Looking to Gain Market Share? AI Analytics Platform Native AI Has the Solution

If you’re concerned about market share, you’re not alone. The rise of ecommerce, accelerated by the pandemic, has led to an increase in competition across all consumer product segments. Simultaneously, Forbes reported in the past year that consumers are less loyal to brands than ever before. These two factors mean that market share volatility has reached an all-time high.

Whether you’re a new startup that recently vaulted into popularity or you’re an established brand, you need to be paying attention to your competitors. Luckily, with recent advances in artificial intelligence, competitive benchmarking is getting much easier.

Native AI is a customer intelligence platform that can track consumer feedback across more than 200 ecommerce sites, including Amazon, Walmart, Target, Albertsons, Whole Foods, and many other grocery and retail chains. Native AI uses proprietary Natural Language Processing (NLP) to comprehend the meaning and sentiment of each review and summarizes the overall themes within its Analytics Dashboard. Not only can you filter reviews by product, distributor, date, sentiment, or any custom keyword, but you can also see how your products stack up to competitors using a proprietary feature called Quality IQ.

Quality IQ provides a way for brands, agencies, and market researchers to explore sentiment changes across a variety of dimensions. Once you set up a keyword or phrase, the Natural Language Processing engine will begin analyzing consumer sentiment associated with those attributes. Which products do consumers like best in terms of taste or appearance? What about price or value? With Quality IQ, brands can identify areas of improvement and even pinpoint opportunities where competitors have disappointed consumers.

Market share is relatively easy to measure with sales metrics but difficult to predict. That’s why you need the right leading indicators. Verified purchase reviews contain an incredible wealth of information because not only do they give you a sense of how likely people are to purchase again, but they more specifically indicate the sentiment shift from before purchasing to after purchasing. If you can understand why you or your competitors exceeded (or failed to meet) customer expectations, you can take action.

Quality IQ will automatically surface the top product attributes to benchmark based on common themes within customer feedback, but this is just the tip of the iceberg. If you are seeking to establish dominance for a specific attribute or use case, you can create a custom Quality IQ that detects related language. Another way to accomplish this is to chat with Digital Twins of your and your competitors’ customers. “Digital Twins” is Native AI’s generative AI solution that trains Large Language Model personas to answer like your actual customers.

Moving the needle on consumer perception is the number one thing you can do to grow market share for your existing products. Thanks to advancements in AI and Natural Language Processing, identifying areas of opportunity and measuring improvement over time is no longer cumbersome. There is no better signal than listening to what actual customers are saying after making a purchase.

If you’re interested in how Native AI converts customer feedback into actionable insights, visit the company’s website.