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Dear Dr. Jay: Driver Modeling

Posted by Dr. Jay Weiner

Thu, Jun 23, 2016

Dear Dr. Jay,

We want to assess the importance of fixing some of our customer touchpoints, what would you recommend as a modeling tool?

 -Alicia


Hi Alicia,

DRJAY.pngThere are a variety of tools we use to determine the relative importance of key variables on an outcome (dependent variable). Here’s the first question we need to address: are we trying to predict the actual value of the dependent variable or just assess the importance of any given independent variable in the equation? Most of the time, the goal is the latter.

Once we know the primary objective, there are three key criteria we need to address. The first is the amount of multicollinearity in our data. The more independent variables we have, the bigger problem this presents. The second is the stability in the model over time. In tracking studies, we want to believe that the differences between waves are due to actual differences in the market and not artifacts of the algorithm used to compute the importance scores. Finally, we need to understand the impact of sample size on the models.

How big a sample do you need? Typically, in consumer research, we see results stabilize with n=200. Some tools will do a better job with smaller samples than others. You should also consider the number of parameters you are trying to model. A grad school rule of thumb is that you need 4 observations for each parameter in the model, so if you have 25 independent variables, you’d need at least 100 respondents in your sample.

There are several tools to consider using to estimate relative importance: Bivariate Correlations, OLS, Shapley Value Regression (or Kruskal’s Relative Importance), TreeNet, and Bayesian Networks are all options. All of these tools will let you understand the relative importance of the independent variables in predicting your key measure. One think to note is that none of the tools specifically model causation. You would need some sort of experimental design to address that issue. Let’s break down the advantages and disadvantages of each. 

Bivariate Correlations (measures the strength of the relationship between two variables)

  • Advantages: Works with small samples. Relatively stable wave to wave. Easy to execute. Ignores multicollinearity.
  • Disadvantages: Only estimates the impact of one attribute at a time. Ignores any possible interactions. Doesn’t provide an “importance” score, but a “strength of relationship” value.  Assumes a linear relationship among the attributes. 

Ordinary Least Squares regression (OLS) (method for estimating the unknown parameters in a linear regression model)

  • Advantages: Easy to execute. Provides an equation to predict the change in the dependent variable based on changes in the independent variable (predictive analytics).
  • Disadvantages: Highly susceptible to multicollinearity, causing changes in key drivers in tracking studies. If the goal is a predictive model, this isn’t a serious problem. If your goal is to prioritize areas of improvement, this is a challenge. Assumes a linear relationship among the attributes. 

Shapley Value Regression or Kruskal’s Relative Importance

These are a couple of approaches that consider all possible combinations of explanatory variables. Unlike traditional regression tools, these techniques are not used for forecasting. In OLS, we predict the change in overall satisfaction for any given change in the independent variables. These tools are used to determine how much better the model is if we include any specific independent variable versus models that do not include that measure. The conclusions we draw from these models refer to the usefulness of including any measure in the model and not its specific impact on improving measures like overall satisfaction. 

  • Advantages: Works with smaller samples. Does a better job of dealing with multicollinearity. Very stable in predicting the impact of attributes between waves.
  • Disadvantages: Ignores interactions. Assumes a linear relationship among the attributes.

TreeNet (a tree-based data mining tool)

  • Advantages: Does a better job of dealing with multicollinearity than most linear models. Very stable in predicting the impact of attributes between waves. Can identify interactions. Does not assume a linear relationship among the attributes.
  • Disadvantages: Requires a larger sample size—usually n=200 or more. 

Bayesian Networks (a graphical representation of the joint probabilities among key measures)

  • Advantages: Does a better job of dealing with multicollinearity than most linear models. Very stable in predicting the impact of attributes between waves. Can identify interactions. Does not assume a linear relationship among the attributes. Works with smaller samples. While a typical Bayes Net does not provide a system of equations, it is possible to simulate changes in the dependent variable based on changes to the independent variables.
  • Disadvantages: Can be more time-consuming and difficult to execute than the others listed here.

Got a burning research question? You can send your questions to DearDrJay@cmbinfo.com or submit anonymously here.

Dr. Jay Weiner is CMB’s senior methodologist and VP of Advanced Analytics. Jay earned his Ph.D. in Marketing/Research from the University of Texas at Arlington and regularly publishes and presents on topics, including conjoint, choice, and pricing.

