Insights Association Paradigm Shift: Chris Whitaker, Explorer Research; Steve Olsen, Nestle; Maja Neale, BMO
My notes. Any errors are my own.
Better Behaviour Predictions Through Better Behaviour Testing by Chris Whitaker, Explorer Research
Traditional research plus non-conscious research = richer insights
People don’t automatically remember the details of every shopping trip or why they made their decisions.
Recall is not a reliable measure of real shopping.
When we get a new job, we plan the entire route as soon as we can. But a year later, we just don’t think about it. We can arrive without even realizing how we got there. Planning takes up a lot of energy and time so we remove that over time. Decisions must become easier over time and this comes from using the unconscious mind.
People inflate recall, purchase.
Only 60% of brand purchases are recalled correctly. Eye-tracking knows precisely what you bought.
Only 48% of people recall the flavour or variety purchased. Only 27% recall the size correctly. Dollars spent are recalled 50% higher. Time spent is remembered as twice as long as actual. Brand noticed first is only correctly answered by 4% of people. Eye-tracking tells you exactly what they looked at first. And what was second and how long for each one.
Context influences behaviour.
What happens when you buy a whole case of wine because it’s the best wine ever but then you discover it’s not as great as what you thought when you first tried it with your friends at a beautiful winery.
TV ads are recalled a bit more than online ads. Purchase intent is about the same. However, biometrics are quite different. Online is 30% more engaging. Engagement plus distractions is three times better for online ads.
People say they seek price first but we rarely go through a list of needs, we just buy what we always buy.
Consumers idealize their behaviours.
We need to use behavioural measurements. VR, shopper labs, AI, eye-tracking, facial coding, mobile measurement.
In situation testing is more predictive and it can be timely and cost effective.
Yesterday and Today – The Nestle Canada Story by Steve Olsen, Nestle
Appreciating nuances vs clinging to arbitrary benchmarks. A slightly lower score isn’t “didn’t hit the hurdle,” it’s a discussion point.
We need to value feelings as much as facts. Get in front of consumers and talk to them, bring the experience to life, experience reality.
What we can do differently
Be more collaborative and less transactional with research partners. Together, you can avoid rabbit holes. It’s okay to show things that aren’t fully finished. This ensures you get to the right solution more quickly and easily.
Try new tools and techniques
Think about discrete choice, implicit testing. Remember that the most a consumer has thought about your product is probably during the minute you mention the name to them.
Prioritize foundational research
U&As can be used multiple times over the years and when combined with new information can still reveal insights.
Expand expertise and influence beyond just research
Build a culture of learning throughout the organization. Become better influencers and presenters.
Continuous learning and inspiration
Go to conferences outside your specific area. Go to an academic conference, a marketing conference, design conferences. It can inspire you in your own work.
Suppliers need deeper business understanding. Be curious for context. Seek senior level face time. Be able to synthesize and integrate knowledge from other industries.
Develop interdisciplinary expertise, especially the social sciences. But recognize when you’re not the expert or when your tools aren’t as precise as you want them to be or when they can’t do what you want them to do.
Develop new technology capabilities. Consider user design and interfacing. Consider automation with customization. Figure out if you can scale what was previously unscalable, e.g., text analytics, picture classification.
Experiment with data and methods. Helpful for thought leadership speaking at conferences. Helpful for turning trials into subscriptions. Quantify the risk for potential clients.
Massive Marketing shift – How BMO Created a More Data Driven Business by Maja Neale, BMO
Changing demographics, personal and privacy paradox, new media channels, interruption marketing. We need to maintain relevancy, measure investments, integrate across all channels, and rethink the way we market.
Banks have a responsibility to respect consumer data. But consumers expect what they receive to be tailored.
Trends in insights gathering.
Tech-based companies are growing. Self-serve DIY solutions are being rapidly adopted. Data integration across behavioural and company data is increasing. Demand to quantity financial value of insights is increasing.
Most companies sit between analysis and predictive rather than applying predictive knowledge to dictate behaviours necessary now.
Try to create micro-level results, e.g., tell each bank branch precisely how to improve their branch. There is sufficient transactional data to make this happen.
DO SOMETHING is the key important take away for any research. Once you have the data, act on it with the aim to improve.
Integration, automation, and real-time are key to using and applying insights.