BROWN BAG @ Bridge+, Science Park | Adapt and Grow

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Understanding Customer Product Reviews and Ratings: A Case at Amazon by Dr Jiang Zhiying

Brands need to leverage the enormous volumes of feedback that consumers leave on social media. Existing methods for understanding free-text based consumer feedback data (e.g. online reviews) are predominantly qualitative (e.g. sentiment analysis). Qualitative approaches, however, cannot provide quantitative predictions of a potential rating increase following a product improvement.

This talk will discuss a novel method that converts reviews and ratings into statistical data that can be used to forecast rating performance. This is achieved by assigning quantitative values of importance to the various features of a given product based on each feature’s percentage contribution to the product rating. With such information, marketing and innovation teams can optimise their investment decisions to address consumer needs accurately and therefore maximise return on investment.

Has the Explosion of Social Media made Brands Irrelevant? By Dr Lau Kong Cheen

The social media and m-commerce have given access to everyone that is connected to the digital space. Today, people can be easily influenced by friends, key opinion leaders(KOL) and the variety of posts that they come across on social media. A wide array of products can be easily accessed at competitive prices on popular e-commerce platforms such as Amazon, Lazada, Shopee, etc. Brands can no longer influence customers as they did before using broadcast, print and OOH media. They are constrained to assert control on consumer experience via the channels that they used to control. As such, the influence of what to buy and where to buy has shifted away from brand owners.

Are brands losing control of their influence over their target audience? Is branding being made significantly less relevant in the digital era? Come and listen to what Dr Lau, our expert in digital branding has to say about this.

 

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