Topics: advanced analytics, Dear Dr. Jay

Marketers: Let’s See Some Identification

Posted by Brant Cruz

Fri, Jun 17, 2016

social_currency.pngVery little brings me more joy than a rich data set that smells like a powerful insight is ready to emerge. Likewise, few things create more angst for me than a powerful story hidden in data—when something is there but I just can’t connect the dots. Recently, I was rescued from any long period of angst I might have suffered by a collaboration with two great minds who bring complimentary skill sets to the table.

My two saviors were CMB’s own Erica Carranza (PhD in social psychology) and Vivaldi Partners’ CEO Erich Joachimsthaler (PhD and marketing thought leader). The “aha!” moment came from Erich and Erica’s ability to reframe what the data was trying to tell me—a multifaceted “identity construct” drives all our underlying digital social behaviors. It’s an idea with powerful implications for marketers and other business leaders trying to thrive in this world of digitally empowered consumers. Erich, Erica, and I will be sharing more on these insights and how to use them in our June 22nd webinar, Social Currency: The New Brand-Building Model. 

To help illustrate, I’ve spent the last week retrofitting this new realization to some of the best-of marketing efforts I’ve witnessed in my career, and I found some easy examples in gaming. Two examples in particular stick out. The first is the famous Call of Duty campaign that used the tagline “There’s a soldier in all of us.” The second is this past winter’s Star Wars Battlefront campaign, which leveraged the Star Wars fandom as part of a 30-year story (told in 30 secs). In both of these ads, the consumers—and their identities (real or aspirational)—were the heroes. The games themselves were enablers to further define and broadcast these identities. In a world where the most powerful brand-building content is created and/or shared by consumers, it’s particularly important to understand why consumers undertake the behaviors that Erich described in his original Social Currency work. 

Retrospectively, it’s been easy to see that game marketers have inherently known (or stumbled upon) the concept of identity being a key to great marketing. But, the real eye-opener here is that this same concept proved true for 5 disparate industries (auto, beer, fashion, restaurants, and airlines) in a rich data set of 18,000 respondents and 90 brands, which is the basis for our webinar next Wednesday.

  Register here!

Brant Cruz is our resident segmentation guru and the Vice President of CMB’s eCommerce and Digital Media Practice.

Topics: consumer insights, marketing strategy, webinar, brand health and positioning, customer experience and loyalty, customer journey

How I Used Conjoint Analysis to Plan My Wedding

Posted by Alyse Dunn

Tue, Jun 14, 2016

I’m getting married in August, and the past year and a half of planning has been a whirlwind of fabrics, colors, and decisions. The number of options you have for any given item are immense, and, as a market researcher, I began to consider the choices I had and how I would make them. 

Let’s talk about cake. We tried 15 flavors of cake, and we knew that we could combine any four of them. They could be the same, or we could have 4 different flavors or a combination. Effectively, we had 3,060 possible combinations for cake. Now, that could be very overwhelming, but, to me, it was just a giant Conjoint Analysis exercise.

Conjoint Analysis is a trade-off technique that market researchers use to estimate consumer preferences for products with multiple features. The beauty of Conjoint Analysis is that it allows a researcher to predict preferences for huge numbers of possible product combinations without testing each combination explicitly.  The secret is in attaching a value to each level (chocolate, vanilla, strawberry, etc.) to each attribute (flavor) and making the assumption that the value of the whole is equal to the sum of its parts. For our wedding cake, we were presented with 2 attributes: Flavor and Number of Flavor Repeats.

For this Self-Explicated Conjoint exercise, I listed out the 15 possible flavors and number of possible repeated flavors. I then rated them on a 1-10 scale based on how attractive they were to me. Additionally, I rated each attribute based on how important it was to the final decision. In the case below, the number of repeated flavors was a more important attribute than flavor (60% of my decision). Finally, I multiplied the level and attribute values together to get a utility score.

wedding_conjoint_analysis.png

From there, it’s math! Now, with these scores, I have the ability to simulate all 3,060 cake combinations with their values (that’s a lot of frosting). To determine the “BEST CAKE” you add the utilities together and look for the highest total utility. In our case, it was 2 White Chocolate Tiers, with 1 Lavender, and 1 Italian Crème, with a total utility of 2,060. This very narrowly beat out 4 independent flavors (White Chocolate, Lavender, Italian Crème, and Chocolate) because of the high value for White Chocolate. 

