YouGov has launched a new polling tool in the UK, which is designed to track the performance of new FMCG brands and products, line extensions and re-launches in the crucial first few weeks of a product’s launch.
Launch Monitor measures consumer reaction in real-time and feeds this back to marketers, enabling them quickly to adjust their sales and marketing approach during the launch period, said the research agency.
The UK launch follows a successful roll-out in Scandinavia.
Each week YouGov measures consumer reaction to a product launch including brand awareness, trial take-ups, purchasing behaviour, intentions and recommendation levels.
These are then evaluated or benchmarked against sector norms and target expectations. The results, which can also include future market share potential, are delivered every Monday morning, enabling marketers to adapt their sales and marketing approach that week where needed.
Rob Cushen, retail & Cconsumer director at YouGov, said: “The first eight to 10 weeks in the life of a new FMCG product is crucial to its long-term success. Very few companies get it right first time and many complain they don’t get precise insight in time to change course ‘in flight’. One of the main advantages of Launch Monitor is it shortens the lead-time between identifying consumer behaviour and attitudes to changing the marketing mix based on insight.
‘To use a real example: one of our clients identified high repeat-purchase intention levels but a problem with low trial take-up scores. The client used this insight to switch budget and activity from mass-market initiatives to in-store sampling ones. Having these research findings during the critical weeks of a launch can make the difference between success and failure for FMCG brands.”
Companies such as Carlsberg and Arla Foods – producer of Lurpak – have already benefited from Launch Monitor and its capabilities, said YouGov.
Typically Launch Monitor polls a nationally representative sample of 2,000 people using YouGov’s panel of over 350,000 adults aged 18+ or it can be adapted to focus on specific sub-groups, the company said.