23 Mar The Future of Insights: World Marketers Seek Insights Transformation
The Future of Insights: World Marketers Seek Insights Transformation
The latest research carried out by the World Federation of Advertisers brought to light some startling facts about the impending need for an overall change in the liaison pertaining to the marketers and their in-house insights team. The research included more than 300 senior marketers and insight leaders from around 95 world’s top brands having total marketing spend of $75 billion annually.
The study brought to light the existence of a mammoth prospect that is available to the imminent marketers and their in-house insight leaders who are ready to adopt the change to become the brand leaders. The research revealed the stats on how many marketers and insight leaders are not getting the best out of each other in the research report. Only 33% marketers reported they were happy with the insights function.
The survey carried out brought to light in equal fairness, the feelings of those insight leaders who felt optimistic, encouraging and constructive about their function, responsibility and position along with the reaction and outlook of those frustrated insight leaders who felt isolated and a waste of their hard core efforts due to lack of resources, conventional approach, difficulty in implementation along with lack of apparent fervor, enthusiasm and excitement including poor business understanding within the in house squad.
In-house Insights Team – Trusted Consultants and Mentors
The above scenario cannot be said to be the same for all marketing companies. Nearly half of the leading marketers with vision and insight were of the opinion that their in-house squad was not only efficient and performing but even could be called as trusted consultants and mentors who always suggest newer ideas and act as urging counselors.
In majority of the above companies with positive sentiments, the insights squad and marketing team were found to be working in close range. In all these companies a common thread of hope, aim and desire was found to be imminent on the ground of business oriented viewpoint, challenges and in the formulation of a tactical plan to achieve the same.
Need of closer tie between marketing team and insights team
For those marketing companies wishing to opt for the impending novel paradigm, a closer tie between the in-house squad and marketing teams is very crucial along with an open minded approach, broader vision pertaining to adoption of newer methods and also in possessing an experimental attitude involving those things that show huge potentiality even if its market significance is yet to be realized.
Agreement in disagreement
Both the optimistic and the not so optimistic marketers agreed on certain grounds such as the use of new methods of scientific study of human and animal behavior, the recognition of the methods and data obtained pertaining to the commercial behavior using Internet, Smartphone, Tablet, and PC. They unanimously agreed that scientific study pertaining to all above mentioned methods and data needs to be further strengthened with more emphasis on verification through biometric methods, scrutiny by media and examination of raw data.
The perfect solution
The core objective of both marketers and insight leaders is to turn insights into internal consultancy that can guide marketers to take strategic business decisions. This can only be achieved when both the teams work closely with each other open-mindedly and willingness to test and experiment new methods of insights exploration about communication, branding, and consumer decision making. A perfect solution is through an agenda of trial and error by maintaining or undertaking speedy methods that identify opportunities for insights transformation thus making insight leaders more effective for driving brand growth.