TruRating named a “Cool Vendor” by Gartner

Sydney, 11 JUNE 2016: UK-based point-of-payment rating system, TruRating, has today announced it has been named a “Cool Vendor” based on the April 18, 2016 report titled, ‘Cool Vendors in Market Research, 2016’ by Nick Ingelbrecht, Amanda Sabia, Angela McIntyre, Anshul Gupta, Olive Huang, April 18, 2016 at Gartner, Inc.

Gartner’s report points out “The market research industry is evolving quickly with new technologies, new vendors and changing consumer behaviour. Offering innovative tools and approaches, these Cool Vendors can help marketing managers tap new sources of insight, reduce costs and get results faster”.

“It’s exciting to be included because we believe that it’s a great summary of why we exist. We’ve taken an existing technology, the payment terminal, and designed an application that sits on top. It’s affordable and very easy to adopt and roll out to outlets no matter how big or small. It makes consumer feedback, quick, anonymous and crucially genuine because we know a payment has been. TruRating is cool! We believe it has the potential to disrupt the ratings market and really challenge the status quo on how customers use ratings to compare brands.”

“We consider our inclusion in The Cool Vendor report by Gartner confirmation of our mission to transform how customers rate service, and how merchants measure satisfaction; we know it is a vital way for the retail and hospitality industries to improve loyalty and profitability.” 

The report also provides recommendations for marketers to take their strategies forward including the following:

• Ask people what they think and feel at the point of consumption, rather than relying on memory and recall. Mobile technology, graphics and gamification are providing increasingly useful tools for getting closer to "moments of truth" — that is, discovering what consumers think about a product or brand at the moment they use it.
  
  

• Incorporate a greater variety and volume of data sources into your market research initiatives. Developments in sensors and analytics mean that biodata, social data, contextual data and emotional data can be used to build a more holistic view of the customer.
  
  

• Think beyond traditional data-gathering methods to pull in market research data. To generate real-time contextual data, consider partnering with wearable and device manufacturers, mobile wallet providers, or payment terminal companies.

TruRating’s inclusion in the Gartner report follows the fintech company’s launch in the Australian market earlier in 2016, where the company announced it would make significant investment into the local market and expanding its footprint within the region.

END

TruRating is a consumer ratings startup which is changing the way people give feedback on the experience they have received in a shop, a restaurant, a bar or a hotel. It works by asking customers just one anonymous question that they rate on a scale of 0 to 9 on the EFTPOS machine. By gathering ratings when the customer pays, businesses receive an instant gauge of their performance and can make appropriate adjustments - for example: changing staffing patterns, or introducing better training or a different product selection. TruRating can also link customer sentiment to the amount paid; this helps to identify increased revenue opportunities that can be made from service, product range and offers.

TruRating has won numerous awards for its ground-breaking technology including the Ingenico Group’s “Global Application of the Year 2015”, Retail Future’s “Innovation of the Year 2015” and “Best Newcomer” at the 2016 Card and Payments Awards UK. 

For more information, visit www.trurating.com

Disclaimer:

Gartner does not endorse any vendor, product or service depicted in our research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.