System1, a marketing decision-making platform, has launched its automated Test Your Idea functionality, which provides predictive insights on product prototypes, names, logos, packaging, straplines, promotions and more to help brands maximise profit potential.
Test Your Idea reports highlight respondents’ emotional responses to concepts as well as their predicted acceptance of ideas and decision speed. Brands can also discover what respondents view as the main advantage of each idea and their suggestions for further improvement.
With this information, product development teams can better understand what adjustments should be made to future iterations of their product to increase the likelihood that it is a commercial success. Meanwhile, marketing teams and agencies gain insights on which branding elements and campaigns will resonate strongly with consumers.
Jon Evans, Chief Growth Officer, System1, said: “Brands often struggle to accurately predict which of their ideas will be the most successful.
“At System1, we know that 5-Star ideas are three times more profitable than 1-Star ideas. With Test Your Idea, brands can quickly and easily access consumer insights and recommendations, enabling them to innovate with confidence.”
Rebecca Hamson, Brand Manager at dorset cereals, a company that used Test Your Idea, said: “We evaluated some ideas through System1 around 18 months ago, and our product Muesli with Granola Clusters performed exceptionally well.
“We have been working hard to transform this from an idea into a marketable product using the valuable insights from this platform. Now, I’m pleased to announce that our product just launched this weekend in Tesco under its new name, Muesli Crunch!”
The methodology:
System1’s Test Your Idea platform scores each idea with a Star Rating between 1 and 5, with 5-Star ideas being highly profitable. The Star Rating is based on three essential metrics:
- Emotional Pull – The happier people feel about an idea, the better it will sell. System1’s FaceTrace® technology allows people to pinpoint the emotions they feel regarding each concept.
- Predicted Acceptance – This metric is calculated with a trading game that asks respondents if they would buy or sell shares in the idea. It accurately predicts the profit potential of a concept by determining the percentage of people who would purchase shares.
- Speed of Trading – This measures how easy an idea is to process and is determined based on the time it takes a person to note whether they’d buy or sell shares in the idea.
Wisdom of the crowd – With Test Your Idea, System1 tests with a broad sample to understand the true potential of an idea. Research validates that crowds are better at predicting success than small, targeted groups, which is why System1 doesn’t just ask a brand’s target market, but a diverse group of 500 people who represent the population. By asking them which ideas they think will work, a projective question, brands get the most realistic view of how their ideas will perform.
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