Use Competitor Reviews to Unlock Competitive Advantage
Many brands know to monitor their own social comments and reviews, but your competitor’s reviews and other user- generated content also holds a wealth of knowledge just waiting to be unlocked. There are simple steps a brand can do on their own and others that may require an outside organization, but all of them can help you grow market share and gain an advantage.
Follow these steps to leverage those reviews and gain a competitive advantage.
Measure your Competitor’s Longitudinal Performance
Measure your competitor’s aggregated performance over time via their longitudinal star rating by year, quarter or even month to assess their performance over time. If they have a significant rise or drop in review rating, that may signify a change in consumer experience. Whether positive or negative, you have an opportunity to exploit this. This also gives you the opportunity to compare your own longitudinal star rating to your competition.
Check Out your Competitors eCommerce Questions
User-generated content isn't just reviews and social comments. Read eCommerce questions to uncover trial barriers and unmet needs that you can easily fulfill. This can easily be done by your brand in just a few short hours. Consumers leave questions when they’re confused or want to know how a product performs before they make a purchase. These questions can give you keys to what they want out of the category.
Audit Competitive Review SKUs
Audit the number of competitive reviews by SKUs/ASINs to understand how your brand's SKUs stack up. This may help determine if you need to solicit reviews via an e-retailer’s review program.
Search Competitive Reviews for Mentions of your Brand
Unlock mentions of your brand throughout your competitor’s reviews. Another task a brand can DIY themselves. Use the search bar to see when their consumers are mentioning you, and why. This may allow you to see if a consumer made the switch from your brand to a competitor, and how to win them back!
Review your Competition's PDP's
Review your competitor’s Product Detail Pages on Amazon and other sites to evaluate them against your brand's product pages. Use the reviews to uncover your priority of communication for your own PDP.
Unearth Positive and Negative Drivers
Mine competitive reviews for positive and negative drivers that uncover your competitors' strengths and vulnerabilities. This will require the ability to extract all of your reviews from online signs and preform data analysis, but ultimately, this will provide the most holistic understanding of their performance. This will give you something to measure your own brand against, as well.
At a time when more and more consumers are making their delighters and disappointments noted online, there is an untapped wealth of knowledge at your fingertips. Following these easy steps can get you closer to your goal of competitive advantage.