The Market Research Event 2010 is taking place this November 8-10, 2010 in San Diego, California. Every Friday leading up to the event, we’ll be recapping one session from The Market Research Event 2009.
Why quality doesn’t matter A report on the terminal illness of Survey Research
Stan Sthanunathan, Vice President , Marketing Strategy & Insights, The Coca-Cola Company
Stan is presented us with two vital slides. As different people have different styles, and he doesn’t want to offend anyone.
Vital slide #1: Why quality doesn’t matter. You must think about the future. If you don’t have quality, don’t come to the party. This is the reason why quality should matter, but it shouldn’t be the only thing.
Vital Slide #2: It’s beyond quality. What’s the next frontier? This slide could be considered less offensive than the first.
85% of research leaders indicated that they are either ‘Neutral of dissatisfied with the impact of marketing research in their company. How can we take respondent engagement to the next level?
Is only debate getting us in the way we focusing on urgent versus important. We probably spend a disproportioninate amount of time on the urgent as opposed to the important. There is hope for the industry going forward, the question is is innovation happening at the pace its suppose to happen?
It’s about helping the company to change shape. Not following the change as quickly as possible. Leaders create change. Followers follow change. Our role as leaders and market researchers is to light the way, and show a beacon of hope for what can change in the future. End user expectations bring value to the table.
Expectations are changing quite dramatically. Going forward, we must put money behind research, innovation, and technology changes that accelerate change. We need to think about how we can bring dramatic changes to the world of our research? How can we use technology to do so?
What’s blocking our way for innovation?
We can’t agree on the definition of insight in the industry.
We don’t ‘know what we don’t know, and we don’t know how to know what we don’t know.
What will our final frontier look like?
The speaker can’t predict the future, but Facebook will become the insight provider for the world. There are 300 million individual users, each have given an extensive amount of personal detail. So we can get a great understanding of human conditions. It’s the best source in the world for information on the human behavior. What is your loyal fan base thinking about your product? What do they do, when do they enjoy coke; all can be found if used Facebook correctly. They’re consumers who love your brand.
Here’s what a company needs from clients and research agencies.
-creative problem solvers,
-Act before the change comes to shape change
-Imagine the world where date becomes a commodity
-Agencies are rewarded for business results delivered.
Focus on: outcomes, inspiring change and creating the future