Five Brilliant Ideas to Boost your Insight Development

Insights are the pot of gold that many businesses dream of but rarely find. Why is that? Are you one of them? If so then I have some practical ideas on how you can get much, much better at insight development.

 

#1. Insights rarely come from a single market research study

Management often thinks that insight is “just another word for market research”. I remember one of my previous CEOs saying exactly that to me just before he addressed the whole market research and insight global team at our annual conference. I’m sure you can imagine what a panic I was in as he walked up to the mike!

Insights are demanding to develop and are rarely, if ever, developed from a single piece of market research. Each market research project is designed to gather information in order to answer one or more questions. Whilst it may enable a business to make a more informed decision based upon the objectives, insight development is quite a different process.

Insight development involves integrating, analysing and synthesising all the data and information you have about a category or segment user. Then summarising it into knowledge and turning that knowledge into understanding. Only then are you ready to develop an insight.

All brands should have (at least) one insight on which its image, personality and Big Idea (for communications) are built. For example

  • AXE (Lynx in UK): (young) men want to attract as many beautiful and sexy women as possible. This is one of their newer ads, where the seduction is a little less in your face and more subtle – but still there.

 

  • Haribo Starmix: There’s a child inside every adult. This “Kid’s Voices” campaign has been running for years and manages to surprise and delight with each new episode. Which is your favourite? Please add a comment below.

 

  • Dulux sample paint pots: I love to decorate my home, but I don’t want to look stupid by choosing the wrong colour. Although these are now a standard offer for many paint brands, Dulux were the first to understand the problem facing potential home decorators.

 

Dulux sample pot example of insight development

 

Insight development will provide the basis on which you will define the actions that are needed to change the attitudes and / or behaviour of your target audience. It also provides a solid framework on which to build your Big Idea for your communications’ strategy.

 

#2. Insight development is based upon a desired attitude and/or behavioural change

When your sales, marketing or management look to improve their business results, their real objective is to change the attitude and/or behaviour of your current or potential customers. For example:

  • From buying a competitive brand to purchasing yours.
  • From using your services once a month, to once a week.
  • Moving customers’ beliefs about your brand from a traditional or classic brand, to a more modern image.
  • Changing customers’ perceptions about the price of your brand from expensive to good value for money.

Because insights are based on a desired change in your customers, they usually contain an emotional element that is communicated through advertising and promotions. Continue Reading

The New Qualities for Customer Service Excellence

The current pandemic has clearly highlighted those companies who care about their customers and who provide them with customer service excellence.

If you claim to be customer centric are you sure you’re truly walking the talk and not just talking about customer service excellence? Many companies are and the pandemic has brought them into the spotlight.

A few years ago I was prompted to question this of the local Swiss cable company Cablecom. It had been desperately trying to address a long-term deficit in customer service excellence versus its main competitor Swisscom.

Swisscom has made customer service their MSP (main selling point or value proposition) and they are renowned for putting their customers first. Cablecom, on the other hand, had, until then, been trying to win customers through aggressive price cutting. In today’s connected world, especially when internet connection is concerned, dissatisfied customers will be quickly heard – across the net.

Back to the incident that prompted this post. After a few days of being ignored by Cablecom – my perception at least because my emails and phone calls were not being answered – I’m somewhat embarrassed to say that I resorted to Twitter.

It is more than five years ago that Twitter was first referred to as today’s call centre. Social media usually guarantees a quick response whereas contacting customer services through the usual channels often results in nothing.

 

What makes a great customer care centre?

Customers these days expect a response in minutes or hours rather than days. Recent research shows that 88% of customers expect a response from your business within 60 minutes, while 30% expect a response within 15 minutes or less! How good is your own customer service?

Most call centres today are a frustrating if sometimes necessary experience for customers to endure. In many cases, they are automated, with an often long and complex self-selection process of button pushing to arrive at the department one needs – if you are lucky that is!

