by Harnessing Market Research Trends and Predictive Analytics for Future-Ready Insights
Interview with MRMW EU Speaker- Yasmin Dufournet, Consumer Insights Director, Salomon
MRMW: We are happy to have you with us, Yasmin! Without giving too much away – what is the core message of your talk and what would you like delegates to remember?
Yasmin: Delighted to be here and thank you for the invitation. I head up the Consumer & Market Insights department at Salomon where we have a team of experts monitoring consumer and market behaviour daily. They will pour over Point of Sales data, quarterly and annual reports, socials, consumer diaries, brand equity data points and so on. This tells us a lot about the ‘what’. It is what a lot of CMI departments do – and in many cases that is enough to understand current Usage and Attitude, motivations and the state of the market.
However, and this is one message I would like to draw attention to, sitting behind this data is a set of primary macro trends which are currently driving and/or influencing our consumers’ perceptions and behaviour. These evolving major societal events/forces are creating movements and exerting influence on us all. Constantly. They stimulate reaction and desire. And, if we do not recognise and explore these, then we cannot fully understand why our consumers react the way they do, and much less predict future behaviour.
In other words, we need to look at this context to understand the ‘why’ or the ‘how.’ Otherwise, there is a risk of being academic vs actionable – reporting the now, or worse the past, rather than predicting the tomorrow. This is what our team does as it plays back the data. It is reported through a trend lens and it is one of the best ways to keep our brand continually connected, enlightened, inspired and in motion.
MRMW: How has this impacted your own work and your organisation?
Yasmin: Immensely. At CMI it’s not enough to simply report back on these trends. Our company strives to shape the future of sport through innovation and sustainability and CMI plays an integral part in that vision. We ensure that our insights and reports are consistently built with this in mind and presented to all employees regardless of their roles. Internal Stakeholder Engagement. That way we can create a more dynamic and responsive innovation ecosystem across products, as well as services, processes, or business models, ultimately leading to a more successful, impactful business driven by the same philosophy and practice.
MRMW: Our conference focuses on new tools, methods and technologies. What do you hope to crowdsource more info on in your conversations?
Yasmin: Market research tools are not just tools; they’re a roadmap in the ever-evolving landscape of global trends and business. They ensure you’re not just keeping up but leading the way, with strategies that are informed, agile, predictive and ahead of the curve. I am very interested to see how other brands are selecting and working with these tools (particularly predictive) and using innovative methodologies.
Secondly, it is increasingly clear that the future is real-time data analysis. Getting the return on market trends, customer feedback, and campaign performance as it happens. I would love to engage in discussions on how other brands stay agile, making those pivots, and keeping strategy fresh and relevant.
MRMW: How do you envision the future of market research and insights, and who is driving industry growth?
Yasmin: All researchers have seen their roles increasingly merge with other disciplines: data, CRM, and brand strategy are the obvious examples. And now we are migrating towards the IT departments!
We are clearly on the brink of some exciting changes!
Of course, there is AI. From chatbots to Machine Learning, we are (and will be able) to easily gather and analyse data from our consumers. Processes are becoming more streamlined. At Salomon, we have already started automating transcripts, translations and theming narratives assisted by AI. It is becoming more accurate, it is more cost-effective and gets the learning back to the organisation at lightning speed so that decisions can be made quickly and in a more informed way. This is just the beginning.
Soon through big data analytics, we will be able to aggregate all our data. One of the major problems in business is the pockets of data across disparate parts of the company. As big data analytics evolve, these pockets will be aggregated and we will be able to access comprehensive data sets as a whole
And finally, in testing, we will be able to use tech advancements to physically engage with consumers, through Virtual Reality and Augmented Reality, biometrics and even gamification.
However, as we prepare ourselves for these changes, there will be issues that absolutely need to be addressed in advance. Transparency and privacy rights are the obvious ones. But equally, diversity and inclusion – Ensuring the automated research samples represent diverse demographics to avoid bias and gain insights from underrepresented groups, – even today running with more traditional methodologies, this is a challenge.
I think we also need to be conscious of our place in this revolution. Yes, we may be moving into a golden age of research. As these new technologies become available, they will completely change how research is gathered and played back. We will see speed and scalability. However, I will be very interested in discussing whether in time this tech will be able to replace human intuition, or whether we should be looking at it mainly as a tool for the heavy lifting, allowing us, the researchers, to provide the nuance, emotional intelligence, and strategic thinking so unique to our role; the understanding sentiment and tone, the insights communicated through body language, and in-person interactions.
MRMW: The market research and insights community is a passionate one and generates a lot of dynamic and engaging reflections and resources for itself, especially off the clock. Any favourite peer podcasts, zines, newsletters, blogs, vlogs or initiatives you´d like to recommend?
Yasmin: That’s hard! I listen to a variety of podcasts – constantly. They range from personal interests (politics, travel and science) to those recommended by our own consumers which fortunately coincide with my own interests! Regular listens will be The Economist, The Atlantic and The New Yorker.
MRMW: Outside of work, what should delegates talk to you about?
Yasmin: Anything! All researchers are highly communicative, creative and adaptable. It’s our job! It certainly facilitates communication. Come to me on sport, travel, history, politics, music, literature…it will be a pleasure to meet and chat!
MRMW: Thank you so much, Yasmin! We look forward to hearing more from you at MRMW EU 2024!
Every year MRMW brings together forward-thinking clients, innovative agencies and technology disruptors to discuss the latest trends and innovations driving the industry forward. Now more than ever, creative thinking and out-of-the-box solutions are needed. MRMW provides the answers, connections and know-how to help you excel!
Hear more from Yasmin, as well as international experts representing Burger King, Nestle, Philips, Givaudan, Warner Bros Discovery, Swarovski, Ikea, Reckitt and many more at MRMW Europe 2024. Book your ticket at https://eu.mrmw.net/.
