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Webinar: An unfiltered perspective of the consumer insight interactions part 1
The document discusses the interactions and roles of stakeholders in the consumer insight process, emphasizing the importance of collaboration and understanding each party's contributions for effective insights. It highlights challenges in integrating insights into business strategies and stresses the need for robust processes and communication among team members. The authors advocate for ongoing conversations and a collective approach to harness insights as a competitive advantage.
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Webinar: An unfiltered perspective of the consumer insight interactions part 1
- 1. expect great answers An unfiltered perspective of the roles and interactions between stakeholders of the consumer insight process Part 1 - April 2013 (presented at TMRE 2012)
- 2. A consultant, researcherand client walk into a bar… 1998 2012 2
- 3. It all startedwith a conversation, but evolved quickly Qualitative Research Interviews with 25 "Call to action" Initial hypothesis practitioners packets generation • Management Consulting • Specialized Research Review of recent collective Quantitative firms experiences • Corporate insights validation BCG on going insights organizations benchmarking Additional worldwide survey in progress 3
- 4. Our motivation: whatcan we learn from each other to become an increasingly relevant function? 4
- 5. Climbing the laddernot easy, specially alone... 90% of benchmarked companies in levels 1-2 4 3 Insights as a competitive Strategic advantage 2 insights Business organization 1 contributors Traditional • Senior execs consumer- • Strategic research priority • Stronger consumer focus focused • Involved across functions market research mandate by senior execs • Influence extending • Able to build knowledge base • Little access to senior execs • Mix has strategic focus outside marketing to become a learning • Mix skewed toward tactical • Influence encouraged to • Growing knowledge base organization • Little involvement extend outside marketing • Focused on synthesized • Focused on foresight/ outside marketing • Focused on individual insights across sources prediction across source • Focused on hindsight insights Evolution requires more than just skills improvement, it demands better interaction with industry players Source: BCG benchmarking study; Press searches; Company web sites; Analyst reports
- 6. Improving together requirescelebrating and reinforcing what each of us do well... Corporate Insights Institutional knowledge Research Consulting Firm Business driven Managing the insights intricacies of research 6
- 7. ... while findingthe areas that will make our interactions increasingly successful Corporate Insights Institutional knowledge Research Consulting Engage experts Firm Business driven Managing the insights intricacies of "Less" black boxes research ... and no one best than a friend to speak honestly 7
- 8. What we learned Consulting Selected findings 8
- 9. Structurally, consulting firmscan influence key decision makers ... Focus on insights Research firm Corporate Insights organization Consulting Typical Influence Insights Core insight Extended Executive organization customers brand team suite e.g., Mktg, R&D e.g., Finance, sales Illustrative organization 9
- 10. ... so insightsare directly tied to the business Thinking how the insight will be used is as important (or more) than the process to get it The client The criteria... The questions to answer... What the research tool need... must be able to do... • ... Size of the • ... Brand association opportunity • ... Several • ... options to reposition • Is it a white space for brand? Ability to – Concentrated vs. Fragmented the brand... differentiate – Presence of major competitors • Is there value of differentiation ? Which one • ... to Starting • ... choose? position • ... Brand indexed share of visits Ease of • ... execution • ... • ... Source: BCG project experience (sanitized) 10
- 11. What we've learnedis that we are not always infallible in assessing complexity of the tools Sometimes we are too optimistic.... Day 1 Day 14 Brand 1 - MBC Brand 1 – MBC Brand 1 – CBC + MaxDiff Brand 1 – CBC + MaxDiff Brand 2 – MBC Brand 2 – CBC + MaxDiff Brand 2 – CBC + MaxDiff Brand 5 – BYO + MaxDiff Brand 6 – BYO + MaxDiff Brand 1 - MBC Brand 1 – MBC Brand 1 – CBC + MaxDiff Brand 1 – CBC + MaxDiff Brand 3 – MBC Brand 3 – CBC + MaxDiff Brand 3 – CBC + MaxDiff Brand 6 – BYO + MaxDiff Brand 7 – BYO + MaxDiff Brand 1 - MBC Brand 1 – MBC Brand 1 – CBC + MaxDiff Brand 1 – CBC + MaxDiff Brand 4 – MBC Brand 4 – CBC + MaxDiff Brand 4 – CBC + MaxDiff Brand 6 – BYO + MaxDiff Brand 8 – BYO + MaxDiff 3 Models 6 Models 12 Models 24 Models 4X Cost Source: BCG/SKIM project experience (sanitized) 11
