Kicking COVID-19 to the curb, is Lysol, with its coronavirus killer. And it’s winning consumer love, which is the name of game when it comes to marketing these days.
In two minutes, a virus that has haunted our dreams and countries around the world can be effectively killed and removed from surfaces. Lysol is everyone’s champion. Anticipating great demand for this coronavirus killer, concerns about customer hoarding and price gouging have erupted, while stocks soar. We will explore this and more including:
- How Lysol stands as an example of turning sentiment into dollars – and how your brand can too
- Brands and consumers fighting price gouging and stockpiling
- How a brand can stay one step ahead of their consumers, with consumer and market research
And we will reveal some important statistics, including:
- 39% of consumers misuse household cleaning products to kill the latest coronavirus
- 66% of consumers say brand transparency is key to their support
- 71% of consumers support brands that align with their own ethics
- 42% of social media influencers are hoarding toilet paper!
Lysol Brand Sentiment Translating to Dollar Signs
In disaster, there lies opportunity, and Lysol was poised to capture it. And did. The approval of Lysol by the EPA has consumers swooning with relief as they drive to stock up on this liquid gold. And brand sentiment is soaring along with rising stocks in Lysol’s parent brand Reckitt Benckiser Group plc (RBGLY).
As we can see, three months ago, they experienced a gradual and steady climb of late. And in July, there’s a significant spike:
Lysol was careful to keep the cat in the bag, monitoring the conversation around their products, as they worked to prove Lysol’s efficacy against SARs-COV-19.
Unlike Nano Magic.
Why Monitoring Matters So Much
Newly rebranded from Pen Inc, this nanotechnology company specializing in cleaning applications filed a patent in October of 2019 claiming their cleaning product eliminated the Human Corona Virus 229E with an effective rate of 99.9%. This buzz was interpreted falsely as killing SARs-COV-19 which landed them in the boiling pot of the Securities and Exchange Commission (SEC) over misleading information in the marketplace.
With 66% of consumers saying the most attractive quality in a brand is transparency, understanding the online narrative is crucial for brand health, as the internet is rampant with clickbait, and falsified or downright fantastical headlines. Nano Magic missed the conversation happening online about its brand, causing them to look untrustworthy. They lost loyalty points and consumers.
To reveal how Lysol is being talked about, we look to consumer conversation via digital consumer analytics.
Walking into a mostly positive room, with words attributed to helping educate and eradicate coronavirus is the sweet spot Lysol now finds itself in. And even negative words can be explored, as they offer insights around what the brand may need to adjust to win even more customers:
And these words can change over time, and quickly. Lysol knows how fickle consumers can be, and will surely pay close attention to maintain branding health as they move forward with this product.
And unfortunately, some stores are prone to raising prices on their product well beyond its MSRP, leading to price gouging and hoarding concerns.
Price Gouging & Hoarding Concerns
Everyone witnessed the price gouging of essentials like toilet paper and hand soap. Any brand offering items like this can face these problems.
NY based grocery Quality King, price gouged Lysol products and were sued for this decision when it was found they were selling it for upwards of 9 dollars per can. And where this wasn’t Lysol’s decision, consumers can get cranky and take it out on brands doing nothing to stand against it. It’s not enough to offer a great product, today 71% of consumers want to support brands that align with their own personal beliefs….and price gouging is definitely not one of them.
Drawing from multiple social media platforms, consumers are talking and posting about feeling taken advantage of during this pandemic. And officials are listening.
And here the Justice Department tackles price gouging, fraud and hoarding products…
And when it came to excessive stockpiling, social media users were definitely a part of the problem – 42% of social media influencers say they were hoarding toilet paper. Cottonelle decided to fight back, listening to its customers they asked people to share a square during peak toilet paper hoarding season.
And though that was several months ago, hoarding toilet paper is still on everyone’s mind. In the last month there have been 220,881 mentions of hoarding, and net sentiment is sitting squarely in the negative with a score of -58%.
Consumers are over it. And they want to support brands who support them. The best way for companies to read the room is through digital consumer analysis and advanced AI-powered market research.
Staying Ahead of Consumers’ Ongoing Concerns
Capturing conversation around disinfectants unveils many avenues to explore. From the Production of Disinfectants to Global Agriculture Disinfectants, the conversation is growing, with highlights on how to prevent and kill Coronavirus.
Isolating these clusters to focus in a few areas of interest helps to separate the wheat from the chaff so to speak.
Within these clusters are clues to the current conversation and an insider’s look on where it is headed.
Disinfectant Conversation Direction
Right now, there is a lot of talk around disinfectants and their role in the current pandemic – from cleaning doorknobs to poison control centers – anytime disinfectants were mentioned, the clusters revealed it.
Looking at our timeline of conversation, Disinfectants Production is the largest segment with Disinfectants Market Growth keeping steady pace. And both have been consistent topics for the past six months.
From talk around the leaders of the disinfectant market to how the market is projected to grow worldwide – by $3.1 billion in the US and see a CAGR growth rate of over 7.6% from 2020 to 2027, no stone is left unturned.
The largest spike we see is that of poison control reports where people over-exposed themselves to the disinfectants to keep clean and ward off COVID-19. Brands will do well to continually remind consumers of proper (and improper) use:
Continuing to watch the disinfectant/vaccine talks that are closely and unfortunately linked, brands should use social listening, offering assistance and support when they can, keeping an eye on shifting conversation.
Keeping Consumers Safe from Themselves
For instance, in the timeline above we saw a significant spike in Poison Control, but presently it’s not even on the radar. However, further research reveals telling information from a CDC report that shows:
- 1 in 3 Americans misuse cleaning products
- 39% of respondents have misused a household cleaning product trying to kill the latest coronavirus.
- 19% applied bleach to their food
- Just under 1/4th of consumers knew that only room temperature water should be used to prepare a diluted bleach solution
And this is likely a new issue these brands face. There will undoubtedly be others, and they’ll want to be aware of them as soon as they hit the news cycle. Knowing how consumers are using your product is just as vital as knowing what the conversation is. Using market research together with digital consumer intelligence will help your brand stay on top of the ever-shifting discussion.
We can show you how to use social and market analytics to help protect brand health whenever you’re ready! Be sure to reach out for a demo!