New services uses social media to rank companies
A NEW website helps consumers find the best service by ranking companies according to their customer feedback on social media.
ServiceRage (www.ServiceRage.com) launched this week with analysis of more than 10,000 Twitter comments about more than 50 companies in Banking, Health Insurance, Energy and General Insurance.
ServiceRage founder Matt Travers said the site was the first of its kind and would enable consumers to quickly see which companies have the happiest customers.
"Social media 'sentiment analysis' has previously only been available to the marketing departments of big companies - we're putting it in the hands of consumers."
"Most comparison sites focus on price but not everyone wants the cheapest deal at all costs. Often people are prepared to pay a little more if they can avoid the headaches involved with bad service. We help consumers find a company that's going to keep them happy."
Mr Travers said the idea was born out of reading customer service horror stories from friends and family on social media.
"These stories provide an incredible insight into what it's really like to be a customer, but as individual anecdotes, it can be hard to see the wood for the trees."
"We decided to bring all the stories together in one place so consumers can quickly see the pattern for each company, read the individual comments and then make a decision about where they'll get the best service."
Mr Travers said he expected to see more positive feedback on social media as consumers see the value in rewarding companies for good service.
"We also record positive feedback and the best companies actually get more praise than complaints."
"I hope ServiceRage can be part of a feedback loop that rewards good service and encourages Australian companies to lift their game."
ServiceRage uses a combination of computer algorithms and human editors to classify comments as positive, negative or neutral. It then ranks companies according to their mix of positive and negative.
ServiceRage publishes details of its classification process and guidelines to ensure the classification is consistent and objective.
Mr Travers said ServiceRage plans to extend to other industries in the future.
"We've started with industries where it's hard to judge what sort of service you are going to get when you sign up. But we'd love to expand it in the future to every industry where service is an issue."