Uncovering:: Amplifying:: Prioritizing Predictive Ideas that WORK! - - PowerPoint PPT Presentation

Uncovering:: Amplifying:: Prioritizing Predictive Ideas that WORK!

Kimberly Marsh // Co-Founder, SVP // Email: kimberly@qualquantsignals.com // Phone: 201-665-6465

Presentation Flow

Today’s Agenda….

About Us: Why we exist! A brief introduction into our one study, hybrid Qual/Quant research approach Best practices discovered by QQS Present success stories driven by implementation of QQS best practices How QQS increases research rigor Q&A

About QualQuant Signals Who We Are…

Shortens Research Lifecycles Minimizes Innovation Risk Predictive Research Increase Research Rigor Quicker Turnaround Cost Effective

Designing A Complete Story Around Who, What, Why & How!

QualQuant Signals Portfolio of Testing

• Whitespace landscaping
• Idea Generation
• Concept Screening & Development
• Brand Awareness, Recall & Linkage
• Market Landscaping & Positioning
• Brand Satisfaction
• Promotions Testing
• Creative Testing
• Message Testing

New Product Development Brand Equity Communications

• Ideation & Innovation
• Concept, Product, Package Development
• Brand Extensions
• Website & Social Media Performance
• ROI Tracking
• Re-design or Optimization Insights
• Claims Testing
• Brand Naming
• Tagline Development

Consumer Co-Creation Digital Touchpoint Evaluation Go-To Market Planning

Hybrid Qual/Quant Applies to Many Areas of Research

5

QualQuant Signals Approach to Testing

A Research Approach Built on Best Practices

Hybrid Methodology- How It Works!

Hybrid Qual/Quant Diagnoses & Improves to Increase Marketing Power

Consumers express their ideas and review the opinions

• f the others; and can build upon pre-seeded ideas

populated by brand teams and/or other participants. Using an iterative process, the system retains the most promising ideas dynamically - the ideas are classified according to their algorithm score. The result: The patented QualQuant Signals algorithm amplifies statistically reliable ideas/insights and aims to prioritize where to spend time, resources and capital.

• 1. Qual Phase: Gathering Organic Expressions
• 2. Quant Phase: Peer 2 Peer Consensus
• 3. Prioritizing Action Steps with a Map

Contact Us to Learn More: Kimberly@qualquantsignals.com

Tricks for Increasing Research Rigor: Survey Flow

Diagnosing, Improving & Setting Up For Success The hybrid Qual/Quant questions probe deeper to identify….

• -Influencers --Turn Off’s --Improvements

Below is an illustration of the QQS screening, testing and improvement process. The highlighted areas are QQS patented differentiators that identify high market potential opportunities and set up initiatives for success.

Uncover Market Gaps (White Space) Before exposing the concept, QQS uncovers category frustrations/expectations & compares to KPI performance.

brandDelphi Patent # US7890362 B2

Screening/Profiling Category/Brand Landscaping Identify Whitespace Expose Stimulus Quant Evaluation QQS Hybrid Optimization

Hybrid Methodology-Survey Flow

8

Best Practices // Case Studies

Tips & Tricks to Enhance Market Potential

Characteristics Leading to High Success Rates

Identifying Characteristics of a High Market Potential Product

Minimize Innovation Risk : Maximize Market Acceptance Using Our Hybrid Qual/Quant Research

Has the ability to meet or exceed customer expectations Includes features they are ‘willing to pay more’ for Uses a language consumers easily understand Eliminates purchase barriers before market entry Describes product benefits in enough detail 1. 2. 3. 4. 5.

Characteristics Leading to High Success Rates

Identifying Characteristics of a High Market Potential Product

Minimize Innovation Risk : Maximize Market Acceptance Using Our Hybrid Qual/Quant Research

Has the ability to meet or exceed customer expectations Includes features they are ‘willing to pay more’ for Uses a language consumers easily understand Eliminates purchase barriers before market entry Describes product benefits in enough detail 1. 2. 3. 4. 5.

BP#1: Red Flag-- The Industry is Creating Products That Don’t Deliver

Whitespace Landscaping Dress Shirt Optimization Wrinkle Free (Avoid)

Stain Free/ Color Stay Size/Fit Breathable Material/ Better Fabric Flex Collar

Market Priorities

Focusing on wrinkle-free will only disappoint consumers if it can’t deliver on its promise, focus on other higher order influencers beyond wrinkle free.

