2019 NYC Insights Executive Roundtable...Richard Thorogood, Global VP Insights at Colgate-Palmolive...

Market Logic © 2019 CONFIDENTIAL | 1

2019 NYC Insights Executive RoundtableAI strategies to run an insights-driven business

March 29 2019

Market Logic © 2019 CONFIDENTIAL | 2NYC Roundtable 2019

Attendees

Jessica Bernow Director, Research Agency Management & Operations

Richard Thorogood GVP People, Culture & Market Insights

Frank Santiago Global Knowledge Management Manager

Valerie Molina Consumer Research Assistant

Michelle Mattrey VP Insights & Analytics

Michalina Longo Sr Manager Competitive Intelligence

Val FotiSVP Marketing and Customer Experience

Joaquin Garcia-Lopez Director, Global Market Research Excellence

Justini HungDirector Customer Insights & Analytics

Therese Glennon VP Customer Insights & Market Research

Sandipa Dublish Sr. Director Commercial Insights: Inflammation & Immunology

Carol Mannino Director - Consumer and Customer Insights

Jason Chebib VP Consumer Planning

Karen Scherbaum GVP Consumer Insights


Attendees

Roberto Cymrot Director Consumer Insights

Colleen Fahey Rush EVP, Chief Research Officer

Kent Bassett VP Global Consumer and Shopper Insights

Katie Solovieva VP AlpaWise Primary Research

Tina Tonielli VP Global Consumer Experience (Insights)

Alyssa Elser Director, Customer Insights

Jenny Michelman Global Consumer Insights Manager

Lauren BanksMarket Research Specialist

Flynt Tuller AVP Global Marketing Strategy & Science

Steven Karunphand Marketing Sciences Knowledge Management & Operations Leader

Siddartha Adukia Director

Jackie Chan VP, Head of Decision Insights Group

Daniel BlattDirector

Allyson HugleyVP, Analytics & Market Research


Richard Thorogood, Global VP Insights at Colgate-Palmolive

Richard welcomed guests to the third NYC roundtable, recalling the first meeting in 2017 and the significant chnage in the field of insights management since that time. In this context, he introduced the Colgate-Palmolive knowledge management team and their journey to transform from a research tool for the insights organization to a business platform that drives commercial decisions.

Welcome from our host

10:15 Colgate-Palmolive case study11:15 AI to run an insights-driven business11:45 Panel discussion12:15 Networking lunch14:00 Close

Agenda


Frank Santiago sketched the diversity and breadth of Colgate Palmolive, which spans pet nutrition as well as oral, personal, and home care sectors, and 34,000 people generating $15.5 billion revenue in 200 countries. A global insights team supports this work with feet on the street in every regiont, and a knowledge management team to “effectively capture, transfer, access and synthesize the right insights, knowledge and information in a user-friendly way”.

Unlike many companies, Frank said Colgate-Palmolive has invested in knowledge management function since the 1980s, starting with a physical library that upgraded over time using the technology of the day to organize research resources for the insights team. In 2016, the team decided to take the knowledge management to the next level with

Frank Santiago, Knowledge Management Pioneer Valerie Molina, Knowledge Management Associate

Case study: Colgate-Palmolive “Driving Insights Globally: the dig journey, March 2019”

technology from Market Logic. Following a successful pilot, where standard software was configured to reflect Colgate’s unique ways of working, the team decided to deploy solution, immediately focussing effort on branding the platform for success.

“Our goal is to effectively capture, transfer, access and synthesize the right insights, knowledge and information in a user-friendly way”. Frank Santiago, Global Knowledge Management Manager

Valerie Molina explained that the deployment journey started with a name that goes beyond the idea of searching for insights:


Driving Insights Globally (DIG). This was the foundation for a logo that stood apart from the frequently-used light bulb icons that litter the insights landscape. Additionally, the brand and activation strategy needed a spokesperson, so the team developed Darci, an avatar that guides users through their training programs and appears on all branding, from merchandising to posters, events and monthly newsletters.

