Administration Updates: Ensuring You Are Getting the Best ROI From Brandwatch
By Nick TaylorOct 15
Learn how L’Oréal improved their market share by equipping themselves
with deep consumer insights from Brandwatch Consumer Research
Published May 28th 2020
Imagine you want to buy a top of the range camera. You’ve just started to get into photography and you’re desperate to upgrade your out-of-date tech.
After spending a few hours one night analyzing the various alternatives, reading professional articles, and watching a few videos, you’ve narrowed down the search to two options.
They both have largely the same spec, pretty much the same features, and they’re available at the same price.
You wonder, for a moment, how you’ll decide between the two. But then you load up Amazon.
One of them is rated at 4.8 stars, the other only has 4.4 stars. Case closed. You’ll obviously buy the one with the better reviews.
This scenario plays out thousands of times a second online.
Customers across the web lean on Amazon reviews to make their final purchase decision.
If you’re selling online, not only is it crucial that you understand how your product is rated, but also that you know how to improve your score and how your rating might change in the future.
For marketers, product designers, and analysts, Product Reviews will provide a number of benefits:
With this unique pool of data you’ll be able to gather more granular information on your customers. Here are five questions you could answer with Reviews.
Create a folder looking at reviews from an adjacent industry. Discover how products overall are reviewed, spot your top competitor, and discover if there’s an opportunity to capture market share.
Collect thousands of reviews from multiple review subdomains online and discover the common complaints. Product designers can, for the first time, aggregate all negative reviews and quickly rank what product improvements are a priority.
Here we can see reviews are on the whole positive, yet the one negative theme shared by almost all reviewers is the high price.
Filter through all your reviews to find the features your users want. Here we’ve applied a filter to our reviews to only show reviews containing the phrase “I wish”. It reveals some of the features customers want.
It’s one more way to use Brandwatch Reviews to help inform product development.
Monitor reviews over time to gauge trends and better predict future reviews. Here we can see positive reviews have started to drop off, but the volume of one or two star reviews is still consistent. At this rate, we can predict a significant number of future reviews will be negative.
With historical data, we can measure how price changes affect a brand’s reviews. Looking specifically at Samsung’s Galaxy s10 and using PriceSpy’s data, we know that the price from January 2020 to March 2020 dropped from £580 to £540. During the same period we see a significant increase in positive reviews.