Our client needed to identify new growth opportunities in spreads, fats, and oils in three markets, due to declining bread consumption, increases in health focus, and competition from new brands and products.
We used social media analytics and an AI toolkit to build a rich taxonomy of relevant terms, to analyse over 300k relevant conversations from a number of social media sources.
We identified six big opportunities, including one for oils infused with ingredients such as garlic, chili or herbs. We identified target audiences for each opportunity, the content to motivate them, and the times of day to reach them via media.
We identified €500m worth of new growth opportunities. Our innovative techniques and use of social media data provided results in one-third of the time and half the cost of traditional opportunity sizing projects.