Many organizations don’t connect insight with generating revenue, but if brands want to get return on investment from their market research efforts, they need to make the link. At the same time, insight teams must be ready to demonstrate how their activities boost the bottom line.
At the recent CX and the City meetup in New York, Vision Critical’s Scott Miller asked Group Nine Media’s senior director of research, Bobby LaCivita, how insight activities influence revenue in his organization. Watch the short video below to hear his answer.
Highlights from the video:
0:20: “You have to be really good at identifying those activities in a quiet way,” said LaCivita. That means listening to clients and piquing their interest in building in a research component to projects to see if insight can be monetized.
0:53: It’s not just about generating revenue, but also seeing how research can reduce costs by making a campaign more effective, including opportunistic costs that might otherwise fall through the cracks.