Leonard Murphy - Research Industry Transformation: The Shape of Things to Come
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. . . WELL, SORT OF
Transcript of Leonard Murphy - Research Industry Transformation: The Shape of Things to Come
. . . WELL, SORT OF
CHANGE IN CONSUMERS’ BEHAVIOR IS CHANGING INSIGHTS
ASK, LISTEN, OBSERVE
THEN NOW
LISTEN, OBSERVE, ASK
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Social media has changed business in general and financial services in particular. Financial services used to react to projections based on data gathered weeks previously about recalled or projected behavior and stated opinion. New tools can provide relevant information in near-real time, and managers can react immediately. – Ravi Parmeswar, Citigroup
Criticisms of new approaches on the grounds of representativeness and the absence of demographics miss the point. Some things they cannot deliver, but the things they can deliver are found in no other way and have their own unique and strong value proposition. – Marketing Researcher, Leading Technology Firm
The challenge becomes getting the most relevant insight together. What is the issue and what information bits are critical todeciding this? Information is massive and at senior levels managers are overloaded with data. The art of insight management is to reduce it to the max. A thousand things you can know. Only a few things you need to know. – Senior Marketing Insights Manager, Microsoft
We use social media analysis through data mining historic conversations as stimulus for questions and prompts in ideation sessions. – Suzana Pamplona, Johnson & Johnson
Our vision is to build our brands through lifelong, one-to-one relationships in real time with every person in the world. - Marc Pritchard, CMO P&G
The industry should get away from believing a method, particularly survey research, will be the solution to anything. We need to be methodology agnostic. - Joan Lewis, Officer CMK P&G
If you don’t like change, you’ll like irrelevance a whole lot less. —Joe Tripodi, CMO
The Market Is Speaking
Traditional Research
Converged Model
The New Paradigm
Attitudinal
Intrinsic
Behavioral
The Holy Trinity Of Data Types
Industry Transition
From To
Questioning Discussing
Asking Observing
Data (collection) Insight (analysis)
Understanding Predicting
“The Big Survey” “Data Streams”
Rational Behavioral
Geographically Fixed Mobile
Quarterly Trackers Real-time
Explore-Create-Test-Launch Co-create
Siloed Converged
The Methodological Shift
THE REVOLUTION IS HERE
. . . WELL, SORT OF
Source: GRIT Q1-Q2 2014
GRIT Sample Characteristics
Source: GRIT Q1-Q2 2014
Source: GRIT Q1-Q2 2014
Source: GRIT Q1-Q2 2014
Source: GRIT Q1-Q2 2014
Source: GRIT Q1-Q2 2014
Source: GRIT Q1-Q2 2014
Source: GRIT Q1-Q2 2014
Source: GRIT Q1-Q2 2014
Source: GRIT Q1-Q2 2014
Source: GRIT Q1-Q2 2014
THE FUTURE LOOKS
VERY DIFFERENT
THE NEW VOCABULARY
“Things” connected to the internet
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QUESTIONS?
Leonard F. MurphyChief Editor & Principal Consultant | GreenBookP: 770-985-4904 | M: 678-232-7691E: [email protected]: lennymurphyrhrT: @lennyism
