Drive product innovation based on consumer insights from social media analyses

Background

Our client is one of the world’s largest brewing companies, with more than 150,000 employees in 150 countries and a portfolio of over 500 beer brands. The company relies on data-driven insights in order to optimize customer journeys and implement high ROI pricing and marketing initiatives.

Challenge

The client wanted to drive product innovation based on consumer insights. By analyzing large amounts of data, they wanted to understand what drives consumer choice. They also wanted to learn what technical and sensory factors are linked to consumer buying patterns in order to increase sales.

Approach

- Assess possible data sources and select the most relevant ones. - Design and build analytical models 1) of customer preferences in relation with the company's products technical and descriptive elements, 2) of usage attitudes related to (non-) alcoholic drinking occasions, and 3) of sentiment analysis on social media, blogs, and other online consumer perceptions. - Design and build dashboards and reports that provide insights on all models to the R&D team for product innovation, and to the Marketing and Sales teams to drive new consumer engagement strategies.

Key results

Benefits

By gaining insights on consumer expectations, product associations, positioning of brands, and predictive product preferences, our client was able to improve customer satisfaction and ROI. This data-driven approach ensures that price settings increase margins while retaining existing customers.

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