Driving product innovation with CompeteAI
A leading consumer product manufacturer sought to develop a new shower filter that revitalized water. The Innovation team aimed to learn from the mistakes of similar product manufacturers, creating a product that met customer expectations and a messaging strategy that naturally resonated with the target audience. Fuld & Company partnered with the client to leverage deep customer insights and AI-driven analysis using CompeteAI to guide product development and messaging.
Fuld’s customer-centric approach produced impactful results:
- 20+ Key Learnings: Actionable insights were gathered across critical themes such as product quality, performance, long-term usage, value perception, and customer service.
- 30% Boost in CSAT: By aligning the product more closely with customer expectations, the client achieved an estimated 30% increase in customer satisfaction for future product iterations.
How We Did It
Fuld & Company employed a robust, data-driven approach to capture and analyze customer feedback, utilizing CompeteAI to guide and accelerate their product innovation process:
- Customer Review Data Collection & Cleaning:
We identified key online sources where customers researched and purchased shower filters. Data was collected, cleaned, and standardized to ensure accuracy, setting the foundation for actionable insights. - Sentiment Analysis Using AI & LLM:
Leveraging AI and large language models (LLM), we analyzed customer reviews to assess sentiment and extract valuable insights such as common keywords, product use cases, and overall satisfaction. This informed product development decisions and messaging strategy. - Predictive Model Development:
A predictive model was built to pinpoint keywords and product features that most strongly influenced customer ratings. These insights helped inform the client’s marketing and messaging strategies to align with customer preferences. - Innovation Shortlist & Feasibility Evaluation:
Based on the gathered insights, we created an innovation shortlist of potential features for the new product. We further evaluated these options through targeted customer surveys to assess their viability and customer appeal.
