Innovation and the key pillars of moment led growth
An increasing number of companies, especially in FMCG, have re-structured their marketing approach around the pursuit of higher penetration. In a diverse and fragmented consumer repertoire, brands must expand their reach across as many moments as they can. A moment could be a time of day, an occasion, a latent need, a situation or a feeling. It could be a combination of all these things.
Kantar TNS’s offer for innovations is structured around three key pillars of moment led growth – Identify, Optimise and Activate.
Successful innovation identifies moments where there is an untapped need for a product or service, rather than just focusing on trial or attractive ideas. Making a decision based on just trial alone will not guarantee success in the market.
Our innovation framework is based on individual-level modelling to identify the degree to which a concept is incremental to existing business. Cannibalisation projections using micro-modelling are twice as accurate as competitive approaches based on aggregated analysis that treats all respondents as equal.
Even when these essential incrementality and cannibalisation components are right in place, one must plan for the increasingly fragmented and complex marketing environment:
- Power lies more and more with consumers
- There are more choices, products and services
- Multiple touch points for consumers to interact with products and services
- New media and increasing influence of word of mouth
- Marketing budgets spread more thinly across bigger brand portfolios
- More targeted marketing approaches
Understanding the context in which people buy and use products and services is crucial to their design, brand positioning and success. These, in-the-moment states of mind, must be factored into go-to-market strategies.
Our sales forecasting modelling is also based on individual probabilities and helps inform successful product launches by factoring in more precisely the impact of advertising, in-store environment, word of mouth and promotions.
We believe getting new products to the right people at the right time is fundamental to the success of your launch. We’re able to help you to target precisely consumers who are most open to your products in the moments that matter.
Using TNS Mind, our comprehensive databank of Finnish consumers and their media usage, we can provide actionable launch planning advice by better defining your target market in terms of:
- How to reach your potential customers efficiently
- Which type of message you should use in order to be effective
- Where do your target consumers shop – which can help customise your sell-in to specific retailers for maximum impact
In summary, our moment led growth innovation framework is proven to minimise the risk of failure and optimise ROI. It materialises through identifying the ideas that will drive growth, optimising strategies for the needs of today’s complex marketing environment and offering the right activation advice about how to reach your ‘target’ consumers.
Lisätietoja: manolis.koumantaros(a)tnsglobal.com ja katja.vonalfthan(a)tnsglobal.com