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presentation discussing how to approach building custom panels for niche markets using Bounty (new mums) as a case study

presentation discussing how to approach building custom panels for niche markets using Bounty (new mums) as a case study

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  • 1. Creating Custom Panels For Niche Markets With Specific Case Study Example From Bounty - A Parenting Club and Media Owner Prepared for AIMRI Meeting “Understanding Niche Markets” Munich October 30th, 2009 Charles Pearson – Managing Director, EasyInsites Vicki Kateley – Research Manager, Bounty
  • 2. Fertility Rate Trends – Quite Varied Across The Big 5 And Select Others Country % Chg In Total Fertility Rate (2000- 05 to 2005-10) Spain 12.0 Italy 9.0 Sweden 7.2 UK 6.6 Russia 4.0 Australia 3.0 Germany 1.0 France .53 US .49 Source: UN World Population Prospects
  • 3. General Population Trends – Most Experiencing Increases Country – ranking % Chg In Total based on previous Population (2005- ranking on fertility 2010) rate chg Spain 0.77 Italy 0.13 Sweden 0.45 UK 0.42 Russia -0.51 Australia 1.01 Germany -0.07 France 0.49 US 0.97 Source: UN World Population Prospects
  • 4. What Is Happening With The UK Birth Rate? UK fertility rate is highest in 34 years with an average of 1.91 children per woman For every 1000 live girls born, there were 1059 live boys – this is the highest ratio of girls to boys since 1979 Continued rise in the proportion of children born to mothers not born in the UK – 24% in 2008 vs. 23% in 2007 vs. 14% in 1998 Bottom line – mums/young families are an important niche market! Source: GRO, ONS, SGRO and NISRA
  • 5. What Exactly is a Niche Market? Typically, it is one where the incidence is low and the challenge of finding and engaging them is greater than with the general consumer population. Also, for these niche markets to matter, they are typically growing and/or are stable with significant enough size to matter to key manufacturers of products directed to those markets. So many examples to name, just a few include: expectant mums or mums with babies or young children (young families), high net worth individuals, specialist professionals such as IT professionals, ethnic minorities, those who have special dietary requirements, and buyers of a particular brand.
  • 6. So what makes the young family audience hard to reach? The emotional journey Evolving needs – Social physical, impact Significant hormonal & ‘ripple effect’ practical of pregnancy & motherhood Personal economic New values situation & priorities
  • 7. Media Stackers are born Media stacking under immense distraction! Household tasks Attention pulled towards children Phone Pushed for time, dashing out e.g. on school run etc. One channel competing Household users with another competing with each other Promiscuous Organised, low media tolerance consumption consumption in pregnancy in family life
  • 8. Media Stackers grow up to become Influencers Impact and enormity of the parenting experience enhances the need for self-efficacy* = the need for self-belief in your own capabilities to be the parent you want to be = the core driver to establishing mutually beneficial relationships with other parents, thereby modelling self on the attitudes and behaviours of others Friends are of equal importance as a source of information as reference books and healthcare professionals ** Network of mutual Parents talk to an average of 4 other parents per week support & empathy about family issues, products and services ** In a typical year parents who talk online talk to an average of 24 other parents who they have never met in person ** Social change drives ‘Influencer’ behaviour… * Source: Bandura, 1989 ** Source: Bounty Insight
  • 9. The Power of Niche Women at the family lifestage are: Connectors Talk to many different people about products Influencers Mavens Have a large amount of knowledge about products By definition Salespeople Are very likely to convince others about products = vital brand advocates 63% of pregnant women are influencers * Clothing, food, healthy of pregnant women & those with living, household products, 57% preschool children are influencers * pharmaceuticals, toiletries of women with no children are 46% influencers * Parents, and especially mothers in their role as household main shoppers, become influential brand advocates * Source: TGI 2009 Q3
  • 10. Recently ‘overheard’ on Bounty.com forums Can anyone recommend DS games like Can anyone recommend a professor layton, millionheir files etc hotel near gatwick? I can recommend FANTASTIC I only buy andrex puppies on a roll! Cannot wedding/party planner for stand thin cheapy loo roll. Essex area can anyone recommend a courier? I can get a mobile phone upgrade soon yay - what phones do you am SO impressed with Thomson Holidays. recommend? x They allow a 10kg baggage for infants under 2, and carry pushchair and car seat i always buy fairy washing up for free! Wahoo!!!!!!!!!!!!!! liquid - lasts ages Influential brand advocates and yet so hard to reach…
  • 11. Approach To Creating Custom Panels For Niche Markets In the same way that marketing to these niche markets needs to be very focused, so does finding them for research purposes. In most cases, the challenges are not insurmountable, it simply requires more thought and attention and generally speaking a higher budget. Thinking and planning needs to be applied at all stages of the process, starting with recruitment all the way through to data collection and maintaining a relationship.