Usually, the result of all that effort is just a recording that either announces that the department needed is not open at the moment, or that the collaborators are currently busy and to please stay on the line at best, or to call back later most often.

We are next subjected to music supposedly designed to calm our nerves, interspersed with messages suggesting alternatives to waiting on the line: going to the website to find a solution, to check their available FAQs, to complete a contact form, or to send an email. And then, of course, to add insult to injury, we hear the infamous message about our call being important to the company! Really? If so you’re not showing it, you’re not walking the talk.

Companies that have understood customers’ frustration with help-line queues have found alternative solutions, such as arranging a callback or providing sufficient staff to cover the busiest times, or at least to be available when the customer is most likely to need support.

Today there is no excuse for a consumer goods company to not be ready to help their users when they need it the most; for example:

  • Early morning or late at night for personal care products
  • Breakfast, lunch and evening meal times for food manufacturers
  • Evenings and weekends for TV and technology products

Whilst in a few cases, there may be customers who use Twitter to jump the call centre queues, in most cases, it is a customer’s final cry for help after being frustrated by long waits on their careline calls, or self-service selections that led nowhere.  Continue Reading

How to Improve Customer Centricity in Hospitality

The title of this week’s post might surprise you. After all, the hospitality industry should be highly customer centric, as it relies on satisfying its guests.

However, it can learn a lot from consumer packaged goods (FMCG/CPG), as I shared with industry experts at a Faculty Day of one of the leading hospitality schools in Switzerland. Having spent most of my career in consumer goods, I was invited to share what the hospitality industry could learn from the industry. From the reactions at the end of my talk it seems that the answer is a lot!

It might surprise you, but the two industries have a number of similarities. They both (should) have their customers at their heart. And they are both founded on pleasing and hopefully delighting their clients in the quality of the products and services they offer.

 

During my presentation, I shared many ideas; here are a few of the points I covered:

 

#1. From ROI / ROR to ROE

There has been a lot of discussion in the past few years about the need to move from a return on investment to a return on relationships. While I agree with the importance of relationships, I believe that what we should be talking about is engagement. Despite many books touting the need for our customers to “Love” our brands, in reality, I’m not sure that any of us want to have a deep relationship with brands.

The relationship is based on more than just the brand. It is founded on trust and confidence in the product, the brand’s website and their engaging communications. Think Coca Cola and Red Bull as great examples of this.

 

#2. Build Relationships with Strangers

The hospitality industry is based on serving and satisfying its guests. But in today’s connected world it also needs to consider people who are currently strangers – but could potentially become guests. These may include the friends of past guests, who have heard about the hotel or restaurant and are interested in visiting it for themselves.

One good example of this, but I know many hotels are also doing it, is the Rosewood Mayakoba resort in Mexico. This wonderful hotel encourages its guests to photograph their experiences during their stay at the resort and then to post them on Facebook.

This not only provides free publicity for the hotel, but also enables it to start engaging future guests before they even arrive. In addition, the posts will certainly have a positive influence on website visitors. And the guests who publish their photos, will have an even stronger positive impact on their friends and followers.  After all, they will more than likely have similar tastes and desires.

 

#3. Value is more Important than Price

Having additional control of our lives today, means that customers are re-evaluating what they are offered. They have higher expectations and are more discerning in their choices. They expect recognition at every touchpoint, even if in reality their decisions are influenced by their peers, more than by traditional marketing. Continue Reading

The 6 Best Ways to Show you Respect your Customers

More than one year after the introduction of GDPR in Europe and the CCPA in California, I wondered what has changed. And more importantly, I got to thinking about customer privacy and how to build a mutually beneficial relationship whilst also respecting it.

Customers don’t want to be automatically segmented and followed as they go about the web, viewing different sites. A recent article on Business2Community by Owen Ray said that

The tracking cookie is crumbling. Smart cookie-blocking technology led by Apple’s Intelligent Tracking Prevention (ITP) and Firefox’s Enhanced Tracking Protection (ETP) now block third-party cookies by default, and even Google’s Chrome will soon get controls that let consumers block cookies.”

