Bazaarvoice

Name of the product or service

Premium Network Insights

Votes: 126

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Product or service description

Shoppers expect brands to provide them with the information they need to make purchase decisions, wherever they shop and with an unlimited shelf online, brands need to stand out. However, It’s a massive undertaking for brands to assess how they’re performing at retail, requiring manual data scraping, hiring third parties, using legacy tools which don’t provide real-time analysis, or relying on individual retailers to provide this data. Our Premium Network Insights solutions provide unmatched sentiment analysis, user-generated content performance tracking, and competitor insights all rolled into one, holistic dashboard. With more data that is quickly accessible and updated daily, brands can easily gauge how they compare to their competition, to further help them differentiate and stand out from the crowd. Brands can also easily improve products and messaging, prioritize resources, and feel confident adopting strategies that make the biggest impact on their bottom line.

Distinction from the competition

Usually, measuring a brand’s performance at retail requires a ton of effort and time. It often requires manual data scraping, hiring third parties, using legacy tools which don’t provide real-time analysis, or relying on individual retailers to provide this data. We know that our clients’ time is valuable, and we want to make sure we’re helping them save it. Premium Network Insights provides daily updates automatically, so brands truly understand how they are performing in the Bazaarvoice Network.The data is here for them to make strategic decisions that will help their brand win.

Premium Network Insights gives brands the insights they need to compete on an infinite digital shelf. Brands can use sentiment and competitor insights to optimize marketing messaging, SEO campaigns, and ultimately give shoppers the confidence they need to make purchase decisions. And when customers are happy, brands win. By understanding what customers truly like and dislike, brands can make decisions with confidence and build better products to improve customer satisfaction

Product or service innovations

This year, along with releasing our Premium Network Insights products, we also acquired Curalate this past July, a software company that provides shoppable social, user-generated content, and influencer marketing solutions. Curalate’s technologies turn images into digital storefronts that give consumers compelling shopping experiences online.

Together, we have created a powerful offering to lead the growing visual commerce trend, where consumers increasingly buy based on user-generated visual content. Bazaarvoice can now offer brands the ability to leverage inspirational social content to drive sales on social, on websites, and throughout the Bazaarvoice Network of 11,500+ brands, of which 1,750 are retailers.

Customer case study

To maximize the value of reviews throughout the organization, Nestlé Canada increasingly relies on insights from reviews to inform product development. In addition to using focus groups, Nestlé leverages Bazaarvoice’s insights solutions to make sense of data from the thousands of reviews it continuously receives. This allows the company to make faster decisions based on feedback directly from customers.

A few years ago, Nestlé made some changes to one of their customers’ favorite iced tea products. It tweaked the ingredients of the formula, and within a month of it hitting shelves, Nestlé saw a slew of negative customer complaints and reviews — then sales dropped.

Nestlé’s CX team shared these reviews and sales numbers with the brand team, and within several months, Nestlé reverted back to the original iced tea formula. The average customer rating increased from 1.7 to 4 stars.

“There was so much quality information provided by the consumer that it added a lot of power to the decision making around reversing the formula,” said Lee Beech, the Director of Consumer Experience at Nestlé Canada.

Bazaarvoice’s insights and reporting features also help Nestlé operationalize the reviews data it captures and share with other teams. By providing this data alongside reports from the customer service team, the CX team can present Nestlé Canada executives with a more complete picture of what customers are thinking.

“The review data mirrors some of the things that we’re seeing in the consumer service data, but it also allows us to see other themes that we may not detect through some of the phone conversations with consumers,” said Kristina Rapljenovic, Website Manager at Nestlé Canada.

Positive feedback & testimonials

We’ve heard great feedback from clients who were the first to beta test our Premium Network Insights products. They said the tools help them save time and help them gauge how they are doing compared to their competitors.

“Network Insights allows us to take a step back and look at where we fit into the bigger picture,” said a spokesperson from Meyer. “We are a relatively small digital and e-commerce team, so this tool really helps us prioritise how and where we need to focus our time and efforts to ensure we are not just keeping up with industry benchmarks but surpassing them.”

“Bazaarvoice Network Insights is a great way to easily see how our brands compare by product category and retailers against our peers,” said Kirsten Salmanowicz, Digital Marketing Platform Manager at Land O’ Lakes Inc. “It’s a new opportunity for us to easily track syndication scale, review key Voice of Customer (VOC) metrics and create action plans to drive engagement where necessary. These insights are key data points across the organization from marketing, customer affairs, sales and IT to drive action.”

Website

https://www.bazaarvoice.com/


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