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A Deeper Dive on Digital Segmentation and Activation – Q&A with Carl Edstrom and Paul Lainis

Thursday, March 22nd, 2012

At the end of January, we announced DigitaLink, a new digital segmentation solution that leverages SymphonyIRI’s Consumer Network Panel, MarketPulse research and analytic capabilities to provide new insights into how quickly consumers are embracing digital media and what digital devices and platforms they are using. We identified which demographic groups are most interested in near-term engagement, and what strategies to utilize to best engage these audiences.

We then hosted a webinar in February to introduce the five unique segments of the market that exhibit different attitudes about usage of digital devices and media: Show Me the Money, Digitize Me!, Technophobes, Socializers, and Wired for Work. During the webinar, Carl and Paul explained how CPG and retail marketers can assess the purchase patterns for each of these segments to effectively ramp-up their sales and marketing efforts with passionate online consumers.

As a result of this webinar, we received questions about digital segmentation and activation. We’ve captured answers to these questions in the below videos featuring Carl Edstrom, principal, Survey Solutions at SymphonyIRI; and Paul Lainis, executive, Consumer and Shopper Marketing at SymphonyIRI.

Carl addresses the following questions:

Which segments do you see growing and declining in the future?
How long do we think this segmentation will be viable? When do you plan to repeat it?
Do smaller niche brands have enough panel transactions to accurately project the digital shopper breakouts?
Can the DigitaLink segmentation be combined with our proprietary segmentation?

Paul provides insights for the following questions:

The need to align shopper marketing and sales seems clear. What is the connection between shopper marketing and media?
We have a proprietary segmentation. Does this shopper marketing platform only accept your segmentations?
How does a manufacturer use this with a retailer? You cannot have a plan-o-gram for every store.
Wouldn’t a company spend more on advertising if they tried to speak separately to all of these segments? Isn’t that the point of mass advertising?

A replay of the webinar can be accessed at: http://www.symphonyiri.com/Insights/ArticleDetails/tabid/146/ItemID/1426/View/Details/Default.aspx

Tags: Carl Edstrom, cpg, DigitaLink, manufacturer, MarketPulse, online consumers, Phil Lainis, retailer, Segmentation, SymphonyIRI Consumer Network Panel
Posted in Digital Media | No Comments »

A Deeper Dive on EconoLink – Q&A with Larry Levin

Thursday, January 19th, 2012

At the end of 2011, we shared findings from our new segmentation solution for CPG and retailer marketers, EconoLink™. EconoLink categorizes shoppers into six unique segments based on their outlook, behavior and personal financial attitudes.

In the December 2011 webinar, we presented detailed insights on how different shopper segments are thinking about and planning their purchase decisions, and how marketers, in turn, must understand which shopper segments are buying their products, and how their core segments behave during challenging economic times.

There was a lot of interest in this topic, and we want to address some of these questions. The video above features Larry Levin, executive vice president and general manager of Consumer Insights, who addresses the following topics, related to EconoLink:

The dynamic that seems to exist where “Savvy Shoppers” make the most money, but also buy most on deal
Why the “Downtrodden” and “Cautious and Worried” segments are spending more on deal
Aisles the “Downtrodden” are avoiding
Recommendations for retailers and manufacturers
2012 trends

Tags: cpg, CPG trends, deal, EconoLink, Larry Levin, manufacturers, Marketing, Retail Solutions, Shoppers
Posted in EconoLink | No Comments »

Let’s Talk More About Innovation

Monday, December 5th, 2011

Thanks for the comments and viewpoints generated by my first post on innovation.

While change comes in many forms, we’ve identified five types of change that we believe spark innovation more often than others. These include:

Societal change – as cultural norms shift, shoppers’ needs also evolve, creating an outstanding innovation opportunity. The ongoing innovation in better-tasting and higher-quality prepared foods reflects the growing number of two-income households in America, for example.

Mass movements – the widespread growth in consumer interest for a particular cause often drives new innovation. The explosion of sustainable products to combat global warming, burgeoning landfills and depleted oil stocks has sparked significant new innovation

Economic conditions – As the recent recession brutally illustrates, economic conditions are a powerful driver of innovation. The continued and growing popularity of private label products is perhaps the strongest example of economics-driven innovation.

Demographics – The ongoing shift in the age, ethnic composition, geographic location and work patterns of shoppers drives innovation. Consider cans with easy-to-open lids, catering to an older population more likely to suffer from arthritis.

Scientific advances – Advances in technology enable new forms of innovation. Breakthroughs in packaging materials have given us microwavable trays and single material packaging.

Often two or more of these conditions occur simultaneously to push innovation even faster. For example, mass interest in environmentally-benign packaging and scientific advances has resulted in the much wider availability of recycled boxes, cans, pouches and bottles.

