skim webinar "how to overcome inertia"
DESCRIPTION
A good idea may move and inspire people, but it takes more to make them act. Moving to a new situation requires the new situation to be better than the old one, but also that consumers' concerns are addressed. That's because moving to the new situation requires action, and it is far easier to do nothing than to take the risk. How to overcome this inertia? Flip through this presentation to find out or read back what was presented in our webinar at January 26, 2012 by SKIM's expert Robin de Rooij. Learn how revealing triggers and barriers can help you optimizing the uptake of your new product or service.TRANSCRIPT
How to overcome Inertia
SKIM Webinar | January 26, 2012
Robin de Rooij
Senior Project Manager
Telecom, Finance & Durables
Margreet Hanemaaijer
Today’s webinar host
What prevents them from acting?
My product is great. Why don’t people buy it?
2
SKIM Webinar | January 26, 2012 | “How to overcome Inertia” | Robin de Rooij SKIM Webinar | January 26, 2012 | “How to overcome Inertia” | Robin de Rooij
Overcoming inertia is about a balancing act
3
• Triggers
• Aspects of the product and
its use that cause people to
be excited about it and
cause them to act
• Barriers
• Doubts or concerns that
people may have about the
product and stops them
from acting
SKIM Webinar | January 26, 2012 | “How to overcome Inertia” | Robin de Rooij SKIM Webinar | January 26, 2012 | “How to overcome Inertia” | Robin de Rooij
To help overcome inertia, we work with different types of communication
• Motivate consumers to purchase
the product
• Represent new news
• E.g., claims expressing the true
promise
• Help consumers to overcome
barriers and doubts
• E.g., endorsement claims, claims
of no side effects or adverse
effects
4
True motivators Reassurances
To capture such trade-offs in market research, an interview procedure mimics a conversation between the brand and the consumer
5
SKIM Webinar | January 26, 2012 | “How to overcome Inertia” | Robin de Rooij
SKIM Webinar | January 26, 2012 | “How to overcome Inertia” | Robin de Rooij
Space View example
7
http://youtu.be/V_3iMXKfF00
SKIM Webinar | January 26, 2012 | “How to overcome Inertia” | Robin de Rooij
Interest
Benefits
Doubts
Reassurances
Price
Is the consumer interested in the product concept?
Are the communicated benefits compelling and relevant?
What are the doubts preventing the consumer from acting, if any?
Are reassurances powerful enough to overcome the doubts of the individual?
Step by step, we learn more about why a consumer wants a product or not And a consumer will only buy if all requirements are met
Is price a barrier to the consumer, what is a consumer’s reference point?
SKIM Webinar | January 26, 2012 | “How to overcome Inertia” | Robin de Rooij
At every intersection, a product can fail to convince
Interested?
Like the benefits?
Overcome the doubts?
Willing to pay the price?
SOLD!
Not reached
Not reached
Not reached
Not reached
9
Based on this insight, SKIM has developed the integrated Triggers & Barriers approach
10
SKIM Webinar | January 26, 2012 | “How to overcome Inertia” | Robin de Rooij
In Triggers & Barriers, we use an integrated approach to maximize the Reach of a product
11
SKIM Webinar | January 26, 2012 | “How to overcome Inertia” | Robin de Rooij
Performing a Triggers & Barriers study
• Performing a study requires a good understanding of the market
• What are relevant triggers?
• What are relevant barriers?
• How can these be addressed?
• This is an integrated solution to understand reach. So if one part is not
accurate enough, overall results will suffer
• In case you are unsure what the main Triggers & Barriers are in the market
you are operating in, we recommend performing qualitative research first to
obtain this understanding
12
Back to the Space View Example
13
SKIM Webinar | January 26, 2012 | “How to overcome Inertia” | Robin de Rooij
Interest
Benefits
Reassurances
Price
Persuaded
For prospects to be persuaded, all criteria must be met
14
Concept exposure
Positive triggers, e.g., adventurous, unique
Reassurances, e.g., certified safety, no harmful side-effects
Willingness to pay € 70,000
Persuaded or not
Mr. A Mrs. B Mr. C
SKIM Webinar | January 26, 2012 | “How to overcome Inertia” | Robin de Rooij
What do you think?
15
• Which of the following Triggers would motivate you
most to buy a ticket for Space View?
• Which of the following Barriers would stop you from
buying a ticket for Space View?
