Welcome to the InsightFarm Innovation HotHouse

Innovations come and go – capturing our attention and personalizing the future that is unfolding before our very eyes. Some innovations make a huge splash and disappear in the blink of an eye. Others unfold in a slow burn and melt into the fabric of our lives. How are we to know as marketers what innovations are really storming the market and which are just hype? And, of those innovative products, which ones will be most likely to stick, grow, and develop into mainstays of the economy? Finally, how can Innovators better measure ideas before they finalize them, to make sure they exhibit the same strengths as successful introductions before they are introduced? The InsightFarm Innovation HotHouse is designed to answer these questions and fuel Innovators with knowledge to help them grow big ideas.

What does the InsightFarm Innovation HotHouse do?

First –
the InsightFarm Innovation HotHouse is a Marketplace Monitor. We use continuous collection of consumer noticeability of new products as they enter the market. These Consumer Noticeable Innovations become the platform for further analysis.

Second – the InsightFarm Innovation HotHouse measures consumer awareness of innovations that are noticeable, the marketplace conversion potential of these products, and a modeled success index based on 18 diagnostic questions designed to assess a product’s perceived ability to meet consumer needs from three standpoints: 1) using the product itself; 2) using the product to produce or create something else or an experience; 3) sharing the product or information about the product to have experiences with others. These three dimensions measure the product’s ability to stretch beyond functional dynamics and become part of the fabric of life.

Third – the InsightFarm Innovation HotHouse measures for Modeled Interest (part of Marketplace Conversion Potential) and the Success Index can be collected for products that are not on the market yet – those in the concept stage. These measures help Innovators make adjustments to new product concepts prior to introduction and better understand the likelihood of success.

Finally – the InsightFarm Innovation HotHouse is a personal experience. Kelley Styring, Consumer Strategist, Author, and creator of the InsightFarm Innovation HotHouse, personally uses and shares her experiences with the top scoring products in her blog: The InsightFarm Innovation HotHouse Blog. The blog helps “bring to life” the Innovations measured and offers one real person’s experience as a template for understanding the broader consumer measurements and an expert opinion to help interpret the consumer measures provided.

Please contact Kelley Styring at: kelley.styring@insightfarm.com for more information on the InsightFarm Innovation HotHouse. The InsightFarm Innovation HotHouse is powered by C&R Research, Chicago, Il.

InsightFarm Innovation HotHouse: the Measures

Consumer Noticeable Products: Items achieving a noticeable level of mentions in an open ended question about “new products” on the market enter the InsightFarm Innovation HotHouse measurement system. All items reviewed are Consumer Noticeable Products.
Initial Awareness: Consumer Noticeable Products are presented to consumers and aided awareness measured for the first period after they are noticed. This is Initial Awareness. The product will continue to be presented in subsequent periods until a minimum awareness base of 75 is reached. Then diagnostic data across waves is combined for analysis. Initial Awareness is not impacted by subsequent waves.

Conversion Score: A composite measure modeled from purchase interest, perceived popularity, and intention to recommend.

Domino Analysis: A weighted composite of 18 diagnostic measures compiled into three outputs including “consume”, “produce”, and “share” dimensions. An index to the average of other composite scores is reported. An index above 120 is considered strong.

Success Index: Total weighted composite score from the Domino Analysis. This total score incorporates the 18 diagnostic measures’ impact on interest, perceived popularity and intention to recommend. An index to the average of other composite scores is reported. An index above 120 is considered strong.

Monday, February 23, 2009

ShamWow! Sham? or Wow!




The excitement is palpable as the kids fling water all over the kitchen – the counter, the floor, and filling several large bowls. They tear open the package of ShamWow! “towel, chamois, and sponge, all in one!” and expect to be as excited & fulfilled as the on-air talent with the fake fairgrounds microphone attached to his face.

“Wow! Mom! Look at it suck up all the water from the bowl! Just like on TV!” exclaims Gillian, age eight, as she thrusts the thirsty towel into the bowl of water, wringing it out and thrusting it in again and again. Yep, just like on TV, except a whole lot of water is spilling onto the counter and all over floor.

“Yep,” says Collin, age thirteen, as he also sucks up water here and there with the over-priced-as-seen-on-TV towel product. “It sucks – water anyway.”

But wait! There’s more! More water, everywhere! Everywhere there is a flat surface – there is a lot of water left behind! A little like wiping a surface with super-sized panty hose, there is significant moisture not absorbed. Perhaps that’s why they use bowls and carpets in the demos? And, we tried using it as a bathmat as seen on TV too, where it stuck to my foot and I dragged it around like public restroom toilet paper. Now, there’s a sham! Wow!

I’ll keep ShamWow! around for carpets and large spills, where they do the initial suckage of very large amounts of liquid quite well. But to get a perfectly dry surface, a good old fashioned paper towel is probably a more effective, if less sexy choice. And, with a paper towel, you can look at the Brawny guy and not the smarmy microphone dude. Wow!

The Data:

ShamWow! has high initial awareness at 60%, but while people think it will be popular, the interest scores are moderate overall netting a conversion just over 10%. Not great for such high awareness. Perhaps drying things is not a huge unmet need in the market?

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