Simon Chadwick - Cambiar Consulting Archives - GRBN.ORG https://grbn.org/category/featured-guests/author-list-featured-guests/simon-chadwick/ Just another WordPress site Wed, 24 Jun 2020 20:35:04 +0000 en-US hourly 1 https://wordpress.org/?v=6.4.4 An American Breakdown in Trust https://grbn.org/an-american-breakdown-in-trust/ https://grbn.org/an-american-breakdown-in-trust/#respond Thu, 25 Jun 2020 10:11:19 +0000 https://grbn.org/?p=13090 The post An American Breakdown in Trust appeared first on GRBN.ORG.

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The GRBN global survey on trust in institutions is primarily focused on the public’s trust (or otherwise) in market research, data analytics and polling – both overall and in terms of appropriate data protection. But a bonus of a study such as this is that it can also reveal insights of considerable importance to society and the world. One of these in this case is the collapse of trust in the American government, most especially among African Americans and the young.

Americans no longer trust their government

While governments around the world are certainly not the most trusted institutions, ranking 9th out of 15 types of organizations measured globally, they nonetheless manage to eek out a net trust index (trust minus do not trust) of +13. Not in the United States. There, only 27% have trust in their government, while 39% actively distrust it. A net index of -12. That measure widens even further when respondents were asked if, as a result of Covid-19, they trusted their government more or less. While only 14% said that their trust in government had increased, a staggering 41% said that it had declined.

Trust is rock-bottom among African Americans and students

While low and declining trust in the American government is reflected across all demographic groups, it is at unimaginably low levels among African Americans and the student population – and getting seriously worse.

Given that the effects of the Covid-19 crisis have been more acutely felt among minority groups in the U.S. (as measured by infection rates, deaths and economic damage), it is perhaps not surprising that the government’s response has resulted in a decrease in trust among African Americans. The same erosion among students, however, suggests a massive crisis of confidence among the country’s generations of the future.

Americans (used to) trust their police – but African Americans do not

Generally speaking, Americans are slightly more likely to trust their police than is the case globally. While 53% of people across the countries surveyed show trust in law enforcement, that figure rises to 60% in the United States. The same phenomenon is seen in net trust scores – +37 worldwide and +44 in the U.S.

But that is definitively not the case for African Americans. Only 36% of this group actively trust the police and, even though their net trust score is still positive (+7), it still lags significantly behind their non-Black fellow citizens.

More poignantly, this survey was carried out before the eruption of protests and disturbances that followed the death of George Floyd. One can only imagine what the numbers would look like now.

Health authorities – a lone trusted voice

Among all the governmental authorities measured (government, police, secret service, health authorities), in only one is there agreement between the USA and the rest of the world: trust in health authorities.  Worldwide, this segment of public authority is trusted by a plurality, with a net trust score of +45 globally and +43 in the United States. What’s more, such trust has only increased since the onset of the coronavirus crisis (+15 worldwide and +14 in the U.S.).

So, what are we to make of this?

What this study suggests, perhaps to the surprise of only a few, is that America is in the midst of a profound crisis of trust. The United States government has lost the trust of its citizens, and law enforcement – at the time of the survey – was on the way to doing the same. Events since then would suggest that this crisis has only deepened. Most importantly, it is clear that this trust deficit is at its most acute in the African American community, which feels marginalized and cannot trust those who have sworn to “serve and protect”.

What is also striking is the loss of trust among students. Establishment politicians should be extremely worried by this, especially since this cohort has strongly endorsed ideas put forward by Bernie Sanders and Elizabeth Warren that, until now, have been scorned as ‘socialism’. But perhaps this portends a radical shift in American politics and society over the next decade that will surprise us all.

Simon Chadwick

Cambiar Consulting

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Review of the GRBN Building Business Impact Handbook https://grbn.org/review-of-the-grbn-building-business-impact-handbook/ https://grbn.org/review-of-the-grbn-building-business-impact-handbook/#respond Sun, 17 Nov 2019 03:16:52 +0000 https://grbn.org/?p=12532 The post Review of the GRBN Building Business Impact Handbook appeared first on GRBN.ORG.

