3. Improve Product Offerings
A global insurance company launched a new health insurance offer in Southeast Asia. As this product was launched a little later than similar offerings from their competitors, the company needed to differentiate their product offering to encourage people to choose them.
The marketing team monitored online comments and complaints around competitors’ products before launching their offer. This gave them ample opportunity to differentiate themselves by creating a product that “filled the gaps” of unmet consumers’ needs. Results
Although the product was launched 11 months later than competitors’, the product became a market leader within 4 months of launch, with a 47% online share of voice.
4. Inform Product Launches
A global tech company wanted to push innovation by investing in new technologies, including augmented reality (AR) and virtual reality (VR) headsets, smart speakers, etc. Prior to launching their AR headsets in partnership with an upcoming blockbuster movie, the brand needed to develop a market entry strategy for this new product segment. To do so they launched a thorough exploration and understanding of the market.
Through social media listening, the company monitored public conversations around AR, and mapped and assessed existing competitors to estimate the main strengths and weaknesses of current products through their insights team.
By analyzing the market, trends, and consumer sentiments, the company were able to develop a state of the art report on consumer opinions, categorized by age and socio-economic characteristics to inform their market entry and communications strategy.
The brand were also able to avoid potential pitfalls and barriers for advertising the product’s launch, as well as promote key features favored by consumers on social media. The final product ranked as one of the best commercial successes for an AR headset.
- 2 million mentions garnered
- 40% growth in brand awareness in the AR and VR market
- An increase of more than 10% positive sentiment towards the brand.