A major personal care brand went through a relaunch of a leading product line. With such a major relaunch the big issue is always to track and analyze the consumers response with high enough granularity that allows quick and focused response to issues. Otherwise you just fall into the hype cycle.
Luckily, this brand leveraged Revuze for ongoing, automated and granular analysis of its market, and with this it was able to recognize a major disconnect between the brand and the consumers quickly enough to reposition the launch.
Methodology of analysis
With 90% of the world’s data created in the last 2 years the world data is growing at a scary pace…there are so many ways now for consumers to share data and information that brands can simply “listen” to online data to know where they stand and where their competitors stand as well.
Here the brand leveraged online consumer reviews from eCommerce sites and online retailers as a quick way to track the market and issues:
- Brand perception
- Product feedback
- Competing brands
- Competing products
With Revuze providing an all automated way to track these and report back a highly granular summary (Typically 40-80 discussion topics for all SKUs), the brand was able to gain quick visibility into opinions as well as track trends as data is updated on a regular basis.
Step 1 – Baseline and analyze
This is about knowing your market in details. You need to understand all of the following aspects to know to identify changes and trends once you are into your launch/relaunch.
Typical details include:
- Your audience – needs and wants, ideal product description…
- The competition – products, capabilities, what buyers like and don’t like about them…
- Key trends – what is hot, what is considered innovative
Step 2 – Identify and handle gaps
Once your baseline is ready and you understand the market, you need to analyze the gaps/issues. A typical launch involves a hype cycle where you will mostly get positive data back – great news coverage, great feedback form happy customers who just bought your product but have not used it for a long period of time, even feedback from promotions and incentivized reviews (see our research report – The pros and cons of incentivized reviews).
The problems will surface, there is no question about it. You will need to continue to monitor the feedback coming from the market for the early warning signs
Step 3 – Close gaps and repeat
Here the brand identified a major disconnect with its consumers that it was blind to before. Getting into a quick fix cycle was critical. Once the cycle is over, you need to repeat it all (Steps 1-3). It’s a never-ending cycle impacted by many factors so you always need to stay on top of your analytics. Understanding your buyers, competitors, trends will be the key to ongoing improvement.
Launching (or re-launching) a new consumer product is practically guaranteed to fail. In this specific case even a major personal care brands, after carefully preparing, still found a major disconnect in positioning with its customer base. Without the right system in place, they were left in the dark. Luckily new technologies such as Revuze can help prep and monitor a launch so you can ace it. The key is to be able to track your market closely and regularly at high granularity so that you can respond to points of failure/oversight quickly before they fail your launch completely. You will also need to make sure you don’t miss data sources as hints of failures can come from everywhere. The good news is that help is around, just reach out and ask for it