The following are my notes from a presentation by Michael J Rosenberg (JP Morgan Chase). There has been very little editing, so there will be typos.
Has been to over 40 countries doing qualitative research, over 250 projects.
Normally with C suite, CFOs and treasurers.
Today’s reality – just in time research, flow results, actionability, Quantifiable ROI
Focused on – 80% growth and 20% performance — probably reversed from 10 years ago
Three dimensions of growth
- Clients – new clients or increasing share of wallet
- Geographies – expand into new countries?
- Products – new product development, enhance existing products
Qualitative research is optimally suited to answer the key questions to help drive key growth
- depth interviews (80% of what they do)
- user groups
- focus groups
- online communities
Looking on methodology is not enough
Top ten enablers (2014):
- Understand the business
- Ensure senior level business sponsorship
- Integrate the business into the research process
- Leverage “client friendly” methodologies
- Introduce new research methodologies and technology, but don’t push
- Leverage top talent
- Don’t ignore the numbers
- Deliver the results in the language of the business
- Engage in implementing the results
- Communicate regularly and with impact
Question: do these really enable business growth?
Important when speaking with clients to be able to understand & talk about the business on an educated level.
Business Intimacy is knowledge of:
- Business strategy& tactics
- Current capabilities
- Market dynamics
- Product/solution skills suite
- Regulatory environment
The three Ds
- Dialogue: more important to engage in a discussion than strictly asking questions Level 1) objectives, personna, cultural nuances, macro-economic environment 2) relationship history 2) micro-economic environment 3) personality
- Deliverables: Who? What? When? How?
- Delivery: 1) Business intimacy 2) Facts and results 3) Compelling messaging 4) Call to action