By 2017, the team had already started “digging” for insights. In addition to searching and finding insights from qualitative research, the team introduced benchmarking libraries where users can search concept, copy and pack tests by topic, category and region, and sort by standard test scores and KPIs. This makes it easy to review past creative, as well as learnings from past campaigns. Dedicated libraries are also provided for easy access to brand health reports and Marketing Mix Modelling.

Teams have stopped repeating past mistakes, and are investing saved research dollars in new foundational insights. Frank Santiago, Global Knowledge Management Manager

Frank said “return on insight from these libraries can be described in terms of efficiency and effectiveness”. For efficiency gains, teams access relevant tests at any time and have stopped repeating known concepts. They also get better results on their first try, while reducing the number of tests needed to achieve action standard. From the effectiveness vantage point, teams have stopped repeating past mistakes, and

are investing saved research dollars in new foundational insights. Most importantly, they are consistently making winning decisions that boost growth”.

Building on this success, Frank said DIG expanded from “everything in one place … to an automated platform to dig, create, collaborate, approve, build knowledge and share insights, with a fully automated end to end research process”.

The platform supports creation of the project budget, development of the project details for signoff with internal stakeholders, supplier selection and proposal development, procurement approval commissioning, acceptance of results and publication for re-use. End to end research support is expected to deliver efficiency savings of 10% on the research spend, by reducing duplication of research through more efficient vendor management.

For Frank success factors include a centralized system for self-service, better ways to partner with research suppliers, and benchmarking libraries. The success of DIG, he said, was due to the close teamwork between insights leadership, insights professionals, the IT team, and Market Logic. In closing, Richard acknowledged that the technology is but one part of the transformation journey. “We used to guard insights fiercely, now we are getting better at curating and promote knowledge to our business.

The next step is to deploy the platform across the commercial enterprise so that all the sales people have the insights they need when they go out and talk to accounts.”

In a lively Q&A, Richard, Frank and Valerie fielded questions on usage barriers, ROI,


resources, introducing a culture of knowledge sharing, remote access and impact on agencies. They said: • Start with a fully populated system so users see great results from their first search onward • Be prepared to adjust and optimize workflow configurations, as software enforces ideal best practices humans don’t always follow • Integrate secondary sources to extend reach • Reward people and agencies when they upload content to encourage compliance, and automate wherever possible to eliminate effort • Equip users with a mobile app so they can challenge positions and arguments in meetings • The main source of ROI is cost avoidance through the elimination of “preventative research,” and time saved to focus on driving insights through decision processes.


Jason reminding everyone of what they already knew: “in the age of the customer, data and analytic-driven actions are essential. The data and analytics are there, and companies know they need to use them (in fact, 73% of businesses aspire to be data driven), but most companies don’t know how to turn data into action. It’s a massive insights gap”.

So how can companies close the gap between data and insights? Jason said Market Logic technology is designed to help companies connect all their data and tools on one platform so they can leverage all their research and analytics investments. Agile research methods can then be used to build consumer knowledge by generating fresh insights, which can then be injected in business processes (innovation, marketing and sales).

Jason shared evidence to show how being insights-driven can boost revenue growth. For example, Forrester says insights-driven businesses grow 30% annually (at least 7x faster than GDP) , while McKinsey analysis shows companies that integrate data and creativity have twice the growth rate of those that don’t . He added that from an efficiency

Jason Childers, VP Global Solutions, Market LogicAI to run an insights-driven business

perspective, “Market Logic’s own client benchmarking shows that knowing what you know before you research saves up to 15% on your budget”. Transforming from data-aware to insights driven involves re-setting fundamental operating principles. Jason said that inside data-aware firms, users go to information when they think they need it, so business decisions are only supported by data, while centralized reporting breeds over-reliance on expert teams.

