ReviewTrackers Acquired By InMoment as Consolidation Sweeps MarTech
ReviewTrackers, a customer review management software company with an extensive agency and reseller partner base, is being acquired by the customer experience management firm InMoment. It’s the latest example of the consolidation sweeping the digital marketing industry, and also a big moment for InMoment, which has quickly grown to become one of the most influential firms in the space.
ReviewTrackers is an important acquisition for InMoment. The company currently works with more than 175,000 business locations to manage customer reviews across hundreds of sites using its review management technology. With the acquisition of ReviewTrackers, InMoment becomes one of the first experience companies to extend customer insights, analytics, and action across the full customer lifecycle.
Combining ReviewTrackers’ customer review management technology with InMoment’s XI Platform gives InMoment the unique ability to expand beyond surveys to include social ratings and reviews.
How ReviewTrackers will work with InMoment
ReviewTrackers CEO Chris Campbell will be joining InMoment, along with his ReviewTrackers team.
Campbell sees combining forces with InMoment as the best way to leverage each company’s unique strengths. ReviewTrackers’ review management software will now be integrated with InMoment AI, the intelligence layer of InMoment’s XI platform that uses natural language processing, natural language understanding, and machine learning to give more life to unstructured data.
“We spent a lot of time last year talking with our customers and working on our strategic planning for the next several years. Through that process we heard from our enterprise customers that they wanted us to expand our survey and broader CX functionality,” Campbell says. “Precisely understanding and assessing how customer experiences are unfolding in the moment and ensuring customer facing organizations can act on this knowledge quickly remains an elusive but important challenge uniquely addressed by the combined company.”
As businesses compete for new customers and work to grow relationships with existing customers, the ability to manage customer relationships from the very beginning stages has become table stakes. Research shows that customer expectations are often established during the initial online research phase, and a key component of that has to do with online reviews and listings.
Campbell says the importance of reviews has only grown and matured over the past decade since ReviewTracker was launched, and consumers today rely on reviews more than ever to inform their buying decisions.
The sheer number of online reviews posted each day has exploded in the past few years, growing 40% to 80% higher during the core pandemic months when consumers working from home and making most purchases online. With inflation now rising, and retailers and consumer packaged goods companies raising prices to cover their costs, consumers are looking at online reviews even closer and basing more purchase decisions on cues from other consumers, rather than information coming directly from companies.
While ReviewTrackers has experienced significant growth in the past several years, Campbell says business customers today need more than they did a decade ago. Specifically, they need a technology platform that incorporates all forms of feedback to better understand the total customer experience.
“Reputation management has a profound impact on setting the stage for customer experience. It is where initial expectations for the experience are established. Properly managing and responding to online reviews demonstrates a commitment to customer-centricity,” Campbell says. “I believe that the strengths of the two companies together will enable us to execute on that vision.”
Stephanie Miles is a senior editor at Street Fight.
