How can market research and insights drive business strategies and improve technology in a dynamic environment? We are excited to have Einat Ben Horin, Head of Marketing Best (Rest) of World & Head of Global Insights and Strategy at SodaStream joining us for MRMW EU 2023 to discuss this. In our series of speaker interviews, we asked Einat about her presentation topic, motivations for joining MRMW EU 2023.
MRMW EU: What is the most important thing you want people to take away from your talk at MRMW EU?
Einat: Recently, the volatile business environment has significantly influenced the field of market research. Often, insights teams serve as internal service providers to marketing and business functions. However, I propose insights should act as BUSINESS LEADERS, especially in uncertain times. Rather than just responding to requests, insights teams should proactively define critical business questions, address gaps, and guide insight implementation. As the ones most familiar with data and understanding consumers, we should take responsibility for turning these insights into actionable strategies to propel the business forward.
MRMW EU: How has this impacted your work and your organisation?
Einat: Over the past three years, amidst challenges like Covid, war, and inflation, our strategy, and insights team at SodaStream has transformed our business into consumer-centric and insights-driven. We’ve incorporated new market research tools and practices, constantly improving data visibility for data-based decisions, tackling business challenges with solutions-oriented projects, and embedding insights into every phase of planning and execution. This ongoing journey strengthens our relevance and performance while fostering a culture of insightful, data-driven decision-making.
MRMW EU: MRMW EU focuses on new tools, methods, and technologies. What are two things you hope to crowdsource more info on in your conversations?
Einat: As part of our proactive approach to insights as business leaders, we look for solutions to business challenges beyond traditional understandings. One excellent example of this was a project where we used a behavioural science framework to address the issue of attrition. Although we understood the attitudinal reasons for consumers lapsing from SodaStream’s ecosystem, we wanted to influence the behaviours that could keep them engaged, prevent lapses, and ultimately reduce attrition. This required a different kind of effort led by a cross-functional team.
Another great example of our proactive insights approach is the “Insight Dashboard”. We use a framework for implementing market research for each market that includes strategic objectives, insights, recommendations, planned actions, KPIs, and status. This ensures that insights are not merely shared and then forgotten, as can sometimes occur. Instead, we ensure that insights are followed through, translated into plans, and transformed into operational actions.
MRMW EU: With ever-evolving tech stacks, which has been a real game-changer for you? Whether it’s the use of your time, changing the way you work, or helping you deliver better results.
Einat: One of the main challenges for insights teams today is disseminating knowledge and making learning accessible and timely for all members of an organization. This becomes particularly crucial in a volatile business environment where a real-time understanding of what’s working (or not) is vital. Recently, we’ve been focusing on how we can help stakeholders better understand business indications in real-time.
We’ve identified the need for two primary shifts: the ongoing tracking of brand equity, which we are currently piloting, and the development of a platform that can consolidate and visualize all relevant information in a simple way. We’re working to integrate media and activation plans with continuous tracking of various performance metrics, including brand equity, sales, Google trends, market share, and direct-to-consumer interactions. With this market research approach, it enables everyone to monitor performance results as close to real-time as possible, making our management of the business more agile and facilitating resource allocation when necessary.
Einat: Market research and work for customers have always taken a lot of time. In recent years, companies have had to be more flexible and respond faster than ever. This has made time a big obstacle to adding more customer feedback into planning and running a business. Using automated tools and processes has made a lot of our analysis work go faster and fit better with business schedules. Copy testing is one place where this has made a big difference for us at SodaStream.
Since automated copy testing is getting cheaper and takes less time, we can use this useful tool more often during the copy creation process. We hope to create more tools next year, which will make them more useful. Data visualisation is a related field that makes ideas easier to find and, therefore, more useful. In the coming year, we want to put more time and energy into making data easier to see and understand.
MRMW EU: What motivated you to join the MRMW market research conference, and what expectations do you have?
Einat: MRMW EU is one of the top market research industry events. For me, it’s a great opportunity to learn about the similar and different challenges that other insights leaders face, hear about new tools, methods, and opportunities, and get to know people from both the client and agency sides. It also gives me a chance to establish connections to whom I can reach out for professional advice in the future.
MRMW EU:Thank you Einat, we look forward to having you with us at MRMW EU 2023!
Do you want to meet Einat from SodaStream in person?
Mark your calendars for MRMW 2023, taking place October 9&10 in Berlin, Germany! It’s an unforgettable event with a unique blend of personal development, networking, and commercial opportunities. Every year, forward thinkers, innovators, and industry disruptors gather to discuss the newest market research trends and groundbreaking solutions. MRMW is your platform for insights, connections, and information to succeed at a time when innovation and innovative thinking are required.