ama keynote presentation september 2010
TRANSCRIPT
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MAKINGCHANGEHAPPEN10 PRINCIPLES FOR THRIVING IN THE RESEARCH WORLDStan Sthanunathan
Vice President – Marketing Strategy & InsightsThe Coca-Cola Company
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ACTING OR NOT…IS A CHOICE
CHANGE IS NOT AN OPTIONBUT…
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CASE FOR ACTION27 SEPTEMBER 2010
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WHAT IS COMMON ACROSS THESE BRANDS?
THEY ALL CREATED NEW CATEGORY BUT…27 SEPTEMBER 2010
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THE WORLD IS CHANGING RADIPLYGREATNESS CANNOT BE TAKEN FOR GRANTEDCHANGE OR PERISH IS THE NEW MANTRA
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BRAND CREATION CYCLES ARE GETTING MUCH SHORTER
Coca-ColaMicrosoftIBMGENokiaIntelDisneyFordMcDonaldsAT&T
2001 Coca-ColaIBMMicrosoft
GoogleGEMcDonaldsIntelNokiaDisneyHP
2010
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Source: Interbrand Best Global Brands 2010
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Online
WE HAVE MADE PROGRESS AS AN INDUSTRY BUT… More out of necessity
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HAVE WE CHANGED FAST ENOUGH TO BECOME CHANGE AGENTS IN BUSINESS?
NO27 SEPTEMBER 2010
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FIRST WE NEED A CHANGE OF MIND-SET
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It is not about following the change as quickly as possible
It is about helping companies to shape the change
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Providing Insights
Provoking Transformation
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Quantifyingthe Expected
Listening for the Unexpected*
* Joel Rubinson, ARF27 SEPTEMBER 2010
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Focus on technical challenges & better mousetraps!
Focus on ROI, better execution & value creation
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Leveraging “What We Know”
Seeking “What We Don’t Know” & “How to Know What We Don’t Know”
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SECOND WE NEED TO BECOME MORE INNOVATIVE IN OUR APPROACHES
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WE DON’T KNOW WHAT WE DON’T KNOW AND… WE DON’T KNOW HOW TO KNOW WHAT WE DON’T KNOW
FocusGroups
SurveyResearch
ObserveListen
SynthesizeDeduce
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THESE ARE NECESSARY BUT NOT SUFFICIENT CONDITIONS TO SURVIVE AND GROW
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BUT FOR US TO THRIVE… WE NEED TO EMBRACE SOME KEY PRINCIPLES
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Embrace Technology…Quickly
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OUR TRACK RECORD IS NOT GREAT
10 Years
75 Years
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HOW MANY OF YOU FEEL THAT YOU HAVE ACCESS TO BETTER TECHNOLOGY AT HOME THAN WORK?CONSUMERS ARE LIKE US… THEY HAVE MOVED ON TECHNOLOGICALLY… IT IS ABOUT TIME COMPANIES DO
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Embrace Risk
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Statistical Significance is widely misused and vastly overused: the result is not necessarily interesting, important, large, meaningful, causal or predictable in the future. It is NOT a badge of scientific rigor.
It just says the observation “probably happened” in that population. —Andrew
Ehrenberg27 SEPTEMBER 2010
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Don’t underestimate the Power of N=1“For innovation and inspired consumer insight an “n of one” is often all you need”
—Dr. Robert Kozinets
Author, Netnography27 SEPTEMBER 2010
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Dream
Internalize
Becomes True
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“Imagination is the beginning of creation. You imagine what you desire, you will what you imagine and at last you create what you will”
—George Bernard Shaw
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SET ASIDE SOME MONEY FOR EXPERIMENTATION,SHARE SUCCESSES AND FAILURESDO WE HAVE THEGUTS TO CREATE A HALL OF SHAME?
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Focus on BusinessOutcomes
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Job is not over when a report is delivered… in fact our work has just begun
Think RelationshipNOT Transaction
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Focus on Talent Acquisition
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McKinsey
Goldman Sachs
Bain
Booz
AT Kearney
TOP RECRUITERS IN BUSINESS SCHOOLS
WHAT CAN WE DO TO ATTRACT THE BEST AND THE BRIGHTEST?
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Shift Resources
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80%of budget is spent on “Rear View” Research*
* Nielsen/Brand Tracking/Validation type researches
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+80%of the time is spent in report cards, debates on data quality and explaining the past
* Nielsen/Brand Tracking/Validation type researches
* Nielsen/Brand Tracking/Validation type researches
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PROVIDE INSPIRATION ANDNOT EXPLANATIONFROM:80% ON “REAR VIEW” RESEARCH
TO: 50% ON “FORWARD LOOKING” INSIGHTS
$$$$$ $ $$$$$ $
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Leverage Creativity
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PRESENTATIONS:EXPERIENTIAL & IMMERSIVE EXPERIENCES
RULE FOR YOU TO CONSIDER:NO MORE THAN 7 DATA POINTS IN A SLIDE
Visual Data Densevs.
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Confident Thought Leaders
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BE PROACTIVE.OUTSOURCE PROCESS & IN-SOURCE THINKING
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Compensation based on Value and NOT Inputs
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Advertising Age27 April 2009
"We want our agencies to earn their profitability, but it's not guaranteed”
—Sarah ArmstrongCoca-Cola Director of Worldwide
Media
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VALUE BASED COMPENSATION
We are moving ahead with this approach.
Uncomfortable?
Required?
Will We Succeed?
YES
CERTAINLY
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Question Conventional Wisdom
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HOW ABOUT A CONFERENCE TITLED…
AMA3 DAYS TO CHANGE THE WORLD OF INSIGHTS?
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IF WE CAN’T DRIVE CHANGE..WHO CAN?
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“We are the ones we have been waiting for” —Hopi Chief
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THANKYOU27 SEPTEMBER 2010
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