Conjoint Analysis is helpful for numerous research needs (wedding planning included). Presenting individuals with various combinations of attributes helps determine how each attribute is valued, which can be projected to the larger population. By making tradeoffs when comparing different combinations, I was able to choose a cake that worked for our event. For organizations, Conjoint Analysis can help determine which new product features will perform the best, which hotel packages offer the biggest bang for the buck, or which insurance items will be most desirable to individuals. Conjoint is applicable across any organization and is a valuable analytical tool to help determine which combinations of attributes perform best. 

Learn more about avoiding common pitfalls in Conjoint Analysis. 

Alyse Dunn is a Data Manager at CMB, and she looks forward to how her Conjoint Analysis exercises in wedding planning will pay off (and thanks our Senior Analyst Liz White for socializing this example).

Topics: advanced analytics, research design

Writing the Legacy of the Insights Industry

Posted by Brant Cruz

Wed, Jun 08, 2016

lightbulb.pngLast week my family and I vacationed in Virginia—a trip that combined the theme park and pool activities my kids begged for, with a big dose of the US history my wife and I wanted them to have. Our first stop was Monticello, long-time home of Thomas Jefferson. Jefferson’s legacy is accomplished and complicated—he was Secretary of State, Vice President, and our 3rd President, but he was also a historian, philosopher, inventor, and slave holder. An avid reader and collector of books, he sold his massive library to the Library of Congress after its collection was destroyed by the British during the War of 1812. What resonated most for me, however, is how concisely Jefferson chose to have his life summarized on his gravestone. He left these instructions:

"...on the faces of the Obelisk the following inscription, & not a word more: 

Here was buried
Thomas Jefferson
Author of the Declaration of American Independence
of the Statute of Virginia for religious freedom
& Father of the University of Virginia”

A lifetime of major accomplishments (which might even include the invention of the pedometer. . . you’re welcome Fitbit!), and he lists only the three most important to him?

It got me thinking about the legacy that I want the “information industry” to leave the world—because I know that no single one of us can leave a legacy like this alone. Here’s my shot at one (Jefferson style):

Here is buried
The first true generation of Insights Integrators
Data scientists and artists both
who aggregated and codified the massive mysteries of the what’s and the why’s
and paved the path to true customer centricity 

This is bit more verbose than Jefferson (which shouldn’t surprise anyone who knows me). But you probably get the point. Beyond his headstone, Jefferson also inspired me with several quotes, which I am convinced were prophetic advice for our profession today:

  • On allocating budget to future focused and/or innovation research: “I like the dreams of the future better than the history of the past.”
  • On the dangers of non-response bias: “We in America do not have government by the majority. We have government by the majority who participate.”
  • On report writing: “The most valuable of all talents is that of never using two words when one will do.”
  • On making data-driven recommendations: “In matters of style, swim with the current; in matters of principle, stand like a rock.”

I hope you’ve enjoyed this little history lesson, and I look forward to seeing your suggestions for our headstone.

Brant Cruz is our resident segmentation guru and the Vice President of CMB’s eCommerce and Digital Media Practice.

Join Brant and Vivaldi Partners Group’s Erich Joachimsthaler for a webinar on 6/22 at 12:30PM EST as they share the results of a 90 brand study. Learn how Social Currency measurement helps brands activate the 7 levers that encourage consumers to advocate, engage, and gain real value.

Register here!

Topics: consumer insights

Which #MRX Conference Is Right for You?

Posted by Julie Kurd

Thu, Jun 02, 2016

In the lives of kids and teens, you have your birthdays and your “half” birthdays. In the world of market research conferences, you also have main events and “half” events—the main events are the IIR TMRE Conference (in October) and the MRA’s Corporate Research Conference (in late September). These are the coming-of-age events—lots of attendees, many tracks, guest speakers whose names you recognize, and clients from the world’s leading brands.

