On 3 and 4 March last, the Beurs of Berlage in Amsterdam was the place to be for market research professionals. The reason? Insight Innovation Exchange Europe – or IIeX for short: an inspiring market research event loaded with innovative ideas and case studies. But what’s worth remembering from this year’s edition?
Some time ago, Bart Vandenreijt from Carrefour and I wrote a paper together on optimising customer loyalty schemes. Since IIeX was looking for speakers, we decided to take our chances and submit our synopsis. Much to our delight, I was invited to present our award-winning study. Exciting, since it would be my first time at IIeX.
My expectations were high, of course, and I was more than ready to be inspired. Though my eagerness to learn was not completely satisfied, there were still some interesting insights to gather here and there. Here are four that were very reassuring to me:
1- Everyone is convinced of the need to make questionnaires smartphone-friendly and adapted to the situation and context.
2- Social media analytics have a lot of potential and should be used more often to understand consumers’ desires and needs.
3- Combining neuroscience and traditional marketing research techniques can lead to very accurate predictions.
4- Storytelling is the way forward when it comes to communicating market research insights.
While none of these are completely new, it’s great to see that market research is rapidly evolving in this direction. Let’s hope for a new wave of exciting ‘customer insight’ ideas next year!
In a nutshell, the study is about optimising the Carrefour loyalty scheme through an understanding of the most advantageous levels of generosity. We researched this through both a huge market test and the analysis of historical purchase behaviour.