In our recent article, we delved into the essential principles for successful AI testing. Now, let’s look at how you can leverage AI to discover new spaces and supercharge your growth.
The reasons for finding new spaces are simple: our data tells us that a brand’s chance of growth doubles if it can find new uses for its range.
Many brands have successfully identified one of these routes to growth; Uber moving into food delivery, Tesco seeing an opportunity as a mobile phone network, Dettol stretching into home hygiene or BelVita transforming into a breakfast biscuit, for example.
Building competitive advantage by concept testing at scale
For most businesses the critical questions will include: Where should we expand geographically? How much can our brands stretch into new places? How can we bring winning ideas to life and ensure they live up to their potential within our innovation process?
ConceptEvaluate AI, our newly launched AI-tool on Kantar Marketplace, is an integral part of Kantar’s suite of AI tools and is well-placed to help you move more effectively from ideas to concepts. Once you have identified your winning ideas, you need to decide how to best translate them into concepts that will fulfil that promise and which iterations to take forward for further optimisation and activation. ConceptEvaluate AI helps you make these innovation decisions more confidently.
It supercharges your innovation process. It does this by helping you evaluate up to 100 early concepts simultaneously, faster and cost-effectively. This enables greater experimentation, helping you test and learn at speed, enhancing your business agility.
It provides results you can trust. ConceptEvaluate AI has been trained on an extensive dataset that we have tested globally, encompassing nearly 6 million consumer evaluations of innovation concepts, helping you make bolder decisions by providing accelerated insights for early-stage predictions. The results have been validated to show a high degree of consistency versus consumer surveys with close to 90% consistency on key measures of trial, uniqueness and relevance.
It helps you align with consumer needs. The measures ConceptEvaluate AI delivers have been carefully curated to highlight the market success potential of concepts, with early insight to their ability to drive meaningful difference.
When can ConceptEvaluate AI help you?
ConceptEvaluate AI is the right tool for you when you need:
- Fast delivery with high accuracy: you can iteratively sense check more concepts quickly so you can move into in-depth testing with greater confidence.
- Minimise risks in the process: it provides a cost-effective option to early screen multiple concepts, enabling you to assess concepts that would normally go untested.
- Make confident decisions: Its solid and highly accurate survey-trained AI model allows you to gain early feedback without exposing your concepts to consumers. You can test concepts that are in early stages, vital for categories such as Tech and moments when you need to work on highly strategic initiatives.
The results give you quick guidance on prioritization and make sure you don’t miss out on meaningful revenue opportunities.
How you can unleash growth potential
ConceptEvaluate AI has been tested extensively with some of the world’s most valuable brands to help drive agility and build confidence early in the innovation process.
If, for example, you are an insights manager for an FMCG brand and wanted to confirm which of your portfolio brands was best placed to drive growth in new markets, you could use ConceptEvaluate AI to rapidly evaluate the success potential of multiple concepts across markets targeted for expansion. It would deliver early insight on the top candidates to move forward and initial guidance on optimizations to help these winners live up to their full potential.
Or if you worked for a consumer electronics company that was looking to move away from its traditional focus and wanted to test concepts in a confidential space, you could use ConceptEvaluate AI as a testing ground to gain robust feedback on more than a dozen concepts without exposure to consumers (or rivals).
In both these scenarios, ConceptEvaluate AI could play a critical role in identifying potential new growth avenues so you could pursue further development with greater confidence.
The right answers for your business-critical questions
If you love being at the forefront of the industry and are open to AI, with an understanding of its benefits and have multiple early innovation concepts ready to screen, then ConceptEvaluate AI is the right solution for you. Having trusted AI data that can guide you towards the right answers is critical. Finding new space, for example by exploring new uses for your range or expanding in new markets, is one of your key drivers of brand growth. ConceptEvaluate AI gives you the tool you need to test at scale as part of your search for winning innovations.
Book a demo today to see how ConceptEvaluate AI can empower your innovation process.
