By Julie Diaz Asper
The Market Research Event (TMRE) in Boca Raton, Florida last week was packed with over one hundred sessions and case studies presented by respected leaders in the insights industry. There were so many key lessons that it’s difficult to know where to begin sharing my takeaways!
Key Highlights Plus Top Tweet Picks:
You need to enchant your customers
Guy Kawasaki, former apple chief evangelist and author of Enchantment did a great job of setting the stage for TMRE. He laid out the hows and whys companies need to enchant customers: Insights teams need to embrace and take a leadership role in shaping products that enchant.
Add therapy to your insights tool kit:
Greg Alley from Harley-Davidson and Daryl Travis from Brandtrust laid out the ways they achieved a greater understanding of their consumers. They conducted “therapy” like sessions for collecting stories and emotions, and then “institutionalized” the findings by building customer conversion and engagement frameworks to drive business results. Understanding their customers helped make their brand “sticky.” Great Velcro analogy below:
Humans are lazy, at least their thinking is
Daniel Kahneman, Nobel Prize winner and author of Thinking, Fast and Slow, spoke about the ways humans think. As he says, we are drawn to the familiar. Repetition makes something seem true. Understanding thinking is critical to understanding potential consumer behavior.
Things move fast and it’s out of your control
Ron Wiliams, the author of The Value Path: Embedding Innovation in Everyday Business When the Customer Makes the Rules shared the ways that competition and new products and features drive how your product stacks up. The path will evolve quickly. You’ll need to monitor and focus on creating new dimensions of value instead of getting caught up in the “heritage trap” –the processes that succeeded so well beforehand.
It’s not mad science, its behavioral science:
Lowe’s and BrainJuicer shared findings from their work using behavioral science to drive behavioral change. They showed an amazing YouTube video, Mind Control by Derren Brown that demonstrates the effects of subliminal advertising on consumers.
Live in a Twitter world: tell a story, get to the point and make it visual.
Researchers need to live in a Twitter world—aka less data dumps and more Infographic-like. In other words, more story and less PowerPoint decks.
Snack-sized surveys make mobile a real option.
Coca-Cola North America and Gongos Research shared how they conducted a mobile-enabled survey and chunked it into three modules. With data stitching to fill-in the data (using respondents with similar data) and achieving very similar results to the online survey method.
Using Shopping Insights to test in the context of the shelf:
Deborah Campbell, Gerber discussed how they used a virtual shopping solution from Decision Insights to test their new packaging. Virtual shopping helped them assess how a new package would perform on the shelf, against the competition.
Research will look very different, and soon!
We are still at the early phases of the transformation of the Insights industry Even with all the showcased innovation; there was a general consensus that we are still in the early phases. Major leaders will take innovation to the next level. As Philip Chambers from PepsiCo pointed out, about 70% of the industry is still relying on traditional surveys but this is going to change–quickly.
TMRE is a must-attend-annual-event filled with high-level content, useful sessions and industry leaders. Already looking forward to #TMRE 2013!
Here is some tweet inspiration for the future of Market Research:
What were your top takeaways from TMRE?