Finding new growth opportunities with Cambri MaxDiff - webinar overview
This article is a summary of our webinar on how to uncover growth opportunities with MaxDiff, hosted by Cambri's Customer Success Manager, Anna Sundelius, with speakers Dr Outi Somervuori, Co-founder and Head of Research at Cambri, and Alexandra Palmqvist Aslaksen, Consumer Insight Manager at Cloetta for Scandinavia. Read on for an overview or click here to view the full session.
Anna opens the session on using Cambri's MaxDiff methodology, the perfect way to use consumer insights to truly grow your product or services, with some tips on how to get involved, a general overview of what Cambri is for anyone in the audience who is not yet familiar with us, and a look at the agenda.
This webinar covers:
- Why it's crucial to focus on the most important features
- An introduction to the MaxDiff method
- A case study featuring Cloetta
- Examples of how to use MaxDiff
- Q&A session with the speakers.
00:05:05 Why less is more
Outi explains how to uncover opportunities with MaxDiff and why it’s so important to focus on the most important features. Brainstorming and excitement about creating the best products and services can result in many great ideas. That said, it’s vital to know how to choose the best.
Outi starts with the example of project managers considering what to include in their portfolio. Many consumers might think that the wider the offer the better because that way they will surely find an option they love. However, as Outi explains, this is not always the case. Often having a wider range to choose from only makes the choice more difficult due to what Outi refers to as information overload and can lead to consumers not actually making any choice at all and so you lose purchase opportunities.
Too many options results in information overload and can actually lose you purchase opportunities.
00:10:30 Know your customer
Bombarding customers with numerous possibilities works against you as it lessens their ability to make fair comparisons and limits their capacity to process information. Whether we like it or not, it’s a fact that people are lazy by nature and too many options can seem like hard work. Therefore, to maximise your chance of success, you should only offer products and services that match your customers’ needs.
00:13:20 Introduction to MaxDiff
Outi gives an overview of what the MaxDiff methodology is and when and why to use it. It’s particularly useful for ranking the top and bottom options among consumers from any list of topics, meaning it is a useful way of determining which attributes drive purchase for any kind of business, whether its design, price, brand values, etc.
You can track the evolution of trends, useful when new trends emerge on the market. Screen early-stage ideas e.g. during workshops to obtain results for the next day. Cambri MaxDiff allows you to learn how to serve subsegments of respondents based on their preferences. This helps you identify which kind of subsegments are in your market, so you can choose the ones that are most interesting for you, or create tailored solutions for different groups.
00:16:50 How to set up a MaxDiff test
Outi provides an overview of Cambri’s MaxDiff setup using a real example of how a food brand can be responsible. It’s simple to use and lets you test multiple attributes. You can even define a category for each attribute if you wish. Many of our clients report that this option enables them to create a stronger test setup, since you can quickly move from a more general approach to a more specific focus for a more confident feeling when you get the results. Cambri’s tool colour codes categories in the results phase for a quicker overview and immediate understanding of just how important different categories are.
00:19:13 Getting the results
The Cambri tool automatically converts the list of attributes into questions, using an indirect questioning technique. MaxDiff is a more effective way of finding out which attributes respondents like best or consider more important, by forcing them to choose, even in situations that are unrealistic.
00:28:05 The power of segmentation
Segmentation really helps us understand the marker and create different features. A unique feature of the Cambri tool is that it automatically groups respondents with similar preferences into segments.
In this example, you can see three clear, very different segments, that will help you identify your target segment or decide if you need to make tailored solutions for multiple segments.
00:31:15 The benefits of MaxDiff
Outi summarises why you should count on Cambri and the benefits of this methodology and answers some questions from the audience. Find out what they wanted to know here.
MaxDiff is a useful way of determining and ranking which attributes drive purchase for any kind of business
00:36:15 The Cloetta Case Study
Alexandra explains how Cloetta, a leading packed confectionary manufacturer in the Nordics with many strong global and local brands, used Cambri’s MaxDiff methodology to solve a business problem.
They wanted to become more consumer centric and incorporate the consumer voice into their process. MaxDiff helped them determine which flavour would be most popular among consumers for a new launch, y providing a very clear, actionable outcome. Alexandra also comments on how Cambri provided additional advice and sessions on how to correctly interpret and apply the data collected.
00:51:45 Additional use cases
Outi runs through a list of use cases where Cambri's MaxDiff solution can be applied and closes with a brief Q&A session.
If you'd like to learn more about MaxDiff, check out our article What is MaxDiff and how do companies use it in their concept testing? You can also view the webinar session here.
View our on-demand sessions on our Webinars page. We encourage you to take a look and see what other topics we've covered!