Awards Application — Retail System Awards — Best Data and Analytics Provider
(Awarded Nomination — March 2021)
TruRating — Smarter, Faster Customer Insight
Scratch the surface of CX providers today and a number of critical issues arise again and again:
1. Low response rates
2. Lack of speed
3. Little actionable insight
4. Limited impact on increased revenue
Without volume, your data is not representative. Without speed, your data quickly loses any validity it might have had for the purposes of decision making. Without insight you have no action and without a link to customer spend you have no impact to the bottom line.
Lack all? You don’t have a solution at all.
Point-of-Sale CX Insight
TruRating solves for this by enabling businesses to ask for feedback using their in-store payment devices and eComm websites. Our method means businesses can track how customers feel against how much they spend, in a way that no other solution can. With average response rates of 80%+ in-store and 50% online, we truly capture the majority voice of customers.
By making feedback easy for customers and intuitive for businesses to action, our solution solves the traditional CX issue of low-volume and unrepresentative data, and the wider business issue of implementing and acting on insights that have a significant financial impact in real-time.
The Missing Link — Real-time, Authentic and Representative
While the industry of customer experience industry has a number of providers who are able to provide real-time and authentic feedback, were they all fall down is a matter of scale. By removing the friction from feedback, while ensuring every rating we collect is tied to a validated and secure payment, TruRating has a genuine claim to say our solution is ‘revolutionary’ within the space.
Daily Key-Driver Analytics
But of course none of this would mean anything if the data we collected wasn’t actionable. Beyond solving the issue of collecting feedback, our use of the payment terminal opens up the potential store-level insights at a level of granularity never before possible.
TruRating collects transactional, basket and customer sentiment data matched to a rotating set of key operational CX metrics (Service, Product, Experience, Value + Reccomendability/TruNPS) alongside programmable ‘custom questions.
The volume of data we collect, sentiment-spend snapshots of each of these key drivers, down to the half-hour level, on a daily basis. In terms of multi-channel operational insight, we’re changing the game.
As will be shown in our case studies, we’re also able to deliver custom questions on specific areas of concern for merchants and collect data in a matter of days, that previously may have taken weeks or months. Our technology turns every customer into a polling panel member, removing the need to invest in costly and slow market research panels.
COVID-19 — how we helped
In a particularly difficult year for retail, our technology has helped merchants work through some of the issues brought on by the pandemic. For one large retail chain, we were able to help with the execution of new safety measures at the onset of COVID. Using TruRating to measure staff compliance, we were able to help the retailer reach near perfect levels of compliance in return driving an increase in customer spend.
By delivering actionable questions at the point-of-sale, not only were we able to help our retailers not only raise awareness of their own actions, but to measure compliance across every-store in their estate, capturing detailed data maps of execution, down to the very hour. of each day.
Another retailer we worked with was keen to understand public appetite for click and collect across their stores once it became clear that shopping conditions were going to have to drastically change. In a single week we collected 5,000 responses allowing them to assess the likely uptake and also by geography which areas of the country had highest demand.
Polling Data
In another unique application of our technology, over the past year we have been able to provide our retail clients with unique insights into consumer attitudes on key topics such as COVID-19 Health and Safety Concerns and attitudes towards the ‘Cyber Weekend’ sales by utilizing our unique ability to ask 1 in 100 of the questions we deliver in-stores towards a more general topic of interest.
We were able to share these insights with our global base of retailers to help keep them connected to their customers in a time when dialogue and communication was stretched to levels not seen for years.
Client Testimonials
Our work with British retail success story JD Sports was crucial as part of their acquisition into the United States this year — with TruRating now serving Finish Line and their new JD US stores, they have an amazingly consistent view of performance.
“We now get millions of customer ratings and as a result our statistics make sense. We can now identify our target areas for improvement and measure the impact on an ongoing basis.”
Wayne Davis, Retail Director, JD Sports Group.
“TruRating is embedded in everything we do — it’s now a fundamental part of what our business is”.
Chris McGuinnity, Head of Retail, Blacks
A Growing Global Success:
TruRating is excitedly being adopted around the world, with a global footprint covering Australia & New Zealand, North America and the United Kingdom. A snapshot of our current global merchant list includes JD Sports, Blacks, Size?, Finish Line, WH Smiths Travel, Kathmandu, New Balance, Rue 21, Bealls, Champion, and Nike (via their master franchisee group RPG).
As CX continues to be an ever-important focus for the global retail community in 2021 and beyond, we expect to see our disruptive technology continue to break new ground in the retail analytics space. As the CEO of Kathmandu recently told us at their global conference, “TruRating has been a game changer for us in terms of data and analytics”.
