Management field, the same thing happens. Even though we might have some control over the…
Business · Feb 05, 2019
Stop asking questions to your customers
It is a common practice for companies to ask questions to customers via surveys and questionnaires. But usually, brands want answers to questions that are not interesting from a customer perspective. In today’s video, we will discuss what is the proper way to get the most meaningful insights from customers. It is a common practice for companies to send out surveys and questionnaires to their clients. You can think of the ones that you…
Market Research · Jan 31, 2019
How good are humans in text analysis?
Accuracy is a measure of the capability of technology to interpret a text correctly. Some companies claim the accuracy of their technology is 99%, is that even possible? In today’s video, we are going to refute some myths about text analysis, and we are going to discover the best way to achieve a high level of accuracy. Today’s video is very different from the other ones because for the first time I talk about Data…
Market Research · Jan 21, 2019
5 Types of Customer Feedback and How to Collect Them
No matter how you feel about customer feedback, there’s no denying the value it can bring to your business. In a world where competition is high, knowing your customers’ thoughts on your service can aid all aspects of your company, from product development to marketing strategies. However, simply knowing what your customers are saying isn’t enough to grow your business. In an age where there is an abundance of data, using a data-driven analysis of customer…
Business · Dec 05, 2018
The Best Survey Method: 11 Experts Weigh In
What’s the best survey method? Is there a top choice when it comes to collecting valuable feedback from your customers? As a platform that helps many enterprise companies make sense of feedback and reviews, we were curious to find out if there really is a specific method that brands find most effective. That’s why we reached out to a group of marketing and customer experience professionals with one simple question: “What is your top survey…
Business · Nov 14, 2018
10 Sentiment Analysis Examples That Will Help Improve Your Products
You’ve probably heard the term sentiment analysis before, but perhaps never really took much notice of how important it can be for your company. But you should. The term refers to mining the opinions of your customers. If done properly, sentiment analysis can reveal gold mines inside the thoughts and opinions of your customers. There are dozens of different ways you can mine customer opinions. Once we’ve explained the perks of sentiment analysis, we’ll show…
Business · Nov 13, 2018
Text analysis and modern market research methodology
Our methodology Since day one we specialised in making complex text analysis simple and accessible by everyone. We strongly believe that learnings from consumer data should be on everyone’s desk, and not filtered by technical people. As a consequence, we developed technologies and processes that make the life of corporates much easier than before. In the last years, we already transformed 20 of the Fortune1000 become consumer-centric and adopt a modern market research methodology. What…
Business · Oct 30, 2018
50+ Focus Group Questions to Ask for Valuable Customer Feedback
A focus group can be extremely helpful to get into the mindset of your customers and receive genuine, helpful feedback for your company. Using a focus group over other methods of customer feedback will allow you to have a full, multi-participant discussion about your product – versus stagnant answers on a computer screen. It will also allow you to interact with your customers and drive the conversation towards your specific, desired outcome. Like reviews, focus…
Cosmetic & Beauty · May 29, 2023
Skin Cancer Awareness Month: Top 5 Sunscreens Based On Customer Feedback Analytics
May is Skin Cancer Awareness Month, highlighting the importance of sun protection in combating the most common type of cancer worldwide. With millions of cases reported annually, research from reputable sources reveals that approximately one in five Americans will develop skin cancer in their lifetime. According to another study, sunscreens having SPF 15 or above with broad-spectrum coverage can reduce the risk of developing skin cancers. At Wonderflow, we have identified top-rated sunscreens that effectively reduce…
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