As you are thinking about innovation, I’ve observed several ingredients that are part of every innovative company:

Ensure the R&D team is focusing efforts on fulfilling your organization’s long-term vision and mission, as well as its short-term tactical plans
Confirm that your organizational structure supports and nourishes innovation by removing hierarchies wherever possible and encouraging direct communication among internal and external resources for everything from product ideation to packaging
Develop cross-functional teams that include every discipline that will “touch” a new product
Think big. Innovative companies are not built on line extensions

I know many of you will have thoughts and I look forward to reading and sharing these.

Tags: brand, cpg, halo effect, innovation, John McIndoe, manufacturer, Marketing, product management, Retail Solutions
Posted in Innovation | 1 Comment »

So, your brand’s on Facebook. Now what?

Monday, November 28th, 2011

With the increasing presence of social media and online promotions, marketing budgets are seeing a transfer of funds from traditional to digital. However, it is important for these funds to be spent strategically. Analytics can now help measure the impact of online marketing efforts to ensure marketing dollars are not being wasted.

Detailing this subject, our very own Phil Ripperger, vice president of New Media Solutions for SymphonyIRI, will be co-hosting “The Roadmap from Social Listening to Integrated Social Intelligence” webinar with Elizabeth Morgan, Visible Technology’s SVP of Business Development and Zach Hofer-Shall, Forrester Research analyst.

Elizabeth Morgan notes, “With today’s social commerce boom it’s even more critical to help businesses monitor and analyze the success of their social media efforts. During the webinar, I’ll discuss how businesses can use social media in conjunction with CRM efforts to ultimately add to their bottom line.”

As most companies which have employed social media strategies can attest, going beyond a collection of “likes” or followers is key, but can be complicated. A follower base is important, but how many actually act on their “like” and purchase your product? A high number of followers can reflect a positive brand perception, but for sales, the old adage “quality over quantity” rings true.

To address this challenge, SymphonyIRI’s New Media Solutions group identifies select “high opportunity” customers and their profiles, so retailers and manufacturers can connect with them on a more personal level and activate a sale. This is done by engaging customers in one-on-one dialogue and tailoring content that speaks to shoppers’ specific strategies, behaviors and needs.

Phil Ripperger adds, “SymphonyIRI works with media partners to build and optimize digital campaigns for CPG marketers. We then analyze data results from ‘test’ and ‘control’ groups to show the campaign’s impact on sales and its effect on competitors. The impact of buzz, whether positive or negative, can now be quantified, and used to measure campaign success or failure.”

Please sign up to join us on Thursday Dec. 1 at 12:30 p.m. CT for “The Roadmap from Social Listening to Integrated Social Intelligence” webinar.

Tags: cpg, CRM, Digital Media, Elizabeth Morgan, Facebook, Forrester Research, Groupon, John McIndoe, LivingSocial, manufacturers, New Media Solutions, Phil Ripperger, Retailers, social commerce, Social Media, Twitter, Visible Technology, Woot!, Zach Hofer-Shall
Posted in Digital Media | 3 Comments »

Igniting Innovation

Wednesday, November 16th, 2011

Everyday, we have conversations with our clients about innovation. Everyone wants to be innovative, but what exactly is an innovative product or solution? How does innovation translate to the less-sexy, but critical question of sales and market share uplift? How do product managers include innovation into the value proposition? These are just a few of the dozens of innovation-related questions we hear.

I would like to start an ongoing dialogue about innovation and invite you to participate.

We discuss the definition of innovation quite a bit, and it seems that every person we ask has a unique view. However, three attributes that seem to consistently be part of innovation include:

Innovation creates a new value proposition that addresses a specific need
Innovation differentiates a product from its competitive set
Innovation includes solutions not previously introduced to a market

One analogy that I’ve liked is thinking of innovation as essential to a brand the way oxygen is essential to fire. Successful innovation ignites a brand, while unsuccessful innovation can extinguish it. Also, successful innovation can create a halo effect that can generate new interest in other brands within a portfolio.

While every company handles innovation differently, I’ve seen a few common steps that act as useful starting points.

Ask and answer a series of basic but critical questions: What are we trying to accomplish? Are we trying to develop new products or services? Create a value product from a premium one? Grow into new geographies?
And then ask some more questions: Will our new idea attract new customers? Will it take cost out of our product? Will it change dynamics of the category?
Once you have answered these and other questions, identify an approach to quickly test/validate the idea, such as creating a fast prototype to quickly determine if an idea is viable, accomplishes our goals and successfully answers the questions posed.

How do you handle innovation? Thank you for your interest and I look forward to hearing from you.