In my role at CMB, I participate in a lot of conferences. In addition to the large fall conferences, there’s a lot to be learned at the smaller conferences that bloom each spring. As you think about what you want and expect from your conference experience, crisscross the country with me as I share a little about 2 great “half” events:

ISC2014LogoLong.pngMRA’s Insights & Strategies Conference (ISC)

The MRA ISC is perfect for low pressure networking and conversation, and the content is great. Here are some reasons to register:

  • Your boss will approve of the cost, and your family will love the shorter duration. This conference was located in New Orleans this year—which is a convenient nonstop flight from most US locations—and, with a civilized 1pm check-in, you can get a full day of work in before you go. Less expensive than other comparable events, this conference offers several tracks, covering dozens of topics with 45 speakers. In contrast with the super large conferences (which many extroverts like me love and attend in Q4), this conference has a manageable ~400 attendees.
  • Learn about new innovative companies and techniques, and reconnect with your key research vendor partners. Unilever’s Marie Wolfe introduced me to two nicely positioned qualitative research solution companies: Discuss.io and WeSeeThrough. These two innovative qualitative research companies offer new options for online qualitative—rapid online interviewing from Discuss.io and sensor technology from WeSeeThrough. Companies like CMB are there too, mixing new and proven techniques with tried-and-trusted rock solid execution.
  • Exceptional networking. Networking is essential to remaining vital in the workforce, even if speaking to strangers isn’t your favorite thing to do. ISC builds in a lot of natural networking functions with different types of people in mind—sessions are small, large, adventurous, workshoppy, and sometimes even involve bacon. Sessions range from 20 minutes to 1 ½ hours and are often interactive. The meals are all varied, so you can sit at large tables one meal and walk around cocktail style for another meal.
  • Location, location, location. MRA does a great job pushing us to truly experience the city we’re in. Whether you’re visiting a local company or trailing a marching band down Bourbon Street on a Wednesday night, if you attend an MRA conference, you’ll venture outside the hotel because they create activities and experiences for you to do it. MRA is great at picking cool new places that even frequent travelers like me haven’t visited, including St. Louis and now New Orleans.

IIR’s TMRE in Focus: the New Face of Consumer Insights

tmre_in_focus.pngI initially wondered if it was worth it to lose a day at the office flying from Boston to California to attend such a small (125 person) event. In addition to strong content, here’s why I’m glad I participated:

  • Hands-on, experiential sessions. This conference experimented with new, hands-on, experiential formats, including workshop breakouts. For example, during the Netflix session, we all collaborated at tables of 4-8 people to condense 6 slides into 2 to get a more relevant storyline from the insights. Every table had new ideas and enhanced the final discussion. This hands-on collaboration helped to create mental “stickiness.”
  • Problem solving perspective. Speakers were focused on solving client side researcher problems, ranging from improving the research organization and impact at your company to collaborating on a common goal. The digital world requires serious structural changes to assess and prioritize every option for your brand. For example, when Pinterest spoke, they focused on the rising tide of DIY (do it yourself) research and noted that the company’s department of 10 researchers handles all qual and quant in-house. Pinterest’s researchers are focused on helping the company become a catalog of ideas where people can discover, save, and share the things they love. As you evaluate the research department of tomorrow, look to your peers for clues on how to structure it, what to outsource, and whether to centralize or decentralize the research budget.
  • West coast orientation. Attendees were primarily from the west coast (Gap, Microsoft, Netflix, Warner Brothers, Twitter, Pinterest, Kendall Jackson, Gallo, etc.). A number of non-west coast attendees were from companies like L’Oréal that could combine the trip with office visits to its sub-brand home offices. This is a location-focused conference. So, if you want to connect with NoCali and SoCali researchers, this might be a good option for you.   
  • In hotel experience. This event took place at the Ritz-Carlton at the world’s largest marina—Marina del Rey. We took initiative to leave the “campus”—venturing to Venice Beach and Santa Monica—and invited other conference-goers after the conference ended both nights, or we never would have left the hotel. Meals were simple, and the conference started late and ended early each night.

If you’re sending people to several conferences next year, or if you’re choosing from all your options, consider the May conferences. First, compare both agendas to see if one conference has more content you’re interested in or more speakers from companies you want to learn from. Next, take location, time of year, and conference size into consideration. When it’s time to decide, weigh all the information against your goals. Happy learning! 

Julie blogs for GreenBook, ResearchAccess, and CMB. She’s an inspired participant, amplifier, socializer, and spotter in the twitter #mrx community, so talk research with her @julie1research.

We've had a busy month of attending conferences. Couldn't make one? 

Read our recaps!

