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 to voice their opinion about your brand—be it good or bad. Brands must learn to listen to the voice of the customer. You can do just that with customer sentiment analysis. Customer sentiment analysis is a powerful solution for review analysis and text analysis.
Continue reading to learn more about the growing power of consumers and consumer reviews.
Embracing the Voice of the Customer
Brands must take consumer engagement beyond marketing. You must engage consumers where they spend the most time—online. It’s important to pull your team together in a focused effort to manage consumer engagement across all touchpoints.
It’s also vital to adopt a consumer-centric business model in today’s digitally empowered environment. These tasks can prove challenging. Businesses must invest in developing their engagement capabilities.
Operating in the modern selling environment requires a new approach. Selling things is no longer about “selling.” Compelling consumers to buy your goods is more about providing valuable information.
Savvy brands provide consumers with the right content. This information enables consumers to move through the buying journey independently. You’ll need to figure out what information your audience needs. You can boost your brand image and loyalty by becoming a trusted source of information.
Here’s where you want to invest in technology. Technology will give you the analytic capabilities to track mentions about your brand. You can do so across all digital channels and touchpoints.
The Power of Consumer Reviews
There’s a growing gap between what consumers want and what brands deliver. Also, many brands struggle to deliver on their promises effectively.
Technology empowers consumers. Your audience can easily research products and goods online. If your brand can’t meet consumer needs, they’ll find one that will. Here is where the gap between consumers’ needs and brands’ capabilities develops. It’s getting harder for firms to keep up with consumer demands.
Modern enterprises must develop ways to integrate and track the journeys of this massive audience. Consumers can generate brand mentions using social media and other digital channels at any time. At the same time, companies must boost revenue and profit. They must also continue to provide customer satisfaction. The answer to meeting these myriad demands is knowledge.
Technology has shifted power to consumers. The information available to them has expanded massively. Consumers no longer have to settle for what’s available in a limited sphere of influence. Consumers leverage technology to connect with peers around the world. They also use it to share information.
Most consumers browse review sites and check service and product ratings. About a third of those individuals write reviews and leave comments about brands on blogs.
10% of the online audience creates original content concerning brand services and products. These are the digital voices that today’s consumers trust for buying recommendations.
Source: Spiegel Research Center
Warming up to Customer Sentiment Analysis
Trust has always remained important between buyers and sellers. Brands can use social engagement to improve trust. You can also leverage social engagement to make a negative experience positive.
You must engage with consumers closely to boost trust. Your brand must encourage dialogue openly. Encouraging dialogue begins with acknowledging suggestions and online consumer sentiment.
Technology has disrupted the buying journey. Brands must learn to engage with individuals and communities simultaneously.
Many large businesses have been slow to respond to this demand. Most who are responding are trailing behind the top brands blazing a path in the digital domain.
Contemporary brands must become innovators to compete in today’s intense marketplace. Innovators are doing more than poking around on social media to manually ascertain what people think about their brand. They’re leveraging data to inform their strategy accordingly.
These pioneers are using technology to listen to their consumers across millions of touchpoints. They’re using those tools to inspire their audience to support their brand. They’re also building on the feedback of engagement to build consumer and online community partnerships that promote brand loyalty.
Understanding Customer Sentiment With Reviews Analysis
Businesses have always succeeded by giving potential customers what they want. Voice of the customer (VoC) technology is the only way to measure consumer sentiment effectively in today’s massive digital environment. It enables brands to understand consumer needs and deliver solutions accordingly.
There’s no shortage of brand comments, feedback and reviews. The voice of the customer has never been louder. People use the internet every day. They share their thoughts on services and products in many instances. There’s an ocean of brand mentions in the digital domain. This wealth of information can result in information overload.
VoC technology such as Wonderflow enables brands to gain an in-depth overview of what buyers are saying. Brands are also using our technology to learn how they can improve. 2020 served as a pivotal year in the digital domain. It accelerated the digitization process of many brands.
More companies are incorporating mobile-first surveys and text analysis into their audience research initiatives. A growing number of brands have also started to embrace data analysis techniques.
Leverage Text Analysis for Improved Engagement
Online reviews have forever transformed the way that consumers buy goods and services. Reviews are one of the richest and most relevant sources for text analysis. Nearly all consumers read online reviews before making a buying decision.
Positive reviews can help you to generate revenue. It might surprise you just how much positive reviews help. Positive reviews can result in a 380% increased likelihood of purchase, according to the Spiegel Research Center. Your brand can also find benefits in negative reviews. Negative reviews can help to establish credibility and authenticity when done correctly.
A perfect collection of five-star reviews seems too good to be true from a consumer perspective. A small percentage of negative reviews can help you to overcome this issue.
It’s also essential to think of your online reputation as a whole. You must also consider how mixed messages provide the most value. Consumers often articulate their opinions clearly online. These mentions are precise but often deceiving.
Natural language is complex. It’s remained in the realm of manual evaluation for this reason. This circumstance is changing quickly—thanks to technology. It can help you to unearth the hidden meanings behind brand mentions.
Make Consumer Review Sites Work for Your Brand
Modern business moves fast. Brands need to stay informed about the sentiment of their audience. It’s vital to leverage technology to collect and analyze mentions about your brand. You also need a solution that allows you to monitor a multitude of digital channels.
Brands also need technology that enables them to leverage customer feedback for decision-making. These practices can help you to increase customer loyalty drastically. It’s always a good practice to welcome feedback about your brand. It’s equally as important to use that information to improve your processes.
You can analyze information gathered from a multitude of touchpoints in real-time with a solution such as Wonderflow. It will enable you to use that information to take real-world actions.
It’s vital to make it easy for customers to provide and share feedback. You can collect as much raw data as possible by doing so. This information may come from call center logs, emails, surveys, or other existing customer feedback sources.
You want to find the insights in your data at this stage. You can use this information to make changes to improve your service or product. It’s also important to prioritize these improvements. You can improve all facets of your operation with a customer feedback analysis solution. You can also reduce churn and increase revenue.
Wonderflow is your solution for AI-powered business intelligence. Our technology empowers you to analyze customer feedback that you’ve gathered across a multitude of channels.
Partner With the Leader in Customer Feedback Analysis
Now you know more about the growing power of consumers and consumer reviews. You’ve also learned how to listen to the voice of the customer. Luckily, you’ve come to the right place to act on what you’ve learned.
Wonderflow can provide you with actionable intelligence. We’ve empowered enterprises with our robust customer feedback analysis solution for more than eight years.
Our technology enables you to extract actionable insights from unstructured consumer content. It’s a complete solution for consumer reviews analysis.
Wonderflow is a powerful combination of artificial intelligence and natural language processing. These technologies will empower you to conduct both review analysis and text analysis, and you can do so among a massive number of sources with remarkable accuracy and consistency.