SHOPPER SIMULATOR
Applications
70% of launches fail, yet internal targets hinge on winning with launches and millions of dollars are invested with limited confidence in the success of the launch. This capability is used in-between concept development and deployment of consumer & trade plans to the market.
How It Works
A concept is put into the Launch Simulation with up to four different launch scenarios. Each scenario is run through an identical simulation with different ways of bringing the launch to life AND with Shopper Design thinking included in each simulation. Brand Choice and Brand Equity metrics are measured in each simulation vs. a key competitor to isolate which elements drive the best metrics.
Deliverables
Consumer segmentation, Claims optimization, Retailer HQ Launch presentations with Simulation results, Shopper Design integration into Consumer, E-Comm, Retail plans. Agency & Functional Playbook hand-offs
Will your launch Win or Lose?
Why do so many new launches, despite significant planning and research, fail to deliver vs. objective? Because there is an important step overlooked by most Brands when launching new products.
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Having spent 20 years in Consumer-Packaged Goods, there was a commonly used stat that 70%-80% of all new launches will fail. For most businesses, new launches are the lifeblood to deliver overall business objectives. The cost of getting a launch wrong after it is in the market is high, which is why businesses invest so much money in qualifying and optimizing an initiative before launch. So, what is missing in most launch plans?
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At a macro level, there are three steps to launching with excellence and most Brands do Step 1 — testing the Consumer concept - very well. Answering questions such as: What is the launch's key benefit? Does the message resonate with our target? Does the launch differentiate my Brand vs. competition?
Increasing E-Comm Conversion with Shopper Psychology principles
The following article outlines how an e-comm brand applied Shopper Psychology principles to its site and increased sales by +147% while improving marketing spend efficiency by +183%.
There are two ways to maximize the number of individuals at the bottom of your e-comm funnel, where shoppers are converted to customers: 1) Widen the top of the funnel by engaging in sponsored ads and 2) Apply proven Shopper Psychology principles to maximize conversion of your site's traffic. Investing in sponsored ads is a very popular and well-known marketing strategy across various industries and has been proven to be one of the most effective ways of advertising online. Understanding how to apply Shopper Psychology principles, on the other hand, is an untapped and largely unknown opportunity. In fact, understanding such principles is a major opportunity for most businesses selling on e-comm platforms such as Amazon.
