NEW YORK, Feb. 10, 2023 /PRNewswire/ -- Trustfeed Corp. (OTC:TRFE) a leading player in online reviews, anticipates further growth on the back of the McKinsey analysis showing the immense impact that online reviews have on the growth of consumer goods unit sales and revenue.
The McKinsey study analyzed a large sample of consumer goods companies and found that those with high ratings and positive reviews on major e-commerce platforms experienced significantly higher unit sales growth and revenue growth compared to their peers with lower ratings and negative reviews. McKinsey discovered that revenues from consumer durables with ratings of 3.7 or higher were five times higher than those from lower-rated products.
The results of the McKinsey study have significant implications for businesses, as they demonstrate that investing in building a positive online reputation can have a significant impact on sales and revenue growth.
That is good news for Trustfeed with an approximate addressable market of US$50 billion. Trustfeed's symbiotic approach uses machine learning and artificial intelligence tools to empower customers with a voice.
Through Trustfeed's validated data companies can determine or predict future innovative offerings that increase market-share and even unlock new product categories help companies leapfrog their competitors by driving much greater organic growth.
It is also good news for Trustfeed's majority shareholder Fastbase (OTC:FBSE) The webtracking, lead-generating app has 300 million companies with Google profiles, categories and any user reviews written. In a few weeks they plan to include Trusfeed reviews in the webleads results.
The study findings serve as a reminder that businesses must take a comprehensive approach to online reputation management, paying close attention to both the quantity and quality of online reviews.
McKinsey Report: https://www.mckinsey.com/industries/consumer-packaged-goods/our-insights/use-star-ratings-to-inform-durable-goods-redesigns-and-spur-growth
Source:
Fastbase Inc.
140 Broadway, 46th Floor
10005 New York, United States
RL@Fastbase.com
https://www.Fastbase.com/
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SOURCE Fastbase, Inc.