If you want to understand more on the topic of cookies I highly recommend this two-part article.

Companies who are truly customer centric know that it is important to build a mutually beneficial relationship where there is something for both parties in exchanging information and services. Too many businesses ask too much of their customers, with little if anything in return. I believe this is one of the major reasons that customers today are becoming sensitive to what and to whom they give any information about their interests, habits, needs and wishes.

I, therefore, thought it was useful to review the major points to keep in mind, when a business wants to collect information about its customers in order to offer products and services that better meet their wants and desires.

 

1. Ask Permission to Gather Information

This should be a no-brainer and yet I still find myself on lists to which I didn’t subscribe! You too?

Whether you are connecting with your customers by mail, phone, email or the web, you need to first request permission to ask any questions and to gather the information you are looking for. Not only should you ask for consent; if you are not in direct personal contact, but connecting via email or the web, you should also double-check that permission. You have to ensure that the agreement has been given by your customer and that they are still ready to provide the information.

Being attentive to privacy when starting to build a relationship is vital and shows you respect your customers. It also means asking them to confirm their consent not once, but twice. Double opt-in as it is known, ensures that your customer is correctly identified and that they have indeed themselves agreed to provide or receive information, or to be put on your mailing list.

 

2. There Must be Mutual Benefit

When your customer has agreed to provide information you need to thank them in return immediately. This can be as simple as offering coupons for your products, some valuable information not easily available elsewhere, a free guide or e-book on a relevant topic, or special privileges such as club membership or express shipping. Something that shows them that they were right to agree and that you value their information.

Another thing to keep in mind is not to overwhelm them by asking everything in one go. Continue Reading

Is Packaging Part of Product or Promotion? Should it be Both?

Which did you answer subconsciously when you read the title? Do you consider your packaging to be a part of the product, protecting its contents and framing its on-shelf life? Or do you consider it to be an integral part of your connection with your customers at an important moment of truth, that of purchase and usage?

If you answered both, then I believe that you are making maximum use of your packaging or at least you recognise its potential for communication.

If you answered only one of the choices, then you may be missing an important opportunity. Let me explain, with a few examples.

 

People don’t read instructions

We all expect most things that we use or consume to be intuitive these days. In other words, we assume that we will understand how to build / cook / use them without reading the manual / instructions.

 

If you are like most people – myself included – this has nothing to do with the complexity of the product concerned . I myself will only turn to the instructions when something doesn’t work: I end up with left-over screws when mounting a flat-pack piece of furniture, or I can’t achieve multi-recordings on my smart TV or DVD recorder.

In the article How Likely Are You to Read the Instructions they link behaviour to personality types. It makes an interesting read and offers at least some explanations why many (most?) of us still don’t read instructions.

Since the coming of the internet we have access to more and more information, we seem to be reading less and less. Therefore we need to ensure that any vital information is called out in some way on the packaging – and perhaps visually as well.

 

People do look at packs

Whether it is the cream we put on our faces, the cereal we eat for breakfast, or the dip that we offer to friends on match night, there are moments when we are faced with packaging for more than a split second. It is at these times that we are likely to read at least some of what is written on the pack.

It therefore makes sense to provide more than just a list of ingredients. After all you have your customer’s attention.

 

Here are a few examples I have come across recently:

Our customers’ attention is constantly pulled in all directions today, with thousands of messages pushed at them, from so many channels, products and services. Capturing their attention is more likely to be successful when they are open to learning about your product, that is to say, when they are actually using it. It therefore makes good business sense to use packaging more creatively; wouldn’t you agree?

For more information on the support we can provide in product innovation and branding, please check out our website here: https://www.c3centricity.com/training

This post is regularly updated and expanded from the original published on C3Centricity.

 

 

Continue Reading

12 Things you Need to Know about your Target Customers

How well do you know your target customers? I mean really know them? Are they men, women, young, old, Fortune 100 companies, local businesses?

