In today’s retail climate, getting your product offering right first time can seem like a difficult task, especially with the vast competition that is already out there. From new product development to a simple packaging revision, ensuring your product has been launched out into your target market correctly is vital.
Research conducted by Nielsen in the 2018 ‘Setting the record straight on innovation failure’ report found that on average it takes approximately 7 repeat purchases for a consumer to become a truly loyal buyer. But without a strong product experience, brands won’t make it that far, which is why it is important to ensure you’re targeting the right market, with the right marketing functions (packaging, pricing, product offering etc.). The report also revealed that 47% of innovation professionals confessed that product testing tends to suffer most when speed to market is a priority. This is where implementing an A/B testing solutions can help.
Since the launch of Pilot in August 2018, Nielsen Brandbank has successfully completed over 40 A/B Testing trials for global brands including PZ Cussons, Treasury Wine Estates and Tata Global Beverages. Regular feedback from those invested noted the lack of filtering options available to truly segment their data. Building upon the success of Pilot, Nielsen Brandbank have now released a new filtering option, allowing users to segment their results by targeting specific consumer groups.
Not only can users apply the filters at the beginning of their test(s), but can also segment the data after completion, allowing them a more consultative approach to their NPD strategies. The new filtering option comes with 14 standard filters including gender and age and also includes filters such as dietary elements. Users can also request additional filters be added to their products to ensure they’re receiving the most accurate results in return. This new feature is an exciting step forward for the service, less than a year after launch, allowing accurate data to be recorded and distributed.
A recent trial conducted by Nielsen Brandbank looked at what kind of imagery worked best when online shopping for alcohol-based products. Testing an optimised image with a standard packshot image, over 500 consumers responded to the trial, with 82% choosing the former. After the test was completed, Nielsen Brandbank were able to apply the filtering options into the data and find out who, from the respondents, identified as alcohol consumers. With over 400 of the respondents stating they consumed an alcoholic beverage either weekly, daily or monthly, the results showed a slight increase, with up to 84% choosing the optimised image. Using the filtering options, alcohol brands are now able to record more accurate results for their product imagery, with the knowledge that the results came from those who are more likely to purchase their product(s).
Nielsen Brandbank’s A/B Testing Solutions allows consumers to be placed at the heart of the product development process, and with the introduction of the new filtering options, will add additional benefit to the service that will create more enriched data. With the help of Pilot, suppliers are able to make more valuable, informed decisions on products, helping to shape strategies and performance in the long term.