SKIM Webinar | January 26, 2012 | “How to overcome Inertia” | Robin de Rooij SKIM Webinar | January 26, 2012 | “How to overcome Inertia” | Robin de Rooij
For each barrier, we have one or more predefined reassurances
• Safety – Crashing
• Safety - Health problems
• Physical Discomfort
• Limited visibility
• Safer than most airlines due to proven NASA
technology and safety standards
• Weightlessness does not cause
health problems unless exposed for
extended period of time (months)
• Launch and landing are no more
uncomfortable than a roller coaster ride
• 33% of earth surface covered in clouds, but
you will always have a magnificent view
18
Barriers Reassurances
SKIM Webinar | January 26, 2012 | “How to overcome Inertia” | Robin de Rooij SKIM Webinar | January 26, 2012 | “How to overcome Inertia” | Robin de Rooij
To what extent can the proposed reassurances take away barriers and why?
6%
7%
11%
19%
10%
11%
17%
29%
6%
10%
8%
9%
14%
24%
5%
6%
8%
14%
Limited visibility
Physical Discomfort
Safety - Health problems
Safety - Crashing
DefinitelyProbablyMay or may notProbably notDefinitely not
19
SKIM Webinar | January 26, 2012 | “How to overcome Inertia” | Robin de Rooij SKIM Webinar | January 26, 2012 | “How to overcome Inertia” | Robin de Rooij
In many cases, the absence of brand can also be considered a doubt
• I’m afraid the product or
service is offered by an
untrustworthy brand
• If the product or service is
offered by …, I will trust it
• This could be multiple or NO
brands.
20
Barrier Reassurance
55% 35% 20%
45%
Do not trust unless NASA KLM KLM - NASA
SKIM Webinar | January 26, 2012 | “How to overcome Inertia” | Robin de Rooij SKIM Webinar | January 26, 2012 | “How to overcome Inertia” | Robin de Rooij
With an integrated approach, we put it all into perspective
• Strength of Triggers & Barriers
• Reassuring/ addressing these barriers
• Added value of multiple communication messages
21
SKIM Webinar | January 26, 2012 | “How to overcome Inertia” | Robin de Rooij
22
This allows us to understand the total Reach based on a communication strategy
Message 1 Message 2 Message 3 Total Reach
Benefit 1 Reassurance 1 Reassurance 2 64%
Benefit 1 Reassurance 1 45%
Benefit 1 12%
• Some people do not have strong doubts or barriers, they can be reached by just focusing
communication on a relevant benefit, but this is generally a small group
• Most consumers have strong doubts and need to be reassured, multiple reassurances
allows the brand to reach more consumers
SKIM Webinar | January 26, 2012 | “How to overcome Inertia” | Robin de Rooij SKIM Webinar | January 26, 2012 | “How to overcome Inertia” | Robin de Rooij
0%
20%
40%
60%
80%
100%
1 2 3 4 5 6 7
Total Reachbased onTriggers &Barriers
TURF analysis allows us to discover an optimal number of messages to communicate This does not yet take into account limited amount of space for communication
23
Total
Reach
Number of messages
communicated
SKIM Webinar | January 26, 2012 | “How to overcome Inertia” | Robin de Rooij SKIM Webinar | January 26, 2012 | “How to overcome Inertia” | Robin de Rooij
Finally, we measure purchase likelihood at a number of price levels
24
0%
20%
40%
60%
80%
100%
€ 50,000 € 70,000 € 90,000 € 110,000
€ 0
€ 5
€ 10
€ 15
€ 20
€ 25
€ 30
€ 35
Purchase Likelihood (%) Revenue
Purchase
likelihood
Revenue
measure mln
SKIM Webinar | January 26, 2012 | “How to overcome Inertia” | Robin de Rooij SKIM Webinar | January 26, 2012 | “How to overcome Inertia” | Robin de Rooij
So in the end we can…
• Help you to overcome inertia and successfully launch your product by
identifying a balanced mix of messages that maximizes action.
• Optimize Reach and Revenues, identifying the best combination of
communication and pricing to target those willing to pay
• Strategies can be targeted to those most likely to take action, because
overcoming barriers is harder for some people than for others
25
How inert are your customers? And Why?
26
Robin de Rooij
+31 10 282 3525
Margreet Hanemaaijer
+31 10 282 3514
Go to www.skimgroup.com/webinar-inertia
for today’s presentation slides and more!
Find out about our next webinar at skimgroup.com/join-our-marketing-webinars.