If you can at least answer that, then you have the basics, but how much more could you know about them? Can you answer the following twelve questions?

I was recently working with a local service company who was looking for help with their online presence. They were keen to get more active on social media and had asked for advice about the best platforms, optimal frequency of publishing and possible content ideas.

However they were in for a surprise. Rather than getting straight onto the “sexy” topic of social media, I started by taking them through the basics of target customer identification. Lucky for them that I did! When we had finished the exercise, we had actually found five different targets for them to address, rather than just the two they had been addressing until now. This clearly would have an impact on both where, what and how they communicated online.

These are the twelve questions that enabled us to brainstorm, identify and then complete a better and more complete description of their target customers. Their use also resulted in clear differentiated segments for their services – three more than they had originally thought! How would you like to double your own market potential? Read on:

  1. WHO DEMOGRAPHICS: OK this is usually a “no-brainer” and is how most organisations describe their customers. Not really original and definitely not competitive, but still the essential foundation.
  2. WHAT THEY USE: Whether you are offering a product or service, you need to know what your customers are using today. And not only for your category, but in adjacent categories too. What do they use – if anything – if your product / category is not available?
  3. WHAT THEY CONSUME: Here we need to underst and what types of information and media they are consuming; what do they read, watch, listen to in their spare time. Which social media do they use, what websites do they consult on a regular basis?
  4. WHAT THEY DO: How do your customers spend their time? What type of lifestyle do they have? What are their hobbies? What do they do all day, and in the evening and at weekends?
  5. WHAT THEY BUY: This is where you describe their current category purchasing habits. How frequently and what quantity do they buy? Do they have regular buying habits? Do they do research before buying or repurchasing? Do they compare and if so how, where, why?
  6. WHERE THEY CONSUME: Is the category consumed in home, in work, on vacation? With friends, with their partner, with friends? Are there certain surroundings more conducive to consumption? What makes it so?
  7. WHERE THEY BUY: Do your target customers have certain places and times they buy? Is it an habitual or impulse purchase? Is it seasonal?
  8. WHERE THEY READ: Today “read” covers not just traditional media but new media as well.
Continue Reading

10 Inspiring Quotes on Underst anding & Insight

Last December I shared 13 of my favourite marketing quotes; if you missed it you can read it HERE. The post received the most reads and likes of any I have published, ahead even of the list of my preferred Infographs (see HERE).

It seems we all love great quotes to inspire our thinking and motivate our actions. For this reason, I thought that as we have been discussing insight development for the last month, I would share my favourite quotes on the topic with you.

Quotes are a great way to start or end a marketing presentation and to bring home an important point to your audience. As before, I have added some actions inspired by each quote that you might want to take. Enjoy!

#1. “There is a great difference between knowing and underst anding: you can know a lot about something and not really underst and it” Charles F. Kettering (American inventor)

ACTION: This gets to the essential point of why we often struggle to get to insight. Take the time to make this important step from knowledge to underst anding, before rushing into insight development.

#2. “Remember your past mistakes just long enough to profit by them” Dan Mckinnon (Author)

ACTION: In fact this could apply as much to successes as to failures. We really should start all attempts at underst anding our customers, the market or a situation, by reviewing what knowledge is already available. This will ensure we don’t run unnecessary research and analysis.

#3. “Their lives are a lot different from ours. We want to gain an underst anding of their daily lives” Ram Kolluri (Author)

ACTION: In most businesses, although we may be using our company’s products and services, we are generally not an “average” customer. Therefore don’t consider whether YOU like something or not, but rather whether your customers will.

#4. “If you underst and everything, you must be misinformed” Japenese Proverb

ACTION: A nice reminder that we will never know everything, however long we work. In today’s rapidly changing environment, what we know about our customers is almost always out-of-date. Continuous monitoring, made easier today by social media, is an essential part of customer underst anding.