Topics: consumer insights, conference recap

CMB Conference Recap: Uncovering Innovation - the Clay Street Project at P&G

Posted by Ed Loessi

Mon, May 23, 2016

Light_bulb_with_plant.jpgThis month, I had the opportunity to attend the Front End of Innovation conference here in Boston. One of the most exciting keynote addresses was provided by Karen Hershenson, Leader of the Clay Street Project at Procter & Gamble (P&G) and was titled Innovation from the Inside-Out. The idea of innovation from the inside-out is especially intriguing to me, because CMB has committed to extensive efforts in product development and innovation. We’ve formed an innovation group within the company—drawing participation from people all across the organization. Having been involved in innovation programs for the better part of 10 years, I've learned innovation is not a one-size fit all proposition and that it’s essential to learn from other leaders and companies about how they harness innovation within their organizations. Karen’s story and ideas did not disappoint.

5 Key Lessons from the Clay Street Project:

Karen leads a team of designers, educators, and marketers that solve innovation challenges for P&G brands and noncompetitive Fortune 500 companies. The group—the Clay Street Project—was formed in 2004 and has been instrumental in building innovation teams, individual innovation and creative skills, and impacting many P&G brands. The group is often tasked to solve problems that keep their leaders up at night, addressing cross-business-unit challenges, and looking at entirely new products, or processes that have hit roadblocks.

Karen highlighted some of the key things that drive the delivery of innovation for Clay Street and P&G including:

  • Use a defining question – “How might we?”: I found this to be an excellent question because it's entirely open-ended, it doesn’t pre-suppose or seek to direct a particular path, it just asks “how” and lets the person take that first step.
  • Create the conditions, innovation from the inside out: This is essential. Innovation is not something that can be mandated. Innovation is something you seed, water, nurture, and see what happens, course correcting along the way. On their website, Clay Street notes that innovation is a by-product of work, team, and systems and that many organizations make the mistake of focusing on only one of those, which kills the entire process.
  • “All practitioners of innovation have a process, and we're no different”: I, in particular, liked this idea. I could clearly see the team has a process, but it’s an open process. The process of starting with the right question and creating conditions, which seems a bit fluid, are in fact a process. It’s just that the process doesn’t dictate how you work, nor does it say that your challenge can be solved using this templated idea. By letting the team figure these things out on their own, it’s more likely they’ll learn the lessons and that knowledge will stay with them as they move out into the organization.
  • Help teams deliver better long-term value: Ultimately, this is the mission of the Clay Street Project. Innovation impacts so many areas within a company, and there are many individual measures along the way, but in the end, it’s about better long-term value.
  • Understand your environment: As a global company, P&G requires deep consumer insight and long product pipelines filled with solutions for many different types of customers. The types of innovation that P&G need are different from other companies. There are many innovation methods and philosophies to embrace, but you must choose the ones that match your company’s culture and customer environment.

I saw many things within Clay Street’s guiding principles that are relevant to CMB. In particular, the need to create the conditions for innovation. As a company, CMB has been innovating for three+ decades; we may not have always called it innovation, but we have now put a stake in the ground, and we are calling it out, putting resources towards harnessing innovation as a defining principle. We are clear in our minds that innovation is how we are going to create long-term value for our clients and the company. Finally, we understand our environment, which is part of a rapidly changing service and information industry. Market research is being impacted by technology, changing service models, big data, and client competition. Our need for innovation has its drivers, but I could see that it has many of the same requirements as those of a larger multi-national company like P&G.

Ed is the Director of Product Development and Innovation at CMB. He thinks there is a game changing product or idea within everyone and it’s his job to dig it out. You can share ideas with him @edloessi

Topics: product development, consumer insights, conference recap, growth and innovation

CMB Conference Recap: NEMRA’s Spring 2016 Conference

Posted by Ashley Harrington and Brian Jones

Thu, May 19, 2016

nemra-logo.gifLast week, we spent the day at the New England Market Research Association’s (NEMRA) Spring 2016 Conference, learning from colleagues in the region, both on the corporate research and consultant/provider side of the business. There was a lot to take in, but a few ideas particularly stuck out to us:

