What The Newest GRIt Report Tells Us About The Future Direction Of Insights
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Presentation to AMSRS on the changes impacting the marketing research industry, current results of the GRIT report, and a look into how technology will likely change the industry in the future.
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What The Newest GRIt Report Tells Us About The Future Direction Of Insights
- 1. . . . WELL, SORT OF
- 2. CHANGE IN CONSUMERS’ BEHAVIOR IS CHANGING INSIGHTS THEN NOW LISTEN, OBSERVE, ASK ASK, LISTEN, OBSERVE 2
- 3. The Market Is Speaking 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 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 If you don’t like change, you’ll like irrelevance a whole lot less. —Joe Tripodi, CMO 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 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
- 4. Traditional Research Converged Model The New Paradigm
- 5. Attitudinal Behavioral Intrinsic The Holy Trinity Of Data Types
- 6. Industry Transition The Methodological Shift From To Questioning Discussing Asking Observing Data (collection) Insight (analysis) Understanding Predicting “The Big Survey” “Data Streams” Rational Behavioral Geographically Fixed Mobile Quarterly Trackers Real-time Explore-Create-Test-Launch Co-create Siloed Converged
- 7. THE REVOLUTION IS HERE . . . WELL, SORT OF
- 8. GRIT Sample Characteristics Source: GRIT Q1-Q2 2014
- 9. Source: GRIT Q1-Q2 2014
- 10. Source: GRIT Q1-Q2 2014
- 11. Source: GRIT Q1-Q2 2014
- 12. Source: GRIT Q1-Q2 2014
- 13. Source: GRIT Q1-Q2 2014
- 14. Source: GRIT Q1-Q2 2014
- 15. Source: GRIT Q1-Q2 2014
- 16. Source: GRIT Q1-Q2 2014
- 17. Source: GRIT Q1-Q2 2014
- 18. Source: GRIT Q1-Q2 2014
- 19. THE FUTURE LOOKS VERY DIFFERENT
- 25. “Things” connected to the internet
- 29. 29
- 34. 34
- 35. QUESTIONS? Leonard F. Murphy Chief Editor & Principal Consultant | GreenBook P: 770-985-4904 | M: 678-232-7691 E: lmurphy@greenbook.org S: lennymurphyrhr T: @lennyism
Editor's Notes
- Many Brands Are Already Using New Tools
- Cheaper, Faster, Better
- Attitudinal – what do you think, what choice would you make, what do you like, what do you not like. Behavioral – what did you do, what would you do, product usage, lifestyle, transactional data such as IRI, loyalty data, CRM data Intrinsic – values, motivations, emotions, personality traits
- Characteristics Of The Methodological Shift
- Adoption Of New Techniques Is Becoming Mainstream
- Market Research Industry Is Being Driven To Change
- Organizations Are Adapting In Many Ways
- Adoption Of New Techniques Is Becoming Mainstream
- Adoption Of New Techniques Is Becoming Mainstream
- Adoption Of New Techniques Is Becoming Mainstream
- Adoption Of New Techniques Is Becoming Mainstream
- Adoption Of New Techniques Is Becoming Mainstream
- Adoption Of New Techniques Is Becoming Mainstream
- Adoption Of New Techniques Is Becoming Mainstream
- Adoption Of New Techniques Is Becoming Mainstream
- Individual relationships & Technology are now key stakeholders in Marketing success The era of 1 to 1 marketing is here Consumers demand what is relevant to them personally Technology enables these connections Marketing & IT are merging Data Science drives decisions
- Big Data isn't a catchphrase. The ability to aggregate and analyze data from an increasing number of consumer devices, interaction points, and activities and then analyze that to predict behavior is an ever expanding reality. Insights must increasingly allocate resources to understanding “why”.
- The data is moving through networks. These are just a few of the companies that are able to catch HORIZONTAL information. Network providers – all the data runs through there. Platform providers – the data is structured through there. Access points – the data runs through there. Aggregators and resellers are keen to develop data from these providers.
- QUANTIFIED SELF
- WEARABLE TECH
- Personal sensors, EEG headsets, retinal scanners and other biometric devices are embedded in a variety of consumer devices, especially wearable's. And new “tricorder” like applications are entering the market that can perform many aspects of a basic health assessment via a few simple
- Effective and inexpensive virtual reality is now a physical reality. Using existing technology like Microsoft Kinect systems, gaming platforms, HD TVs, etc.. Many companies are exerimenting with how to apply VR to address many issues, including behavior change or therapeutic interventions in healthcare.
- 3D PRINTING
- Gamification, or serious games, are used for data collection, co-creation, collaboration, behavior modification, training, and of course good old simple fun. We have not developed game deployment platforms comparable to survey systems, but there are many standardized game design engines that could get there soon to make the development and deployment of games at scale a reality.
- COGNITIVE COMPUTING
- BIOMETRIC MEASUREMENT