New AI Technology and Research from Chatmeter Confirms Brands Build Consumer Trust with Reviews.
a local search marketing and review management company, 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.
Consumers prove reviews are increasingly trustworthy and important
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. However, when it comes to online reviews, Chatmeter’s latest research proves it’s not an epidemic as the majority (53%) of consumers rarely or never see a fake review. Not only are 80.7% of consumers using online reviews to influence their purchase decisions, they are more scrutinous at what constitutes an honest review, which may help or hinder trust in a company.
What’s telling from this data, are the kinds of reviews consumers believe are most trustworthy and factors which impact trust of a brand:
Seeing Stars – The majority of respondents say a star rating of a location is the biggest contributor to trust in a particular store, with 4 stars driving the most trust (41.8%).
Quantity and Sentiment – Next to a star rating, the quantity and sentiment of reviews represented key factors which contribute to trust in an online review of a company or store.
Millennial Trust Issues – Respondents ages 18-34 are more trusting of a brand that has 100+ reviews, while ages 45-54 are trusting of a brand with just 1 review.
*Just Google It* – In 2016, mobile ad spend jumped 77% to $36.6 billion; but how valuable are these ads if customers can’t find local, positively-ranked store locations? Underscoring the valuable connection between online reviews and local SEO, 51.6% of respondents report they turn to reviews on Google the most, followed by 32.3% who prefer Facebook.
“With industry concerns around fake reviews on many e-commerce sites, it’s reassuring for brands to know fake reviews are not an issue in the local search space. We have seen this affirmed in our sentiment analysis across millions of reviews, and now in our recent consumer survey. However, providing great customer experiences and getting your happy customers to share them is more important than ever,” said Collin Holmes, CEO of Chatmeter (pictured top left).
Chatmeter AI technology helps bring awareness of consumer reviews and action to brands
Insights down to the location level – Most social tools provide sentiment analysis across the entire brand. Chatmeter’s ability to geotag content locally, allows operators to know what specific issues are occurring at each location/region, without reading hundreds of reviews.
Improved sentiment accuracy – Typical sentiment accuracy is around 70-80%, however, Chatmeter’s updated technology able to detect sentiment accuracy is scoring between 80-90% accuracy. We also apply machine learning from ongoing data collected to improve accuracy over time and the engine itself gets smarter.
Enhanced industry accuracy – Most sentiment algorithms are either open source or built for social across mentions on all brands and all industries. Chatmeter’s built in-house technology, is optimized based on each industry we serve. By doing this, we have greater accuracy for word variations based on industries. Cold for Hotels would be negative (cold shower), but cold for Restaurants would be good (cold beer).
Topic Analysis – A thorough review may talk about the good the bad and the ugly and most sentiment tools tend to identify and measure an overall score across the entire review. With Chatmeter’s technology, it identifies a topic that may be positive in one sentence but have negative aspects in others and rolls up the scoring of all those sentiments into more accurate individual ratings.
Chatmeter (www.chatmeter.com) helps enterprise retail brands and agencies managing multiple locations increase their revenue.
The benefit for the clients is complete online presence management simplified into a single dashboard. They also power a white-label reputation management dashboard for many agencies across the U.S. Some clients include Sears, Verizon Wireless, Comcast, Aaron’s, Kohl’s, Bruegger’s Bagels, Texas de Brazil, and Dickey’s BBQ.
Media Storm Taps Jeremiah Rosen As Chief Revenue Officer.
Media Storm announced Jeremiah Rosen (pictured left), former President of SapientRazorfish-owned Campfire, has joined as the agency’s Chief Revenue Officer, to expand revenue streams across the entire company’s portfolio.
In addition to being charged with growing the agency’s broader revenue base, he will be driving new business for Media Storm’s exclusive data-driven tools—JubaPlus, the agency’s data sciences and audience targeting solution, and Ninety9X, its transparent programmatic platform—as well as Media Storm’s social media arm 3Degrees. Rosen will lead these functions from the company’s New York City office, reporting directly to Media Storm CEO Christina Norman.
“Jeremiah brings end-to-end business savvy, broad industry expertise, and far reaching relationships across the media and marketing spectrum that will be priceless to Media Storm as we expand our client base,” said Norman.
“Media Storm has made an indelible mark as a trailblazer in entertainment and retail media, and I am thrilled to be joining the leadership team,” said Rosen. “As the agency now directs their cultural know-how towards other verticals, I look forward to expanding the agency’s business portfolio and voice. They are a true partner to their clients and not a vendor—and that is not easily found these days”
During his decade-long tenure as President of Campfire, Rosen secured client relationships with HBO, Verizon, Captain Morgan, Warner Bros., Ketel One, Showtime, Infiniti, and other world-class brands, building a nationally recognized agency that received widespread industry recognition. He also led the agency’s acquisition by SapientNitro in 2014, as the agency’s lead partner and executive.
Rosen earned a B.A. degree from Dickinson College, and holds two degrees from Syracuse University: a J.D. from the University’s College of Law, and a M.A. from SU’s Newhouse School of Communications.
About Media Storm
Media Storm is a media planning and buying agency that activates the science of cultural influence to create relevance and impact. Leveraging its roots in entertainment, the agency has used its expertise and insights to create powerful campaigns for iconic brands in other sectors, including hospitality, tourism, packaged goods, beverage, fashion retail, and healthcare. Media Storm has offices in New York, Los Angeles, and Connecticut.
John Sculley and David A. Steinberg’s Zeta Global Raises $140 Million in New Funding from GPI Capital and Blackstone’s GSO Capital Partners.
