Research

How to gain executive buy-in in an insight-driven business

How to gain executive buy-in in an insight-driven business

To build an insight-driven business, companies need to bring new technologies and workflows that will allow every team to gather, analyze and share customer insight. However, in most companies today, successfully introducing those new initiatives isn’t easy.

A recent survey from Deloitte, for example, found that embedding analytics into the day-to-day process is a top challenge for companies aiming to be more insight-driven. The same study also identified optimizing insight and measuring the output of analytics as other big challenges. Interestingly, the top challenges highlighted in Deloitte’s survey are the same competencies identified by Forrester as the skills companies need to master to become an insight-driven business.

To drive change, research leaders need to get support and budget for new projects and technologies they want to bring to the organization. At the recent CX and the City meetup in New York, our speakers from Stanley Black and Decker, BuzzFeed and Group Nine Media shared their advice on getting executive-level buy-in. Watch the short video below to hear their answers.

Highlights from the video:

0:16: Shannon Chenoweth, senior market research manager from Stanley Black and Decker, shares how her team convinces decision makers to invest in new research technologies and programs. “You either have to be starting with a problem or an opportunity—something that’s not working now. Or you have to tell them at least what’s the value for them. Show them what it could do.”

1:01: Shannon shares which metrics to highlight to demonstrate value to the C-suite, revealing that the company has saved over $6 million in research cost savings since launching its insight community.

1:19: Ashmeed Ali, head of market and brand research from BuzzFeed, emphasizes the importance of sharing the right information with stakeholders. “It’s really important to get senior leadership on board. You have to roadmap your research plan, sharing those with internal stakeholders to get them aligned with what you want to accomplish. It’s really important that you also get that aligned to the company strategy overall.”

2:25: Bobby LaCivita, senior director of research from Group Nine Media, discusses the type of metrics researchers should highlight to decision makers. “Budgets, dollars and revenue opportunities are always great things to call attention to to get buy-in for a new project.”

2:42: Bobby highlights the importance shining a light on “questions that aren’t answered by passively-collected data sources.”

 

To learn more about the competencies of insight-driven businesses, watch our webinar featuring senior Forrester analyst Cinny Little.

Competencies of insight-driven businesses - webinar with Forrester



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