It’s hard for new products to stand out; new brands emerge in an endless stream while mature categories seldom surprise. Scanning for opportunity before launch is like looking for a needle in a haystack. Under these circumstances, how can we have a unique perspective and lock onto new opportunities in the rapidly iterating market? In the practice of exploring new product opportunities with a leading brand in snack categories, Illuminera has helped the brand successfully launch over 6 new trendy products within one year by means of an original new product opportunity recognition model and an integrated new product strategy map, bringing strongly positive business returns.
Three Challenges: Big Propositions, Messy Data, and Scattered Opportunities
The related categories of large snacks cover 22 major categories and 133 sub-categories, involving hundreds of millions of consumers and diverse consumption scenarios, making it almost impossible to gather comprehensive and profound insight. However, it is necessary to identify the differentiated needs of the target population from the multitude categories and combine multiple dimensions such as the basic profile of the population, purchase behavior and interest preferences to obtain insights into new products. The amount of data involved is even greater, with the data is extremely granular. In addition, the choice of brand opportunity is complex, which requires comprehensive consideration of the brand's existing product line and future planning, so as to guide the brand's internal R&D direction and explore the potential of new products. How could Illuminera aid the brand to overcome these three seemingly impossible challenges?
Data Empowerment Identifies "Market Pulse", Opportunity Recognition Model Selects New Products through Dimension Reduction
Combining the brand's long-term strategic goals, Illuminera started with big data and used a new product opportunity recognition model for major FMCG enterprises, selecting categories worthy of attention for in-depth investigation from the five dimensions of market power, growth potential, competitiveness, youthfulness and topic familiarity. Then, the team sorted out and formed the brand's crowd ‘matrix’, which covered a huge amount of food and beverage consumer groups. At the same time, Illuminera facilitated the brand to dig deeper into the logic and needs behind consumer groups’ product selection, identify opportunities, and combine the opportunities of the brand's current product line to discover openings in the market.
Data Combines with "Strategic Prescription", New Product Strategy Map Clears Launch Direction
Illuminera fully integrated the breadth of “big data” and the depth of “small data” to build a whole new product strategy map for the brand based on consumer insights, which not only sorted out the brand’s existing product line opportunities, but also clearly positioned main consumption scenarios and communication directions. Illuminera also assisted in constructing a long-term new product strategy map so that the brand could definitively grasp market opportunities and promote new products to launch in all areas and categories.
On the basis of the new product opportunity identification model and the strategy map empowered by data, Illuminera has successfully empowered two major new products from the brand, leveraging "self-disciplined light gourmet" and other consumer groups in the food and beverage industry to achieve efficient conversion and landing, which successfully aroused consumers’ purchase interest during the Brand Super Day. The interaction rate was 30% higher than the rest of the brand store. Illuminera not only helped brands achieve substantial business growth, but guided brands to start from the ground level and truly focus on consumers when examining and identifying product line opportunities to realize business transformations.
For more information about data empowered marketing, please contact the Illuminera big data team:
Alice He
E-mail: alice.he@illuminera.com
