Panel – Is Your Data C-Suite Ready? Transforming Insights into Market and Business Intelligence
Moderated by: Beth Rounds, CMO, Dapresy
Panelists: Amy Davies, Head of Insights, Acklands-Grainger, Lisa de Lima, Associate Director of Market Research, LoyaltyOne, Maelyn Angulo, Manager of Customer Experience Strategy, Capital One, Philip Scrutton, Vice President of Shopper Inisghts, BrandSpark International, Kyle Davies, Director of Marketing Research, Bond Brand Loyalty
…Yes, you read that correctly – a female moderator, and 3 women and 2 men on the panel. Diverse panels ARE possible if you decide you will have them!
- We need speed and automation to data into the hands of a business in a timely manner
- Story telling and graphics are now mainstream
- Data integration is still key but information remains in silos
- Limit your research objectives to 2 or 3 of the items you really need to focus on. If you have more, then split them into separate projects. Think about your end product at every phase of the research. How will it translate into a report? Can we condense things into a reasonable space for reporting. The best study is a horrible study if you can’t report on it properly.
- Lisa de Lima says their surveys are FIVE MINUTES! [In other words, don’t say it isn’t possible because it is.]
- Get to THE answer not an answer.
- Push back against ‘just add one more question’
- If you want to be believed, you need credibility. You get this by speaking to people on the frontline, speak to the sales team, the client service team, let everyone help shape strategy.
- Use dashboards to deliver results in realtime – let them see it before the presentation, let them drill down on relevant filters, and use this to elevate the conversation. Now you can dig deeper because everyone has seen the data they want and need to see.
- Don’t just stick to the RFP. Think about how you can integrate findings from other projects and data. DOn’t just deliver numbers. Bring storytelling to make the data meaningful.
- You were hired because they trust you. So tell them the answers quickly and clearly, and move the report presentation into a discussion to offer real value.
- Give vendors enough background information so they can speak on your behalf, knowing what you know and knowing your take on the results
- Let your researchers visit other areas of the company – the call center, client service, etc. Invite them to visit to they truly understand the business
- Project management is table steaks. Make sure a new researcher can read a report and pull out the key point, the elevator story, the research objective. Can they tell an appropriate story about it.
- [Currently having a candy fight with my neighbour. I WILL WIN THIS BATTLE!]
- Data isn’t complicated. Storytelling, however, is hard. Use designers, internal or external. Marketers are good storytellers and researchers need to learn this skill as well. [I really think researchers don’t get what story telling means. It’s not like writing a kids book.]
- What are the meaningful bits? What make sense.
- There’s not one right way to get to a story. If you work off data tables or the dashboard or the report itself, just make sure it works.
- Don’t just visit or go on sales calls, TELL people you visit and go on sales calls.
- Reports need to be quick, digestible, and FUN.
- Use a designer to prepare infographics, images. Personalize the insights.
- Marry attitudinal with behavioural that the client knows about
- Don’t present every single piece of data just because you can. Focus on the real objective and answer just those questions. Then it is a crisp focused report. [You can put the rest in the appendix]
- CEO needs one slide, other people need different or more slides. Create the right report for the person you are talking to.
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There are a few sides to the loyalty card argument. The consumer arguments go like this:
- I LOVE loyalty cards! I get great discounts at all kinds of stores and I save tons of money! Give me another one!
- I HATE loyalty cards! I don’t need ten more plastic cards taking up space in my wallet just so I can have the price that something should have been all along!
And the retailer argument goes like this:
- I LOVE loyalty cards. It’s a mutually beneficial partnership between me and my loyal consumers. My consumers understand that we are offering great deals on products in return for a bit of information. The cards let me track the behaviours of individual people people right down to the SKU level. They let me know when and where and how often and how much each person buys of every single thing. Now that I can predict people’s household size, number of children, age of household members, race, religion, and education, I can plan my sales and discounts to encourage them to buy products they don’t usually buy.
But the bigger problem with loyalty cards is this. Consumers don’t TRULY know what’s going on behind the loyalty cards. Consumers don’t truly know that those loyalty cards mean their every move is being tracked. Consumers don’t truly know that every purchase they make is monitored and analyzed and fed back into the great shopping machine that dictates which ads and sales will show up in their inbox and at their doorstep. Consumers don’t truly know that the local grocery stores and clothing stores and electronic stores have algorithms that accurately predict every aspect of their personal lives. Consumers don’t know that their information from one store is getting matched up with information from another store creating an even more precise and eerily creepy description of their household.
