Product reviews are considered the richest source of information you can rely on when you want to do anything online.
According to research, 95% of customers tend to read reviews online before purchasing any product. Many people strongly believe that reviews have nuggets that offer guidance whenever you intend to purchase any product on any online platform.
Reviews contain important information that help make prudent purchasing decisions to avoid regrets in the future. Reviews tend to showcase both the negative and positive parts of your products. When you want to analyze customer data, you cannot miss shedding light on customer reviews that are outlined across different platforms.
Reviews offer a crucial benchmark enabling you to compare whatever you are offering against your competitors. They also enable you to identify your areas of weakness and strength, giving you a better chance to capitalize on the available opportunities within the business industry.
But have you ever thought about how to analyze customer and product reviews effectively?
This is the point where many people tend to fail even though reviews play a crucial role in the growth and development of any business brand across the industries. In most cases, customer reviews are categorized as human experience described in a qualitative manner. When you think of analyzing unstructured customer data, it feels awkward since it is time-consuming and needs some sense of being keen on details.
In most cases, the business operating manager only considers the star ratings rather than reading what customers have written. Remember that the ratings are classified as quantitative data and are easy to read and analyze without wasting time. When you take some time to read through customer comments, you will realize that there is both positive and negative feedback.
The reality is that you need to go a bit deeper to get a clear picture of the reality of what customers say about your brand.
However, time is always limited, and you may not have the time to read every customer comment.
This is where review analysis comes into the game.
What is Review Analysis?
This is the process of transforming unstructured customer reviews into a structured data format that can be used to offer guidance to other customers when conducting product research online. When doing review analysis, you need to focus on the product feature analysis and scan all the available sentiments to ensure that readers have a clear glimpse of your products.
Shed some light on ratings given by customers to evaluate the services being offered by the customer support system. Remember that you may be having classy products, but the services offered by your team members affect the rate at which customers consume the products. You can also streamline the product development process to ensure that all the customer needs are covered.
Analyzing Customer and Product Reviews
Even though review analysis is important for the general growth of your business, many people do not understand how to do it.
Let’s answer the most difficult question!
Identify a Good Review Analysis Provider and Integrate Your Customer Reviews
To make it easier to analyze your reviews, you need to find a good feedback analytics platform that utilizes thematic analyses paired with sentiment analysis to make your work easier. Depending on your needs, you can either work from a given platform or use a particular tool such as ChartExpo since it works with any type of data regardless of its nature.
Remember that the key thing is to ensure that the tool you use can easily integrate with the kind of data you are using. This will give you a competitive advantage since analyzing the reviews takes the shortest time possible, and the final output is compelling and easy to read.
Analyze the Results for Top Features, Bugs, and Requests
After integrating your reviews on the platform, you need to take some of your time to analyze findings from the data to ensure that all the customer concerns have been addressed to the latter. Note that there are some customer comments that you need to reply to, while there are others that need further interpretation and practice to ensure that all the customers are satisfied.
The good thing is that the feedback analytics tool sorts out the customer reviews into different categories, such as positive and negative. In addition, the tool pulls out some common themes from the data that need to be addressed within the shortest time possible. This means you won’t need to go through a lot of work analyzing the data in a manual format since you already have all the complex work.
Some tools have the power to group the data themes into trends that can easily be handled by the business to ensure that all the business operations are perfectly streamlined and customers are satisfied with the services offered.
Identify the Key Issues and Share them with Business Stakeholders
Suppose you have an awesome data visualization tool. In that case, you will realize that it only takes a few clicks, and you have all your data presented in an orderly manner that is easy to process and generate insights.
Once you have the insights at your disposal, you need to share them with the business stakeholders and your team members to ensure that everybody understands the position occupied by your business brand.
You need to acquire a good data visualization method that can be easily used to share crucial information among all the team members without wasting much of your time interpreting data. Some tools can be the best option since the data displayed does not need to be interpreted for the viewers to understand the concept displayed.
After going through all these processes, you will have your customer reviews analyzed and vital data elements at your disposal that you can use to propel business growth.
Researchers have revealed that 72% of customers cannot purchase anything before they read the customer reviews. You will only have the reviews clearly outlined if you properly understand how to do the customer review analysis.
Even though the process may seem challenging at the beginning, adopt a powerful data visualization tool that will enable you to do proper analysis and generate insights that will boost your business growth.