To turn the tables in their favor, brands need to understand how the shoppers really purchase and consume products (versus what they say). As such, brands have taken a data driven and behavioral interest in CPG research by leveraging the digital solutions of today.
“NAILBITER’s technology enables CPG manufacturers to visualize the e-commerce, in-store, and omnichannel journey of their customers”
NAILBITER is at the forefront of this makeover in CPG research and marketing.
Consumers record their actual purchase decisions in-store and online and their consumption occasions at home via short mobile videos. NAILBITER collects and converts these videos at large scale into Videometrics and insights. This data is inherently more behavioral which makes the insights more unique, believable, and actionable.
Setting Base for CPG That Sells
“Historically speaking, CPG has been at the forefront of leveraging the data revolution; however, in the last 20 years, they seem to have fallen behind. It wasn’t because there wasn’t enough data, but rather too much data with very little insight. That’s where I believe we are making a change, using behavioral data to give CPG manufacturers better insights into their product and branding,” says Amishi Takalkar, co-founder and CEO of NAILBITER.
To give an example, if a shopper is planning to buy toothpaste, NAILBITER’s app will ask the shopper at the store, to turn on their camera, point it to the aisle, and talk about their purchase and the reasoning behind their choice.
As consumers shop, NAILBITER’s clients get to know about the current needs and trends in real-time, giving them an idealistic picture of their products’ potential
The NAILBITER approach replaces the “ask and answer” nature of traditional online surveys. Online surveys were introduced in the 1990s and have helped make research more efficient, making them widely accessible. However, it is wellknown that online surveys have lower data quality than other forms of market research. This is especially true in CPG where brand and product recall is typically low.
Brands must be willing to take on a different perspective, to see through the eyes of the shopper and the consumer, which is precisely what NAILBITER offers. Over the past 5 years, they have been able to uncover many consumer behaviors that have a strong impact on category and brand selection that were immeasurable in the past. For example, NAILBITER replaces the traditional brand awareness metric with “Brand Notice”. The awareness metric is half a century old and doesn’t represent the 100 different ways that brands market and present themselves to the shopper. “Notice” on the other hand is the percent of shoppers who notice the brand in-store or online and is a new and highly sensitive metric that helps predict the impact of brand and marketing activity on sales volume..
NAILBITER’s “always on” approach provides clients with shopper feedback annually, quarterly, or on preferred time-frames. Alternatively, the platform can interact with shoppers and consumers on a question, and answer basis should the clients need a more direct or specific answer to the queries about their product’s performance in the aisle.
Seeing the Market Through Your Eyes
The methodology is designed to be natural, scalable, and behavioral. As Amishi puts it, “The consumer-volunteer will get a small incentive—small enough that they will not want to make a special trip to go to the store, but good enough that if they’re already there, they’ll think ‘why not?’”
The Market Unfolded, A New Wave for Brand Definition
Creating a large-scale behavioral platform was a big challenge to overcome. The next challenge was discovering how to measure through this platform. The final goal was to establish norms that can help predict future brand performance. According to Amishi, “this platform has been growing in adoption at major CPG manufacturers steadily.” The recent COVID pandemic has further illuminated the need for this type of observational platform. They quickly responded by tracking over a thousand shoppers and was widely recognized by the industry for uncovering the definition of the “new normal”. In this new normal, brands should view the current opportunity with enthusiasm and platforms like NAILBITER will help uncover growth opportunities from changing brand and retailer behaviors.
“In terms of client feedback, it has been amazing. Clients are taking our data to retailers, and the retailers are pushing other companies to come to us and get similar data,” adds Amishi. The CPG industry is changing rapidly, and NAILBITER doesn’t want to wait for things to happen or be created. “We are encouraged to work in a field where so many of our clients are actively seeking to try new methodologies and shake up the status quo. We have seen when researchers stop thinking of themselves as a support function but instead strive to be provocative thought leaders, they uncover better ways to strengthen their organization as well as improve their understanding of their shoppers.”
The biggest takeaways from NAILBITER’s experience in CPG is captured by the New Normal that the industry is in. COVID-19 has sent a shock to the global consumer. Instability is a part of the new normal and CPG Brands will need to develop new ways of listening to & communicating with Consumers. “The coronavirus has accelerated many trends we have been tracking over the years such as eCommerce engagement and the rise of private label. Now more than ever, market research has an opportunity to enable clients to adapt, improve, and succeed with consumers in all categories. We’re here to help our partners do just that.”