2019 NYC Insights Executive Roundtable
2019 NYCInsights Executive RoundtableAI strategies to run an insights-driven businessMarch 29 2019Market Logic 2019 CONFIDENTIAL 1
AttendeesJessica BernowDirector, Research AgencyManagement & OperationsJustini HungDirector CustomerInsights & AnalyticsSandipa DublishSr. Director Commercial Insights:Inflammation & ImmunologyJason ChebibVP Consumer PlanningVal FotiSVP Marketing and Customer ExperienceTherese GlennonVP Customer Insights & Market ResearchJoaquin Garcia-LopezDirector, Global Market Research ExcellenceCarol ManninoDirector - Consumer and Customer InsightsMichelle MattreyVP Insights & AnalyticsRichard ThorogoodGVP People, Culture & Market InsightsMichalina LongoSr Manager Competitive IntelligenceFrank SantiagoGlobal Knowledge Management ManagerValerie MolinaConsumer Research AssistantNYC Roundtable 2019Karen ScherbaumGVP Consumer InsightsMarket Logic 2019 CONFIDENTIAL 2
AttendeesFlynt TullerAVP Global MarketingStrategy & ScienceSteven KarunphandMarketing Sciences KnowledgeManagement & Operations LeaderSiddartha AdukiaDirectorKatie SolovievaVP AlpaWise Primary ResearchTina TonielliVP Global Consumer Experience (Insights)Roberto CymrotDirector Consumer InsightsAlyssa ElserDirector, Customer InsightsLauren BanksMarket Research SpecialistKent BassettVP Global Consumer and Shopper InsightsColleen Fahey RushEVP, Chief Research OfficerJackie ChanVP, Head of Decision Insights GroupDaniel BlattDirectorAllyson HugleyVP, Analytics & Market ResearchNYC Roundtable 2019Jenny MichelmanGlobal Consumer Insights ManagerMarket Logic 2019 CONFIDENTIAL 3
Agenda10:15 Colgate-Palmolive case study11:15 AI to run an insights-driven business11:45 Panel discussion12:15 Networking lunch14:00 CloseWelcome from our hostRichard Thorogood, Global VP Insights at Colgate-PalmoliveRichard welcomed guests to the third NYC roundtable, recalling the first meeting in 2017 andthe significant chnage in the field of insights management since that time. In this context,he introduced the Colgate-Palmolive knowledge management team and their journey totransform from a research tool for the insights organization to a business platform that drivescommercial decisions.NYC Roundtable 2019Market Logic 2019 CONFIDENTIAL 4
Case study: Colgate-Palmolive“Driving Insights Globally: the dig journey, March 2019”Frank Santiago, Knowledge Management PioneerValerie Molina, Knowledge Management AssociateFrank Santiago sketched the diversity andbreadth of Colgate Palmolive, which spans petnutrition as well as oral, personal, and homecare sectors, and 34,000 people generating 15.5 billion revenue in 200 countries. Aglobal insights team supports this work withfeet on the street in every regiont, and aknowledge management team to “effectivelycapture, transfer, access and synthesize theright insights, knowledge and information in auser-friendly way”.Unlike many companies, Frank said ColgatePalmolive has invested in knowledgemanagement function since the 1980s,starting with a physical library that upgradedover time using the technology of the day toorganize research resources for the insightsteam. In 2016, the team decided to take theknowledge management to the next level withNYC Roundtable 2019technology from Market Logic. Following asuccessful pilot, where standard software wasconfigured to reflect Colgate’s unique ways ofworking, the team decided to deploy solution,immediately focussing effort on branding theplatform for success.“Our goal is to effectivelycapture, transfer, accessand synthesize the rightinsights, knowledge andinformation in a userfriendly way”.Frank Santiago, Global KnowledgeManagement ManagerValerie Molina explained that the deploymentjourney started with a name that goesbeyond the idea of searching for insights:Market Logic 2019 CONFIDENTIAL 5
Driving Insights Globally (DIG). This was thefoundation for a logo that stood apart fromthe frequently-used light bulb icons thatlitter the insights landscape. Additionally,the brand and activation strategy neededa spokesperson, so the team developedDarci, an avatar that guides users throughtheir training programs and appears on allbranding, from merchandising to posters,events and monthly newsletters.By 2017, the team had already started“digging” for insights. In addition tosearching and finding insights fromqualitative research, the team introducedbenchmarking libraries where users cansearch concept, copy and pack tests bytopic, category and region, and sort bystandard test scores and KPIs. This makesit easy to review past creative, as well aslearnings from past campaigns. Dedicatedlibraries are also provided for easy accessto brand health reports and Marketing MixModelling.Teams have stoppedrepeating past mistakes,and are investing savedresearch dollars in newfoundational insights.Frank Santiago, Global KnowledgeManagement ManagerFrank said “return on insight from theselibraries can be described in terms ofefficiency and effectiveness”. For efficiencygains, teams access relevant tests at anytime and have stopped repeating knownconcepts. They also get better results ontheir first try, while reducing the number oftests needed to