Characteristics Leading to High Success Rates

Identifying Characteristics of a High Market Potential Product

Minimize Innovation Risk : Maximize Market Acceptance Using Our Hybrid Qual/Quant Research

Has the ability to meet or exceed customer expectations Includes features they are ‘willing to pay more’ for Uses a language consumers easily understand Eliminates purchase barriers before market entry Describes product benefits in enough detail 1. 2. 3. 4. 5.

Tested Feature/Message

Willing to Pay More Rank on Favoritism Increased Confidence

24/7 Critical Event Monitoring 24/7 Access to Nurse Help Line 24/7 Daily Activity Tracking Professional Installation of Hardware On Demand Caregiver Services Abiilty to See/Talk to People @ Door Anomaly Detection Ability to Control Garage Door Remote Control Lights Mobile App to Track Daily Activities

Strong Performance Weak Performance

BP#2: Purchase Intent Isn’t Always Enough… Finding the Sweet Spot = More Wallet Share + Strong Positioning

Wallet share is driven by ‘Quick Access to Help’ through 24/7 monitoring.

Concept & RTB Testing

Characteristics Leading to High Success Rates

Identifying Characteristics of a High Market Potential Product

Minimize Innovation Risk : Maximize Market Acceptance Using Our Hybrid Qual/Quant Research

Has the ability to meet or exceed customer expectations Includes features they are ‘willing to pay more’ for Uses a language consumers easily understand Eliminates purchase barriers before market entry Describes product benefits in enough detail 1. 2. 3. 4. 5.

BP#3: Text Highlighter Tool Identifies Tips for How to Effectively Communicate

Message/Feature Testing A car is broken into every 15 seconds and stolen every 43 seconds. Since most households park at least one car outside it doesn’t enjoy the same protection from their home security system as their home. Today, protection is primarily limited to traditional car alarms which are only effective if the homeowner is within earshot and able to hear it. This is the only service that connects your car to your smart home and security system.

Features include:

• Smart home integration – Your smart home can turn on lights or record video from outdoor cameras

when someone disturbs your vehicle.

• One app covers your home and your car – The mobile app allows you to control your smart home,

track your vehicle and get notifications if either is threatened..

• Tamper alerts – No matter where you’re parked, if your car is being stolen, towed or just bumped,

you get an immediate notification allowing you to take immediate action.

• Location tracking – Using the in-app map, you can track the location of family members or a car that

has been towed or stolen.

• Geofences – Set boundaries around important places like your home, office or kids’ school and get a

notification on your mobile device when your car crosses them.

• Extreme driving – Track hard stops, rapid accelerations and excessive idling.

Most /Least Influential Communication Communication Tips & Learnings

• Quantify messages when possible (4X the

quality).

• Vague ‘comparison’ adjectives (smarter,

better, best, easier) are less believable, anchor them into a reference point.

• Use experiential messaging (real, lifelike,

don’t miss out).

• Be careful with using acronyms, must

explain within the context of copy.

• Conceptual language is too dramatic

(Magic Remote, Hollywood-like, Theatrical Palette).

Characteristics Leading to High Success Rates

Identifying Characteristics of a High Market Potential Product

Minimize Innovation Risk : Maximize Market Acceptance Using Our Hybrid Qual/Quant Research

Has the ability to meet or exceed customer expectations Includes features they are ‘willing to pay more’ for Uses a language consumers easily understand Eliminates purchase barriers before market entry Describes product benefits in enough detail 1. 2. 3. 4. 5.

BP#4: Hybrid Optimizations Remove Barriers to Entry, Validated by BASES

Concept Development

• F

BASES Factors for Success

BASES Results Before QQS Testing

• City Inspired Flavors presents a significant risk.
• Shows difficulty connecting with needs or offering a competitive

benefit.

• The primary limiters of interest are flavors, ingredients and

packaging.

BASES Results After QQS Testing

• Cost per CPS increases dramatically.
• Predicted volume share within pilot market doubled expected

results.

• BASES re-test results show a purchase intent increase of +21pts;

fully market ready.

