Does Steven Spielberg Have What it Takes to be a Market Researcher?

Posted by Heather Magaw

Thu, Feb 21, 2013

By Heather Magaw

It's Oscar week, time for me to reveal a few of the lesser-known parallels between two glamorous industries—Hollywood and Market Research.

Just as the Academy is abuzz about Lincoln and Argo, market researchers can't get enough of two topics: 1) Big Data and 2) Storytelling. You can’t go to a conference or read a blog without hearing at least 5 new takes on both concepts. For us, figuring out how to tell a compelling story with massive amounts of data is exciting stuff. Maybe we should recruit some big-name, box-office talent, like Steven Spielberg, to join the CMB ranks for our next Blockbuster client project.

What? You’re not convinced Mr. Spielberg is cut out for the life of a market researcher? Movie producers and directors sift through mountains of footage, leaving the vast majority of it on describe the imagethe cutting room floor; an extensive team effort transforms hundreds of hours of film into 90 minutes of entertainment. Really, it’s very similar to what we do every day at CMB: analyze mountains of complex data, synthesize it into a focused story, ultimately crafting a business decision focused research report.

At first blush, you may think that research reports don’t stack up to a movie for entertainment value, but for our research junkie clients and information needy executives, a well-written research report that helps them tackle their most difficult business challenges is often even more compelling than the latest blockbuster flick. The art of storytelling in a research report is just as important as it is to movies. Just as audiences would never willingly sit through hours upon hours of raw footage, business leaders have little appetite for sifting through reams of data tables.    

So, I ask, why shouldn’t we be recruiting Steven Spielberg as our next great Practice Leader or Senior Consultant at Chadwick Martin Bailey? As my colleague Athena mentioned last week, our neighborhood has served as a backdrop for a number of well-known movies, he might feel right at home.

Heather is VP of Client Services and always makes a point to read and finish the book before viewing movie adaptations.

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Can't get enough excitement? Register for our upcoming webinar, February 28th at noon: Segmentation as a Strategic Change Agent, with Jeff VanDeVelde of SunTrust Bank.

Topics: Chadwick Martin Bailey, Storytelling, Media & Entertainment Research

Super Bowl Squares: Increase Your Odds of Winning

Posted by Jim Garrity

Fri, Feb 01, 2013

As we prepare for Super Bowl XLVII we thought we'd share, once again, Jim Garrity's tips for picking Super Bowl Squares. Originally published 4/4/2011.

Super Bowl XLVII 011 resized 600Super Bowl weekend is upon us and if you are like most Americans you’ll gather with friends/family to watch the game on Sunday evening whether you have a rooting interest or not.  Maybe you’re a football fan, maybe you’re simply a sports fan, or maybe you’re a fan of commercials.  Even if you’re not a fan of any of it, there are always Super Bowl squares to keep your interest focused on the game.  Ah yes, the classic “gamble” of Super Bowl squares contains all the strategy of the card game War, truly leveling the playing field.  But maybe you’re looking increase your odds of winning…some way to get a leg up on your best friend, 86 year old aunt or 13 year old nephew.  Well, if you are one of THOSE people you’ve stumbled onto the right blog.  At CMB we pride ourselves on turning data into actionable decisions.  So with that backdrop in mind...

You already know that some combinations are preferred over others (specifically combinations containing zeros, threes, and sevens).  But do you know how much better one combination is than another?  Well, assuming you are in one the pools that pays out quarterly here’s what you need to know:

There are 28 combinations that have a positive expectation.  That is, if you had one of these combinations every year, you’d expect to win more money than you lost (of course that assumes you are playing for money, which obviously none of us are!).  Anyway, here are the 28 combinations that you should feel pretty good about:

7-0/0-7

0-0

3-0/0-3

7-7

7-4/4-7

7-3/3-7

4-0/0-4

4-1/1-4

3-3

4-3/3-4

7-1/1-7

6-0/0-6

4-4

6-3/3-6

1-0/0-1

7-6/6-7

But what if you don’t have one of those combinations?  Well, this is where the “turning data into actionable decisions” part comes in… There are 5 combinations worth paying a substantial premium for.  Yes, that’s right if you aren’t lucky enough to get a good combination you might consider taking action and finding someone who isn’t good at math (or hasn’t read this blog) and buying their combination.  Below are the five combinations that each have an expectation of at least 4x.  So if you can separate Aunt Millie or little Bobby from one of these squares for anything less than 4 times the per square price, you’ll be doing ok.

