October 04 2010

Close engagement between line management and the insights function is key to success

In a 2009 global benchmarking study on customer insights, BCG found that most companies are yet to unlock the value of consumer insights. The qualitative survey of 200 executives from 40 global corporations found that only 35% of executives describe their consumer-insights capabilities as best in class. In 90% of cases the research function operates as an order taking unit that is not integrated in the strategic and corporate agenda.

Frustrating relationships between line managers and researchers were widespread. For example, over 70% of market researchers said they consistently answer the question “so what” about the data they provide, but only 34% of line managers agree with them. Disturbingly, less than half of the researchers polled said they believed their business leaders would pass a "pop quiz" on important facts about consumers.

Close engagement between line management and insights function is one of the key factors to overcome this hurdle.   For more information, read "The Consumer's Voice – Can Your Company Hear it?" at http://www.bcg.com/documents/file35167.pdf.

Categories Insights

Submit a comment

 
* required fields