Tag Archives: data to decision value chain

Marketing Research Sector – From Insight to Foresight?

Another morning that made me thinks in which direction is my career heading? Am I going to be the new hype – the Nate Silver of Middle East? Or am I going to drown in the data piles around me? Marketing research sector at large, haven’t introduced a game-changing idea for quite some time now and as the information age is coming of age the need of conventional researchers is reducing. So what should we do….? Lead or follow? change careers?

And guess what! Miss Monneypenny from ‘Sky fall’ was able to answer my question – She says “An old Dog should learn new tricks”

Here is a presentation, that you might find useful

Jokes apart, I recently attended a training course on Business Planning, and I have learnt one key thing. All markets mature and all products age, you must stay ahead of maturity and keep on innovating. Innovate anything like process, customer expectation, resource utilization, market differentiation. But you must innovate if you want to survive.

So what should I innovate in my projects, what should Marketing Research Sector at large innovate?

In my opinion, we should innovate our human capital. Instead of producing a whole squad of insight discoverers we should aim at producing decision facilitators.

Market Researchers who can give input on processes, business scorecards, performance monitoring and managing systems, marketing strategies, sales plans and forecasts.

To enable us increase and improve the pricing model of research sector. To help us sustain the competition from social media monitoring industry and consultancy firms.

The slide deck reflects my thinking, and following is what I think is a summary of my vision for MR sector. have a look and let me knowwhat do you think

Data to Decision Value Chain

P.S. And while you are thinking about it, listen to this song – it helps to focus. (or okay lets’ admit it I liked the movie a lot)

Turn Data into Decisions through this Simple Decision Making Grid

Who wants to drive corporate decision making through his data? I do. I want to drive organizations decisions in the light of insights.

In my career I have seen ‘numbers’ predicting future like Mad. And I have seen brand managers ignoring numbers like Maaaaaaaad too 🙂

So now that I am a client myself and have dealt with a lot of agencies, here is a simple Grid that I follow to drive key decisions internally.  Continue reading

3 Emerging Consumer Trends

Customer Trends helps us to shape ourselves according to consumers’ expectations, following are 3 trends which are affecting the consumer. It is now up to us to use them or ignore them.

Trend

Insight

Opportunity

The Aware Consumer

We are talking to consumer, who are well traveled, informed and aware about their rights.   They are becoming allergic to meaningless brand promises. And legislation and watchdogs are giving them new information about their choices  

They seek a genuine relationship with brands. Be Honest with them, try to be a partner to them in their journey of life.

Lonely but connected

Massive friends on FB but Living alone. Consumers are disconnecting from real life. And they know this.

 Help consumers’ to get back in touch with Real Life

Seeking a Meaning

Gen Y is more aware and hence are more conscious. Trend watching calls it Emereging Maturlism, you may call it a consumer who wants to make a positive impact

Offer consumers a chance to add a positive foot print, you will be pleasantly surprised

The key that sets good researchers a part from bad researchers is not the ability to compute. It is basically, the eye for an insight and the guts to inculcate that insight in to decisions. Best of luck to everyone out there who is trying to do that, sooner or later we will crack this code together.

Data visualization future in Marketing Research

I started today with the typical Monday blues. (for those who don’t know, in Dubai we work on Sundays’)

Reports, tables, data sets started to pile up in my inbox and the brain just refused to work. So I went online and surfed through some of my favorite blogs & websites and landed on the results of WPPed Cream. And there is when I found something which can make your weekend a little brighter.

TNS Digital Life is the winner in the WPPed Cream, Consumer Insight section. I strongly recommend that you have a look at it, you might be pleasantly surprised with the data visualization and cross country comparisons.

Infographic – TNS Digital life UAE-Singapore

The second thing I observed that Kantar has a Creative Director….! Aziz Cami. I am delighted to know that Research companies have finally realized the importance of data visualization and presentation and this is a warmly welcomed move by Kantar. I hope others will soon follow. This indicates that in future, we expect to have a creative division in Agencies’ looking after syndicated data.  Finally. Continue reading

Toolkit for Killer marketing research presentations

We all deliver presentations, sometimes good and sometimes not so good. We all sleep through presentations sometimes on purposes and sometimes unintentional. I have delivered several presentations in my career sometimes as key note speaker, sometimes as a communication planner and sometimes as a researcher. I think, I have some points that I can share with you about presentation Continue reading

6 Ways to Ensure Marketing Research project becomes a show-stopper

Marketing research documents are usually very insightful but rarely used (no offense). Sometimes, they are too detailed or too technical or delayed or something similar.In some cases, client agency relationship is also strained and in some cases internal research processes and budgets are reviewed. And in some cases, nothing happens which in my opinion is worse than even bad consequences. ( have a look at these presentation toolkit)

Following is the flow chart for MR projects which doesn’t end up only in shelves of Research Executives. I was discussing it with my colleagues and was laughing about it, in the given flow chart the success of MR project is only about 1%.

Success of MARCOM is not only meeting research objectives it is actually when a research project is so fiery that branding teams have no choice but to acts on the findings.

Flow Chart of When Marketing Research is more than a paper

Continue reading