  1. Embrace Agility: A session on the lessons we can learn from startups challenged us to dismiss existing perceptions of “agile” research as simply “fast and cheap.” Instead, he encouraged us to think about market research agility in terms of being flexible, working smarter, and challenging the industry or process-related status quo (without sacrificing data integrity).
  2. Be Consultative: While “faster” and “cheaper” are often king, we also have an opportunity to be better by being more consultative (which is critical to CMB’s approach). A panel of corporate researchers at the conference underscored the importance of research partners being more consultative by:
  • Developing a better understanding of how researching findings will be used. If findings are going to be used primarily to convince a C-level executive of one key point, a one-pager should be included in the report that addresses that point clearly and concisely.
  • Telling the story and delivering insights—not just “data dumps.” While the panel acknowledged that the research team may want the 100-page report for their own edification, a project is only successful when the data is socialized and shared off-team. We have the opportunity to help organizations do that. 
  1. Evolve: A speaker on mobile data collection and another on gamifying research encouraged us to consider instances when incorporating new tools might help us better solve our clients’ research problems. For example, there’s an exciting opportunity to capture real-time path-to-purchase data with mobile, in-the-moment research. With gamified questions in an A&U study, we can help better engage respondents and collect richer data (e.g., asking respondents to play a game in which they enter words to try to get another respondent to name a brand—think Catchphrase for a brand study). In both cases, it’s important that we stay at the forefront of what’s new and useful in the industry without forgetting to apply the same critical thinking and rigor to any “new” tools that we do to the tried-and-true ones.

What innovative approaches to research have you been exploring?

Ashley Harrington is a Senior Project Manager who leads projects for world-leading financial services brands. Outside of work and attending conferences, she enjoys managing the ultimate project a10-month old baby boy.

Brian Jones is a Senior Project Manager at CMB. He enjoys the sharing of ideas among peers at events like NEMRA’s Spring Conference.

Topics: strategy consulting, conference recap

CMB Conference Recap: IIR’s Front End of Innovation

Posted by Heather Magaw and Jen Golden

Wed, May 18, 2016

Front-End-of-Innovation.pngOne of our favorite speakers at the Front End of Innovation Conference (FEI) this year was Greg Brandeau, former EVP and CTO at The Walt Disney Studios and former SVP at Pixar. His talk centered on a book he co-authored called Collective Genius, which provides insight on how to create a culture of innovation in business. He presented a simple, yet compelling, definition of innovation: any change that is both novel and useful. It can be any type of change—a business process, an approach to customer service, a new product idea, or an old idea applied in a new way. 

As he was speaking, we were struck by how many of his key points aligned with themes from an all-company meeting we had both attended earlier in the day. CMB is constantly looking for ways to continue innovating across our organization, so perhaps that’s why this speaker resonated with us. Here are a few key takeaways:   

  • Decision-focused point-of-view: In order to be innovative, a business must have a focused point-of-view that drives towards a specific objective. Creating alignment within innovatively driven organizations can be challenging, but necessary. This enables all employees to work toward the same goal and take the risks to get there. 
  • No one walks on water: Greg debunked the myth that innovation is an idea or solution that comes all at once to a single person. The reality is that innovation is a team sport, which involves gathering ideas, gaining knowledge, doing research, getting feedback, evolving the ideas, etc. Everyone in the organization has something to offer, and it’s the leader’s job to identify what that is. Need an example? When Vineet Nayar took over India-based HCL, he admitted that he didn’t know exactly how to set up the struggling brand for success, so he pulled together a team of young employees and told them to come up with a plan. By embracing a new style of leadership, the company’s sales increased dramatically over the next few years.    
  • Collaboration is key: Creating a genuine sense of community is necessary for nurturing innovation. Community exists at the intersection of a shared purpose, shared values, and rules of engagement within the organization that define how individuals and teams behave, interact, and think about solutions. Truly innovative groups are able to elicit and combine members’ separate slices of genius into a collective one. 
  • Learning culture: During Greg’s career at Pixar, he spoke of a time when they nearly lost all the data from Toy Story 2. Since Greg was ultimately in charge of making sure something like this did not happen, he immediately went to Steve Jobs and turned in his resignation letter, assuming he would be fired. Steve didn’t accept it, however, reasoning that Greg had learned from his error and that it would set a bad example within the organization if someone was fired over a mistake. The takeaway? Employees might be less likely to try something new or take a chance in the future if they’re constantly worried about the possible repercussions of failure.

Tomorrow’s leaders are tasked with driving—not just executing— innovation. The leaders that will be most successful at evolving their organizations will be those who:

  • Shape the context for their employees, rather than mandate the direction
  • Amplify, rather than minimize, differences among employees and their teams
  • Create communities of people who innovate rather than expect employees to be followers who execute 

At CMB, we’re willing to take chances (on ideas and employees), which ultimately leads to a committed culture that is striving to be better. Is your company? 