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If there is just one book that an incoming corporate Head of Insights absolutely needs to read, it is the Building Business Impact Handbook. Come to think of it, any Head of Insights should read it. Because this is not just a handbook or a manual. It is a bible that shows exactly how to increase the business impact of an insights function on an organization – and, in doing so, increase its own resources and budget.

The book’s key premise is that actually measuring the business impact of consumer insights on the success of an organization is fundamentally linked to the strategic value that the insights function offers. It not only presents comprehensive quantitative and qualitative evidence to build the case for measuring business impact but also goes on to provide a detailed framework of exactly how to do so, complete with processes and templates.

The Building Business Impact Handbook makes it clear that measuring impact requires a new mindset and is a cultural decision. To that end, it is required reading not only for insights leaders but also all of their staff and associates. In order to make this an economic possibility, GRBN offers licenses that are very reasonably priced and that deliver both the Handbook and the templates to all in the insights function.

I thoroughly recommend all Heads of Insights to buy a license and to start on the journey to measurement and to building their business impact.

Simon Chadwick

Cambiar

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A Revolution is Building https://grbn.org/a-revolution-is-building/ https://grbn.org/a-revolution-is-building/#respond Mon, 04 Nov 2019 07:33:09 +0000 https://grbn.org/?p=12338 The post A Revolution is Building appeared first on GRBN.ORG.

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Since the initial ROI of Insights Handbook was first published, a quiet revolution has been building in the insights industry. Slowly at first, but with ever-increasing momentum, corporate Insights functions have started to embrace not only the thought that measuring the impact of their insights on the business as a whole is a good idea, but also that it can and should be done.

The ROI of Insights team, consisting of GRBN, Cambiar and supported by committed sponsors, including Gongos, inc. and RTi Research (Gold sponsors of this Handbook), has been assisting banks, pharmaceutical companies, insurance firms and many others all over the world in implementing systematic measurement and reporting systems that demonstrate to management the incredible return on investment that comes from market research and data analytics.

Insights can be seen as an Investment and not just a cost

For many Insights functions, the results have been dramatic. Not only have their budgets been increased but they have more resources, greater influence in decision-making, and are viewed with increased respect. No longer are research and analytics seen as line items under “costs” in the P&L, they are now viewed as bona fide investments in the future success of the enterprise.

 

 

For the team, this was no surprise. This was precisely what they had seen in their research (conducted with BCG) of companies already measuring ROI and impact. This was what the team held out to these new pioneers of measurement as the promised rewards of implementation.

Collaboration and Creativity on the increase

But there were also other consequences that were surprises – and pleasant ones at that.

The first of these was that measurement encouraged far more collaboration in organizations than before. Because so much emphasis is laid by the measurement system on predicting impact while designing projects – asking the question “What is the likely ROI of this project?” – it became easier for researchers and analysts to pose another question: “I wonder if we could increase ROI if we brought so and so into it?” As such, we see more collaboration between market research, strategy, competitive intelligence and various different forms of analytics throughout the organization. In some cases, this even resulted in some of these functions being brought together into a new super-Insights function.

In addition, we have seen more creativity in the way in which Insights professionals are addressing business issues. In some cases, greater control over their own budgets has allowed departments to experiment more and to think of new solutions to old issues. This also extends to greater scrutiny of what the organization already knows about certain issues before diving into research that may have been repetitive and/or redundant.

Finally, we have seen that if Insights functions invite their key suppliers into the measurement loop and encourage them to seek ways to improve impact, their relationships with those agencies deepens and improves dramatically. They become true partners.

Join the Revolution

If you are not already a member of the revolution, we strongly urge you to join us and to find out for yourselves just what an impact measuring your Business Impact has on your own department’s fortunes!

