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Both data-points invoke a call for change across our industry; the Future-of-Insights panel suggested many actions. Here are two:
Insights functions must implement processes to measure our own ROI, ironic given parts of our industry exist to monetize against the bottom-line efforts of marketing. Client-side departments and agencies should evaluate the impact every research study has on business growth for clients, monetarily where possible. Gone must be the days Insights are allowed to track their contribution by number of interviews or studies completed.
When Insights has made a contribution to business growth, we must be more assertive at claiming our share of FAME for it. Too often our industry gazes enviously at our ‘strategic consultant’ counterparts in the creative world for their ability to market their association with famous campaigns – though of course for every business-driving campaign many failures are left unclaimed. FAME for driving business growth, as well as measurement of our contribution, is a key principle for the future of BrainJuicer’s research business.
So consider what change you can initiate in the next 100 days; a process to measure ROI for the investment your business or clients place in your insights work, effort to build your FAME and association with business growth, or any other myriad of issues on which the industry desperately needs change-makers. In 100 days the heat of NYC’s summer will subside in favor of freezing temperatures; the data-points above indicate how each of us needs to act to change the Future-of-Insights before our industry enters its own ice age.
Alex Hunt, President – Americas, BrainJuicer
Alex has more than 15 years of marketing experience and a track record helping clients grow famous brands and develop award winning and effective communications. He is currently responsible for leading BrainJuicer – a global strategy and research agency – in the Americas, overseeing offices in New York, Chicago, Los Angeles, Miami and Sao Paulo, and was one of the pioneers of BrainJuicer’s FeelMore50™ – for three years a ranking of the world’s most famous, emotional and effective advertising.
Before joining BrainJuicer in January ’09, Alex began his career at Millward Brown, working across a range of large CPG, media, financial and retail clients in both the UK and US. His expertize lies in applying behavioural thinking to brand strategy, product development and communications assessment. Alex is a regular speaker at marketing and market research industry events including the ARF, Jay Chiat Planning Festival, TMRE, IIEX, MRA, AMA, CRC and CASRO as well as several US business schools.
