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THE REVOLUTION IS HERE . . . WELL, SORT OF
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ARF Webinar: The Changing Face Of Research

Aug 23, 2014

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Marketing

Lenny Murphy

How is the research industry adapting to new tools, techniques, and players and what impact is that having on how we view ourselves?

The results of the most recent GreenBook Research Industry Trends study will show how the industry is changing. Get a comprehensive overview of the changes in the marketplace, to arm you with information on what is happening and what it means for the industry as a whole in the future.
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Page 1: ARF Webinar: The Changing Face Of Research

THE REVOLUTION IS HERE . . . WELL, SORT OF

Page 2: ARF Webinar: The Changing Face Of Research

CHANGE IN CONSUMERS’ BEHAVIOR IS CHANGING INSIGHTS

ASK, LISTEN, OBSERVE

THEN NOW

LISTEN, OBSERVE, ASK

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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

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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

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Exploring Insights

Convergence

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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

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Attitudinal

Intrinsic

Behavioral

Page 8: ARF Webinar: The Changing Face Of Research

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

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Traditional Research

Converged Model

Largely Automated

Real-time

Synthesized

Business Issue Focused

Labor Intensive

Time Consuming

Siloed

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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

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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

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Filter: 2013/14; Weight: Weight; base n = 2229; 50% filtered out

Source: GRIT Winter 2013

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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

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A LOOK OVER THE HORIZON

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THE NEW VOCABULARY

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“Things” connected to the internet

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QUESTIONS?

Leonard MurphySenior Partner, Gen2 Advisorsgen2advisors.comP: 770 985 4904 M: 678-232-7691S: lennymurphyrhrT: @lennyism