achieve action standard.From the effectiveness vantage point, teamshave stopped repeating past mistakes, andNYC Roundtable 2019are investing saved research dollars in newfoundational insights. Most importantly, theyare consistently making winning decisionsthat boost growth”.Building on this success, Frank said DIGexpanded from “everything in one place to an automated platform to dig, create,collaborate, approve, build knowledge andshare insights, with a fully automated end toend research process”.The platform supports creation of theproject budget, development of the projectdetails for signoff with internal stakeholders,supplier selection and proposaldevelopment, procurement approvalcommissioning, acceptance of results andpublication for re-use. End to end researchsupport is expected to deliver efficiencysavings of 10% on the research spend, byreducing duplication of research throughmore efficient vendor management.For Frank success factors include acentralized system for self-service, betterways to partner with research suppliers,and benchmarking libraries. The success ofDIG, he said, was due to the close teamworkbetween insights leadership, insightsprofessionals, the IT team, and MarketLogic. In closing, Richard acknowledgedthat the technology is but one part of thetransformation journey. “We used to guardinsights fiercely, now we are getting betterat curating and promote knowledge to ourbusiness.The next step is to deploy the platformacross the commercial enterprise so that allthe sales people have the insights they needwhen they go out and talk to accounts.”In a lively Q&A, Richard, Frank and Valeriefielded questions on usage barriers, ROI,Market Logic 2019 CONFIDENTIAL 6
resources, introducing a culture of knowledge sharing, remote access and impact on agencies.They said: Start with a fully populated system so users see great results from their firstsearch onward Be prepared to adjust and optimize workflow configurations, as software enforcesideal best practices humans don’t always follow Integrate secondary sources to extend reach Reward people and agencies when they upload content to encourage compliance,and automate wherever possible to eliminate effort Equip users with a mobile app so they can challenge positions and argumentsin meetings The main source of ROI is cost avoidance through the elimination of “preventative research,”and time saved to focus on driving insights through decision processes.NYC Roundtable 2019Market Logic 2019 CONFIDENTIAL 7
AI to run an insights-driven businessJason Childers, VP Global Solutions, Market LogicJason reminding everyone of what theyalready knew: “in the age of the customer, dataand analytic-driven actions are essential. Thedata and analytics are there, and companiesknow they need to use them (in fact, 73% ofbusinesses aspire to be data driven), but mostcompanies don’t know how to turn data intoaction. It’s a massive insights gap”.So how can companies close the gap betweendata and insights? Jason said Market Logictechnology is designed to help companiesconnect all their data and tools on oneplatform so they can leverage all their researchand analytics investments. Agile researchmethods can then be used to build consumerknowledge by generating fresh insights, whichcan then be injected in business processes(innovation, marketing and sales).Jason shared evidence to show how beinginsights-driven can boost revenue growth.For example, Forrester says insights-drivenbusinesses grow 30% annually (at least 7xfaster than GDP) , while McKinsey analysisshows companies that integrate data andcreativity have twice the growth rate of thosethat don’t . He added that from an efficiencyNYC Roundtable 2019perspective, “Market Logic’s own clientbenchmarking shows that knowing what youknow before you research saves up to 15%on your budget”. Transforming from dataaware to insights driven involves re-settingfundamental operating principles. Jasonsaid that inside data-aware firms, users goto information when they think they needit, so business decisions are only supportedby data, while centralized reporting breedsover-reliance on expert teams.By contrast, inside insights-driven firms,information goes to users wheneverthey need it, which encourages agileexperimentation and continuous learning incross-functional teams. He then presenteda live software demonstration to illustratesome of the key success factors to deliverinsights to users, including personalizeduser experiences so people get the contentthey need based on their function, role, andreading behavior, and AI powered search toautomatically summarize answers on the fly,so there’s no need to read reports.Forrester, 20181McKinsey, 20182Market Logic 2019 CONFIDENTIAL 8
