arf webinar: the changing face of research
Post on 23-Aug-2014
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CHANGE IN CONSUMERS’ BEHAVIOR IS CHANGING INSIGHTS
ASK, LISTEN, OBSERVE
THEN NOW
LISTEN, OBSERVE, ASK
2
Almost 60% of Client Research VPs expect major transformation by 2020*
70% of whom expect this to be evident by 2015*38% among total respondents (N=160)
Source: Cambiar Future of Research Study, 2011
Industry TransitionFrom To
Questioning Discussing
Asking ObservingData (collection) Insight (analysis)
Understanding Predicting“The Big Survey” “Data Streams”
Rational Behavioral
Geographically Fixed MobileQuarterly Trackers Real-time
Explore-Create-Test-Launch Co-create
Siloed Converged
Social media has changed business in general and financial services in particular. Financial services used to react to projections based on data gathered weeks previously about recalled or projected behavior and stated opinion. New tools can provide relevant information in near-real time, and managers can react immediately. – Ravi Parmeswar, Citigroup
Criticisms of new approaches on the grounds of representativeness and the absence of demographics miss the point. Some things they cannot deliver, but the things they can deliver are found in no other way and have their own unique and strong value proposition. – Marketing Researcher, Leading Technology Firm
The challenge becomes getting the most relevant insight together. What is the issue and what information bits are critical to deciding this? Information is massive and at senior levels managers are overloaded with data. The art of insight management is to reduce it to the max. A thousand things you can know. Only a few things you need to know. – Senior Marketing Insights Manager, Microsoft
We use social media analysis through data mining historic conversations as stimulus for questions and prompts in ideation sessions. – Suzana Pamplona, Johnson & Johnson
Our vision is to build our brands through lifelong, one-to-one relationships in real time with every person in the world. - Marc Pritchard, CMO P&G
The industry should get away from believing a method, particularly survey research, will be the solution to anything. We need to be methodology agnostic. - Joan Lewis, Officer CMK P&G
If you don’t like change, you’ll like irrelevance a whole lot less. —Joe Tripodi, CMO
Insights from converged data analytics
Identify opportunities for products, service
enhancement & promotions
Trial introductions of new products and service
programs, and promotions tailored to customer
segments or individuals
Success and diagnostics for improvement from customer
reactions & engagement metrics
Traditional Research
Converged Model
Largely Automated
Real-time
Synthesized
Business Issue Focused
Labor Intensive
Time Consuming
Siloed
Which of the following issues have prompted change in how you collect data in the last year SUMMARYsample size = 2229; 95% confidence level
Source: GRIT Winter 2013
What steps is your organization taking to address these issues? Click all that apply SUMMARYsample size = 2188; total sample size = 2229; 41 missing
Source: GRIT Winter 2013
77% Tech/telco72% FMCG
Listening has led to major changes in innovation and tracking
Emotion measurement is part of the standard toolkit
Issues are addressed by mining knowledge vs. initiating MR project
D-I-Y has replaced a lot of standardized outsourced research
Neuroscience and biometrics are part of the standard toolkit
Source: Cambiar Future of Research Study, 2011
QUESTIONS?
Leonard MurphySenior Partner, Gen2 Advisorsgen2advisors.comP: 770 985 4904 M: 678-232-7691S: lennymurphyrhrT: @lennyism
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