  • 12. Source For Recruitment There needs to be a source for recruitment. This is typically a website that is frequented by that particular market, or a database that has been built by a company who provides products or services to that market. Bounty is a great example given their unique relationship with National Health Service maternity units where 95% of women in the UK deliver their babies. The panel should also be built and owned by the owner of the source for recruitment, thereby reinforcing their relationship and contributing to better response rates and lower attrition. The manufacturer or brand has the relationship with these consumers, and this affinity produces a longer lasting and better result, as compared with a company simply passing over the leads to another company to use as a recruitment source. Without the source, the costs for finding and acquiring these people will likely make the panel build cost prohibitive and partnering opportunities should be pursued
  • 13. Customised Panel Look, Feel and Language By definition, these panelists will be unique from the general population and have a lot in common with one another. The panel look, feel and language should reflect this uniqueness. A generic approach to the look and feel and language will not work well, these panelists will want to feel a part of something that is relevant to who they are, their core needs and their expected mode and style of communication. There should be consistency of colours, images, and language used throughout the process of inviting, profiling and interacting with them and these should be familiar and consistent with how they live their lives.
  • 14. Relevant Engagement and Research Opportunities It is critical that the types of research these panelists are expected to complete are primarily focused on the reason why they joined the panel in the first place For example, if the panel is comprised of expectant or new mothers, sending them surveys on travel for single adults or sports cars is not likely to be of interest or consistent with their reason for joining this panel at this time in their lives. In this example, the primary focus for research directed at these panelists should be associated with the products and brands needed for raising their children or running a household with children. Even cars and financial services products that are closely aligned with this particular niche market would be very appropriate as research topics X
  • 15. Summary Points – Building Custom Panels For Niche Markets Building panels in niche markets is not necessarily an expensive endeavour. If you or your client owns a list or has a database of customers, consumers or a website that attracts those who meet your desired niche profile, then this is an excellent starting point for building a panel. With a Panel Exchange approach where the panel is made available to other researchers to use, there is also the opportunity to provide a revenue source for you or your client as the panel owner to help compensate for the cost of building and maintaining the panel. With niche markets, these panels typically command a very high CPI (cost per interview), so there is likely a money making opportunity for panel owners that can also help fund their own research program.
  • 16. Core drivers to Bounty panel success For Bounty, For Bounty members, as custom panel owners the panelists EasyPanel The one-off EasyBulletinBoard The group EasyVideo Flexibility The ‘therapy’ EasyMobile The ‘out & about’ Direct access and/ or full service The full range of research services to meet business objectives Methodologies that fit with the panelist’s lifestyle and media consumption
  • 17. Core drivers to Bounty panel success For Bounty, For Bounty members, as custom panel owners the panelists On-going maintenance & Only one live survey profiling Control invitation at a time Absolute transparency Control over Consistency with overall frequency of business best practice participation At-a-glance updates on composition, availability, third party usership, etc. Engaged panelists who remain active but never harassed or saturated
  • 18. Core drivers to Bounty panel success For Bounty, For Bounty members, as custom panel owners the panelists Ability to open to Appropriate and the panel on-going Return on Investment to research buyers incentives and sample buyers globally Set-up, recruitment, and maintenance costs are more than off-set Engaged panelists who feel appropriately rewarded
  • 19. In Summary: Step back and examine your resources or those of your client – in many cases you will have a source for recruitment even if this is not the more obvious database or membership-base Think creatively about how to engage and interact with panelists – use channels of communication, language, tone, and technology that work for them Respect the on-going relationship with your panelists - they are your customers and the success of your panel depends on them Unleash the niche!