New Product Development (8 posts)

Topic tags: Market Research, NPD
  • Anyone used social media to assess the likely demand for a new product before it is produced. What social media channels did you use and how effective was your research?

  • @chatmarketing

    I haven’t, but your question reminded me of a story in The 4 Hour Work Week where someone used Google’s Adwords to determine if there’d be enough interest in a product (I think it was a pirate shirt, but maybe I’m cross-referencing with a Seinfeld episode). 

    People could buy this product by clicking on the ad, but he would refund their money if there wasn’t enough interest in the product.

    Judging by clickthroughs and pre-sales he realized there was enough interest and had them manufactured. 

    Another option might be a kickstarter project.

  • Thanks Rich, good idea re Google ad words!! I wonder if you could do something with Facebook ads? Not heard of a Kickstarter project, is that some kind of crowd funding programme?

  • Kickstarter is exactly what I thought of, Rich. I used it to publish my cookbook. And, yes, Alan, it is crowd funding. @rich-brooks @chatmarketing

  • @chatmarketing

    Here’s an article I wrote a while back for SME on Kickstarter and other crowdfunding sites: http://www.socialmediaexaminer.com/11-tips-for-crowdfunding-how-to-raise-money-from-strangers/

    And a short TV segment I did on the same subject, if you’re interested: http://www.flyteblog.com/flyte/2011/06/crowd-funding-taking-money-from-strangers.html

  • Thanks  @rich-brooks I’ll have a read of that.  @deairby thanks also for the info and glad it worked for your cookbook!

  • Alan, I know of a German team who created a FB app for that: unserAller.

    You can sign up and get involved in the product development process, from defining the product itself all the way to giving it a name and designing the package.

    For example: one of their customers wanted to create a new chutney for their range. Members received a basic ingredients package as a start to make up their own chutney recipe. Members could vote for the best recipe. Members defined the name – winning name by voting. etc

    Currently a face care brand has simply asked the community which product they feel is missing in their portfolio. So they leave the door wide open for any idea.  

    Unfortunately I don’t have an example in English but I hope this inspires you nevertheless.

    @chatmarketing

  • Thanks very much  @claudiapoeckl


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