7-0/0-7

0-0

3-0/0-3

However, maybe you’ve been lucky enough to land one of these top 5 combinations and you are watching the game with people who overvalue these combinations.  I’ve already told you that you should be willing to pay up to 4x for each, but what if you wanted to sell?  Since only 0-0 has an expectation greater than 7x, try to get someone to pay in excess of 7 times the buy-in for the others.  For 0-0, get at least 9x.

Lastly, maybe you are one of those people who like to zig when others zag.  Here are two combinations that have a close to even money expectation (actually around .8), but may seem to others to be far worse.   Perhaps you could make someone an offer of 50 cents on the dollar for one of these:

3-1/1-3

4-6/6-4

Whatever you do, stay warm, enjoy the game, don’t eat too much, and NEVER drink and drive.  Good luck!

Posted by Jim Garrity. Jim is VP of CMB’s Financial Services practice, never wears blue jeans to work, and is getting ready to make Aunt Millie an offer she can’t refuse…unless of course she reads this blog post

Topics: Television, Media & Entertainment Research

Belichick, Brady and the Patriot Way: A Culture that Breeds Success

Posted by Kristen Garvey

Thu, Jan 17, 2013

If you’re a Patriots fan you know there’s one thing that’s more consistent than Bill Belichick’s one word answers, it’s his mantra: Do your job. We’ve heard it a hundred times, and while it sounds simple, that kind of focus and trust in your team takes not only a special kind of leadership and management, but a clear understanding of the difference between the two.

 

As we move into this weekend with the highly anticipated match-up between the Ravens and the Patriots it’s clear success runs deep at Gillette Stadium; both rich in history and woven into the very fabric of the “Patriot Way”. It’s about leadership, management, mentoring and culture, but at its core the foundation of the Patriot Way is built on the trust that everyone on the team will “do their job”.

The Patriot Way resized 600

 

As Tom Brady says in the interview the message is simple: “You do your job so that everyone around you can do their job and when people trust each other you can play with anticipation and confidence.” That’s a pretty powerful statement, both on and off the football field. It speaks to their ability to focus and not worry about what everyone else is doing. There’s a lot that can be learned from the way the Patriots not only lead, but manage their success.

The Kraft family and Bill Belichick have built a culture that not only values leadership and management, but understands the differences between the two.  In a recent HBR Blog Management Is (Still) Not Leadership, Dr. John Kotter discusses this very point. Leadership is not something that is for those at the top of an organization; leadership should be fostered and cultivated throughout an organization. One could argue Belichick is not about leadership (and certainly not about charisma), but more about process, focus and management. He operationalizes success through having the team focus on doing their job. While leadership is something that must start at the top, no organization can afford to have it stay at the top. Listening to that clip it’s clear the Patriots have a deep bench when it comes to leadership.

Since we are Market Researchers and everyone loves numbers to back up observations, here are some numbers to chew on:

10 AFC East titles since Belichick became coach in 2000

5 Super Bowl appearances

3 Super Bowl Championships

To put this into perspective in the previous 40 years before he became coach the Patriots won the AFC East 4 times and lost in their 2 Super Bowl appearances. How’s that for doing your job! Go Pats!

Kristen is CMB's VP of Marketing, a mom of two, loves the Patriots, and is focused on doing her job. Follow her on Twitter: @KristenGarvey

Topics: Consumer Insights, Media & Entertainment Research

Predicting Championship Weekend-Segmentation Style

Posted by Sean Kearney

Tue, Jan 15, 2013

After 19 weeks, we’re finally ready to see which two teams will meet on Super Bowl Sunday, battling it out to determine the NFL’s best. I'm really looking forward to February 3rd, because I love football, and because I've got a new take on looking at the teams. After 3 years at CMB, it’s not surprising that a market research perspective has crept into a few areas of my non-work life. Case in point, I found myself thinking about how the NFL season compared to deciding on a segmentation scheme.

I got my first experience with a segmentation project last year, and I found the process of evaluating the different schemes particularly interesting. The schemes that move past the initial round of evaluation often have a few things in common, but there is usually a differentiating factor that makes each scheme unique. In the end, the winning scheme will be the overall strongest of the bunch based on how it supports key business decisions like audience prioritization, messaging and targeting. Evaluation in the NFL is simpler— more points wins.