Tags: brand, cpg, halo effect, innovation, manufacturer, Marketing, product management, Retail Solutions
Posted in Innovation | 3 Comments »

Consumers Still Feel Wary of Economic Future Heading Into the Holidays

Tuesday, October 25th, 2011

We’ve had a busy week here at SymphonyIRI with the release of our Holiday Shopping 2011 survey results and Point of View, “Gray Skies: Consumers with negative views of government’s handling of the economy have hunkered down and reined in spending—for the long haul.” Both uncovered similar trends and while it is no surprise consumers are still feeling wary about the economic future, attitude toward spending is directly reflected upon their shopping behavior.

The Holiday Shopping 2011 survey that looked at shopping attitudes of 2,000 consumers (a nationally representative sample) found that this holiday season 81 percent will be turning to the Internet for the best deals and shopping online this year. While consumers expressed a desire to have a holiday season consistent with those experienced prior to the economic downturn, they are being extra conscious about exactly how and what they are spending their money on this year. A few examples of money saving strategies during the holiday season include:

79 percent of consumers will be making their grocery purchase decisions before entering the store
26 percent plan to spend less on holiday gifts with most budgets (74 percent) topping out at $800 for gifts
48 percent of consumers will take advantage more often of promotions learned online versus 50 percent, who will leverage online promotions with the same frequency as last year

While the holiday survey took a thorough look at holiday spending trends, many similarities with regard to shopper outlook was uncovered in the ”Gray Skies” Point of View that indicated 82 percent of shopper behavior is being impacted by negative feelings towards government spending, resulting in uncertainty that will undoubtedly impact holiday budgets.

This tightening of the belts has caused consumers to continue being creative with their saving and spending habits. And, thanks to the Internet and new technology, efforts to save money often are quick and easy, even literally at consumers’ fingertips on smartphones and other devices.

Between the Holiday Shopping 2011 research and the “Gray Skies” Point of View, it’s clear that the common and familiar theme among consumers of being conscious of personal finances, planning for the future and getting creative with savings and purchase decisions is here to stay. As the uncertainty of the economic future remains, it’s clear that the mindful spending habits of consumers will also continue creating an opportunity for manufacturers and retailers to capitalize on money saving promotions, strategies and programs.

Tags: budget, cpg, economy, Frugal, gifts, grocery, Holiday Shopping, online shopping, personal finance, Retail Solutions, sales, shopping behavior
Posted in Economy | 2 Comments »

Times & Trends: Private Label

Thursday, October 20th, 2011

Brand Positioning in the New World Order

It was once considered embarrassing to be seen with a private label product, but today nearly all shoppers buy private label products stigma free. Private label products bring to market an important alternative to national brands. In a time where consumers are still reluctant to open their wallets, private label products are no longer simply similar to national brands at a lower price point, but often offer their own unique value propositions. Private label has become an important strategic component to help shoppers get through difficult times.

Many retailers have successfully leveraged private label to enhance banner loyalty in an era of increased channel shifting. They have launched products at different price and quality points, developed attractive packaging and created aggressive merchandising and promotion strategies. Marketers at national brands haven’t sat on their hands. They have developed innovative strategies to co-exist with private label brands and highlighted the unique attributes of their offerings.

Last week’s webinar, based on SymphonyIRI Group’s latest Times & Trends report, explored current and emerging trends around private label, as well as national brand efforts to protect and grow their position in the CPG marketplace.

Additionally, the webinar discussed:

The latest private label channel, category, and price-related trends and how those translate into new opportunities.
A new understanding of shifting consumer attitudes and behaviors across key departments/categories and the drivers of those behaviors.
How to effectively identify and deliver against critical shopper needs to win share of wallet and shopper loyalty.

It’s not too late to watch the webinar, visit our online webinar archives.

Tags: Private Label
Posted in Private Label | No Comments »

Track B All-Stars

Monday, February 28th, 2011

To kick off our Summit exploration of innovation, Mark Smith, CEO and EVP of research for Ventana Research, and Steve Steutermann, director of research and consumer products for Gartner, will both be joining us in our starting line-up for our breakout session under Track B: Innovation—The Cornerstone to Business Growth.

Mark Smith will be hosting a session which will help you choose the best analytics for your business, allowing you to tackle the competition, as you save time, reduce costs, and decrease risks. Attending his session will keep you from running all the wrong plays on bad information.

Steve Steutermann will call our attention to the downstream data that will change our perspective from marketing-driven to a “market-driven” organization in today’s consumer environment. He understands that how the shopper behaves at the shelf, with the capability to target and reach that shopper, is where the game will be won.

Don’t just sit on the benches this year. Come train with the pros at Summit 2011.

