Amishi Takalkar, Co-Founder & CEO“If a picture can speak a thousand words, imagine the amount of insights you can gain from a video that encompasses millions of pictures,” begins Amishi Takalkar, Co-founder and CEO of NAILBITER. Having tremendous experience in developing innovative market research techniques, NAILBITER assists companies across industries including CPG with behavioral insights of the consumers with video. Amishi and her team are playing a leading role in providing CPG companies with the ability to discern actionable insights. The positive response from their clients has been immense and it is epitomized by their customer repeat rate which, from 2017-2018, is 100 percent.
The traditional data capturing techniques such as survey research methods, focus groups, and page clicks can give access to the requisite data to analyze the market and consumer behaviors. However, they fail to explain the human cognition behind the decisions they make in-store and online. NAILBITER provides its clients with a platform to comprehend consumer behavior at the exact moment of purchase, and can even verify if the brands’ promotional activity is influencing consumers’ purchase decisions.
Instead of relying on conventional data capturing techniques, NAILBITER leverages its proprietary analytics platform that is designed to uncover hidden insights from video. The platform gives clients comprehensive details about consumer behavior in-store and online, for example, why a consumer chose to switch to Amazon or Walmart in the e-commerce space, and how they decided to buy products. “If the consumer has two brand options, they are likely to think rationally before choosing one that is important for them. Whereas, when the same consumer is in-store, he or she might exhibit a different behavior. In this scenario, manipulating them to trade off in choices is not a simple matter of price and discounts. This is where we jump in to support clients with behavioral data insights,” explains Amishi.
NAILBITER allows consumers to download its application on personal devices such as smartphone and tablets, and make a short video while they are shopping in-store or online. NAILBITER’s platform captures details such as the needs of the customer, usage occasions, as well as the marketplace factors where the shopper makes a conscious decision to buy the product.
NAILBITER allows brands and marketers to truly see how product and marketing activity impact consumer decisions in the real world
The firm covers the entire customer journey from the time they decide to go to the store, navigate their category of interest, and finally make the purchase. The customer journey is not limited to the store experience alone. According to Amishi, videos that are captured at-home aid clients to understand product usage and utility. This level of depth is only achievable thanks to an efficient recruitment process that targets shoppers who are category buyers on their natural trip.
The applications for Quantitative Videometrics span across numerous applications. One such success story included a top global manufacturer of cleaning and disinfecting products. In their research, NAILBITER videometrics revealed that millennials were far more likely to purchase disinfecting wipes based on fragrance than previously assumed. It was initially thought that shoppers were most likely to make purchase decisions for disinfectant wipes based on Claims and Benefits. As a result of the data and insights provided, the insights team was compelled to change their conventional thinking regarding category purchase criteria. They proceeded to create new products and concepts which were driven by fragrance in a category that was not typically thought to be fragrance driven.
With an understanding that data needs to be unique, reliable, actionable and scalable, NAILBITER continues to invest its resources in enhancing their increasingly comprehensive Normative Database (the first ever Norms database exclusively based on videometrics). The firm has assisted several of the top 20 global CPG manufacturers in conducting market research and is actively providing its services to companies in almost every continent including Australia, Africa, Europe, Asia, North America, and South America.