{"id":25616,"date":"2024-04-25T07:03:07","date_gmt":"2024-04-25T07:03:07","guid":{"rendered":"https:\/\/www.revuze.it\/blog\/?p=25616"},"modified":"2024-04-25T10:14:15","modified_gmt":"2024-04-25T10:14:15","slug":"5-ways-see-how-brand-measures-up","status":"publish","type":"post","link":"https:\/\/www.revuze.it\/blog\/5-ways-see-how-brand-measures-up\/","title":{"rendered":"5 Ways to See How Your Brand Measures Up"},"content":{"rendered":"

Whether you\u2019re a marketing professional or in innovation, understanding your brand\u2019s position in the marketplace is imperative. Are you a product leader that has to protect itself from upcoming brands? Or are you the new kid on the block looking to take a piece of the pie away from someone else?\u00a0<\/span><\/p>\n

Online review analytics can provide unparalleled insights into the long-term trends and emerging ones. Revuze\u2019s AI slices and dices the consumer feedback to ensure the highest degree of data accuracy around topics and sentiment analysis. The array of dashboards in Explorer quickly gives you a snapshot of all the category insights that matter to ensure your company attains its business goals.\u00a0<\/span><\/p>\n

1. Your Brand\u2019s Popularity<\/span><\/h2>\n

The magic of online reviews is that the data is priceless. Keep in mind that it\u2019s <\/span>post-purchase data<\/i><\/b> from consumers who are willing to write about their experience with your brand and\/or product. Their viewpoint can make or break your brand, encouraging or discouraging potential customers from completing their purchase.<\/span><\/p>\n

The volume of consumer reviews can help brands understand their position in the marketplace. For instance, the screenshot below shows the share of voice and consumer sentiment for brands in the Tops fashion category. Adidas is leading with over 36,000 reviews and a high consumer sentiment. Here, you can quickly assess who the dominant players are in the category and learn which competitors are investing more in incentivized reviews. Notably, 90% of The North Face\u2019s reviews are incentivized, followed by Nike at 58%.<\/p>\n

\"Brand<\/a><\/p>\n

This data can help get the creative juices flowing. Is your brand in the top eight places when it comes to discussion volume? If not, why isn\u2019t your brand appearing; is it a marketing or product challenge? Should you consider investing in more incentivized reviews? This top level data will help point you in the right direction as you decide where you want to get more granular.<\/span><\/p>\n

2. Brand Discussion Trends<\/span><\/h2>\n

In the previous section we showed how Revuze helps give brands a sense of their overall position in a specific category. However, there are other important metrics that are worth noting as well. One of them is the velocity in which reviews are added during a specific timeframe.\u00a0<\/span><\/p>\n

This overview gives an indication that consumers are buzzing around something regarding a brand. At this point we don\u2019t know if the buzz is good or bad, but rather there is a definite trend that should be explored further. <\/span>In this screenshot, we\u2019re looking at which brands are trending in the hair color category. In this case, almost 1606 additional reviews are discussing the Madison Reed brand, representing an overall increase of 121%. A similar number of reviews are discussing Revlon\u2019s hair color, but it represents a 59% increase. The absolute number and the percentage of are important indicators to evaluate your brand across the category insights.<\/span><\/p>\n

\"Discussion<\/a><\/p>\n

As you assess the numbers, think about the competitors that are worth exploring. Was a new product launched that has consumers talking? Or perhaps, a brand recently changed their product\u2019s formula or ingredients and consumers aren\u2019t happy about it? Did a competitor launch a new marketing campaign? How can you capitalize on your competitor\u2019s dissatisfied customers so your own brand comes out on top? As you grapple with these business questions, you\u2019ll navigate the dashboards to get more granular.\u00a0<\/span><\/p>\n

3. Comparing Consumer Sentiment Overtime<\/span><\/h2>\n

It\u2019s often the case that you want to see your brand positioning against other one or more primary competitors. Revuze\u2019s Comparison dashboard makes it easy for you to see your brand and your competitors’ consumer sentiment has fluctuated over time. The graph below highlights the consumer sentiment of five leading coffee brands in the US over a three year period. We see that Starbucks\u2019 sentiment is on decline when compared to other leading brands. Play with filters to adjust the time frame. If you\u2019re planning a new marketing campaign or product changes, you might consider delving into competitors\u2019 data to see what caused the dips and peaks in consumer sentiment.<\/span><\/p>\n

