Research tells us that measuring the ROI from Insights is one of the characteristics of an Insights department that is perceived as a strategic insights partner, or indeed as a source of competitive advantage, within a company*. The same research tells us, however, that only a third of Insights teams actually measure their ROI.
The Boston Consulting Group (BCG) and the Global Research Business Network (GRBN) have teamed up to help more Insights departments become perceived as a strategic partner within their organisations by measuring the return on investment they deliver.
If you want to read more about the background to the initiative and why we think it is so important for the research industry, you can do so here.
The partnership between BCG and GRBN on the ROI from Insights consists of two sub-projects
1. Creating an ROI from Insights self-assessment tool
2. Getting that tool into the hands of Insights departments
BCG will lead the first sub-project, with the support of GRBN, and GRBN will lead the second sub-project, with the support of BCG. You can read more about the second sub-project here.
Creating an ROI from Insights self-assessment tool
The objectives of the first sub-project are to:
- Explain the key reasons companies don’t measure ROI
- Learn how companies that do measure ROI do it, and how they’ve overcome the barriers holding others back
- Create a self-assessment test companies can use to check their measurement of ROI from Insights Audit
BCG and GRBN will be undertaking both qualitative and quantitative research with Directors of Insights Associations in order to increase the level of understanding around this issue and to generate input for the creation of the self-assessment tool.
Meet the BCG team
The BCG team for this project is…
Senior Partner and Managing Director and BCG Fellow, The Boston Consulting Group
The Boston Consulting Group
The Boston Consulting Group
Project Leader at The Boston Consulting Group
Christine Barton, from The Boston Consulting Group, commented “ “We are excited to partner with GRBN on this important continuation of our investment in critical capabilities for growth and adaptation. The time for moving customer centricity, insights and commercial analytics from words and good intent to demonstrated business impact and shareholder return is now to facilitate faster transformation than we have seen in the last decade.”
GRBN is very proud to work with BCG and such a talented group of people on this project, and highly recommend that you read the following BCG Perspectives thought-pieces related to this subject:
- The Introverted Corporation’
- Why Companies Can’t Turn Customer Insights into Growth
- Building a Better Customer Insight Capability
To find out more about this ROI from Insights initiative, please contact us.