Simon Chadwick

Cambiar Consulting

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Welcome to MRX Master Chef 2020 https://grbn.org/welcome-to-mrx-master-chef-2020/ https://grbn.org/welcome-to-mrx-master-chef-2020/#respond Fri, 15 Mar 2019 06:41:05 +0000 https://grbn.org/?p=9876 This article was first published on the GreenBook Blog. A recipe for success in the real-life competition to grow key accounts Now is the time to act if you want to take the grand prize: 1-hour preparation time required We know that most of you are currently focused on closing Q1-19, with one eye on […]

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GreenBook Blog. A recipe for success in the real-life competition to grow key accounts Now is the time to act if you want to take the grand prize: 1-hour preparation time required We know that most of you are currently focused on closing Q1-19, with one eye on H1-19, and maybe half a thought for H2, but we are asking you to spend one hour of your time over the next few days to kick-start 2020. We can guarantee you a strong ROI on that hour spent. You all know how hard getting new clients is, so whilst you need to keep feeding that funnel, we are offering you a 1-hour recipe to growing your business with your key clients before your competition eat your lunch. So, are you ready to roll your sleeves and face the heat, or are you going to get out of the kitchen?
Step 1 – Digest the rest of this blogpost (10 minutes)
Over the past two years, we have interviewed, and worked together with, many client-side Insights leaders on the business impact of Insights. During the process, we have also gained a good understanding of the dynamics at play client-side when it comes to budgeting, which is one of the key factors determining whether your business will grow next year or not. As an agency leader, you may feel that this is something which is outside of your control, but we want to convince you otherwise. True, you do not have direct control, but you have a huge power to influence your destiny when it comes to whether your clients’ budgets for 2020 will indeed grow or shrink.
Segmenting end clients
We’re sure you already have a number of ways of segmenting your customer base. We recommend, however, that if you don’t do so already, you think about your clients in terms of the maturity-scale segmentation created by BCG, Cambiar and Yale. It gives an excellent summary of the end-client landscape and is an excellent framework, which you can use for segmenting your own client-base specifically from a budget perspective. THE 4 STAGES OF MATURITY OF THE INSIGHTS FUNCTION
Why this segmentation is important to you
If we combine stages 1 and 2 together, and stages 3 and 4 together, and then analyze the key differences between these two groups, here is what we find: The data are compelling: As are the stories behind the data:  
  What type of clients do you have?
For the purpose of becoming a MRX Master Chef, grab a pencil and spend a couple of minutes putting your key accounts into three buckets; Now that you have an idea of where your clients sit on the maturity scale, you can implement a two-pronged strategy to deal with each type of client:
Strategy – Part 1: Moving your clients up the maturity scale
We hope you can see that you have a huge vested interest getting your clients from stages 1 and 2 to stages 3 and 4. Our research tells us that Building Business Impact is key to Insights functions moving up the maturity scale, but that few Insights functions are currently doing a proper job at both measuring and demonstrating the return on investment they deliver, which is central to building business impact. So, why don’t most Insights leaders measure their ROI? The key reason is that it is not a straight-forward thing to do, and most Insights leaders therefore don’t know how to go about it and how to get started. Fortunately, GRBN has created a framework, which Insights leaders can use to measure and demonstrate their ROI, and has developed, together with Cambiar, tools to assist Insights leaders with implementation in their teams. By giving your clients the opportunity to learn how to use the framework, as well as to learn from peers who are measuring their business impact, you will give them the keys to building a robust argument for growing (or at least defending) their 2020 budget. You need to make sure that your teams do everything in their power to help these clients build that impact on a business decision level. Do your teams have the skills and tools needed to do that?
 Strategy – Part 2: Forming a ROI partnership with your stage 3 and 4 clients
If you’re luckily enough to have clients in stages 3 or 4, you will be happy to know that their budgets are likely to grow (or at least be stable) next year and that they are likely to invest in innovation and experimentation. However, the chances are that you don’t have a monopoly with these clients, and your competitors are no doubt also looking to work more and more with these growth clients. So how do you grow your share of wallet? From our discussions with Insights leaders in stage 3 and 4 functions, our conclusion is that an ROI partnership is an effective way to do this. These Insights leaders are looking to build their relationships with agencies they see as trusted advisors, and by extension concentrate more and more of their budgets on agency partners who can support them on their mission to increase the business impact of Insights.
So, what is an ROI partnership?
At its core, it is a periodic review of the work you are doing for the client from a business impact perspective. The aim of the review is, together with each client, to answer 5 key questions:
  1. How much ROI did we help you deliver to the business during the period?
  2. What could we have done differently to help you deliver even more impact on the business?
  3. What should we do more of?
  4. What new services can we provide that will increase the amount of impact you have on the business?
  5. What should we do less of / stop doing? (i.e. activities, which are delivering a low ROI)
Done correctly, the ROI partnership will enable you to both help your client grow their total budget and grow your share of that budget. As a bonus, it will enable you to more effectively sell in the new innovative tools and solutions your company is developing. In addition to the periodic review, the ROI partnership needs to have a strong project-by-project business impact focus, both at the planning stage, as well as the delivery stage. An added advantage of an ROI partnership is that it reduces the focus on costs, especially if procurement is involved, since this gives a concrete tool to focus on the real value of Insights, i.e. the value to the business, and how the effectiveness of the budget can be maximized, rather than a focus on how budget efficiency can be maximized. Whilst putting in place an ROI partnership is not rocket science, you do need people who have the skillset, and the tools, to proactively create and manage the ROI partnerships with these key accounts. Do you have such people on your staff? Do you have such tools at their disposal?
Giving your clients the gift of business impact
So, we hope that we have demonstrated that you have it in your power to give your clients the gift of business impact. You can help them put in place a system for measuring, demonstrating and ultimately building impact. For example, you can host a workshop for your key clients to help them get started, or you can take it one step further and offer your clients a joint training program, where both they and the team that works with them go on a journey together to build the ROI partnership.
Step 2 – Plan out your key account growth strategy (50 minutes)
As a next step, we suggest you pull your key account management team together for a meeting. Firstly , get confirmation of which clients belong to which bucket, and then plan out your own strategy for either moving clients up the maturity scale and/or for forming ROI partnerships. So, there you have it. One hour invested and you’re well on your way to growing your 2020 budget, which makes you one of an elite group of MRX Master Chefs. What are you waiting for? Let’s get cooking! SIMON CHADWICK Managing Partner, Cambiar Co-author of the BCG, Yale CCI and Cambiar 2015 Consumer Insights Benchmarking Report. Leader of the Cambiar Business Impact coaching program   Andrew_Cannon ANDREW CANNON Executive Director, GRBN Creator of the Invest in Insights framework, author of the Invest in Insights Handbook and co-author of the ROI of Insights report

