Data is the foundation of every modern marketing plan. What distinguishes some marketing approaches from others is the way that data is collected, how it's leveraged and how effectively it can drive desired outcomes. The ability to nail these competencies, which can be optimized by the right technologies, can mean the difference between success and failure. Loyalty programs can be robust sources of customer information and are particularly suited for collecting data at the top of the sales funnel. It is a mistake to view loyalty and promotion programs as simply a vehicle for driving incremental purchases.
SAN DIEGO--(BUSINESS WIRE)--Chatmeter, the leader in local search marketing and review management, today revealed new research proving the trustworthiness of online reviews and the impact they have on consumers' trust in a brand. In advance of National Honesty Day (April 30th), these findings combined with the launch of Chatmeter Pulse, a sentiment analysis engine, will help businesses understand first-hand what their customers are experiencing and how they make actionable decisions on where to improve the customer experience, products, marketing messaging, and operations. By becoming familiar with the needs and wants of their customers, this will naturally increase loyalty and trust with the brand itself. With National Honesty Day approaching, Chatmeter further examined if fake reviews are a real issue, or just the latest in fake news. There are plenty of headlines and even some lawsuits around fake review ramifications.
With the Artificial Intelligence (AI) market predicted to grow at a CAGR of 53.65% from 2015 to 2020, momentum for AI is undoubtedly surging. AI, which is essentially the capability of a machine to imitate intelligent human behaviour (such as visual perception, speech recognition, etc.) and carry out multiple tasks, is proven to drive greater efficiency, and is on course to play a key role in propelling the growth of the retail sector. As consumers continue to demand greater speed and easier access to product and service information, fuelled by our connected world and the internet of things, AI will dramatically enhance the customer experience through improving responsiveness, personalisation and productivity. The potential of AI and its anticipated impact on the future of retail is massive, and by embracing it early on, brands and retailers have the opportunity to gain a major competitive edge. In a world where a growing number of customers now check their smartphones while in store and browse consumer-generated content (CGC), such as product ratings, reviews and Q&As, photos and videos, retailers and brands need to evolve and react to demands that blur the lines between online and offline shopper journeys.