Panel discussion: the insights disconnectRichard Thorogood, VP Insights, Colgate-PalmoliveFlynt Tuller, AVP Global Marketing Strategy & Science, MetlifeJoaquin Garcia-Lopez, Director, Global Market Research Excellence, J&JJason Childers, VP Sales, Americas, Market LogicElizabeth P. Morgan, CMO Market LogicElizabeth asked panelists whether there was an insights disconnect inside their firms, and ifso, what steps they were taking to tackle it. In light of the Colgate Palmolive case study, Richardfocused on the disconnect that’s caused when your insights platform is only focused ondeliveries to the insights organization. To resolve this, his team is transforming ownership ofthe platform to the business, so commercial teams can freely access the information they need,whenever they need it.Flynt Tuller from MetLife described the disconnect as an age-old challenge for insights teams.Insights professionals, he said, are typically great at collecting information, but not always asNYC Roundtable 2019Market Logic 2019 CONFIDENTIAL 9
The days of commissioning research and presenting theresults to business are over. All businesses desperately needpeople in the boardroom who deeply understand competitors,customers and markets, and can use this knowledge todevelop great strategy”.Open discussiongood at transforming it into strategy. At MetLife, Marketing Sciences and Marketing Strategyteams are joining forces to overcome this hurdle. Together, they actively “bake the insightsengine into networking and relationship building with the other teams.” Flynt’s team arealso delivering custom analysis pieces (desk research) as a value-add promotion for theirplatform, where demand is especially strong in innovation and the regions. He also noted thatthe content emphasis on competitive intelligence in their engine extends its appeal beyondmarketing into business lines and strategy.Joaquin Garcia-Lopez from Janssen said that his global strategy organization does not reallysuffer from an insights disconnect, because the insights professionals and marketers have aone-on-one relationship in the global strategy teams – if they don’t think research will be used,they won’t do it. He acknowledged that this ratio is unique and that the disconnect is more likelyto occur in the operating companies where the ratio between insights professionals and businessstakeholders is much lower.Another area for the disconnect arises fromskepticism about the value of research.Joaquin recalled the frequent objection: “ifFord had listened to market researchers, theywould have told him to make faster horses.”However, as he pointed out, market researchis not about asking people what they want,it’s about synthesizing insights from all kindsof research and sources to distill insightsabout how people behave and what theirbarriers and needs are – as the starting pointto propose new solutions. He also observedthat marketers are increasingly open toemerging techniques to understand consumerbehaviours and interact with thought leaders,such as IoT and social listening potentially atthe expense of traditional market research.Controversially, one participant asked: “towhat extent does Market Logic technology,and an insights platform, kill marketresearch?” Some argued that the role ofNYC Roundtable 2019the insights manager is empowered by theplatform, because it frees up time wastedchasing history to be a proactive championof the consumer.Others focused on the increasing roleof desk research and story telling –transforming evidence from multiplesources into messages marketers willremember. Another audience memberinterjected saying “Market research is dying,and insights professionals should welcomeit. The days of commissioning research andpresenting the results to business are over”,he declared. “All businesses desperatelyneed people in the boardroom who deeplyunderstand competitors, customers andmarkets, and can use this knowledge todevelop great strategy”.All food for thought and an even livelierdiscussion over a networking lunch.Market Logic 2019 CONFIDENTIAL 10
About Market LogicMarket Logic helps the world‘s best brands to run insights-driven businesses. We do this withinsights portals to share and promote knowledge, intelligence portals to analyze markets andcompetitors, and market insights platforms to generate insights from data and inject thesein business processes. Our software is used to drive customer centricity in CPG, healthcare,retail, finance & insurance, telecom, travel and media sectors, where our clients collaboratewith 600 research agencies online. We employ 300 software developers, data scientists andmarketing professionals at regional headquarters in Berlin, Chicago, Pune and gicsoftware.comEUROPENORTH AMERICAAPACINDIAFranklinstrasse 2810587, Berlin,Germany223 W. Jackson Blvd,Suite 900, Chicago,IL 60606, USAOdeon Towers #02-01331 North Bridge Road188720 SingaporeWing-B, Ground FloorBusiness @ Mantri Nagar Road,Pune 411014 Maharashtra, India2019 Market Logic AG. The information contained in these documents is confidential, privileged and only for theinformation of the intended recipient and may not be used, published or redistributed without the prior written consent ofMarket Logic Software AG, Franklinstraße 28, 10587 Berlin, VAT Nr. DE 249354497
he introduced the Colgate-Palmolive knowledge management team and their journey to transform from a research tool for the insights organization to a business platform that drives commercial decisions. Welcome from our host 10:15olgate-Palmolive case
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