A guest post from Colleen of eComEngine, delineating the power of well-tapped product review data:
If you’ve sold online for very long, you already understand how quickly things can change. One minute, an item is the hottest trend. The next minute, it’s already out of style.
Staying ahead of the curve can be challenging, especially for small to mid-sized eCommerce stores. Luckily, Amazon product review data is a goldmine of information. You just need to know how to use it effectively.
In this post, we’ll share three reasons why Amazon product review data is so valuable to your business (and what to do with it).
Product Reviews Serve as Your Own (Free) Focus Group
Multinational corporations spend millions of dollars each year on focus groups and product research. The purpose of this data is to understand customers’ wants and needs and then adjust product mixes to better serve the market. Unfortunately, for most eCommerce companies, market intelligence often falls to the bottom of the priority list. While the data could be extremely useful, spending significant resources on customer research simply doesn’t make financial sense.
Smart merchants already understand that there is a treasure trove of intelligence available (for free) on the Amazon marketplace. Simply key in any SKU, ASIN or brand name, and you can instantly read what hundreds of consumers think about the products you sell.
Naturally, most reviews are from orders fulfilled by other merchants or Amazon.com, Inc. (“Amazon”). But that’s the great news about how Amazon has structured its feedback system. As we pointed out on our own blog, seller feedback and product reviews are completely different data points. So, when you’re analyzing product reviews on the Amazon marketplace, you can be assured that any shipping or service related issues are isolated to the seller’s feedback rating. This means that product reviews actually reflect how a product performs.