MRMW NA 2019 Conference Series – Carol Shea - Olivetree Insights

Welcome to the MRMW NA 2019 Conference Series. Recorded live in Cincinnati, this series is bringing interviews straight to you from exhibitors and speakers at this year’s event. In this interview, host Jamin Brazil interviews Carol Shea, president of Olivetree Insights. Contact Carol Online: LinkedIn [email protected] Olivetree Insights [00:00] Was able to intercept Carol Shea from Olivetree Insights on the floor right after her presentation at MRMW.  It’s a really interesting conversation. I hope you listen to the entire thing through the end. We talk about possible KPI’s for market research; additionally, the framework for managing the next generation of researchers; as well as dealing with really big business problems and helping your customers navigate through those things while leveraging research in an effective way.  Hope you enjoy it. [00:34]   My guest today is Carol Shea with Olivetree Insights.  You presented yesterday at MRMW. What did you talk about?   [00:41]   You know my passion is market research, the industry, and the people in the industry.  I’ve been in it for so many years. And so, now I’m at a point in my career where... I guess all through my career I’ve always loved the big hairy challenges things like:  “How do you get out of a category?” or "Should you get out of a category?” or “What’s the next big thing?” So, I started really dialoging with corporate people and recognized that they were have challenges internally in their organization.  The same research person that I may work for one-year reports to the CMO, the next year reports to the Director of Strategy. Their roles are shifting. How they integrate in the organization is changing. So the speech yesterday was really focused on providing some of the ideas that I’ve heard from corporate researchers on how can they pivot their own role from being a support system for the business to being a growth engine for the business.  Like today, this morning, I overheard a number of topics around activate research and how we’re supposed to be embedded in the business. But there’s this real disconnect. So that’s what my passion is right now: a different kind of a big hairy problem. [02:00]   I mean it’s a big problem.  I think that proving an ROI on research and like you said zero-based budgeting...  You said they said yesterday that really came up a lot. I mean you really got to be cognizant of what is the actual outcome or return on a monetary basis to the organization. [02:16]   That word scares people.  I don’t know... Have you talked to people much about ROI? [02:20] A little, not a lot. [02:21]   Not a lot. I’m hoping to switch that to KPI.  Let me give you an example, OK, because I know I’ve worked with some clients that have done a brilliant job with ROI, but I also know that there’s a lot of situations where it’s just a frustrating conversation.  But one of the more interesting KPI’s I saw about connecting to the business is how many times in a business plan is the voice of the customer included. So, that to me is a really powerful KPI or something that shows how the business is utilizing the research that we’re providing.  So I think there’s probably some easier steps that we’re not really think...