Retrieval Augmented Generation For Customer Reviews: The Future of Data-Driven Marketing
Customer reviews are a crucial aspect of any business. They provide valuable insights into the experiences and opinions of customers, which can be used to improve products and services, attract new customers, and retain existing ones. In today’s digital age, where online shopping and e-commerce reign supreme, customer reviews have become even more important. With a few clicks, potential customers can access a wealth of reviews from other consumers, making it a deciding factor in their purchasing decisions.
But with the sheer volume of customer reviews available, it can be overwhelming for businesses to manually analyze and utilize this data effectively. This is where retrieval augmented generation (RAG) comes in – a revolutionary approach to customer review analysis that combines natural language processing (NLP) and generative AI to provide more accurate and comprehensive insights.
The Definition of Customer Reviews
Customer reviews are written or recorded statements made by customers about their experience with a product, service, or business. They can be found on various online platforms such as e-commerce websites, social media, review sites, and forums. These reviews can range from simple star ratings to detailed comments and feedback.
For many businesses, customer reviews are a vital source of information. They provide unfiltered and honest opinions from real customers, making them highly influential in shaping perceptions and purchase decisions. In fact, studies have shown that positive reviews can increase sales by up to 18%, while negative reviews can turn away 40% of potential customers.
The Benefits of Customer Review Analysis
As a researcher, marketer, or organization, analyzing customer reviews can bring numerous benefits, including:
1. Understanding Customer Sentiment
Customer reviews are a goldmine of information on how customers feel about a product or service. By analyzing the language and tone of reviews, businesses can gain valuable insights into customer sentiment and use this information to improve their offerings. For example, if a particular feature receives consistently negative feedback, the company can work on improving it to meet customer expectations.
2. Identifying Pain Points
Customer reviews often contain specific details about what customers liked or disliked about a product or service. By analyzing this data, businesses can identify common pain points and address them to improve customer satisfaction. This can also help in product development and innovation, as businesses can use customer feedback to design products that meet their needs and preferences.
3. Improving Marketing and Advertising Strategies
Customer reviews can provide valuable insights into the effectiveness of marketing and advertising strategies. By analyzing the language and keywords used in positive reviews, businesses can identify what resonates with customers and use this information to refine their marketing efforts. On the other hand, negative reviews can highlight areas where the company’s messaging may have missed the mark, allowing them to make necessary adjustments.
4. Tracking Competitor Performance
Analyzing customer reviews not only provides insights into a business’s own performance but also that of its competitors. By monitoring and comparing reviews, businesses can identify areas where their competitors excel and use this information to improve their own offerings.
The Power of Retrieval Augmented Generation
Traditional methods of customer review analysis involve manually reading and categorizing reviews, which can be time-consuming and prone to human error. This is where retrieval augmented generation (RAG) comes in as a game-changing approach.
RAG combines the power of NLP and generative AI to automatically analyze and generate summaries of customer reviews. By using large language models, RAG can understand the context and sentiment of reviews, providing more accurate and comprehensive insights. It can also generate summaries of reviews, making it easier for businesses to quickly understand the overall sentiment and common themes.
With RAG, businesses no longer have to spend hours sifting through reviews to find the relevant information. It allows for faster and more efficient analysis, freeing up time for businesses to focus on other important tasks.
The Future of Data-Driven Marketing
As technology continues to advance, so does the potential for data-driven marketing. With the integration of NLP, large language models, and generative AI, RAG is just one example of how businesses can harness the power of data to gain a competitive edge. By utilizing customer review analysis, businesses can better understand their customers and make data-backed decisions to improve their products, services, and overall customer experience.
In conclusion, customer reviews are a valuable source of information for businesses, and analyzing them can bring numerous benefits. With the emergence of retrieval augmented generation, the future of data-driven marketing looks promising, providing businesses with more accurate and efficient ways to understand and utilize customer feedback. So, don’t overlook the power of customer reviews – embrace it with RAG and take your business to the next level.
How To Use Speak’s Retrieval Augmented Generation For Customer Reviews
Step 1: Create Your Speak Account
To start your transcription and analysis, you first need to create a Speak account. No worries, this is super easy to do!
Get a 14-day trial with 30 minutes of free audio and video transcription and analysis included when you sign up for Speak.
To sign up for Speak and start using Speak Magic Prompts with retrieval augmented generation, just visit the Speak app register page here.
Step 2: Upload Your Customer Reviews
We typically recommend MP4s for video or MP3s for audio.
However, we accept a range of audio, video and text file types.
You can upload your file for transcription in several ways using Speak:
Accepted Audio File Types
Accepted Video File Types
Accepted Text File Types
- Word Doc
You can also upload CSVs of text files or audio and video files. You can learn more about CSV uploads and download Speak-compatible CSVs here.
With the CSVs, you can upload anything from dozens of YouTube videos to thousands of Customer Reviews files.
Publicly Available URLs
You can also upload media to Speak through a publicly available URL.
As long as the file type extension is available at the end of the URL you will have no problem importing your recording for automatic transcription and analysis.
Speak is compatible with YouTube videos. All you have to do is copy the URL of the YouTube video (for example, https://www.youtube.com/watch?v=qKfcLcHeivc).
Speak will automatically find the file, calculate the length, and import the video.
If using YouTube videos, please make sure you use the full link and not the shortened YouTube snippet. Additionally, make sure you remove the channel name from the URL.