#5. “If you want to underst and today, you have to search yesterday” Pearl Buck (Nobel & Pulitzer Prize fiction writer)

ACTION: It is essential to be forward thinking in order to be prepared for future risks and opportunities. When market share or br and equity decline it is (almost) too late. Scenario planning is a great way to stay ahead of the curve, and makes trend following more competitive.

#6. “There is nothing so terrible as activity without insight” Johann Wolfgang von Goethe (German poet)

ACTION: And the reverse is also true: insight without activity is just as worthless. Often we want to rush into action before really underst anding a situation and taking the time to analyse, underst and and develop a true actionable insight. Continue Reading

Getting to Actionable Insight

Last week I shared the first three essential steps to improved insight development, which covered setting the objectives, forming the team and reviewing the available information and knowledge. If you missed it or would like to re-read it before continuing then please go HERE.

This week I will complete the process with the remaining three steps and also provide you with some tips on actioning your insight once developed. After all, if you don’t take action nothing will change for your product, br and or service.

#1. Walk in your customers’ shoes

I am always disappointed how social media has encouraged marketers to stay behind their desks instead of getting out and meeting their customers. They just don’t seem to be going out and getting in touch with them as much as they used to. Is that the case in your organisation? Although you can certainly learn a lot about your customers’ opinions and even needs online, it is only when you take their place that you get the chance to really get their perspective.

Walking in your customers’ shoes can be done in numerous ways and will depend upon the issue or opportunity you have identified, as well as the underst anding you have gained from reviewing all the information you have. You could for instance:

  • Go out shopping with a fixed budget and purchase items for an evening meal of your target customer (a couple of mother of three kids). This may help you underst and why your target customers are buying the competition.
  • Compare competitive offers online for a new service you would like to propose. Is your website as user-friendly as your competitors’? Have you thought of all the important elements you need to include?
  • Call up a number of competitive manufacturers of the same product that you offer and ask questions about its uses, reliability etc. Do your own staff provide the same information? Are they as knowledgeable, credible, empathetic?
  • Role play your target customer in using your product and identify opportunities to improve for instance its packaging. If your product is used by mothers of toddlers, is it easy to open with a baby in your other arm? If your product is used in certain dem anding surroundings, such as outdoor, in the car, in the country, at night, is it easy to open and consume?

Whilst walking in your customers’ shoes, you should be extremely sensitive to any pain points in considering, evaluating, shopping and using your product or service. If you are looking to define a completely new offer, then it is the pain points of your competitors’ offers that you are looking to identify. Taking your customers perspective, rather than just observing them, can provide a wealth of information you might not get in any other way.

#2. Fill the gaps

Having done a complete review of all the available information and knowledge about your customer, including walking in their shoes, it is important to turn it all into underst anding. Continue Reading

Are you into Insights or Information?

A few weeks ago I shared some ideas on developing insights. (You can read the post here) It certainly struck a chord with a vast number of you, judging from the comments and acknowledgements many of you sent in. I really appreciated them all so thanks a million.

This week I thought I would take insights development even further, by proposing some steps to take for those of you who are still struggling, or would like to upgrade your own process. Often we stop at the information or knowledge stage and thus never get to real insights. This is such a disappointment, after all the hard work of data gathering and integration.

In January Forrester wrote an article suggesting that 2013 was going to be the year for market insights. A couple of months on, things don’t seem to have advanced much, so hopefully this post will enable your own organisation to advance and to get ahead of the competition.

#1. Be precise in your objectives

As mentioned in the previous article, your objective for developing an insight should be presented as a desired behavioural change in your target audience. For example, if you are looking to increase your market share, you could be looking to:

  • Find a way to convince competitive br and purchasers to buy your br and instead

If you are looking to improve your image, your objective could be:

  • Find a communication platform that resonates better with your target audience, so they consider your br and in a new light

If you are looking to reverse a sales decline, it might be:

  • Underst and how to move your shoppers from monthly to weekly purchasing

Identifying the behavioural change you are looking to encourage is the first step to uncovering a true insight.