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You Don’t Just Measure Business Impact, You Build It https://grbn.org/dont-just-measure-business-impact-build/ https://grbn.org/dont-just-measure-business-impact-build/#respond Mon, 15 Jan 2018 00:31:18 +0000 http://grbnnews.com/?p=8674 When Boston Consulting Group (BCG) first studied the management of consumer insights in major corporations in 2009, they developed a four-stage taxonomy to describe the developmental stage of an insights department. Stage 1 represented departments that were either “traditional” or “emerging” – i.e were more in the mode of order-taking and tactical research rather than leading the business with strategic thinking; Stage […]

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“traditional” or “emerging” – i.e were more in the mode of order-taking and tactical research rather than leading the business with strategic thinking; Stage 2 departments were described as “business contributors”, striving to use research as a means of informing the business without necessarily leading it; Stage 3 represented “Strategic Partners”, departments that led the business through their application of research to key strategic business issues; And Stage 4 departments were those that demonstrably provided strategic competitive advantage. In 2009, only 10% of all consumer insights functions (aka market research departments) met the conditions to be labeled Stages 3 or 4. Fast forward to 2015 and the good news was that the proportion of CI functions hitting a designation of Stage 3 or 4 had doubled in the intervening six years. The bad news was that this still represented only 20% of all CI functions. There are many factors involved in transitioning from Stage 2 to Stage 3, but one of them is incontrovertible: all Stage 3 and 4 companies measure the return on investment from their research budgets. The reasoning is simple – you can’t make the case for a substantial research budget unless you can prove that it actually adds to growth and/or profitability. Which is why understanding the ROI on research is one of the top priorities of CEOs today. However, measuring the ROI on research is not just a process. As you will see repeatedly throughout this Handbook, it is a mentality. You don’t just measure it, you build it. Some people struggle with this, failing to see how “ROI” could be a mentality. So, let’s drop for a moment the acronym “ROI” and call it “Business Impact”. Think about each research project in terms of what its impact on the business will be. What is the business issue at hand? What sort of impact do we believe we can have on that issue? What are the parameters and metrics by which we will measure this? How do we build these into the project? And then how do we assess the overall impact of the project over time? All of this involves deep and ongoing communication and involvement from project stakeholders throughout the process. But even if your stakeholders are involved and you devise the best measurement process that there is, it is nothing if you do not market your worth – your business impact – throughout the entire organization. The company as a whole needs to know just how much value you add – and some very important people in particular, such as your CFO and CEO! Internal marketing is key to growing your budget and resources so that you can increase your value to the business every year. Simon Chadwick Cambiar  

