Suitable for launching new products but also in fixing problems with demand for existing products. Best for product testing and observing step-by-step customer reactions, and for field experiments.
WHO IS IT FOR?
- High-end clients who wish to engage in long-term planning of their product infrastructure and test step-by-step how their customers will react
- Any B2C company across a wide range of industries (e.g. retail, telecommunications, services, fashion, food, tourism and hospitality, and fast-moving consumer goods)
- University researchers who wish to conduct survey or field experiments via social media
- This approach is suitable for launching new products but also in fixing problems with demand for existing products
- After the initial screening and customer segmentation using the BASON Survey in the pre-experimental phase, we set up a series of survey-based experiments each of which is design to test one particular aspect of the product (design, functionability, customer segments, etc.). The goal is to provide the client with actionable metrics that can be implemented in a short period of time, and tested again to apply the process of validated learning
- Guaranteed correct estimation of causal effects of a campaign on product demand by using randomization of samples into treatment and control groups
(NOTE: this does not imply the usage of focus groups or A/B testing because neither satisfies the experimental benchmark of randomized control trials)
- The process of validated learning implies repeated experiments on a number of different features to generate new insights on the customers’ reactions to the product
- For University researchers this implies conducting randomized control trials (survey, field or lab experiments) for a lower total cost and much greater precision than by using regular pollsters; it also includes a network analysis which enables researchers to track group cohesion, network clustering, echo chambers, cognitive dissonance, etc.