SKIM Webinar "How to overcome Inertia"

How to overcome Inertia

SKIM Webinar | January 26, 2012

Robin de Rooij

Senior Project Manager

Telecom, Finance & Durables

Margreet Hanemaaijer

Today’s webinar host

What prevents them from acting?

My product is great. Why don’t people buy it?

Overcoming inertia is about a balancing act

• Triggers

• Aspects of the product and

its use that cause people to

be excited about it and

cause them to act

• Barriers

• Doubts or concerns that

people may have about the

product and stops them

from acting

To help overcome inertia, we work with different types of communication

• Motivate consumers to purchase

the product

• Represent new news

• E.g., claims expressing the true

promise

• Help consumers to overcome

barriers and doubts

• E.g., endorsement claims, claims

of no side effects or adverse

effects

True motivators Reassurances

To capture such trade-offs in market research, an interview procedure mimics a conversation between the brand and the consumer

SKIM Webinar | January 26, 2012 | “How to overcome Inertia” | Robin de Rooij

Space View example

http://youtu.be/V_3iMXKfF00

Interest

Benefits

Doubts

Reassurances

Is the consumer interested in the product concept?

Are the communicated benefits compelling and relevant?

What are the doubts preventing the consumer from acting, if any?

Are reassurances powerful enough to overcome the doubts of the individual?

Step by step, we learn more about why a consumer wants a product or not And a consumer will only buy if all requirements are met

Is price a barrier to the consumer, what is a consumer’s reference point?

At every intersection, a product can fail to convince

Interested?

Like the benefits?

Overcome the doubts?

Willing to pay the price?

Not reached

Based on this insight, SKIM has developed the integrated Triggers & Barriers approach

In Triggers & Barriers, we use an integrated approach to maximize the Reach of a product

Performing a Triggers & Barriers study

• Performing a study requires a good understanding of the market

• What are relevant triggers?

• What are relevant barriers?

• How can these be addressed?

• This is an integrated solution to understand reach. So if one part is not

accurate enough, overall results will suffer

• In case you are unsure what the main Triggers & Barriers are in the market

you are operating in, we recommend performing qualitative research first to

obtain this understanding

Back to the Space View Example

Interest

Benefits

Reassurances

Persuaded

For prospects to be persuaded, all criteria must be met

Concept exposure

Positive triggers, e.g., adventurous, unique

Reassurances, e.g., certified safety, no harmful side-effects

Willingness to pay € 70,000

Persuaded or not

Mr. A Mrs. B Mr. C

What do you think?

• Which of the following Triggers would motivate you

most to buy a ticket for Space View?

• Which of the following Barriers would stop you from

buying a ticket for Space View?

For each barrier, we have one or more predefined reassurances

• Safety – Crashing

• Safety - Health problems

• Physical Discomfort

• Limited visibility

• Safer than most airlines due to proven NASA

technology and safety standards

• Weightlessness does not cause

health problems unless exposed for

extended period of time (months)

• Launch and landing are no more

uncomfortable than a roller coaster ride

• 33% of earth surface covered in clouds, but

you will always have a magnificent view

Barriers Reassurances

To what extent can the proposed reassurances take away barriers and why?

Limited visibility

Physical Discomfort

Safety - Health problems

Safety - Crashing

DefinitelyProbablyMay or may notProbably notDefinitely not

In many cases, the absence of brand can also be considered a doubt

• I’m afraid the product or

service is offered by an

untrustworthy brand

• If the product or service is

offered by …, I will trust it

• This could be multiple or NO

brands.

Barrier Reassurance

55% 35% 20%

Do not trust unless NASA KLM KLM - NASA

With an integrated approach, we put it all into perspective

• Strength of Triggers & Barriers

• Reassuring/ addressing these barriers

• Added value of multiple communication messages

This allows us to understand the total Reach based on a communication strategy

Message 1 Message 2 Message 3 Total Reach

Benefit 1 Reassurance 1 Reassurance 2 64%

Benefit 1 Reassurance 1 45%

Benefit 1 12%

• Some people do not have strong doubts or barriers, they can be reached by just focusing

communication on a relevant benefit, but this is generally a small group

• Most consumers have strong doubts and need to be reassured, multiple reassurances

allows the brand to reach more consumers

1 2 3 4 5 6 7

Total Reachbased onTriggers &Barriers

TURF analysis allows us to discover an optimal number of messages to communicate This does not yet take into account limited amount of space for communication

Number of messages

communicated

Finally, we measure purchase likelihood at a number of price levels

€ 50,000 € 70,000 € 90,000 € 110,000

€ 10

€ 15

€ 20

€ 25

€ 30

€ 35

Purchase Likelihood (%) Revenue

Purchase

likelihood

Revenue

measure mln

So in the end we can…

• Help you to overcome inertia and successfully launch your product by

identifying a balanced mix of messages that maximizes action.

• Optimize Reach and Revenues, identifying the best combination of

communication and pricing to target those willing to pay

• Strategies can be targeted to those most likely to take action, because

overcoming barriers is harder for some people than for others

How inert are your customers? And Why?

Robin de Rooij

r.derooij@skimgroup.com

+31 10 282 3525

Margreet Hanemaaijer

m.hanemaaijer@skimgroup.com

+31 10 282 3514

Go to www.skimgroup.com/webinar-inertia

for today’s presentation slides and more!

Find out about our next webinar at skimgroup.com/join-our-marketing-webinars.

SKIM Webinar "How to overcome Inertia"

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