Social media intelligence is typically in the big data analytics wheelhouse of the marketing department. But product usability and design companies are now packaging and selling it themselves. Analyzingsocial’s big data helps these firms uncover consumer insights (that would be undiscovered otherwise) used to create entirely new innovations and disrupt markets.
Lassen Innovation (http://lasseninnovation.com/about.html
) for example discovered a community of parents on Twitter looking for an alternative to LEGO that inspired innovation over play. Based on the very small percentage of the billions of social posts that made up these conversations, Lassen went tomarket with a new toy which they expect to sell $4M at launch.
During this discussion, Lassen’s CEO will detail his decision to disrupt LEGO by designing a new US-made toy inspired by social media opinion analysis. The insights uncovered by NetBase helped LassenInnovation to:
• Improve time to design by 63%
• Reduce the cost of gaining insights by 43%
• Project sales of 3.8 million in the first year on the market
NetBase and Lassen Innovation will teach attendees to measure consumer sentiment in real-time to:
• Mine and influence customer opinion for product design
• Make instant business critical decisions in the innovation process
• Research consumer sentiment to refine