In a modern world, what are the best ways to find customer insights?

Ray Poynter - Director Vision Critical University

March, 2014 E-mail: Ray.Poynter@VisionCritical.com

@RayPoynter is about to show the latest #NewMR trends at #JMRX in Tokyo

Agenda

1. The main trends in insights

2. The strengths and weaknesses

3. Integrating the trends with communities

4. Where next?

@RayPoynter is about to share his #NewMR thoughts at #JMRX

2014 Communities Still #1

Insight communities still number 1 #NewMR technique, at #JMRX with @VisionCritical

Online Communities

Mobile Surveys

Social Media Analytics

Text Analytics

Big Data Analytics

Webcam-based Interviews

Eye Tracking

Mobile Qualitative

44% 50%

28% 45%

47% 34%

30% 34%

40% 29%

19% 29%

25% 26%

13% 24%

In use

Clients Suppliers

Big Data

Strengths

• Cheap if you are already collecting it

• Product and service management

• Quantification

Weaknesses

• Not everything is predictable

• Causality vs correlation

• Answering Why?

• Answering What if?

• Answering What else?

Most Big Data projects in 2014 will fail – choose carefully, #JMRX #NewMR #MRX

Social Media Analytics

Strengths

• Authentic voices

• Richer and deeper

• Answers to questions you didn’t ask

Weaknesses

• Does not answer most of the questions you have asked

• Focuses on the world as it is, not as it might be

• Surprisingly expensive

Social Media, good for questions not asked, bad for most questions you do ask, #mrx

Text Analytics

Strengths

• Handles quant amounts of qual data

• Cheaper and faster than humans

• More consistent than humans

Weaknesses

• Fully automated text analytics not very good

• Fully automated sentiment analysis, not very good

• Machine learning approaches not so cheap or fast

Text Analytics, very impressive, but not ready for day-to-day, heavy duty #MRX use yet

Mobile

Strengths

• Mobiles are always with us

• Faster responses

• Adds passive data

• Adds multimedia

Current Weaknesses

• Not everybody has a smartphone

• Not all research is mobile friendly

• Fewer sample options

#Mobile is here, the limitations are temporary, and reducing, get on board NOW! #newmr

Mobile is more than just surveys

Mobile is about much more than just surveys, #newmr #JMRX

APAC insight community of the year SingTel are a great role model for #NewMR

10

Three communities already, more on the way

SingTel shows communities are for rich and developing economies in APAC #JMRX

Private, branded, online customer community

• Private

• Branded

• Customers

• Long term

• Community

Most insight communities are private, branded, online, with customers @vistioncritical

SingTel Digital Advisors, last 6 months

• 65 activities

• App trials

• Concept tests

• Focus groups, online discussions, plus in-person

• Surveys and quick polls

• 53% average response rate (4,400 members)

• Mix of PC, mobile phone, and tablet

• Engagement, co-creations, and innovation

• Ongoing buzz forum

• Innovative and co-creative tasks

• Closing the feedback loop

• Stakeholder engagement – over 500 internal recipients

Social Media, good for questions not asked, bad for most questions you do ask, #mrx

Read more about it

To learn more about communities, check out Vision Critical University @VisionCritical

Making a Difference

@RayPoynter is about to show examples and reasons for insight community growth

Increasing the ROI

Good insight communities have higher response rates, and usually do more projects #mrx

All parts of the business

Insight Community

Insights

Production

NPD

HR

Finance

Marketing

CEO Brand

Managers

Good communities reach beyond #MRX and Insight – to the whole organisation #NewMR

Co-creation, collaboration & crowds

There are more smart people outside your organisation than inside it – leverage them!

Leveraging third parties

Not one company has all the answers, mix and blend your #NewMR solutions

Strategic and tactical

Communities can be strategic and tactical, it does not have to be one or the other, #JMRX

The future?

1. Observational data – passive data

2. Single source data – big data

3. The collaborative economy

4. Automaton + DIY + Consultancy

Automate what you can, provide DIY for what you can, & make money on the rest #mrx

Thank you

Questions?

@RayPoynter is taking questions at #JMRX in

Tokyo, check out

http://www.visioncritical.com/university for more

#NewMR