The Importance of Review And Rating Analysis For Brands

Channelling Customer Sentiments are key to unlocking the potential of the brand. The race to gain customer attention is heating up. Making your product more discoverable across the eCommerce platform is key to staying ahead of your competition.

So, what does your product need to stand out and become the top pick of shoppers?

Word of mouth is what propels the product even on eCommerce platforms. This word of mouth in the digital landscape is customer feedback product reviews and ratings. This is the most organic way to boost your product’s discoverability on eCommerce platforms.

But this is not as straightforward as it seems. Brands need to keep track of customer sentiment by analyzing ratings and reviews to climb up the eCommerce discoverability ladder. Let’s begin by understanding why reviews and rating hold so much value and what are the perks of analyzing customer sentiments.

Know What Shoppers Think About Your Product

The digital commerce landscape is evolving each and every day with new features like image search, live commerce, a dedicated section for premium brands, and augmented reality (AR) based virtual try-on or view-in-my-room features for product categories such as lifestyle, beauty, and furniture.

The motto is optimizing the customer experience. Brands need to be on their toes to optimize customer experience and ensure a seamless customer journey. For that to happen brands need to track customer behavior, listen to what shoppers have to say about their purchase experience and respond to customer feedback.

According to a research survey, about 91% of online shoppers read reviews before making a buying decision. Online shoppers want to know the pros and cons of a product before deciding to buy.

What Is Review Analysis?

Rating & Review analysis is a breakdown of product performance & services, on eCommerce platforms. Positive feedback builds brand reputation and boosts organic discoverability on the eCommerce platform while negative feedback help identify areas brands need to work on. It is the key to understanding customer sentiments.

• Allows brands to keep track of brand perception, customer satisfaction, product performance, market trends, and more. The sentiment mining and analysis process provides in-depth insights about products or businesses across the digital landscape.
• The process of sentiment analysis is not just limited to brand sentiment in eCommerce platforms but can be extended to the social media platform, social, and Live commerce mediums.
• Help identify what brands need to improve customer experience and highlight what’s working and what’s not working for the products.
• Objectively break down sentiments to identify themes and keywords providing a measurable comprehensive sentiment score. This help understands customer wants and needs.

Benefits of Rating & Review Analysis

Here are some perks of rating & review analysis:

• Improve customer experience: Analysing Reviews about your product and services help brands identify the areas where they need to work on and engage in conversation with customers, which make them feel their opinion hold value. This leads to customer satisfaction and retention and helps connect with the customer and improves the purchase experience.
• Data-driven decisions based on real-time insights: The real-time insights about product performance help find the trends shaping up and identify customer needs and wants. The insights lead to a data-driven decision that helps optimize product performance and the customer journey across the digital ecosystem.
• Build brand loyalty and enhance brand reputation: Insight via analysis of customer feedback helps retain customers and attract new ones. The information could be used to develop loyalty programs to boost brand loyalty. Alerts and notifications about changes in brand sentiments, mentions, negative comments, low ratings, etc. help brands to quickly respond and take action to preserve and manage brand reputation.
• Make the content more engaging and effective: The conversation in Q&A and responses in the review can help the brand identify what is missing or left unanswered in its content description.
• Track sentiment vis-à-vis competitors: Tracking feedback vs competitors provide insights into overall sentiments across product categories and market segments. This help identifies how your product is performing vs competitor on the eCommerce platform.
• Boost Share of Shelf: The analysis help identify the keywords used in the reviews and track product performance. The reviews are the most organic way to boost product discoverability as a greater number of positive reviews leads to higher discoverability of products in organic search results on eCommerce platforms. The reviews and Q&A give an SEO boost to the product display page.

Final Thoughts

The analysis of customer feedback helps bands make data-driven decisions and optimize the customer journey. The sentiment expressed by the customers when analyzed provides insights into customer behavior, needs, and wants which help brands formulate data-driven strategies. The rating & review analysis process provides actionable data that highlights performance versus competition tracking ratings & reviews, measuring sentiment intensity, and identifying sentiment themes, and keyword performance across digital commerce platforms.

Brands need to plug in a comprehensive digital commerce intelligence solution to stay ahead of the competition. The prompt response to customer sentiment makes customers feel worthy and valued. Remember it takes time to build a reputation, don’t let a few negative reviews tarnish the image of the brand as it can even lead to a massive customer drop-off.

Author Bio:

Anukriti Jain Manager eCommerce at mFilterIt. Accomplished Customer Success professional specializing in developing eCommerce analytics to help clients in devising effective strategies. Passionate about driving new opportunities by combining strategy and creativity.