{"id":9523,"date":"2021-01-11T09:00:05","date_gmt":"2021-01-11T09:00:05","guid":{"rendered":"https:\/\/www.revuze.it\/?p=9523"},"modified":"2021-01-11T09:00:05","modified_gmt":"2021-01-11T09:00:05","slug":"diagnose-sales-funnel-with-sentiment-analysis","status":"publish","type":"post","link":"https:\/\/www.revuze.it\/blog\/diagnose-sales-funnel-with-sentiment-analysis\/","title":{"rendered":"How Brands Can Diagnose Their Sales Funnel With Sentiment Analysis (2021 Guide)"},"content":{"rendered":"

According to research by Statista, the global eCommerce conversion rate is averaging under 3%!!!!<\/a><\/p>\n

This means that out of every 1,000 consumers checking you out, visiting your online store, and engaging with your offerings \u2013 less than 30 consumers will buy from you.<\/p>\n

When looking at the solutions available to brands to optimize the different phases of the sales funnel, the phase that seems the most challenging to diagnose is the decision phase (Right after Interest and before Purchase).<\/p>\n

Brands can diagnose their sales funnel with sentiment analysis<\/a> when applied to eCommerce ratings and reviews, Let\u2019s explore why.<\/p>\n

A Quick Overview Of The Sales Funnel & Tools<\/strong><\/h2>\n

\"Simple<\/p>\n

The simple version of the sales funnel is split into 4 phases:<\/p>\n

    \n
  1. Awareness<\/strong>: Making the consumer aware of your brand\/offering<\/li>\n
  2. Interest<\/strong>: Moving the consumer to take an active interest in your offering<\/li>\n
  3. Decision<\/strong>: When the consumer is deciding between alternatives<\/li>\n
  4. Purchase<\/strong>: The purchase action<\/li>\n<\/ol>\n

    Awareness\/Interest phases are typically owned by Marketing and analyze activities like Social Media chatter, Website visitors and behaviors, etc. For these phases, the marketing team will likely use Social Media Monitoring\/Listening tools, Web Analytics, Customer Journey Analytics, etc.<\/p>\n

    The Purchase phase is typically done on your D2C (Direct To Consumer) brand website or retailer\/marketplace websites. On D2C, your eCommerce team, who manages your online store, will be using eCommerce Analytics tools to understand engagement\/abandonment, etc. When you rely on retailers and marketplaces, you will need to get metrics from them to monitor your success in this phase.<\/p>\n

    The most challenging phase is the Decision phase, where consumers compare your offering to others, and you do not know which or why. How do they decide?<\/p>\n

    The Promise Of eCommerce Ratings & Customer Reviews<\/strong><\/h2>\n

    2.4Billion <\/strong>internet users post reviews globally (Which is 52% <\/strong>of global internet users<\/a>), which means for most industries, there will be plenty of verified purchasers\u2019 feedback <\/strong>on your competitors and you.<\/p>\n

    eCommerce ratings and reviews are rich in information about products, services, and the purchase process. Real buyers<\/strong> who bought a product provide feedback such as:<\/p>\n