Social Intelligence adds value throughout the Stage Gate Process

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Social data is becoming increasingly important in the new product development processes of many companies. In particular, manufacturers are tapping into social conversations as they explore new product ideas in order to learn what consumers are interested in and talking about. Later, when launch is imminent, social channels are becoming a key factor in setting media and advertising strategies.

These applications of social media analytics only scratch the surface though. Social data can be a unifying thread of information that supports decision-making at every stage of product development – discovering a new product idea, building a business case for it, developing the product, testing and validation, launch, and post-launch review.

For example, during discovery, social media data can help uncover ideas for new products or product line extentions to existing product lines. Then, as you’re building the business case and developing the product, social analytics can be used to monitor the pulse of consumers, alerting you to changes in their attitudes and interests.

During testing and validation, social data could play a crucial role in deciding to stop a project. Information gathered as part of market analysis might signal that customers are showing strong preference for the features of another company’s competing product. Pulling the plug on your development efforts could potentially save millions of dollars.

Social data can also be invaluable in the media planning and buying process. By assessing the potential “social lift” that social media can provide to your paid media initiatives, social analytics can help you commit the minimum effective spend needed to achieve the maximum effective return on media expenditures.

In our most recent white paper entitled Stage-Gate success: How the social web drives product development, we examine the role of social media analysis and data in the product development process, using the example of the highly regarded Stage-Gate® Product Innovation Process.

4 comments to Social Intelligence adds value throughout the Stage Gate Process

  • Social data is undoubtedly a goldmine of the future once businesses learn how to harness and get value from the deluge of information coming from social media. I’m certain my good friend, Paul Dunay, has real insights to speed this learning process for most companies.

    Jeff Ogden, the Fearless Competitor
    Host of Mad Marketing TV

  • Thanks Jeff – I am looking forward to being on Mad Marketing TV soon!

  • I do agree that social data is a goldmine when it comes to the different stages of dicover, test and implement but I also feel it should be tied to the other market research methods to validate what is being discovered as some segments of potential user base may not be either present on social media platforms and in some cases such as users of generic drugs may not be willing to discuss it over social media platforms for lack of confidentiality.

  • Totally agree Rahul – but I do believe they will eventually come up with some sort of provate test communities online for Pharma

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