As insights technology continues to innovate, retailers have no shortage of analytics to glean from the user-generated content (UGC) collected across their e-commerce site. Data from UGC can tell retailers how consumers feel about different products and brands, which products are performing best, and which products are in need of improvement.
From product review coverage to overall customer sentiment, these are the five types of insights retailers should consider regularly monitoring through analysis of their UGC program data.
- Measure the conversion impact of UGC on your site
Your UGC program data should be able to show you exactly how it’s impacting your bottom line and what types of UGC increases conversion rates.
You want to be able to identify key UGC drivers on your product description pages (PDPs). You’ll gain valuable insights when you can monitor how shoppers engage with UGC and identify how it affects sales on your e-commerce platform. Across the Bazaarvoice Network, we found a 136% lift in conversion rate when shoppers interact with UGC on best-in-class sites.
By measuring shoppers engagement with UGC — like ratings and reviews, visual content, and questions and answers — you’ll discover the difference between how customers convert when there’s no content, when there’s content but they didn’t actively engage with it, or if they passively or actively engaged with it.
If you’re a Bazaarvoice client, you can keep close tabs on this data with the Conversion Impact Report. This report allows you to easily monitor how shoppers engage with UGC and identify how that affects sales on your ecommerce platform.
- Evaluate product coverage
Evaluate product coverage to see where you can improve your PDPs by seeing which pages lack adequate review coverage. By regularly identifying products with high pageviews but low review volume, you can better understand popularity and gaps. You want content that performs well — which, UGC does — to be in as many places as possible, and especially where you know you customers will see it.
Bazaarvoice clients can easily track the percent of products or pageviews with at least one review, regardless of whether the review came in via native, sampling, syndication, or product families, and view a list of popular products with few reviews or a list of products with high pageviews and low review volume.
- Track at the brand/product/category level
As a retailer, it’s important for you to know what brands are performing well and which are underperforming. By tracking insights at the brand, product, and category levels, you can quickly identify areas of opportunity and prioritize accordingly.
Bazaarvoice clients have access to Product Performance Insights, which allows you to easily view products, brands, or categories that have a low average rating. And with a vendor scorecard, you can take those insights and score brands or products for performance with average rating, review volume, and percent of questions answered. Then you can send the scorecard to your brands to show them what they need to do to improve sales.
- Understand customer sentiment
Discover how shoppers really feel about your products to improve your products and/or messaging by leveraging UGC data to identify areas of praise and complaint. An ideal customer sentiment insights strategy should analyze the lowlights and highlights, revealing what customers love and hate about products. It should also have the capabilities to extract notable quotes in reviews that will level up your marketing strategy.
With Bazaarvoice, clients can easily access customer sentiment insights to identify Products with Lowlights/Highlights and Products with Notable Marketing Quotes. This helps you quickly identify what your customers are saying about the products you sell — especially beneficial for your private label items!
- Track performance
On top of analyzing insights at a micro-level, make sure you’re monitoring insights from a birds eye view. Keep tabs on content collection and overall program performance. A successful UGC program should have insights that allows retailers to monitor broad trends and review volume holistically.
Retailers should also monitor the performance of post-purchase emails asking for reviews and track unexpected changes. For example, you should know quickly if volume drops drastically month-over-month, so you could adjust your strategy accordingly.
Bazaarvoice clients can seamlessly monitor the performance of their post-interaction emails with the Email Engagement Dashboard as well as broad trends and review volume with the Program Overview and Inbound Syndication Dashboard.
By monitoring these five insights, retailers can easily keep their finger on the pulse of the health of their business and see how UGC is helping their business grow.