Research

Even insight-driven businesses have challenges ahead

Even insight-driven businesses have challenges ahead

If you feel as though your business isn’t as insight-driven as you’d like, you’re not alone. Even brands that feel they’ve been made great inroads demonstrating the ROI of customer intelligence still face challenges.

At the recent CX and the City meetup in New York, our CEO Scott Miller asked speakers from Stanley Black and Decker, BuzzFeed and Group Nine Media what hurdles remain pervasive for them, and what is the one thing they need to improve as brands committed to the path of being truly insight-driven. Watch the short video below to hear their answers.

Highlights from the video:

0:27: As the company goes global, Stanley Black and Decker is finding the hardest part is to recruit people to provide insight, said senior market research manager Shannon Chenoweth.

1:28: Shannon said Stanley Black and Decker has been successful at getting busy professionals to take the time to participate in its insight community, but it’s important that company show its appreciation and that their input is valuable. “It’s definitely a give and take.”

1:38: With new revenue streams come new research techniques, said BuzzFeed’s head of market and brand research Ashmeed Ali. This is a challenge for a company that is used to doing traditional publishing research. The insight team needs to be trained on package and product testing and elasticity studies, for example.

2:30: Group Nine Media sees similar challenges with new revenue streams, said senior director of research Bobby LaCivita, but also expanding its platform presence on various social media channels and to better measure what insight they’re getting from them.

2:55: Group Nine is a new company built out of several smaller ones, so a critical step forward is getting alignment on who the audience is for each brand.

To learn more about building an insight-driven business, watch our webinar with Senior Forrester Analyst Cinny Little
Competencies of insight-driven businesses - webinar with Forrester

 



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