Heather Magaw is the VP of Client Services. This was her first year attending the Front End of Innovation Conference, but it won’t be her last. They hooked her with the fresh fruit infused water as well as the host of great speakers. 

Jen Golden is a Project Manager on the Tech/e-Commerce team. This was also her first time at FEI, and she was happy to hear that almost losing all the Toy Story 2 data helped foster creativity at Pixar, which enabled the creation of characters like Wall-E, Dory, and Mike Wazowski.

Come innovate with us!

Open Positions

Topics: Chadwick Martin Bailey, conference recap, growth and innovation

CMB Conference Recap: Yale’s Customer Insights Conference

Posted by Julie Kurd

Wed, May 11, 2016

Logo_Yale.jpgA hidden gem of a Consumer Insights conference, the Yale Customer Insights Conference is great for researchers seeking advanced quantitative methodological thinking. This conference is a rare mix of business and academia. Well-known PhDs came from Yale, Harvard, Columbia, and Wash U to share their research and findings. Not to be outdone, mega-brand thinkers from companies including Spotify, Vail Resorts, Viacom, and REI also came to share their insights. Here are a few key takeaways:

  • Peter Fader discussed how Customer Lifetime Value (CLV) drives business forward. He had an abundance of wondrously specific cases, including how Starbucks is shifting from knowing your “usual” locally to knowing your “usual” virtually so that you’re able to have a personal and frictionless experience no matter where you are. In other words, Starbucks has become “a CRM company that monetizes through coffee.” This attempt to understand what each customer wants/needs at the atom level is a prime example of what Starbucks is obsessing over (and it’s not the next roast).
  • Kirsten Lynch, the CMO of Vail Resorts, focuses on the emotion and passion of Vail’s very specific target audience. The company’s segmentation scheme directly feeds everything they do. The target customers are not just pedestrian affluent—they are significantly wealthy, with average household incomes of $280k, so the customer mindset is very focused on exclusivity and excitement (vs discounts). When guests return to one of the resorts, everything they do is tracked in the Vail app: ski runs, where they dine, the people they’re with, etc. Like Starbucks, the data again is available at that atomized level, which not only allows Vail Resorts to personalize the experience for the guest, but also allows Vail’s leadership to assess strategic assets and ask: what do we need next? Another lift or another restaurant? Where do we need it, and why?
  • Spotify took all of the data it collected last year and used it on a “Year in Music” campaign, which was not only able to give each subscriber a recap of his/her year in music, but also able to give specific countries and zip codes information on the most popular songs/albums in that area. Fun fact: Eric Solomon, Director of Global Brand Strategy for Spotify, shared that Justin Bieber’s “Sorry” was the most popular song last year in Williamsburg, one of NYC’s trendiest neighborhoods (can Beliebers be trendy?). People now listen to more than 40 hours of music in a week (yes, that’s the level of a full time job), and Spotify is using this data to segment by mood states (party, focus, sleep, workout, etc.) instead of by genre.
  • Ross Martin, Viacom’s EVP of Market Strategy and Entertainment, talked about how the company is moving passive fans to active “super” fans and discussed the shift from selling impressions to engagement. How can brands acknowledge and celebrate these super fans? Martin shared an example of a Millennial asking Viacom if he could make Ninja Turtle cuff links (a potential trademark violation) for his wedding. Viacom not only approved the use, but actually manufactured the cufflinks and sent them to the entire wedding party for an experiential point of connection with its influential fan base (which was an earned media opportunity for sure).
  • Michel Tuan Pham from Columbia Business School discussed how feelings and emotions affect our judgments and decisions. Whether there’s a “like” button or the option to give something a rating (e.g. 5 stars), people derive pleasure from the act of liking or rating something. His research found that even when there are no stakes and no decisions to be made, people like to “like.” His research examines motivation (narcissism) for these “likes”—and he concludes that as marketers, you should emphasize the “you” when asking customers to “tell others how YOU feel about Product X” because it’s more narcissistic than altruistically motivated.

Be sure to add this conference to your calendar for next year, and we’ll see you there.

