InnoCos Conference Chairman's opening speech: Listening to your consumer via social media...

expect great answers

InnoCos 2012: Day 2

Listen to your consumers

Sourabh Sharma | SKIM

@skimgroup

@sssourabh

#innocos

… and much more

Blog

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Photo

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Ideas

• Formspring

• Stumbleupon

3

4

Watch Listen Communicate

Choice modeling

Ethnography

Focus group

In depth interview

Product testing

Quantitative surveys

Qualitative interviews

.

Listen

Social Media Research

5

6

of people trust online peer recommendations 90% trust advertisements 14%

7

Listen

Monitor and

assess your

brand

Craft a

strategy based

on your

consumers

Monitor and assess your brand

8

10

11

“Is this ad

offensive to

anyone else

out there?”

The ad has to be

trashed. I’m not buying

a NIVEA product as

long as this terrible ad

is on the air.

Won’t be using Nivea

aftershave anymore.

Let’s see how they do

WITHOUT my UN-

CIVILED DOLLARS

12

August 18th:

Launch ad August 19th:

Nivea issues

apology

What does social media show us?

13

Power of an

apology?

Short

attention

span of

consumers?

Strong brand

activities by

marketing

team?

Strong

brand?

Craft a strategy based on

your consumers

14

15

Snickers

Hershey's

Butterfinger

KitKat

Twix

Toblerone

16

Size of Bubble: Volume of conversations

Sentiment: Continuum of negative to positive perceptions/sentiment

Passion: Conversations that are extreme

Inc

rea

sin

g P

as

sio

n

Increasing Positivity of Sentiment

20

25

30

35

40

45

50

55

Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug

17

Time

% P

osit

ive

Valentines

Halloween

Christmas

Hersheys Snickers Toblerone Twix Kitkat Butterfinger

Taste (Savor)

New

Looks Good (Sight)

Not too sweet

Sound

Price

Feels Good (Sensation)

Different

Scent

18

Functional elements

Inc

rea

sin

g i

mp

ort

an

ce

Increasing volume of conversation

Strength

Weakness

Neutral

No mentions

19

They talk

mostly on blogs

(US)

They purchase it

in grocery or

mass retailers

It is mainly

eaten by their

men or their

children

They eat it at home

on holidays and

other occasions

Their children

eat it in school

Young and middle

aged women talk

about

Go beyond social media listening… take action

20

Concept

generation

Campaign

effectiveness

Campaign

material

What

triggers

consumers?

Market

needs

Product

development

ideas

Uncover

ideas for the

next

innovation

21

Watch Listen Communicate

expect great answers

22

@skimgroup

@sssourabh

#innocos