IO Consulting - Insight Generation

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Insight - a term thats widely used but rarely mastered.

IO Consulting help businesses get greater return from their investment in market research and insight.

We are an experienced team of insight professionals, providing a range of services that can compliment an existing insight department or bring capability where none already exists. Our approach is unique and highly flexible; we can be available to you for a few hours, a few days or as part of a longer term partnership. Our business allows you to access the skills you need at the times you need them

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IO Consulting - Insight Generation

  1. 1. Insight Generation: 
Creating insight fromknowledgeIO Consulting
  2. 2. Insight; widely used, rarely mastered The statistics* for insight aren’t great: Stage 4 Stage 3 The Foresight o  60% of companies don’t see their insight as a source Stage 2 The Strategic Leader of competitive advantage Influencer Stage 1 The Business Contributor o  54% don’t agree it provides good return on The tactical investment order taker o  Only 28% feel their company provides sufficient funds for insight o  90% of companies fail to move beyond using insight as a ‘manager rather than a leader’ 90% of businesses fall in stages 1 & 2* •  The reasons why so many companies struggle with insight are complex – but we found internal factors play a significant role “Our understanding of consumers was insufficiently deep, so the opportunities created from insight weren’t large •  15 years ago knowledge was power, transforming enough” VP, Unilever knowledge into ‘insight’ is now the name of the game* Sources: Boston Consulting Group & IO benchmarking
  3. 3. But what actually is insight?•  The debate over how you define “an insight” has gone on (and on, and on and on) for many years. Quite frankly spending time debating its definition can be a waste of time.•  For what its worth, most businesses end up with a definition that is interesting but hard to do much with such as: “A penetrating discovery that gets to the heart of customers’ and consumers’ motivations and behaviours and/or market trends and dynamics that translates into business opportunities”•  We prefer to define insight slightly differently and instead think about three criteria; 1 2 3 It’s built on solid It excites people and It inspires foundations goes beyond the (profitable) action obvious
  4. 4. So how do you get to insight? One way to develop solutions •  When thinking about how you develop insight its important to remember why you are wanting to generate insight in the first place – it is often in The Challenge response to an issue or challenge your business faces The Solution •  As a result, insight is there to stimulate our thinking, drive our direction and avoid us leaping to the same old solutions you, and probably your competitors, have reached many times before. The better way to develop solutions •  That is why it is usually helpful to have a tool, or at least a framework for thinking to guide insight development in the context of the challenge you’re The Challenge Key Questions trying to address. Data Understanding & Solutions Insight
  5. 5. The principles of insight generation tools•  There are probably more trademarked insight processes than there are great insights. Whether they come from a marketing consultant, an ideas generation company or an internal corporate training program they all generally do the same thing:•  They get you to think in a dive rg ent way and then think in a converge nt way•  In sum, you start focused, making sure you understand your issue. Throw open the flood gates to all possible information that could help and stimulate. Then interrogate and connect that data, getting under its skin until you find real nuggets you can hone into insight and use to inspire action•  Our experience in a variety of businesses allows us to tailor an approach to insight generation drawing on best practice from a variety of B2C and B2B environments
  6. 6. How can we help?•  We’ve already helped a number of diverse B2C and B2B businesses develop and embed their own approaches to insight generation•  We would be happy to be involved in any aspect of making insight work better in your business. The following three areas summarise where we feel we can add most value: 1 2 3 Diagnosis Development Delivery •  Determining the current •  Creation of a tailored •  Application of our own approach to insight approach to insight bespoke approach to generation in your generation for your insight generation to your business and how this business business challenges could be optimised •  Development of the •  Is there a consistent necessary tools as well as •  Facilitating the generation understanding of what an an approach to rolling out of insight against live insight is, are they being and embedding best business issues used and, if so, how good practice within your are they? business
  7. 7. IO Consulting: a unique perspective •  IO Consulting specialise in helping businesses maximise return from their investment in consumer and customer understanding. We either work alongside existing client side insight teams or bring capability where none already exists •  Our team have lived through the challenges of insight generation from both sides of the fence as ex-heads of client-side insight and as founders of successful research and innovation agencies. •  We believe in tailoring our approach to our clients and avoid ‘off the shelf’ solutions. The diverse backgrounds of our team mean “Before you become someones that we have a strong appreciation of the varying insightconsultant, make sure you walk a mile in challenges across different markets and sectors their shoes. That way, if they don’t like what you say, youre a mile away from them and youve got their shoes” •  Our experience of both leading insight projects for clients as well as reviewing and optimising their insight infrastructure gives us a unique perspective – understanding the needs and challenges of insight practitioners and stakeholders alike
  8. 8. Three reasons to work with IO ConsultingWe are able to bring you the insight capability you need in the form you need it. Our offering is unique, givingcompanies a new way to access the skills needed to turn insight into profitable actionResponsive•  Our team is ready to go when you are, we are able to hit the ground running•  No job is too large/ small. We’re available to you for a couple of days, a couple of months or as part of a longer term relationship Flexible •  Our support can evolve with the project. Unlike single freelancers we can flex specific capability and experience in/out as needed •  Any individual can also draw on the wider experiences and best practice developed within IO ConsultingAccountable•  Our team members are highly experienced with the skills necessary to turn insight into impact•  In every project we hold ourselves accountable to that impact, not simply the number of days worked•  A senior director will always be involved in a project and if our team do not deliver, the buck stops with us.
  9. 9. Thank you For more information please contact: Morgan Arnell morgan@i-out.co.uk +44 7801 045864

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