CUBE Congress v2.0
End of February, 230 interesting and interested people came together to share insights and learnings with respect to modern-day consumer understanding.
The topic of the event: Humanizing Data in a Digital World.
The second key-note from best-of ESOMAR was brought to us by Dieter Deceuninck from Danone Waters.
Title: Re-imagine innovation
Here, we’ve learned that it is increasingly difficult for established players in the beverage industry to stay competitive. Sounds abstract, but also at least somewhat surprising. How innovative can beverages really be?
As it turns out, bringing out beverages is trendy among celebrities. A lot of them have their own beverage or invested significantly in some beverage company.
Furthermore, lead times for the development of new beverages can be really short; as little as 39 days.
Last but not least, it may need as “little” as 60k-85k of capital to create your own beverage company.
Combining these three points means that the established players are under quite some pressure to stay on top of things. They need to stay agile and innovative to protect against upcoming new players.
Danone found a number of levers they can move in order to face that challenge:
They optimized and re-defined their strategic foundation by…
… taking into account insights from a wider range of data sources
… automating the real-time detection of micro-trends
… engaging in continuous strategic planning
… putting on new lenses with respect to their segmentation
… reframing the market definitions they operate in
They then asked themselves how they can get closer to the heart of consumers. What they ended up doing is a new segmentation based on consumer tribes. Within the relevant tribes, they now co-create with tribe ambassadors. As a last step they also found real-world testing and the creation of real-world touchpoints to be of high relevance due to its impact.
pictures by Momentuum photography http://momentuum.eu/