TruRating, a customer experience and insights company with offices in London, Atlanta and Sydney, has announced that it has collected over 200,000,000 consumer ratings which, it says, positions it as the largest and fastest-growing provider of verified customer feedback in the world.
Used by retailers including JD Sports, Calvin Klein and Tommy Hilfiger – TruRating is a graduate of the prestigious Mastercard Start Path program and has won more than a dozen business awards. These include Wired’s Top 100 Start-Ups, a Gartner Cool Vendor listing and most recently, Best Customer Analytics and Retail Insights Platform at the Vendors in Partnership Awards for the second year in a row.
Founded by consumer rights’ advocate and lawyer Georgina Nelson (an FDM Everywoman in Tech & EY Winning Woman), TruRating was built to solve a critical issue within the the existing reviews and customer insights industries – a lack of accessible and representative information for consumers about businesses, due to dwindling survey response rates.
Partnering with international payment providers, Nelson set out to achieve what industry insiders said was impossible – a global feedback platform that would allow consumers to rate their experiences as they pay, using the payment device itself. By making it incredibly easy to feedback, TruRating connects businesses with thousands of their customers on a daily basis.
Speaking of the achievement, Nelson said “200 million is a huge milestone for us. I’m incredibly proud of our team for making it through a pandemic year, which created so many challenges for retail, and coming out of it all the stronger. By thinking of the consumer and making it easy for them to feedback, we’re helping businesses adapt to evolving consumer expectations faster than ever before possible.”
A recent controversial article by McKinsey noted that customer insights programs – a multi-billion-dollar industry – have been hindered by fatigue around long, multi-question surveys, traditionally incentivised by nominal rewards in exchange for personal data. At the same time, online review sites such as Trip Advisor, Trustpilot and Yelp have come under increasing scrutiny for their inability to cleanse their systems of suspect or ‘fake’ reviews. By making feedback easy, and ensuring every rating is tied to a real and genuine payment, TruRating solves a long-standing problem for consumers and businesses alike.
For Nelson this is just the beginning, “My ambition is to see TruRating recognized as the No.1 source for verified, trusted consumer ratings the world over. Businesses and consumers need to communicate – now more than ever – by meeting the needs of both parties, we can help each to make better decisions using trusted information.”
Nelson cited Nike’s major franchise in Australia (RPG) as an example of a business that has used TruRating to understand their customers better, while attributing a 5 per cent lift in ATV as a result of improved execution thanks to the tool.