In the NFL, the 12 teams that make it to the playoffs also have a few things in common. A team usually needs strong (or at least competent) quarterback play to make it to the playoffs, as well as strong coaching. As of this week, we have four teams that definitely have those two factors, but there are distinguishing factors as well:

 

Atlanta Falcons

 

Atlanta Falcons
The Falcons have a dynamic passing attack led by a quarterback who seems to be reaching his full potential this year, along with two Pro Bowl caliber receivers and a Hall of Fame tight end.  This gives the offense the ability to go downfield with ease, which helps to open up running lanes for Michael Turner and Jaquizz Rodgers.

 

 

San Francisco 49ers
San Francisco 49ers

The 49ers spent Saturday night putting the rest of the NFL on notice; they finally have an explosive offense to match their bruising defense. With Colin Kaepernick at quarterback, the 49ers have the ability to make big plays on the ground or through the air. They have arguably the best offensive line in the league, with a coach who is a creative offensive mind that takes advantage of this strength.

 

 

Baltimore RavensBaltimore Ravens
The Ravens have a reputation of being a strong defensive team that does enough on offense to win. This year has been kind of a change of pace, with the offense carrying a number of games. The defense is as healthy as it’s been all year, but I would say the offense is still the better of the two units on this team. Joe Flacco has the ability to throw the ball down the field and is a proven playoff performer, and they have a strong running game with Ray Rice.

 

 

New England PatriotsNew England Patriots
No other team can score like the Patriots. Just last weekend they showed they have guys on the bench, like Shane Vereen, who can come into the game and make plays. They have the best quarterback (by far) of the remaining four teams, and enough offensive personnel to run any number of different formations and plays. The scary part about this team is how well their defense is playing. With that combination of two strong units, this team doesn’t have any glaring flaws to point out.

 

Taking a look at these four teams, I think two stand out. If I were picking my ideal team/scheme I would want to use the Patriots or the 49ers models for victory. If I’m right these two teams will meet in the Super Bowl, which would make for a great game.

Sean is a Senior Associate Researcher at CMB. His lackluster high school football career, spent mostly on the sidelines, led him to the hobby of amateur football analysis. He is a lifelong 49ers fan, but this bias barely affected his prediction.  

Learn more about our proven approach to Segmentation Research.

Topics: Television, Market Strategy & Segmentation, Media & Entertainment Research

Big Data: For Disney, It's All in the Wrist

Posted by Jeff McKenna

Thu, Jan 10, 2013

Disney MagicBandYou may have heard the latest from Disney—they’re about to introduce a new “MagicBand” wristband letting wearers take advantage of perks like skipping to the front of the line for rides, as well as pay for meals, and purchase gifts.  It offers guests the ability to leave the wallet and paper tickets at home and focus on having fun.  The benefits to Disney can be huge, and a lot of people are seeing it that way; as one headline proclaimed: “Disney creates the happiest data mine on earth.”  Pretty clever, but of course there are those who aren’t quite as happy about the innovation; besides the thought of Big Brother entering our lives, won’t somebody think of the tan lines?But let's focus on the business aspect, the ability to track all activities and purchases on-park creates an immense opportunity for marketing, and much of the chatter concerns how Disney can use the data for direct marketing.  Did the guest ride all of the roller coasters?  Target promotional offers touting the latest thrill rides.  Did the guest get a picture with one of the cast members?  Send a doll to the guest’s suite to increase engagement.  Did the guest make a purchase at any of the retail stores?  Give them a coupon for a Disney store near their home.

Nearly everyone is coming up with ideas for how this might help Disney directly sell more of what it offers.  I’d like to think about how Disney can learn from this data in order to innovate and improve the experience.  In the direct marketing examples, the data remains data— it’s used solely to trigger marketing offers.  For market researchers, the data isn't useful until we find relationships that are relevant to decisions.

So, here is my challenge for you: what type of analysis do you think needs to be done?  What potential relationships might Disney find to innovate and change the experience?

I’ll get it started:

Disney could run on-property communication tests to improve messaging and information delivery.  By placing unique signs throughout the park, Disney can track all guests who pass each sign and capture behaviors after passing the sign.  Instead of waiting many weeks or months to gather feedback, Disney can get an “immediate” understanding of which signs work best – and potentially why.

Tell me your ideas in the comments:

Jeff is VP, Market Science Solutions at CMB. He'll have a pair of shiny new mouse ears for the most interesting idea. If he's not wearing his wristband you can still find him tweeting @McKennaJeff.

Topics: Technology, Big Data, Travel & Hospitality Research, Media & Entertainment Research, Retail