Marketing Research & CMO

Marketing Research &

The CMO

Barry OoiPresident, MRSM14th June 2012, Matrade Centre, KL

Content of presentation

1. Marketing research UNUSUAL

2. Marketing information REALITY on the ground

3. Mitigating RISK in marketing research

4. The new marketing METRICS

New sources of data currency have emerged

Adex & TV RatingRetail MeasurementConsumer Sentiment

Digital Life Survey

World Panel

Ad & Brand Tacking

Consumer DurablesOptical Panel

MediaBancJD Powers IDC

Existing “Currency”

Online Audience Measurement

Web Visitors

Online Audience Measurement

IT, Internet, Consumer Electronics, Mobile, Software & Telco

Social Media & Digital Analytics

Emerging/New “Currency”

New research toolkit

Consumer Listening Post- monitoring consumers comments, opinions and complaints via social media sites

MROC (market research online communities)- consumer panel using social media platform

Neuro-Science- techniques using eye tracking, brain-scan, facial imaging; to gauge consumers response to various stimuli

Mobile- research done on a mobile phone or mobile device

1. Listening post

the internet identifying the sources data retrieval

qualitative & quantitative

social media analytics

1. How much buzz is happening?

2. What are consumers posting?

3. What’s driving the conversation?

4. Feedback on marketing campaign

1. How much buzz is happening?

2. What are consumers posting?

3. What’s driving the conversation?

4. Feedback on marketing campaign

600 tweets per second

700 FB messages per second

2. MROC (market research online) community)

Branded Community

# create your private, branded online community using a proprietary platform

Handpicked Participants

# select and recruit communities that fits into your target profile

Start Conversation

#

Facilitated

# daily / weekly# ask about concepts or generate ideas

Continuous# does not end with just one project

script

2. MROC (market research online community)

Week Activity / Topic

one

Warm up.Say hi. Get members to talk about their background and introduce themselves to the community. Ask related topics eg. ask them about their favourite mobile device

Build profileGet them to build their own profile. This is to encourage connection and ensure that they stay on the community

two

Leisure timeThis is an activity to get into their spare time activities and why they choose to spend their time that way

Circle of friendsGet to know who they hang out with and what they do as a group

StyleCoud ask them to desribe about their sense of style.

Sample of activity dialogue

3. Neuroscience

● Neural explaination to consumer behaviour

● What the brain can tell us when consumers are not able or are not willing to

● Few techniques: 1) Eye Tracking, 2) Brain Scan

3) Facial Imaging (biometrics)

3. Neuroscience – Eye Tracking Technique

● Measurement of eye activity – how the pupil

reacts to various stimuli

● Where do we look? What do we ignore? When do we blink?

Interpreting eye tracking data

• Analyse visual path of consumers

• Each eye data observation is translated into a set of pixel coordinates.

• Presence or absence of eye data points in different screen areas can be examined;

• which features are seen• when it captures the consumers attention• what was overlooked

3. Neuroscience – Brain Scanning

● Unveiling the brain’s inner secrets; assessing the nooks and crannies of the subconscious

● Device picks up electrical waves from the brainas they relate to emotion, memory and attention from specific areas of the brain

3. Brain Scanning - Applications

Product development

Ad test

Corporate identity

3. Neuroscience – Facial Imaging

● Artificial intelligence detects facial muscles

● 143 micro facial movements. Machine learning system is used to decode facial behaviour

3. Facial Imaging - Application

Courtesy from: nViso SA / Gordon & McCallum

4. Mobile

● Passive data capture

● Behavioural data without asking questions

4. Mobile – right conditions

Hardware & Software

Network Connectivity

SocialisationMobile

CentricityMobile

Penetration

Mobile Research EcoSystem

4. Mobile – increasing use of phones as 1st screen

Marketing research – the REALITY

Most MR spending is still on existing methodologies and techniques Most MR spending is still on existing methodologies and techniques

WHAT’S HOLDING UP

CLIENTS

1. Legitimate concerns

2. Tolerance level of risk culture

3. Budgetary mindset

MR AGENCIES

1. “Crossing the chasm”

2. Inherent methodology

3. Right talent

4. CAPEX

TECHNOLOGY

1. Limited providers

2. Technologyonly

Chief Info.

NEW DOMAIN

1. Big data skills

2. Synthesis

3. Chief Info. Officer?

BUZZ WORDS?

Marketing research – emerging REALITY

Venture Capitalist Investments in 2011

Source: Cambiar Capital Funding

Mobile ResearchUS$53 million

Online Ad MeasurementUS$46 million

Passive MethodsUS$26 million

Online CommunitiesUS$20 million

Digital Marketing MeasurementUS$20 million

Mitigating the risk in marketing research

• Clear sets of objectives

• Appoint the right research agency

• Ensure QC’s checks are in place

• Monitor fieldwork and timelines

• Ensure clear deliverables

• Get involve in the analysis and findings

Pro-Active Approach Value Adding Approach

• Focus is on business & marketing decisions

• Working with the selected research agency

• Own MR domain skills

• Research that inspires action

New marketing metrics

Source: Chief Marketer, 2011 Interactive Marketing Survey; May, 2011

� Is your MR budget consistent with this trend?

� Is your MR budget derived as a % of marketing expense?

� Is your MR budget consistent with this trend?

� Is your MR budget derived as a % of marketing expense?

Thank You

[email protected]

[email protected]

Marketing Research & CMO

Education

Transcript of Marketing Research & CMO