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How to Transform Video into Quantitative, Scalable, Predictive Metrics
The document discusses how to transform video into quantitative, scalable, predictive metrics for market research, highlighting the advantages of video over traditional surveys. It outlines three steps to scale video research effectively, emphasizing the need for unique, believable, and actionable metrics. A case study is included, demonstrating the successful application of this approach in concept testing, which shows stronger performance metrics compared to market leaders.
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How to Transform Video into Quantitative, Scalable, Predictive Metrics
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- 2. How to Transform Video into Quan3ta3ve, Scalable, Predic3ve Metrics Amit Dhand, NAILBITER The Future of Video Consumer research follows consumer communica1on… video is next FACE TO FACE (SNAIL) MAIL TELEPHONE In- person Surveys Postal Surveys Phone Surveys INTERNET Online Surveys Email/ Web Sites Mobile Social Media Video Email/ Web Surveys Mobile Surveys Video Surveys How People Communicate How Market Research is Conducted Social Surveys
- 3. Marketers need lotsof data to make decisions. Online surveys scaled market research 1900 1950 1975 2000 2009 2014 GLOBAL MARKET RESEARCH = $40B ONLINE SURVEYS = $9.7B
- 4. How to Transform Video into Quan3ta3ve, Scalable, Predic3ve Metrics Amit Dhand, NAILBITER The Future of Video Surveys made research accessible but they suffer from many shortcomings • Recall- Video allows the researcher to observe and not to rely on recall • Behavioral Science- Video is more passive than online surveys and in some cases, can be totally passive • Consumer Burden- Video is open ended, length and content are consumer driven Benefits of Video
- 5. How to Transform Video into Quan3ta3ve, Scalable, Predic3ve Metrics Amit Dhand, NAILBITER The Future of Video • Video research requires two main elements that hold it back from entering Quant MR: – The simplifica3on of metrics – A plaorm to obtain quant video and convert it into raw data Why hasn’t video scaled?
- 6. How to Transform Video into Quan3ta3ve, Scalable, Predic3ve Metrics Amit Dhand, NAILBITER The Future of Video 3 steps to scaling I. Use video to record the actual transac3on, and not a recrea3on for market research No3ce Pick up No3ce Cart I’m not interested in Chips that are Cheez-Its I can put them in baggies for my son Rejects
- 7. How to Transform Video into Quan3ta3ve, Scalable, Predic3ve Metrics Amit Dhand, NAILBITER The Future of Video 3 steps to scaling II. Code for relevant observa3ons and not ethnography What do their eyes SEE? What does their mouth SAY? 0% 50% 100% Sa3sfac3on Score Likelihood of Purchase Purchase Threshold
- 8. How to Transform Video into Quan3ta3ve, Scalable, Predic3ve Metrics Amit Dhand, NAILBITER The Future of Video 3 steps to scaling III. Steps I and II will drama3cally reduce cost per N. Use savings for quant N sizes Unscalable Scalable Recrui3ng and video survey costs Dependent on Inputs (demographics, global) Fixed Rate Panel Costs Variable Fixed Rate Total investments per project Costs vary greatly by project Economies of Scale
- 9. How to Transform Video into Quan3ta3ve, Scalable, Predic3ve Metrics Amit Dhand, NAILBITER The Future of Video 3 steps to scaling Ensure the resul3ng metrics are 1) Unique 2) Believable 3) Relevant/Ac3onable 4) Scalable
- 10. How to Transform Video into Quan3ta3ve, Scalable, Predic3ve Metrics Amit Dhand, NAILBITER The Future of Video CASE STUDY: Concept tes3ng using Quant Video • Each Consumer was exposed to 3 Concepts: § 1 CharcoCaps § 1 GasX anCharcoCapsd § 1 Beano
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- 12. How to Transform Video into Quan3ta3ve, Scalable, Predic3ve Metrics Amit Dhand, NAILBITER The Future of Video NAILBITER APPROACH Consumer is exposed to Messaging concepts online Within a certain period of 3me, the consumer is asked to record their Category Shopping Decision In-Store 51% 49% 32% 14% Modern Strong KEY MEASURES NAILBITER Videometrics™ plaorm converts consumer videos into metrics and insights ANALYTIC PLATFORM Methodology: § N = 600+ § CharcoCaps = 3 New and 1 Current or Control Concept § Benchmarks = GasX and Beano § Unexposed Consumer Defini3on: § Ages 30+ § Sufferers and Treaters (category buyers) of stomach related issues Markets & Retailers: § Total US except Walmart
- 13. How to Transform Video into Quan3ta3ve, Scalable, Predic3ve Metrics Amit Dhand, NAILBITER The Future of Video 20% 32% 28% 34% 28% 88% 66% 12% 12% 13% 15% 7% 44% 23% 4% 5% 3% 4% 4% 27% 11% 20% 16% 10% 13% 13% 31% 17% CharcoCaps Unexposed CharcoCaps Current CharcoCaps 1 CharcoCaps 2 CharcoCaps 5 Gas-X Beano No3ce PickUp Cart Conversion ONLINE PI SCORES v. NAILBITER KPIs 42% 81% 44% 86% 36% 75% 37% 75% 39% 80% 38% 78% TOP BOX TOP 2 BOX NAILBITER KPIs ONLINE PI SCORES CharcoCaps online test scores are higher than market leaders NAILBITER KPIs are representa3ve of the Marketplace
- 14. How to Transform Video into Quan3ta3ve, Scalable, Predic3ve Metrics Amit Dhand, NAILBITER The Future of Video No3ce , 32% PickUp, 12% Cart , 5% Conversion, 16% OUTCOME: INCREASE SPEND AGAINST CURRENT MESSAGE § The Current Message drives the highest number of Shoppers to actually Purchase the product § The Current Message align with the Brand Percep3ons that the marke3ng team is trying to ins3ll
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