Wilko.com, Superdrug, and Office, Leading retailers in the The aggregate sentiment from customer feedback is collated to form the Tracker, with the results revealing a negative relationship between sentiment, shown by the dotted line, and the amount a retailer is being talked about, shown by the bar. A negative relationship means that the typical sentiment is more positive when there are fewer mentions, and more negative when more conversations are about the retailer.[/caption]
“According to a seminal study titled ‘Advocacy Drives Growth’ by the London School of Economics, a seven point increase in customer satisfaction can lead to a one percent increase in revenue.” says Susan Ganeshan, Clarabridge CMO.
“For a retailer with $1B in annual revenue, that’s $10 million for every seven point increase. It’s clear that customer sentiment has a direct impact on revenue growth. To remain competitive, retailers need to find ways to understand customer pain points and effect change within the business.”
The Tracker reveals the sentiment associated with certain topics is largely positive or, conversely, negative. ‘Product design’ and ‘product selection’ were such majority-positive terms, with 92 percent and 75 percent of retailers, respectively, enjoying positive conversations with those key terms.
‘Order accuracy’, ‘damaged goods’, and ‘refund’, conversely, are terms associated with a generally negative sentiment for most retailers. Customers were most dissatisfied when mentioning ‘order accuracy,’ while ‘damaged goods’ was the term most frequently used in customer feedback expressing a negative sentiment for half the retailers in the study.
About the Brand Sentiment Tracker
The Brand Sentiment Tracker assesses publicly-visible customer feedback for 23 Elite and Leading retailers and is researched in collaboration with Clarabridge. Linguistic content is analysed to gauge sentiment, with ‘positive’, ‘negative’, or ‘neutral’ scores assigned to feelings expressed in the text. The Tracker is updated periodically, with some posts focussing on improvements and turn-arounds in sentiment, and others covering overall sentiment trading in different periods.