Unlocking the value of insights
Loreann Villanueva
Loreann Villanueva is the director for strategy and insights of McDonald’s Philippines. Previously, she was business unit head of GSK in the Philippines and global marketing manager of GSK based in Belgium.
A Mansmith Young Market Masters Awards winner in 2010, she shares here her thoughts on the importance of insights and will share more marketing tips during the 1st Mansmith Brand Summit on July 9 at RCBC Theater in Makati.
Q: Why is it important to have insights before formulating marketing strategies?
A: When we talk about insights, we need to recognize that they are more than just data and information. They reflect a deep understanding about the consumers or the patients (in the field of pharmaceutical business). Leveraging on insights allows us the ability to create powerful brands by taking in their perspectives and their view of the world as our thinking compass across the marketing mix and the value chain. It is the job of the marketer to have a good understanding of all the outputs of the researches they have obtained, whether primary or secondary, then translate them into clear insights and link these to the brand.
Q: Are there different types of insights? Can you share when to use what?
A: There are several ways to categorize insights and depending on the strategic management philosophy you are a fan of, I would say there are aplenty. But one of the very critical types of insight that I would advocate is the use of Bemis, or big enough market insights, which was a concept advocated by Jim Collins in his book “Good to Great.” To me, this is a highly relevant theme during this age of disruption. Rather than focusing on small or uncertain market opportunities, a Bemi espouses the discipline of accounting for the looming change in the market that uplifts your chance to seize a “big enough” opportunity and outperform your competitor. The pharmaceutical industry is a bit ahead in this game given their passion to predict the future by carefully evaluating the evolving lifestyle of consumers, understanding the interplay of the environment factors, public opinion and authority figures, then describing how the combination of these may lead to potential long-term health challenges requiring intervention.
In McDonald’s, for example, customer experience is at the center of everything we do so we ask ourselves all the time how we will need to evolve. Given that Filipino consumers will increasingly prefer to regain control of their time and energy as they navigate through their fast-paced lifestyle, how can we ensure that we are ready to cater to their demands for ultraconvenience in accessing our brand?
For retail products, there is a need to start thinking about what will be the role of your stores if a “cocooning behavior” (desire to just stay home and recharge instead of going out) start to appeal to more consumers.
Q: How do you determine a good insight? How do you differentiate this with a great one?
A: I would usually gauge the quality of an insight based on five criteria: relevance (Can it be relevant to your brand in the next 3-5 years?), resonance (Does it ring a bell or a “ting?” Think of how Mari Kondo describes whether an item should stay with you or not when doing the Konmari method of decluttering), reality (Is it for real and not just a figment of creativity nor imagination?), results (Will it drive a consumer response in your favor?) and distinctiveness (Does it have the potential to make your brand stand out, not just differentiated?) A great insight should have all these elements, which should serve as a springboard in defining your brand’s strategy. —CONTRIBUTED
