Simulate your consumers and get deep insights in seconds and on a budget

In this insight article, we break down the cost of existing data sources and how our first tool, Seer Voice, can save you both time and money.

Brand and insight managers are budget pressed today

If you’re in brand management, leading a specific category (call it eco-friendly sunscreen or plant-based milk, whatever…), your budget for consumer insights is probably in the range of $500K. Could be more, could be less, but it’s definitely finite and limited.

So, what are you spending this budget on? We’ve spoken to almost 100 leaders in the space to develop a broad understanding:

• Syndicated or Behavioral data: ~ 80% or $400K on NIQ, IRI, or some similar data that gives you real buying patterns. This can answer what products customers are switching to; where they are buying, how often, share of wallet penetration etc.
• Stated data: The remainder generally goes into qualitative insights including:
  • Consumer wants and preferences survey - ~$50K to survey 2,500 relevant consumers
  • Focus groups - $30K for 5-6 focus groups with 10 participants each
  • Site visits - $20K for 10-15 people over 1 week, incl. travel
  • And then…

Oh wait, you’ve run out of budget and there are still more questions… You haven’t even done one-on-one conversations, tested packaging and shelving, understood eye movements using VR headsets. The data is incomplete, might miss some key channels, aren’t taken in good faith, or aren’t representative of your target persona. In addition, it takes weeks, if not months, to get insights back

Finding alternatives to these sources is tough. If you’re a start-up, let’s be honest, these options are far too expensive. You’ll scroll reviews, do Google searches, loiter around supermarkets, maybe just go to market with the most basic product you can. But these options don’t really help that much, are limited in scope, and take time to get done.

Synthetic personas - the faster, more affordable alternative

So, what can you do? This is exactly what Seer is trying to solve by building “synthetic” personas that are backed by decades of proprietary Bain & Company research and leverage reams of public data. Our first tool, Seer Voice, can generate quality insights, backed by sources, quotes, and deep analytics, within seconds and at a fraction of the price of existing options. Our solution offers a game-changing option to open up your budget, get to insights faster, and ultimately make market-winning decisions.

So, what are you waiting for, chat with us. We’re eager to learn more about your specific problems and develop an affordable, high-quality solution together.

‍

‍