By contrast, inside insights-driven firms, information goes to users whenever they need it, which encourages agile experimentation and continuous learning in cross-functional teams. He then presented a live software demonstration to illustrate some of the key success factors to deliver insights to users, including personalized user experiences so people get the content they need based on their function, role, and reading behavior, and AI powered search to automatically summarize answers on the fly, so there’s no need to read reports.

1Forrester, 2018 2McKinsey, 2018


Richard Thorogood, VP Insights, Colgate-Palmolive Flynt Tuller, AVP Global Marketing Strategy & Science, Metlife Joaquin Garcia-Lopez, Director, Global Market Research Excellence, J&J Jason Childers, VP Sales, Americas, Market Logic Elizabeth P. Morgan, CMO Market Logic

Panel discussion: the insights disconnect

Elizabeth asked panelists whether there was an insights disconnect inside their firms, and if so, what steps they were taking to tackle it. In light of the Colgate Palmolive case study, Richard focused on the disconnect that’s caused when your insights platform is only focused on deliveries to the insights organization. To resolve this, his team is transforming ownership of the platform to the business, so commercial teams can freely access the information they need, whenever they need it.

Flynt Tuller from MetLife described the disconnect as an age-old challenge for insights teams. Insights professionals, he said, are typically great at collecting information, but not always as


good at transforming it into strategy. At MetLife, Marketing Sciences and Marketing Strategy teams are joining forces to overcome this hurdle. Together, they actively “bake the insights engine into networking and relationship building with the other teams.” Flynt’s team are also delivering custom analysis pieces (desk research) as a value-add promotion for their platform, where demand is especially strong in innovation and the regions. He also noted that the content emphasis on competitive intelligence in their engine extends its appeal beyond marketing into business lines and strategy.

Joaquin Garcia-Lopez from Janssen said that his global strategy organization does not really suffer from an insights disconnect, because the insights professionals and marketers have a one-on-one relationship in the global strategy teams – if they don’t think research will be used, they won’t do it. He acknowledged that this ratio is unique and that the disconnect is more likely to occur in the operating companies where the ratio between insights professionals and business stakeholders is much lower.

Another area for the disconnect arises from skepticism about the value of research. Joaquin recalled the frequent objection: “if Ford had listened to market researchers, they would have told him to make faster horses.” However, as he pointed out, market research is not about asking people what they want, it’s about synthesizing insights from all kinds of research and sources to distill insights about how people behave and what their barriers and needs are – as the starting point to propose new solutions. He also observed that marketers are increasingly open to emerging techniques to understand consumer behaviours and interact with thought leaders, such as IoT and social listening potentially at the expense of traditional market research.

Controversially, one participant asked: “to what extent does Market Logic technology, and an insights platform, kill market research?” Some argued that the role of

The days of commissioning research and presenting the results to business are over. All businesses desperately need people in the boardroom who deeply understand competitors, customers and markets, and can use this knowledge to develop great strategy”. Open discussion

the insights manager is empowered by the platform, because it frees up time wasted chasing history to be a proactive champion of the consumer.

Others focused on the increasing role of desk research and story telling – transforming evidence from multiple sources into messages marketers will remember. Another audience member interjected saying “Market research is dying, and insights professionals should welcome it. The days of commissioning research and presenting the results to business are over”, he declared. “All businesses desperately need people in the boardroom who deeply understand competitors, customers and markets, and can use this knowledge to develop great strategy”.

All food for thought and an even livelier discussion over a networking lunch.

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About Market Logic Market Logic helps the world‘s best brands to run insights-driven businesses. We do this with insights portals to share and promote knowledge, intelligence portals to analyze markets and competitors, and market insights platforms to generate insights from data and inject these in business processes. Our software is used to drive customer centricity in CPG, healthcare, retail, finance & insurance, telecom, travel and media sectors, where our clients collaborate with 600+ research agencies online. We employ 300+ software developers, data scientists and marketing professionals at regional headquarters in Berlin, Chicago, Pune and Singapore.

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2019 NYC Insights Executive Roundtable...Richard Thorogood, Global VP Insights at Colgate-Palmolive...

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