Are you as busy as I am, as we plan on how we’re going to deliver on all our objectives before year-end? The last quarter of any year is a stressful time indeed, but this post on actionable insights is a must-read if you want to start 2020 ahead of the competition!
I’ve just returned from running a two-day workshop in Japan. The topic was “Insight into Action with Impact”. One of the things that I loved about the workshop was that marketing was invited too. Even though market research and insight (MRI) groups generally report into marketing in most companies, it seems to me that they are often working on different planets! In many organisations, the collaboration between these two departments goes no further than project briefings and results delivery.
This is not the case with my client in Tokyo; this MRI group has a wonderful working relationship, not only with marketing but also with Channel, Sales, R&D, Finance and even Legal. They have understood that insight development is too important to be left to the market research team alone and have worked hard to build strong relationships with all the other departments in their organisation.
I am sure that many of you reading this, are asking why this is so important. It is NOT important, it is VITAL! Insights are the golden nuggets that we are all searching for. Successful companies depend upon deep customer insights to grow their business. They understand the power of engagement built on insight, to connect with and inspire their customers. And yet many companies continue to leave this to the insight team to develop and deliver on their own. It’s as if they believe that this group have some natural-born skill or magic that enables them to do it while others cannot. Don’t worry, we can all do it with the right training and a few tools.
Great companies understand the importance of insight generation and the challenges faced by everyone in developing them. This is why the best marketers search for greater collaboration. I always encourage the market researchers in my client companies to socialise with other departments, rather than sitting behind their computers all day. The best marketers already do this, do you?
I was encouraged to see that marketing have finally understood the importance of insights. In some recent research by Gartner CMOs selected market research and insights as just as important as marketing analytics and digital commerce (see graph below). Better late than never I suppose, but it always amazes me that marketing could put anything ahead of insights. After all, every action they decide to take should be based upon deep knowledge and understanding of the customers targeted.
If you are struggling to develop insights that will truly resonate with your consumers or customers, then I suggest you follow these eight tips that I shared with my client’s marketing and insight teams last month.
Despite being some of the best marketers I know, they are still keen to progress their thinking and processes to embrace customer-centricity in every area of their organisation. This seems to be a trait of all successful companies, that they have a desire to improve and learn more. They never consider that they “know it all,” which is a reason I have often heard from businesses when I ask why they are not doing more to understand their customers!
1. Turn business objectives into customer-centric ones. If you are defining your objectives in terms of the business, such as increasing sales, beating the competition or increasing awareness, you are not thinking customer first.
Instead, identify what you want to change in terms of your customers’ behaviour or attitude, and you are likely to correctly identify the actions to be taken. When you think customer’ objectives rather than (just) your own, you are far more likely to meet with success.
2. Insight generation should start with customer connection. When was the last time you personally spoke with your customers? If it wasn’t in the last week, you’re not getting out enough! Make a habit of regularly watching and listening to your customers.
They are changing faster than you may realise, so it is important to keep your finger on the pulse of market changes. These days you don’t even have to leave your office. Market research interviews can be videos live and care centres are always answering calls from customers, so make a habit of listening in. For hints on how to observe your customers better, check out “Five Rules of Customer Observation for Greater Success.”
3. Have regular contact with all other departments. It is impossible to really understand the business if your contacts with other groups are limited to meetings and presentations of analyses you have conducted or plans you have written. It must become a daily habit, so you are seen as the true voice of the customer / consumer internally.
Meet for a coffee, or go to lunch with someone other than your usual group of colleagues. These impromptu meetings will deliver big on understanding and will provide invaluable information from the perspective of other departments.
4. Get MRI to share their nuggets of information at every occasion. While they may present findings in formal meetings and presentations, I know that market research and insight teams learn a host of new things about the business every day. So why not share them?
Every project and analysis turns up more information than that for which it was designed. Somehow these learnings get lost, as they are not seen as relevant to the question in hand. However, make them a regular part of newsletters, Lunch & Learn sessions, or internal “Tweets” and they will surely inspire new thinking across the organisation.
5. Get into the habit of speaking with consumers at every chance you can. As already suggested, join in when research projects are being run, listen in to call centre conversations, speak to demonstrators and merchandisers, or even talk to shoppers at retail.
These connections can quickly become addictive, as they are for the best marketers in the most consumer-centric organisations. As an added bonus, the insight development process will become both quicker and less challenging for everyone.
6. Ask MRI to analyse more than market research information alone. They are the best synthesisers you have and can manage multiple data sets from all available sources. There is so much information flowing into organisations today that there is more data than even the best marketers can manage.
According to IBM, more than two-thirds of CMOs feel totally unprepared for the current data explosion, especially as it relates to social media. And in research conducted by Domo, a similar number of marketers claimed to be unable to handle the volume of data available to them. Ask MRI to help and you will both be better informed and also feel less overwhelmed.
7. Remember that insight development takes energy and time. Although my client’s teams got close to the perfect expression of an insight in just two short working sessions, it usually takes days, if not weeks or even months to refine, group and synthesise information down to an actionable insight. However, the right training and some simple tools can speed their development for even less than the best marketers.
If you’re interested in learning more, then we can provide fun training on many areas of insight development. Download our training brochure and then contact us so we can discuss your precise needs. All our courses are personalised to meet your personal requirements; no off-the-shelf trainings are ever given.
8. Insight development should involve more than the insight team, which is why it is important for them to always be building their relationships with other departments. The alternative perspectives brought by the other groups will enhance the overall understanding of both the customer and the market situation you are looking to address.
So these are the eight tips I shared with my Japanese client during our workshop. Are you doing all of them, or have they given you some ideas on how to improve your own process? I do hope so.
If you work in marketing or even another department outside of market research and insight, I would love to hear what you do to develop your relationships with MRI. Do they involve you in insight development or do they only deliver the results of their process to you? What could you and they do better to make insight development and customer understanding easier in your organisation? Add a comment with your suggestions below.