Zeta Global, a data-driven marketing technology innovator, announced it has secured $140 million ($115 million in equity capital and $25 million in debt financing) in its Series F financing round from GPI Capital (Global Partnership Investing) and funds sponsored by Franklin Square Capital Partners and sub-advised by GSO Capital Partners LP (GSO), the credit division of Blackstone (NYSE: BX). The latest round of funding marks the biggest raise in the Company’s history. Since its inception, Zeta has raised more than $250 million in capital.
Zeta Company grew more than 50% in 2016, building on its track record of success for using data-driven marketing technologies and tools to enable brands to break through and connect with their customers and improve marketing ROI in today’s hyper-converged marketing technology ecosystem.
“This is a watershed moment for Zeta Global. We are thrilled to start our new relationship with GPI Capital and are proud of our continued support from our partners at GSO and Blackstone,” said David A. Steinberg, Zeta Global’s CEO and Co-Founder. “We are hitting every milestone in our evolution and will continue to capitalize on acquisitions that will enhance and extend our marketing cloud so that we can deliver even more to our blue-chip client base.”
“We are very bullish on the shift towards data-driven digital marketing,” said Bill Royan, the Managing Partner and Chief Investment Officer of GPI Capital, who will join Zeta’s Board of Directors at the close of the deal. “We believe that Zeta’s assets and capabilities make the Company uniquely positioned to capitalize on this shift. We’re delighted to become involved with the company at this stage of its trajectory.”
This funding comes at a pivotal point in Zeta Global’s development, as the new financing will help fuel Zeta’s growth through strategic acquisitions and investments in technology, operations and sales & marketing.
“It’s amazing to look back at where David and I first started when Zeta was created almost 10 years ago – “big data” wasn’t even a term,” said John Sculley, Zeta Global’s Co-Founder and former CEO of Apple Computer and Pepsi-Cola (pictured above). “Today, Zeta Global is an outstanding and well-regarded technology platform, with a blue-chip client base and solid leadership team with the right DNA to continue our mission in providing the world’s leading brands the solutions they need to succeed in this rapidly changing, digitally-driven marketing ecosystem.”
Since the start of 2017, Zeta has made noteworthy moves in bolstering its technology platform and its leadership team. In March, the Company named Donald Steele, former Managing Director of North American Sales at Epsilon, as its first Chief Revenue Officer. In late 2016, Zeta appointed Jarrod Yahes, former Chief Financial Officer of Jackson Hewitt Tax Service Inc. and Senior Vice President and Controller for ExlService Holdings, Inc., as the company’s new Chief Financial Officer.
The Company’s award winning ZetaHub platform has also made major strides in the past 18 months garnering the attention of leading analysts and Fortune 500 clients. ZetaHub was recently recognized as a Visionary in the Gartner Magic Quadrant Report for Digital Marketing Hubs for the first time and rated number one in The Relevancy Group’s Relevancy Ring and Red Pill Email reports for enterprise email platforms.
Credit Suisse served as exclusive placement agent and financial advisor to Zeta Global.
Jivox Names Shankar Venkataraman Sr.VP Engineering, Appoints Anna Luo VP Customer Innovation & Marketing.
Jivox, a personalized digital marketing technology company, announced that Shankar Venkataraman (pictured left) has been named Senior Vice President of Engineering, joining from Everstring where he served as Chief Technology Officer. Shankar was previously Chief Scientist at Marketo and prior to that was Chief Technology Officer for IBM Analytics. In his new role with Jivox, Venkataraman will lead the future vision for the company’s AI-based programmatic creative platform, harnessing the growing capabilities of machine learning as it achieves greater outcomes for today’s brand marketers. He will also collaborate with agencies and brands on how to efficiently expand their reach to target audiences.
“With close to three decades in the industry, Shankar is a distinguished technology leader with a proven track record for achieving scale and performance for global campaigns,” said Diaz Nesamoney, Chairman and CEO, Jivox. “We are excited to have him join the team at this pivotal time—as we harness the combined powers of programmatic and machine learning. I am honored to be working with Shankar again.”
Jivox also announced today that Anna Luo (pictured left) has joined the executive team as Vice President of Customer Innovation and Marketing. With two decades of marketing experience that included business and operational intelligence, streaming data and analytics, and data/network security, Anna has spent much of her career driving cross-functional collaboration to scale startups and contributing to successful exits for her companies through IPO and acquisitions. Most recently she served as Senior Director of Marketing at Vidder, Inc.
In her new position, Anna will oversee the Jivox Customer Innovation Program, which aims to establish an open dialogue and collaboration with clients to put them on a path of increased competitiveness and accelerated growth. She will also be responsible for leading Jivox’s marketing efforts, including the company’s thought leadership, integrated marketing, and demand generation strategy.
“Anna is a committed driver of customer experience in our industry,” said Diaz. “Her passion for introducing cutting-edge technologies to enterprise customers will be invaluable to the growth of our innovation program, deepening relationships with marketing practitioners, and establishing success for the brands we serve.”
Jivox connects brands with their audiences using big data and machine learning to serve relevant messages in their purchase-intent micro moments across all channels. Jivox IQ is purpose-built to assemble and deliver 1:1 messages on-the-fly—through advertisements, email and social media. Powered by Neuron™ Machine Learning technology, this intelligent platform helps brands deliver, at scale, thousands of hyper-personalized messages through a real-time omnichannel experience—all made possible by integration with data of every kind: proprietary, audience, contextual, campaign. Jivox is trusted by hundreds of leading companies including Toyota, Cars.com, Sony, REI, Bayer, Priceline.com, and more.