#2. Involve a wide range of experts

Insights are not the sole responsibility of the Market Research & Insight Department. Everyone in the company can bring valuable information and underst anding to the identified opportunity. Therefore, involving people with a wide range of perspectives can make insight development both easier and more effective. Gathering together a group of experts to provide a 360 perspective of the category or br and users could mean including:

  • R&D, who can bring underst anding of available internal & external technical skills
  • Operations can share current defects and development aspects
  • Sales can add retail perspectives, including distribution, packaging and shelving limitations or opportunities
  • Marketing will provide the communications, image, equity and competitive environment
  • Customer services can add current customer sensitivities, problems or suggestions
  • Finance can highlight any budgetary limitations and ensure financial goals are met

The group you bring together will be a function of the behavioural change you are looking to make. However I personally believe that the exercise should be run by your market research and insights team or external experts, since it is their profession to underst and people and behaviour. They also will have the widest and most detailed perspective of anyone in the company

#3.

Continue Reading

The Magic of 3: Taking a New Perspective

Like many successful entrepreneurs, I enjoy helping local associations with their marketing problems whenever I can. It seems that often simply offering a new perspective can be all that is needed to move things forward. 

Recently, I ran a re-positioning session for my local outdoor sports association and during it, I realised that many of the things we were doing together would also be of value to other organisations, big or small, who are in a similar situation.

For this reason I share some of the brainstorming we did, in the hope that it will inspire you to try something similar.

Background completeness defines the outcome

The president of the association asked for my advice because they were losing participation in their organised events. As a keen member myself, I offered to run a brainstorming session with his committee members, to see if together we could find some solutions. I started by gathering information from all the guides, which in itself was a challenge. As motivation was low, response rate was only around 25-30% and even then some of the responses were only general comments rather than specific responses to the questions asked. Things were even worse than I had anticipated!

However, this actually provided me with the “burning platform” that I presented to the president. If he didn’t address the issues immediately, I told him that his organisation wouldn’t exist 2-3 years from now! The low response rate to the study and the drop in event participation already confirmed this, but he hadn’t “wanted to see the facts”. This is where an external perspective can be invaluable.

Whenever you are faced with underst anding a situation, it is vital to start with a review of all relevant data and knowledge, and if incomplete, to complement it with an additional information gathering exercise. If you can’t precisely assess the current situation and identify all the relevant issues, your resultant brainstorming will be less effective than it could or should be.

Prioritising 3 areas only increases the level of success

It was clear from the answers I did receive that there were a number of related issues. The low participation of the organised events, was leading to the low motivation of the guides. The low awareness level and lack of visibility of the events, led to low participation in them. A vicious circle it was imperative to break. One positive sign however, was that past participants were very keen on attending future events, so it wasn’t the “product” that was at fault; people just didn’t know about them.

Another finding, that I often also see when addressing issues with my clients, is that the target audience for this association’s events, was ill-defined. Each guide had a different perspective of the people they were trying to attract. They were being defined as children, schools, companies, ladies 40-65 y.o. expatriates, those interested in history / geography, etc etc. As you can see, a wide variety of answers that wasn’t going to improve the overall cohesiveness of the association. Continue Reading

Are you Happy with your Market Research?

Next week is the official start of Spring in Europe, although in the US you have already moved your clocks forward by an hour.

Therefore, this seems to be a good time to review what market research we are running and spring-clean our toolbox in line with our new company objectives. If you would like some help in doing this then please read on for some original ideas on how to make it all easier.

In order to decide on the tools you need, it of course depends upon the maturity of your market, the size of your budget, as well as the position of your br ands in their life-cycles.

Last Spring, we used the 5Ps of marketing as a basis for the review of the market research toolbox; if you didn’t see it or would like to re-read it then you can find it here. This year I will be taking into account the three elements mentioned above and looking at how you might adapt the tools in consequence. Whatever stage your br and is in, however, there are some metrics that you will always want to follow. These include awareness, usage, product performance versus competition and advertising & communication (including pack and web) effectiveness.