- 12. What we've learnedis that we are not always infallible in assessing complexity of the tools Sometimes we don't want to tradeoff.... Original design Final design "We need to test everything, on everyone" "What we need as burden of proof" Screener Brand experience funnels Screener Last purchase map Brand experience funnels Price optimization (CBC) Last purchase map Emotional claims Price optimization (CBC) Emotional claims Purchase drivers Brand perception Brand perception Category attitudes Source: BCG/SKIM project experience (sanitized) 12
- 13. Key to bringin experts early to save the team (and our research partners) from heartache Who helped evolve the thinking? Complete reprogram of survey and 2 weeks before turnaround by field delays before turnaround by Insights expert team + vendor insights team 13
- 14. We've also learnedthat sometimes our insights counterparts are left in the dark ... there isn't a obvious process to Given our usual stakeholders... close the loop with the insights team Focus on insights "Your team left us with an enormous piece of research ... but nobody in the team had any idea Research how to replicate, let alone how to use going forward firm and explain to the organization" -Senior Director of insights, Retail Corporate Insights organization "We need to learn to be able to replicate this, otherwise it will die very quickly. We need to be able to respond to the organization when they ask us to understand" -Insights VP, CPG Consulting "We need to understand how this will impact our brand tracking studies, our syndicated data requests and our metrics for success" -Insights Director, CPG Insights Core insight Extended Executive group customers brand team suite Typical Influence Source: Qualitative interviews; BCG analysis 14
- 15. Need to formalizea process to leave our corporate counterparts to carry the torch BCG team 1. Joint project 2. Capability leads team build Project Structure Corporate team 4. Process 3. Coaching leads facilitation Strategy / planning Implementation Project Scope Source: BCG Enablement center 15
- 16. What we learned Research firm Selected findings 16
- 17. Agency as acenter of research expertise for the client, help navigate complexity Reassurance Reassurance research firm Peace of mind reliability of competency answers Capabilities Proven Methods Standards Quality Assurance • Quantitative/Qualitative • In market validation • Project roadmap • Data quality skills (case studies) • Database • Checklists (design, • Insight extraction • Body of academic /benchmarking programming, fielding, • Analytical mindset research (back up) • Templates data prep, analysis) • Ability to translate • Proven expertise (in • Mock-up outputs • Manuals business question into house) appropriate methodology • Identifying potential and analysis plan pitfalls 17
- 18. Choice-based conjoint roadmapto guide client 1 2 3 4 Set up / Design Survey design & Conjoint Programming Fieldwork inputs experimental design 5 6 7 Processing Choice file output Choice file Utility estimation recoding (HB) 8 9 10 11 Analysis / simulation Simulator building Analysis of Optimization Reporting simulator outputs algorithm Key interactions with client 18
- 19. What we arenot 19
- 20. 20 What we are not
- 21. More integration isrequired in the industry, become a learning organization • Meta analysis of results across studies • Develop frameworks for more effective research & marketing • Improve inputs before testing / decide without testing 21
- 22. Meta-analysis examples *Examples courtesy of SKIM 22
- 23. Old ways ofpresenting data giving way to new generation of storytellers/iconographers New recruitment needs and profiles within the function 23
- 24. More of… Less of… *Examples courtesy of SKIM 24
- 25. *Examples courtesy ofBuzzBack, Hypothesis, CognitiveMedia, and SKIM 25
- 26. What did welearn? Consultant Client enablement + Manage research complexity Action: Design enablement scheme to work with insight organizations More discipline involving experts early in the process Research Firm Powerful data visualization + Knowledge Integration Action: Broaden recruitment profile (graphic designers, media) Improve client engagement: discuss possibility and feasibility For our next round of webinars: Corporate Institutionalize knowledge + Stakeholder involvement 26
- 27. Where do wego from here? • An ongoing honest conversation needs to take place between key players and stakeholders of the insight process, in order for the function to evolve and avoid perpetuation of counter-productive behaviors • Realization and leverage of what every part brings to the table is a necessary condition to collectively enable Insights as a source of competitive advantage in the organization 27