Welcome to this series of live blogs from the American Marketing Association’s Research & Strategy Summit in Las Vegas. Any errors, omissions, or silly side comments are my own.
Joshua Kanter, VP Total Rewards, Caesars Entertainment & Veronica Smiley, CMO, SBE Corporation
- 45 million member customers, 40 properties in 20 cities
- Imitation is flattering but competitors like to hire away your best talent
- Their backend databases weren’t all connected together until a short time ago. Means people couldn’t get rewards at multiple places off the one loyalty card.
- Research showed that value and awareness were highly correlated for three separate programs. How do you improve when you are already the best compared to your competitors? 2/3rds of members say this program was their favourite, much better than for competitors.
- Figure out who matters most to you. Figure out what matters most to your cusotmers. Deliver that better than your competitors.
- But they needed to broaden the appeal of the program beyond core gamers, and focus on the entertainment seeker opportunity – golf, cruises, shows, restaurants. It’s not just about the people who gamble. [yup, i won’t be gambling or drinking in Vegas]
- Why? Higher ceiling and lower visibility. You can only spend so much at a hotel if you get the best room and the best room service but the ceiling is unlimited when you enter the casino. But Caesars offers entertainment, not just a casino.
- The Loyalty card is agreement where the consumer agrees you can track everything in order for them to get specific rewards [I honestly don’t believe this. That’s what the loyalty companies want to think. Consumers just don’t get that.]
- Competitors are more focused on slot machines. They don’t have the same infrastructure in terms of analysts.
- How to engage entertainment seekers. There is entertainment, dining discounts, shopping, exclusive and early access to high profile events.
- Why didn’t people use the loyalty program? Research said they only come to Vegas once a year, they don’t want another loyalty card, it’s not meaningful to them. They didn’t realize they could use the program in different cities in different ways, not just for gambling.
- Needed to design a campaign that overcomes barrier of “I’m not a gambler, this isn’t for me.” They put together four surprise concerts at the same time – shows they are big. Four different music experiences – country, rock, hip hop. Went with unbranded teaser campaign so that people wouldn’t dismiss it as “oh, it’s just Caesars gambling.” They needed pop culture celebrities to share the message, not just the brand themselves. Relied on social media for much of this, not just in casino swiping.
- Did it work? 1.5 billion impressions over 3 months. 25% increase in members. Doubled twitter and facebook followers. Winner of Colloquy Master of Enterprise Loyalty award.
- Very few programs achieve real loyalty programs as opposed to rewards programs or discount programs.
- Find out what motivates people – social connectivity, escaping a busy life, etc
- Engagement depends on how much you understand what matters to people. Challenging for people who’s motivation is unrelated to gambling if you don’t capture non-gambling information. Don’t be a hammer in search of a nail – “Here’s some free gambling chips! Oh great, what do you expect me to do with those?”
- Media Consumption from the 2012 London Olympics: Wurtzel from NBC, and Fulgoni from comScore #AMAresearch #MRX (lovestats.wordpress.com)
- Which half of my digital marketing is working: David Rogers #AMAresearch #MRX (lovestats.wordpress.com)
- Yay me! David K. Hardin Memorial Award Winner #MRX (lovestats.wordpress.com)
Research is a pretty cool thing. We ask people what they think about products, and they tell us how to make them better. If we change the color of the packaging, like the research said we should, we can make more people buy our product. If we increase the size by 10%, we can make more people buy our product. If we answer the phones quicker, we can make consumers be more loyal to us.
The scientific experiment has taught us this. Test and control groups, dependent and independent variables, mixed random and fixed designs, oh the processes we use to learn how to make people like us.
I don’t think, though that this is the mindset that will “make” consumers be more loyal. You simply can’t “make” consumers be more loyal. Loyalty is a gift from your consumer, a prize you receive for doing things right, for treating them honestly and respectfully. They aren’t “your” consumers. They are consumers who choose you each and every time they walk in your store.
With that in mind, here are my 3 tips for forcing consumers to be loyal.
1) Listen – Listen genuinely, not because it’s your job but because you are a consumer yourself and know that consumers’ opinions matter.
2) Act – Only do research when you’re prepared to act on it. And act on the important findings, not on the cheapest findings.
3) Respect – Share what you have learned with your consumers whether good or bad. Make changes for the right reasons, be nice, be honest, do unto others…
You may not be able to force loyalty but you sure can set yourself up to receive it.
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