\"Comparison<\/a><\/p>\n

4. Benchmarking by Source<\/span><\/h2>\n

As you allocate resources to different online retail channels, understand how your brand\u2019s consumer sentiment aligns with primary competitors. Is your brand\u2019s sentiment higher or lower on a specific channel when compared to key rivals? What are some of the factors influencing sentiment on each channel?<\/span><\/p>\n

In this example, we are benchmarking consumer sentiment across the blender industry plus three additional brands. (With Revuze, you can benchmark two-eight brands at once!) We\u2019re able to get very granular to compare consumer sentiment for different e-commerce channels. Here we’re looking at the sentiment of three blender brands on Amazon, Macy\u2019s, Target, and Bed, Bath and Beyond. It quickly captures how the Ninja has\u00a0 positive sentiment, 67%, on Amazon. Vitamix’s sentiment is neutral at 65% but close to the Ninja brand despite the disparity in review volume.\u00a0 Note how Ninja have negative consumer sentiment on a number of channels. <\/span>\"Benchmark<\/a><\/p>\n

Marketers who arm themselves with this data can use it to optimize their different e-commerce channels. This is the time to ask: Why is review sentiment higher on Amazon when compared to the other channels? Start exploring the product description pages on each channel to understand what differences are influencing consumer sentiment.<\/span><\/p>\n

5. Benchmarking by Topic<\/span><\/h2>\n

We covered a couple of aspects of sentiment analysis already. First, we looked at sentiment overtime and we also looked at sentiment by source, or online retail channels. They paint a specific picture of the category landscape for your industry. Another important facet is looking at sentiment for each topic or product attribute.<\/span><\/p>\n

When consumers leave reviews, they don\u2019t necessarily focus on one aspect of a product. In fact, they can discuss a number of topics around a product from quality, ingredients, or price. Revuze\u2019s AI parses out the topics from the consumer reviews and performs a sentiment analysis for each topic. A brand or product can have high sentiment for one topic but low sentiment in another signifying further investigation.<\/span><\/p>\n

In the screenshot below, we\u2019re comparing three leading fragrance brands by topic against the entire industry. <\/span>For instance, Ralph Lauren has high sentiment around \u201cBottle\u201d and \u201cMeets Expectations\u201d but low sentiment for \u201cPromotion\u201d.\u00a0 If you work for Thierry Mugler, you might want to get to work on \u201cBottle Design\u201d\u00a0 and understand if it\u2019s related to a specific fragrance product or all of them. Another way to use the data to understand competitors\u2019 positions. Prada scored\u00a0 86% sentiment for the \u201cSize\u201d topic well above the industry average of 74%.<\/span><\/p>\n

\"Topic<\/a><\/p>\n

Conclusion<\/span><\/h2>\n

For this post, we looked at a cross-section of industries to highlight how Revuze Explorer can be maximized to understand your brand\u2019s position across a category. Whether we\u2019re looking at apparel, appliances, food and beverage, cosmetics, or personal care, it\u2019s easy to understand a competitor\u2019s position. Use the competitive data to your advantage to overtake dominant players and optimize your brand\u2019s own positioning. Whether you\u2019re launching a new product, cooking up a marketing campaign, or optimizing your online retail channels, you can find everything you need in Revuze\u2019s category insights. To learn more about online review data <\/span>click here<\/a>.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Whether you\u2019re a marketing professional or in innovation, understanding your brand\u2019s position in the marketplace is imperative. Are you a product leader that has to protect<\/p>\n","protected":false},"author":42,"featured_media":25621,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/www.revuze.it\/blog\/wp-json\/wp\/v2\/posts\/25616"}],"collection":[{"href":"https:\/\/www.revuze.it\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.revuze.it\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.revuze.it\/blog\/wp-json\/wp\/v2\/users\/42"}],"replies":[{"embeddable":true,"href":"https:\/\/www.revuze.it\/blog\/wp-json\/wp\/v2\/comments?post=25616"}],"version-history":[{"count":23,"href":"https:\/\/www.revuze.it\/blog\/wp-json\/wp\/v2\/posts\/25616\/revisions"}],"predecessor-version":[{"id":25712,"href":"https:\/\/www.revuze.it\/blog\/wp-json\/wp\/v2\/posts\/25616\/revisions\/25712"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.revuze.it\/blog\/wp-json\/wp\/v2\/media\/25621"}],"wp:attachment":[{"href":"https:\/\/www.revuze.it\/blog\/wp-json\/wp\/v2\/media?parent=25616"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.revuze.it\/blog\/wp-json\/wp\/v2\/categories?post=25616"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.revuze.it\/blog\/wp-json\/wp\/v2\/tags?post=25616"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}