Executive Training by MKTinsite » Market Insights

Presenting Market Insights – Influencing Executive Decisions (Video)

WebAdmin-RR — Mon, 07 Feb 2011 12:30:01 +0000

In this video, Mala Subramaniam, President of MKTinsite, talks about Presenting Market Insights in order to Influence Executive Decisions.

7 Critical Steps in Market Intelligence

Mala Subramaniam — Tue, 02 Feb 2010 23:12:59 +0000

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Let’s define Market intelligence first – it is the “aha” moment in the market research process, when you identify the patterns after you have scanned the results from primary research, secondary research, and competitive intelligence. The patterns lead you to some conclusions. Most often in companies, this is a fragmented effort. The primary researcher presents results and recommendations, the secondary researcher sends his report and CI comes in contradicting all of the above. The decision-maker gives up and goes by his guts. Naming the department as Market Intelligence or Insights and combining all three units under one head, or placing an analytical integrating group will solve this problem. Or else, you end up calling someone like me to make sense of it all!

There’s a sequence of logical thought that needs to happen in the intelligence process – I call it the 7-Step MI process. This process, taught in the Market Insights training, will also require you to explore existing research and different avenues for securing the research to get to the desired results.

5 Tips for Answering Questions

Mala Subramaniam — Wed, 27 Jan 2010 19:30:35 +0000

Don’t think of answering questions during a presentation or meeting as a stressful time. Instead, be prepared to let your subject matter expertise and personality shine.

Try to remember these 5 tips the next time you find yourself in a Q&A setting:

Pause and take a breath
Answer the person and not just the question
Respond – do not react
Don’t start the answer with – “that’s a good question…”
Bring the focus onto your key message

Hope this is helpful. Please share your tips with us, too!

Market Research Insights – Telling Your Story

Mala Subramaniam — Wed, 27 Jan 2010 16:30:40 +0000

Most market research goes unused because market research professionals are too busy doing the projects, analyzing, sometimes with advanced stats, and putting together a 75-page power point deck to present results. Market researchers need to learn how to tell their story. The audience is impressed, but overwhelmed, wondering, “So What? and What can I do about it?”

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Sometimes, in a market research presentation, the audience feels like a patient in a doctor’s office. The doctor looks grim while reading out a bunch of medical reports and telling his patient, “Your BP is high, your cholesterol is well above normal, sugar is borderline, you failed the hi-tech stress test. your weight and eating habits leave much to be desired.” The patient is in panic wondering, “What does this mean? Am I dying?” How refreshing it would be, if the doctor started out as follows:

You are lucky, you now have an opportunity to get back to good health, and prevent heart problems. Here are test results that have raised some red flags
Do you have any ideas of how you can restore your good health? Shall we brainstorm some ideas?
Here’s some thoughts: a healthy diet including low salt and low sugar foods, exercise routine and some relaxation techniques.
Would you be interested in nutritional guidance? Hospital X offers some free programs – would you be interested?

The patient walks out with a key takeaway message and knows what to do about it. Similarly, if market research presenters translated data into intelligence, and brainstormed with clients/audience to arrive at the insights, then the recommendations will be a natural outcome. If audience is not involved from the very start of the study and if the researcher does not take an interest in the business, then the recommendations are done in a vacuum and of limited value to client. There are some very interesting techniques like, Decision Pyramid, Patterning, that facilitates the process.

Research without insights is like medical readings without a diagnosis and a collaborative treatment plan. Learning to tell their story is the most critical skill for any market researcher – this is what will influence decisions.

5 Tips to Being Consultative

Mala Subramaniam — Tue, 27 Jan 2009 19:30:50 +0000

Being consultative is crucial to adding value to your business relationships. It has become an imperative in IT consulting business, where outsourcing professionals tend to focus on the deliverable and logistics surrounding it, rather than understanding client goals and needs, and mapping their deliverable to the needs. Most of the misunderstandings and conflicts are caused by people working in a vacuum. Most professionals in IT, Market Research and similar technical areas perceive their jobs as providing data, intelligence or service, and not as providing solutions for business problems or needs. Hence, the need for companies to retain consultants, who wear the hat of problem-solvers, diminishing the role of the technical people.

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There is a clear process to being consultative. Practiced diligently, it becomes second nature to us. I speak from experience – as a market research professional who advanced rapidly to the role of a Business Strategist. Here are 5 simple tips that start you on the road to being consultative.
Know…

Your client industry
Your client goals
Your work in the context of client goals, problems and needs
Your past success with the client
Your value-add

Please feel free to send your comments.