Julie blogs for GreenBook, ResearchAccess, and CMB. She’s an inspired participant, amplifier, socializer, and spotter in the twitter #mrx community, so talk research with her @julie1research.

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Boaty McBoatface: Social Media Meets Market Research on the Cyber Seas

Posted by Brian Jones

Mon, May 02, 2016

Boaty_McBoatface.pngIn case you missed it, the UK’s Natural Environmental Research Council (NERC) asked a silly question on a serious topic, and the cyber seas responded in kind. News media and bloggers converged in viral fashion and grabbed the opportunity to steer the campaign on their own course. I put my market research cap on and joined the flotilla. 

Background on the Buzz

On March 17th, the NERC agency launched a campaign to promote the future launch of their newest and largest research ship, designed to carry scientists and their equipment to the earth’s Polar Regions. Their #NameOurShip campaign invited the public to submit name ideas, and it quickly caught on as an opinion poll. The cyber buzz really unfolded after a public relations professional suggested the name “Boaty McBoatface” upon seeing other silly names people had posted, and the name sailed to the top of the boards. On April 16th, NERC pulled the plug on collecting votes, and a NERC spokesperson stressed that there is no guarantee the ship would be named after the winning entry because the final decision will be made by the chief executive of the organization.    

What I Learned from Those Influenced by the Campaign

The #NameOurShip campaign was hugely successful in emotionally engaging the public, despite the backlash to NERC scuttling the winning name. People left waves of comments for NERC’s leadership to surf through.  

“The only reason I ever heard of this is because of the name controversy. Far more people are likely to stay interested in Boaty McBoatface than some humdrum 'sensible' name, because it has already been adopted as a kind of maritime national pet.” (Comment posted on one of the many Boaty Blogs)

 The comments made for an interesting read, and I came up with a few takeaways. 

  1. There is a deserving national identity with heroic British polar explorers that would look great in large letters on the transom of a $300 million research ship, e.g., the “RRS Henry Worsely” (15,774 votes). Henry Worsely died in January while attempting to complete the first solo and unaided crossing of the Antarctic—just 30 miles short after crossing 900 miles in 71 days. 
  1. Beneath the veneer of the online pranksters and goofballs who posted votes for names like “Ice, Ice Baby” (3,673 votes) and “Boatimus Prime” (8,365 votes), the public clearly wants a memorable name that makes a global statement about British identity, and for some, that’s a whimsical endeavor. 
  1. For some, “Boaty McBoatface” (124,109 votes) presents an opportunity to do public good on the behalf of NERC’s commitment to the pursuit in education in science. The “RRS Dora the Polar Explorer” (983 votes) might not get smirks from scientists performing serious research, but mom and dad might have a more favorable impression of NERC if their child’s bath toy had “NERC” and “Boaty” logos on it. 
  1. Interestingly, very few online posts revealed interest or concern with NERC’s mission to explore issues such as environmental hazards, natural resources, and environmental change. Instead, the names “Steve Prescott” (1,413) and “Poppy-Mai”/”Princess PoppyMai” (40,384 votes) received buzz; both individuals were struck down with rare forms of cancer. If NERC more clearly links their mission to staving off visible human or ecological tragedy, they might make good use of the awareness equity that their campaign has generated. 
  1. For others, the campaign was a pretended attempt of government to give citizens a voice when the final decision rests with privileged few. This is compounded by anxiety over the upcoming European Union membership referendum. NERC must navigate public sentiment in an environment where people are a bit on edge. This is expressly dangerous when a social media campaign is presented as crowdvoting. While crowdvoting or crowdsourcing can be a legitimate form of research, when public perception can’t differentiate a PR campaign masked as a public opinion poll from serious market research, it erodes researcher’s ability to get reliable market insights. 

For market research to work, we need the public to be smart—not silly. There is research value in capturing emotional response, but we need to strive to capture unbiased rational opinion. Social media marketing can taint the waters for research if the public perceives a campaign as being less than honest and truthful. 

The Australian Government is now pirating the #NameOurShip approach for their own new Antarctic scientific research vessel, vowing to avoid the ballast that seemingly sank public opinion of the UK’s campaign. I can’t wait to see what the Aussies come up with. 

Brian is a Senior Project Manager at Chadwick Martin Bailey. Given his Navy background, he feels compelled to point out that the vessel-who-must-be-named is not actually a “boat” and should be called “Shippy McShipface.” 

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