Crowdsourcing. Research. Market Game

Transcription

1 Crowdsourcing Research Market Game ENGAGING WISDOM

2 What is Huunu? ENGAGING WISDOM Bringing Predictive Insights to Every Stage Idea Screening Concept Testing Consumer Trends Package and Promotion Testing Creative Evaluation Huunu, a Prediction Market research platform, captures the wisdom of the community to uncover forward- looking outcomes for better business decision making.

3 Why Huunu for research? Rapid Turnaround Diverse Community Innovative Research Intensity of Response Quantitative Results Qualitative Feedback

4 How can Huunu help you? AS, OR MORE RELIABLE THAN TRADITIONAL SURVEY RESULTS FASTER (2 Days vs 2 Months) MORE ENGAGING & YIELDING RICHER FEEDBACK 95.5% OF PARTICIPANTS ENJOYED THE ACTIVITY DIVERSE COMMUNITY FOR DEEPER INSIGHTS Separate good ideas from great ideas Reduce concept & ideation costs Accurate answers with less effort Integrate research earlier in development process

5 How is Huunu different? Huunu is different from traditional research in that respondents are not asked their opinion, but asked to make a judgment on a future outcome or preference. Positions held by respondents are liquid and can be changed at anytime based on new information. Participants are incentivized and rewarded based on their performance, not just their participation. Participants move the stock price based on their knowledge and confidence in the subject. It is this process of self-selection and investment based on confidence that gives the Huunu its accuracy.

6 How does Hunnu work? #1 Will Google Glass or similar wearable device follow smart phones as the next must have technology for consumers? #2 #3 Google waited too long to launch and people lost interest 2014 Consensus Point Inc. Confiden'al. Simple, three-step process: 1. Select answer 2. Assign tokens 3. Tell us why

7 What does Huunu give you? A Prediction Market forecasts the probability of an outcome, the strength of the prediction, and why this outcome will occur.

8 Is Huunu accurate? Countless studies have shown that Prediction Markets are as accurate, if not more accurate than the alternatives. A high correlation with traditional market research methods, such as survey and conjoint analysis, demonstrate the efficacy of Prediction Markets as a tool for research. A few sample data points regarding Prediction Markets include: How do they compare to other forms of research? Client Prediction market Comparative method Outcome Global food 287 people not screened to be representative Survey of over 3,700 people screened to be representative of target market 95% alignment on top products; Winning product is in development Global hospitality 131 community members MaxDiff study with 3,192 respondents Results almost identical; differences explained by narrower, more skewed Max Diff sample Global financial services 421 community members MaxDiff study with 611 Respondents Identical results Global heath, beauty, and personal care 165 community members Survey to 205 community members Winning product is in development Global media company 243 people (consumers, employees, agency consultants) Comparison to real-world sales Consumer market predictions correct in 3 out of 5 cases (with the other 2 too close to call); employee market correct in 5 out of 5 US Internet and Telecomm 133 community members MaxDiff study with 490 participants Winning offer is going to market MRA, 6/14, Power of Prediction Markets, Julie Wittes Schlack, SVP of Innovation Communispace

9 Huunu is Mobile & Global. Designed for use on PC as well as mobile Huunu is designed for use on mobile, tablet and desktop and available in multiple languages.

10 Case Studies GLOBAL HEALTH & BEAUTY CLIENT CONCEPT TESTING Lowered cost and increased speed to market For a women s beauty product line extension GLOBAL BEVERAGE CLIENT PROMOTION TESTING Identified the most compelling in-store advertising for a cross-promotion GLOBAL MARKET RESEARCH FIRM CONSUMER TRENDS Tracked the latest consumer trends monthly across a variety of categories GLOBAL TELECOM CLIENT IDEA SCREENING Reduced idea filtering from 180 to 80 days companywide NATIONAL HEALTHCARE PROVIDER CREATIVE EVALUATION Pinpointed the most relevant marketing messaging for a hospital chain GLOBAL FOOD CLIENT CONCEPT TESTING Discovered the most trusted brand licensing opportunity for a line of nutrition bars NATIONAL RESTAURANT CHAIN PROMOTION TESTING Uncovered the most appealing meal offerings for a seasonal promotion NATIONAL BEVERAGE CLIENT PACKAGE TESTING Selected the ideal label and name pairings for a wine producer 2014 Consensus Point Inc. Confiden'al.

11 Benefits of Huunu As accurate, if not more accurate, than traditional survey-based methods Very fast turnaround to help make decisions quicker. Gamification attributes make participants more attentive and invested Member experience is much more engaging than surveys Prediction Markets can uniquely leverage the long-term nature of communities Don t need representative sample sizes Lets you understand why, not just what Collaboration is always on & Huunu can be, too e 2014 Consensus Point Inc. Confiden'al.

12 ENGAGING WISDOM For more information and a demonstration please contact: Consensus Point info@consensuspoint.com