Tags: analytics, cpg, downstream data, Gartner, innovation, Summit, SymphonyIRI, Ventana Research
Posted in Summit | No Comments »

Track A All-Stars

Friday, February 25th, 2011

This year at Summit, we have a team of all-stars joining us to lead exciting discussions and share some of their expertise with you during our breakout sessions. Here’s what you’ll find under Track A: Future Marketing—Digital and Mobile:

Steve Frenda, managing director of the In-Store Marketing Institute, will kick things off in Track A, with a session that will give us an overview of the current digital media landscape. Steve is a recognized authority on the topic of re-structuring the interaction between manufacturers, merchants, service providers and shoppers, focusing on the shift toward utilizing information and technology as the centerpiece of those rapidly changing relationships.

Gian Fulgoni, executive chairman and co-founder of comScore, will follow up in a session that will provide an overview of the state of the digital marketing and e-commerce landscape as it pertains to the CPG industry, highlighting key trends, advertising effectiveness insights and opportunities for future growth.

Ashley Grace, vice president of business development at comScore ARS and an expert consultant in the development and optimization of ROI generating marketing campaigns, will also be presenting at Summit this year. Ashley will answer questions about the benefits of digital-copy testing, and share comScore’s latest results from digital copy tests across a variety of CPG brands during his session.

Target.com’s marketing lead, Jen Alcott, and RichRelevance’s CEO, David Selinger, will be discussing a case study in which Target engaged Shopping Media, and as a result, introduced a new channel for brand marketers to engage online.

Catherine Roe, head of CPG at Google, will lead a session which will demonstrate how best-in-class companies have leveraged strong manufacturer, retail and media integration to drive sales and retail partnerships. She will also present a case study on how search and display advertising has been proven to drive sales and ROI for a CPG company.

Kevin Coupe, the “content guy” for MorningNewsBeat.com, Rich Tarrant, CEO and founder of MyWebGrocer, and Tom Furphy formerly of Amazon, will wrap up Track A with a panel discussion about the future of e-grocery business.

Come hear what these experts have to say about the future of digital marketing as it relates to the CPG industry. Missing out could mean the difference between being lapped by your competition or knocking your next campaign out of the park.

Tags: Amazon, comScore, cpg, Digital Marketing, e-commerce, e-grocery, Google, In-Store Marketing Institute, MorningNewsBeat.com, MyWebGrocer, RichRelevence, Summit, SymphonyIRI, Target.com
Posted in Summit | No Comments »

Industry Insights

Thursday, February 24th, 2011

In Track F: Latest Innovation and Solutions from SymphonyIRI Group, we want to share our latest innovations and solutions. Our goal is to create insight-driven solutions that complement the sales person’s knowledge and help build stronger retail trading relationships.

In working towards positive solutions for the industry, we have noted a major shift toward the mobile market. To meet this market demand, we are currently working on our SymphonyIRI Liquid Data mobile application prototype. This shift creates an opportunity to open discussion, invite feedback and enhance existing mobile platforms.

Additionally, we are becoming more aware of repeat shoppers’ needs. In this session, SymphonyIRI’s Shopper Marketing Analytical Services Group will reveal its latest technology on attracting those shoppers back into the store based on the products and/or services they are most likely to purchase.

Today, companies are looking to establish their own niche. Regional brands are looking to obtain wide-spread success by becoming national brands. SymphonyIRI will also present Market Advantage, a tool that will help brands achieve that goal. We will present a case study of one company’s success in obtaining drastic brand recognition on a much larger scale.

Mark Peiser, vice president of Marketing Research for News America Marketing, will join us to address the challenging question: How do you measure the media value of in-store marketing? While measuring this type of ad-value has long been a frustrating task, News America Marketing, Kantar and SymphonyIRI partnered to create a new tool that will help quantify the success of marketing initiatives.

Rounding out our final session, EmSense and SymphonyIRI will present their new technology that allows you to get into the mind of a shopper. You’ll be able to answer key questions, including what drives a shopping to select a certain item, or what motivates a shopper to choose a certain brand?

We are excited to share our latest innovations and solutions with Summit attendees, and we hope these tools and tactics will help each company strengthen its presence nationwide.

Visit www.sigsummit.com for more information and to register. Don’t forget to follow us on twitter at (@SymphIRI and #SIGSummit) for continued updates and information. See you in Miami Beach!

Tags: cpg, Market Advantage, Marketing, merchandising, pricing, Retail Solutions, shopper attitudes, shopper behavior, Shopper Marketing Analytical Services Group, shopping trends, Summit, SymphonyIRI, SymphonyIRI Liquid Data
Posted in Summit | No Comments »

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