This library of integrations continues to grow! Have a request? Feel encouraged to send us a message.
Step 3: Calculate and Pay the Total Automatically
Once you have your file(s) ready and load it into Speak, it will automatically calculate the total cost (you get 30 minutes of audio and video free in the 14-day trial – take advantage of it!).
If you are uploading text data into Speak, you do not currently have to pay any cost. Only the Speak Magic Prompts analysis would create a fee which will be detailed below.
Once you go over your 30 minutes or need to use Speak Magic Prompts, you can pay by subscribing to a personalized plan using our real-time calculator.
Step 4: Wait for Speak to Analyze Your Customer Reviews
If you are uploading audio and video, our automated transcription software will prepare your transcript quickly. Once completed, you will get an email notification that your transcript is complete.
That email will contain a link back to the file so you can access the interactive media player with the transcript, analysis, and export formats ready for you.
If you are importing CSVs or uploading text files Speak will generally analyze the information much more quickly.
Speak will automatically embed your data in a well-architected vector database which allows you to use retrieval augmented generation for Customer Reviews.
Step 5: Visit Your File Or Folder
Speak is capable of analyzing both individual files and entire folders of data.
When you are viewing any individual file in Speak, all you have to do is click on the “Prompts” button.
If you want to analyze many files, all you have to do is add the files you want to analyze into a folder within Speak.
You can do that by adding new files into Speak or you can organize your current files into your desired folder with the software’s easy editing functionality.
Step 6: Select Speak Magic Prompts To Analyze Your Customer Reviews
What Are Magic Prompts?
Speak Magic Prompts leverage innovation in artificial intelligence models often referred to as “generative AI”.
These models have analyzed huge amounts of data from across the internet to gain an understanding of language.
With that understanding, these “large language models” are capable of performing mind-bending tasks!
With Speak Magic Prompts, you can now perform those tasks on the audio, video and text data in your Speak account.
Retrieval augmented generation is what makes these Magic Prompts work so well.
Step 7: Select or Create Your Assistant Type
To help you get better results from Speak Magic Prompts, Speak has introduced “Assistant Type”.
These assistant types pre-set and provide context to the prompt engine for more concise, meaningful outputs based on your needs.
To begin, we have included:
Choose the most relevant assistant type from the dropdown.
You can also create your own custom Assistant Template Type.
If you visit the new page Account Preferences, you can see there is now an area where you can create your own custom Assistant.
This allows you to set the context of the engine for higher quality and more consistent outputs.
For example, you could say:
“We are [COMPANY NAME]. We are analyzing [DATA] to understand how to improve [GOAL]. We want all responses to be concise and in table format.”.
This becomes a reusable template in any of your manual or automated Magic Prompts.
You can create multiple templates for different use cases.
As an example, the analysis you run on a focus group may be different than a one-on-one interview.
Step 8: Create Or Select Your Desired Prompt
Here are some examples prompts that you can apply to any file right now:
- Create a SWOT Analysis
- Give me the top action items
- Create a bullet point list summary
- Tell me the key issues that were left unresolved
- Tell me what questions were asked
A modal will pop up so you can use the suggested prompts we shared above to instantly and magically get your answers.
If you have your own prompts you want to create, select “Custom Prompt” from the dropdown and another text box will open where you can ask anything you want of your data!
Step 9: Review & Share Responses
Speak will generate a concise response for you in a text box below the prompt selection dropdown. With Chat enabled, you can also continue to query that data to reveal more insights and reformat the information to your needs.
In this example, we ask to analyze all the Customer Reviews in the folder at once for the top product dissatisfiers.
You can easily copy that response for your presentations, content, emails, team members and more!
Speak Magic Prompts Pricing
Our team at Speak Ai continues to optimize the pricing for Magic Prompts and Speak as a whole.
Right now, anyone in the 14-day trial of Speak gets 100,000 characters included in their account.
If you need more characters, you can easily include Speak Magic Prompts in your plan when you create a subscription.
You can also upgrade the number of characters in your account if you already have a subscription.
Both options are available on the subscription page.
Alternatively, you can use Speak Magic Prompts by adding a balance to your account. The balance will be used as you analyze characters.
Completely Personalize Your Plan 📝
Here at Speak, we’ve made it incredibly easy to personalize your subscription.
Once you sign up, just visit our custom plan builder and select the media volume, team size, and features you want to get a plan that fits your needs.
No more rigid plans. Upgrade, downgrade or cancel at any time.
Claim Your Special Offer 🎁
When you subscribe, you will also get a free premium add-on for three months!
That means you save up to $50 USD per month and $150 USD in total.
Once you subscribe to a plan, all you have to do is send us a live chat with your selected premium add-on from the list below:
- Premium Export Options (Word, CSV & More)
- Custom Categories & Insights
- Recorder Customization (Branding, Input & More)
- Media Player Customization
- Shareable Media Libraries
We will put the add-on live in your account free of charge!
What are you waiting for?
Refer Others & Earn Real Money 💸
If you have friends, peers and followers interested in using our platform, you can earn real monthly money.
You will get paid a percentage of all sales whether the customers you refer to pay for a plan, automatically transcribe media or leverage professional transcription services.
Use this link to become an official Speak affiliate.
Check Out Our Dedicated Resources📚
Book A Free Implementation Session 🤝
It would be an honour to personally jump on an introductory call with you to make sure you are set up for success.
Just use our Calendly link to find a time that works well for you. We look forward to meeting you!