In an increasingly fragmented media landscape, advertisers have a plethora of options available to them when it comes to announcing a new product. Social channels like TikTok and retail media networks have become popular launching spots for new products, adding on to more traditional channels like linear TV or radio. Each channel has its own benefits and drawbacks, with some reaching different audiences than others. As such, advertisers must understand which channel will deliver the highest ROI and exposure to their target audience.
While many marketers still rely on traditional marketing mix models to help them plan new product launches, these tools are limited in the insights they deliver. These methods rely on historical performance and limited datasets without the ability to test a product launching, meaning marketers can’t truly understand how a new product will perform until it’s potentially too late.
Keen uses a proprietary algorithm to predict future performance and deliver a test drive of a new product on a set of channels. Delivered in real-time, marketers can see which channels will be the most effective for launch.
Keen also provides portfolio-level insights, meaning advertisers can see how the performance of this new product would perform against the other products in a brand’s portfolio. This level of insight can show how a new product would impact the sales of other product’s and whether it has long-term viability in the industry. For example, if a CPG brand was looking to launch a new line of cereal, they can see how it would impact the sales of that brand’s existing product portfolio and if it makes sense to enter new channels so as not to take away sales. Whether a large company or a smaller brand looking to expand its portfolio, having this information would be extremely valuable.
Take a tour of the Keen Platform to see how it can help you make the best marketing investment decisions and achieve your goals.