Flavor Generation Package Design Testing Concept Testing

TOP 15 FREQUENCY COUNT Orange 18 Strawberry 12 Lime 12 Coconut 11 Grape 11 Mango 9 Cherry 9 Watermelon 8 Pineapple 8 Blueberry 8 Citrus 8 Pomegranate 7 Lemon 7 Cactus 6 Melon 6

Hybrid Qual/Quant Generates a new Flavor that Exceeds Predicted Volume Share…Traditional Open-End Verbatim Can Mislead Insights

Collected 127 Flavors

Marketing Power of Hybrid Qual/Quant

Concept Development

Characteristics Leading to High Success Rates

Identifying Characteristics of a High Market Potential Product

Minimize Innovation Risk : Maximize Market Acceptance Using Our Hybrid Qual/Quant Research

Has the ability to meet or exceed customer expectations Includes features they are ‘willing to pay more’ for Uses a language consumers easily understand Eliminates purchase barriers before market entry Describes product benefits in enough detail 1. 2. 3. 4. 5.

Package Testing

BP #5: +15% Change in Intent With New Product Benefit Communication

Product Features/ Benefits

62%

“I’m unsure of where the product benefits are located.”

Visuals / Pictures

37%

“Package needs some active and happy looking cats.”

Font type/size

20%

“Colors are so bright and font is too small.”

Color Combination

38%

“Hard to read, use lighter background with darker font!”

Cat’s Pride Logo

19%

“Logo is so boring, add cats and some shape to it.”

Design Ratings: Needed Improvements After- Optimized Design

Before After

Purchase Intent

21% 36%

Product Features/ Benefits

62% 21%

Visuals / Pictures

37% 17%

Font type/size

20% 15%

Color Combination

38% 27%

Cat’s Pride Logo

19% 15%

Before Design

21

Closing Statement

Why Research Tips, Tricks & Best Practices Work

Tips Learned from QQS Testing… Testing can be designed as more than just an evaluation!

Reveal more than performance; uncover do’s/dont’s, communication strategies and overall market entry points, all in one study.

Identify elements of the product that are purchase “influencers” Investigate product barriers & turn-off’s to adoption Dichotomize…’Nice to Have’ vs. ‘Need to Have’ Observe Patterns in both good & bad performance Before concept exposure, identify whitespace opportunities.

This is the most critical best practice because it ensures the product concept aligns with and tackles existing market frustrations or unmet needs. Comparing whitespace findings to the concept; teases out key elements for improvement or positioning; increasing marketing viability. Asking about the influencing elements of the concept identifies the features that will influence market decisions. Time and time again, this approach uncovers clear signals that can be used to guide the communication and packaging strategy ---delivering more than just concept testing results! While many surveys often investigate likes and dislikes, it is more insightful to fully understand the perceptions from a buying process POV– why are certain tradeoff’s made? Barriers uncovered feed into the optimization process and are used to turn concept performance around but also to isolate which concepts are truly a failure. To prioritize the product benefits and features that truly matter, use a dichotomized approach to set concept priorities. Beyond optimizing the overall concept, this information gives development direction for package design, market and communication strategies. Often times, we see the bottom performers quickly discarded and not given a thought but QualQuant Signals often finds a hidden list of ‘Do and Don’t’ for our clients’ to swear by. To increase the chance for a product to have stronger reach and quicker adoption, isolate the concept’s design, product features and package style into high and low market potential buckets; then observe commonalities within those buckets.

Why QualQuant Concept Excellence WORKS!

With shrinking timelines, shrinking teams and shrinking budgets, we made it our mission to…

Shorten Research & Innovation Lifecycles

• Provides directed action & priorities by

leveraging qual expressions and immediately quantifying them

• Faster & less expensive process because

qual and quant research is combined into one session

• Insights/Concepts are validated &

refined simultaneously

More Powerful Results, Quantified Qual Insights

• Ability to collaborate with hundreds of

individuals building consensus based insights (Removing group think)

• Teases out the power of and magnitude
• f expressions within the same session,

ensuring the most impactful results rise to the top

• Investigates across the category and

brand the unmet needs that will deliver

• n consumer expectations

Reduce Type 1 & 2 Error, A Better Quality of Ideas

▪ Algorithm organizes insights into areas

• f uniqueness and differentiating

market opportunities

• Reduces type 1 and type 2 error:

Minimizes the chance of choosing the wrong idea

• Simulates real world selection

process/environment providing most predictive behaviors among the majority as well as smaller key segments

QualQuant Signals Research Benefits

The Power Point Report Deliverables

The QQS insights mission is to provide clear cut direction, action points and priorities for clients to move forward with.

Your QualQuant Signals Team

Connect anytime with any questions or require more information…

Hemen Patel Tel: 201-665-6465 hemenpatel@qualquantsignals.com Kimberly Marsh Tel: 201-665-6465 kimberly@qualquantsignals.com

Thank You!