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Why measuring Return on Research Investment is good for your health https://grbn.org/cambiar_roi/ https://grbn.org/cambiar_roi/#respond Tue, 13 Sep 2016 03:53:59 +0000 http://grbn.org/?p=1025 By Simon Chadwick, Cambiar Whenever the subject has been raised in the last few years of measuring the return on anything related to marketing, advertising or research, hackles would very often be raised and loud proclamations be made of why such a thing is not only impossible but possibly downright undesirable. Measuring the return on […]

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By Simon Chadwick, Cambiar Whenever the subject has been raised in the last few years of measuring the return on anything related to marketing, advertising or research, hackles would very often be raised and loud proclamations be made of why such a thing is not only impossible but possibly downright undesirable. Measuring the return on research, the mantra went, involved too many other variables that got in the way of linking research output and in-market performance. Distribution, competitive activity, recommendations not followed, changes in market dynamics. The list goes on. And, anyway, it’s not about the research itself but about what other people do with it. In sum, it’s not a good idea and it can’t be done. Well, it now emerges that not only can it be done, but measuring RoRI is actually highly beneficial to the research department, its place in the organization and the way research is viewed and used. A recent study of the management of consumer insights in major corporations – conducted by Boston Consulting Group, Cambiar and Yale – found strong evidence that measuring research RoI is good for you.1 Actual measurement of RoI is not only strongly correlated with a perception of higher return but also much greater and more intense satisfaction among users (senior and line management) with the return that they are getting from their investment in research. The fact that this is so should not really be a surprise to us. If you hide your light under a bushel, how are people to know what it is that you have achieved for the organization? If, on the other hand, you not only measure return but then market that information across the business, people are much more likely to have a favorable opinion of what you do. Seems pretty obvious, really. And yet only 30% of organizations that we studied actually do measure RoI on research – why? measureroi Most of the reason, we suspect, lies with the old mantra that it can’t be done. But if nearly a third of organizations actually are doing it, it obviously can be done! How? Here are some thoughts – the list is by no means exhaustive and feel free to add to it: 1. Quantitative in-market performance (awareness, familiarity, sales) – even if some things changed between the research and in-market impact, there is no reason not to claim at least some credit for positive results; 2. Cost reductions and process improvements – if the research pointed to ways in which efficiency could be improved, talk about it; 3. Speed in decision-making – talk about the way in which research has become more nimble and business-focused; 4. Point to key insights that improved understanding at a senior level and the consequences of that improvement; 5. Qualitative and anecdotal evidence for improved business performance. As a combined example of some of these, let me offer this anecdote: a consumer technology company’s brand tracker was showing all indicators going in the right direction – but sales were declining. At the initiative of the MR department, ethnographers went into retail stores and quickly discovered the truth: the competition was bribing stores to cover up the client’s goods and POS materials. Result: an increase of 20% in sales. Now, what are your stories? 1 The study was conducted in late 2015 among over 600 users and practitioners of research in over 90 major corporations. simon-chadwick Simon Chadwick is the Managing Partner of Cambiar. Before founding Cambiar in 2004, Simon was Global CEO of NOP World. Simon was 2004 Chair of CASRO (the Council of American Survey Research Organizations) and currently sits on the CASRO Board; he has also been a member of the Board of Trustees of the Marketing Science Institute. He and his colleagues at Cambiar publish the Future of Research (FoR) annual study of trends in the industry as well as the Cambiar Capital Funding Index. In addition, Simon is Editor-in-Chief of Research World, ESOMAR’s global magazine, and serves on the Board of Directors of a number of research-related companies. Simon is a Fellow of the Market Research Society. He holds an MA in Philosophy, Politics and Economics from Oxford University, England and has done post-graduate studies at both Columbia and Harvard business schools in Change Management and Strategic Management. cambiar300dpi-2  

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