Keynote: Reinventing Online Markets by Gayle Fuguitt #CASRO #MRX


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“Reinventing and Re-imagining Online Markets, Competition and Leadership”

By Gayle Fuguitt, Former VP, Consumer Insights, General Mills, Inc. (Founder, Tempus Futures)

  • “Online research” might not actually be here in 5 to 10 years  !!!
  • We need to thrive, not just survive
  • Imagine your competitors as collaborators
  • the “Complexity Curve”
    • mass access = big data e.g., loyalty programs and netflix, customization and self expression e.g., facebook and pinterest, role reinvention e.g., data guru and user researcher
  • 10 pages, 20 minutes, 30 point font (great advice for a presentation)
  • Clients are not inclined to change trusted partners and management doesn’t like the discontinuity of norms and numbers means there is an opportunity to bring new opportunities to trust systems for less perceived risk and more efficient use of resources
  • Great researchers would rather try something new than explain why things are not the same
  •  Create a win by using methods together, continuous survey data plus new social media data
  • Be a navigator, pack light and smart
  • Be a navigator
    • not adding value is the same as taking it away, that’s surviving not thriving
    • Online surveys started as a substitute but now growth is in new online solutions e.g., webcam research
    • Surveys, trackers, focus groups move to communities, listening posts, affinity sampling, real time content
    • allocate 20% to growth, shift resources, cocreate for resource reinvention
    • move up the value chain, rethink the competition, DIY enables scale, use new complementary solutions
    • “Frugality fatigue” – parents don’t want kids to know that they aren’t having difficulty meeting food needs so they still buy a few luxuries
    • What is the parallel to people paying $2 per cup of greek yogurt in the middle of a recession? Don’t miss the opportunity.
    • Take what you do best and bring the new and cool to it. Don’t necessarily just move into something brand new and unfamiliar.
    • Consider price of 4 focus groups for a 12 month community panel. One is so inexpensive you question the quality. The other so expensive you question the value.
  • Pack light
    • Create many ideas, learn what sparks, and head to the right target
    • Create a venture capital fund for internal experimentation
    • Invest in the ideas of your younger employees and let them decide how/where to spend some money
    • Leadership and cultural alignment count
    • You need to know what you’re trying to achieve
    • Venture partner selection – visionary leadership most important and is the secret sauce, look for a partner who is investing resources into the future, and is scalable
  • People make decisions, data doesn’t
    • Be the growth strategist, go global, seek collaborations, create the next generation of insight leaders, turn data into insight
    • “We told them that a long time ago”   Be careful about false modesty, research timing, decision timing
    • Courage is what it takes to sit down and listen (Churchill)
  • We feel like we have too many choices
  • We feel like we need to lead all the segments
  • reinvent your leadership
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