It’s Monday morning. You walk into the office and before you’ve even had a sip of your coffee, you see an email from one of your marketers asking “what do we know about….?” In addition to all the other unanswered emails and piles of paperwork on your desk, you now have the time pressure of getting this question answered as soon as possible. Where do you begin?
Do you dare open SharePoint or whatever intranet portal you may have to open and read hundreds of pages and documents? Or waste time tracking down the person who was in charge of that specific project in the hope they’ll remember the details, and get back to you? Both options waste time and resources. Benchmarking studies by Market Logic clients show this entire process – thoroughly investigating answers to questions from past primary research, secondary sources, and colleagues – takes at least 10 hours – and who has time for that?
This daunting process used to be business as usual for our friends at Newell Brands before they introduced Market Logic. In a recent case study, Emily Williams, Director of Consumer Marketing Insights, recalled past experience over the years and the “massive step change improvement” after the company introduced Market Logic. Put simply, Emily says, “now we have it all at our finger tips. It’s all in one place which is time-saving and convenient, and you know you’re getting a comprehensive view.”
Emily shared this example to show how:
“We know as a business that gold in our pens is perceived as something that is quite premium by consumers, but that these perceptions differ around the world. And so, we wanted to get a view of everything we know today about consumers’ views of gold and premium-ness. So instead of spending hours hunting, reading and calling, we entered a couple of questions to search our platform and instantly pulled up findings from all our past research about gold, consumers, premium-ness, our pens, and fine writing. From that, we were able to very, very efficiently comb through those answers and gain some great insights about what we already know.”
As far as Emily’s concerned, tapping into great insights on the insights platform at Newell Brands is a great way to “keep consumers at the heart of everything we’re doing here.”
Are you still panning for gold in your past research? Let’s swap war stories.