 

Market maturity

Are you competing in a mature category or is it still growing strongly? Mature markets tend to change more slowly; consumers have their purchase habits settled and in some cases choose from amongst a portfolio of br ands, between which they switch depending upon current promotions.

If you are competing in such a market, then you can probably manage with monthly or bi-monthly or even less frequent data about stocks, pricing and shares. Unless a newcomer is launched onto the market, many mature categories have br ands that are being “milked” by their manufacturers, with perhaps little investment in communications. Therefore it is price that usually dominate share changes and can to a large extent be predicted.

In terms of market research needs, retail audits, price tracking and promotional monitoring are all important metrics to gather. Br and Image studies are also important, but can be limited to every few years, when real changes are more likely to be recorded. Too frequent measurement of a static market is likely to show only noise from sample error rather than true shifts in image. If you are in a service industry, then loyalty and satisfaction (NPS) metrics are also useful. (If you’re not quite sure what NPS is or how to use it, then HubSpot did a great Infographic a few months back that I recommend reading)

If however, you are competing in a new or strongly growing category, you will need far more frequent data in order to make informed decisions. In these cases, retail chain data, shares, stocks, out-of-stocks and pricing will be vital to follow, ideally on a weekly basis. Br and Image data should be gathered annually, but everyone should underst and that in a fast moving market, things can alter rapidly, so the ratings are merely snapshot comparisons versus competition. Continue Reading

Is there a Future for Insight Departments? Five Actions to Help you Decide

Many organisations have revamped their Market Research groups as Insight Departments in the past five to ten years. However, it takes more than a name change for those involved to achieve the recognition they deserve.

If you work in or with such a department, then read on, as I have some ideas on how you can achieve this.

Last month Forrester issued the results of some research they had done looking into the Future of Market Research in 2013. Their conclusions, even if dated today, are still highly relevant:

  1. 2013 is the year of truth for market insights: their future will depend on how successful they are at getting increased investments and tapping into alternative information sources than just market research
  2. Market insights departments need to invest in knowledge, technology and skills: the group will need to better respond to the fast-paced management need for the customer understanding that can impact their business decisions
  3. Vendors have to show their worth: suppliers have become commodity providers as they have allowed their clients to select on price more than differentiation.
  4. Future market insights solutions have to connect the dots: single source is no longer sufficient – if it ever was – and vendors need to be able to better respond to the need for 360 degree perspectives.

Whilst I certainly agree with these conclusions, which in fact impact both supplier and company insight professionals, I believe that most of these needs are not really new.

Some more forward-thinking organisations have in fact already identified and adjusted to these changed needs.

So what is there to do if you haven’t? How do you prioritise what needs to be done in your organisation? Here are my top 5 tips:

 

#1. Find out What Management Really Needs

It is amazing how many market research and insight groups still have little, or no contact with top management. So how can they possibly be perceived as value creators for the business?

It is not enough just to attend the presentations of the business plans or to get a copy of them to read afterwards. You need to talk with those who wrote them and those who will implement them.

Ideally, you should be instrumental in helping to draw them up. Get out of your offices and into the boardrooms and hallowed top-floor offices. Listen hard and ask tough questions. Make sure you understand where the company is going and your role in getting there.

 

 

Well those are my starter for five. What else would you add to help bring insight departments into the center of the brave new world of customer centric organisations?

If you carry out these first five steps that I have mentioned, then you will start getting more appreciation for the real value you are adding to the business. And then perhaps your budgets may even be increased, which will then lead to even greater value. Now that’s what I call a win-win and a really bright future for everyone in Insight! Continue Reading

I hope you enjoy reading this blog post.

If you want me to catalyse your growth and profitability, just book a call.

Join Global Customer First Strategists!

Get our latest posts before everyone else, and exclusive content just for you.

* indicates required

Send this to a friend