How to maximize the success of a new product?
Today, brands face an increasingly changing consumer, influenced by market trends and the socio-economic context. This change in customer behavior makes it difficult to make decisions on marketing strategies, including the launch of new products. For this reason, it’s crucial to maintain continuous conversations with consumers and obtain real-time insights.
Want to know how to harness the power of data in real-time to maximize the success of your new products in unfamiliar markets? Read on to find out how you can minimize risk in your decision-making, reduce costs and maximize the success of your marketing campaigns.
The development of a new product requires a large investment, so having insights at each stage of innovation will allow you to ensure the success of its launch. Assessing your new proposal among the target audience allows you to maximize its potential and ensure its acceptance among consumers.
You can easily access customer data through different types of studies, such as the idea screening, the product naming test, the concept test or the claims testing. All these studies allow you to obtain actionable insights in real-time in an agile way for the optimization of your marketing actions and campaigns.
What does the word insight mean?
The term insight refers to the perception of a reality, i.e. the consumer’s perceptions, an opinion, a behavior or an expectation. Thus, an insight expresses a consumer need or desire.
Real-time analytics are very important for you to be able to orient your strategies and respond to the needs and desires of your consumers. In general, we differentiate between three types of insights:
- Emotional insights: they are part of the lifestyle and are the ones that allow the consumer to empathize with your product and brand.
- Symbolic insights: needs that revolve around the consumer’s personality traits, how the consumer wants to appear.
- Cultural insights: related to consumer behavior, behavior linked to their social environment (routines, environments, beliefs, etc.).
In order to connect with the consumer you must observe, analyze and understand them. To do this, you must identify what they want and/or desire, what their motivations and barriers are and, finally, what you can offer them to satisfy their needs.
All this information is available through market research, which allows you to obtain insights in real-time in a fast and agile way. Platforms like Zinklar offer you an easy way to have ongoing conversations with the consumer in order to make more informed and accurate decisions.
The importance of real-time insights
Real-time insights allow you to access high-quality consumer information quickly and efficiently, and without the need to be a research expert. Insights on how to:
- Optimize the product before launch.
- Ensure that the new product or service meets a need.
- Confirm its relevance and differentiation.
- Anticipate the competition.
- Maximize its potential in unknown markets.
- Segment your target audience
In this way, you will gain a competitive advantage since you will have key information about new markets, as well as unmet needs or desires among your buyer persona.
Why make decisions based on insights?
To enhance your brand you must make risky decisions that require significant investments. Therefore, it’s crucial that you have real-time insights that allow you to connect with consumers and respond to their needs and desires, thus ensuring the success of your brand.
Putting the voice of the consumer at the center of your decision-making allows you to enhance your brand and optimize your marketing actions and strategies. Thanks to platforms such as Zinklar, you can have ongoing conversations with your consumers and access valuable insights in an agile and decisive way.
Don’t let uncertainty prevent you from maximizing the return on your marketing investments. Discover how the voice of the consumer can help you make better decisions and maximize your brand.
Ready to work with real-time insights?