Hello, welcome and Salam,Thanks for taking time out and stopping by at my blog. Today’s post is about the insight we as marketers are overlooking when we target Muslims. I have posted earlier on the same topic; you can find that post here
I will try to summarize below my conclusion about what insights are missing when we target Muslims.
Have a look at the presentation and slides, hope you will find them interesting.
Enjoy the remaining days of 2012, see you in 2013
Another morning that made me thinks in which direction is my career heading? Am I going to be the new hype – the Nate Silver of Middle East? Or am I going to drown in the data piles around me? Marketing research sector at large, haven’t introduced a game-changing idea for quite some time now and as the information age is coming of age the need of conventional researchers is reducing. So what should we do….? Lead or follow? change careers?
And guess what! Miss Monneypenny from ‘Sky fall’ was able to answer my question – She says “An old Dog should learn new tricks”
Jokes apart, I recently attended a training course on Business Planning, and I have learnt one key thing. All markets mature and all products age, you must stay ahead of maturity and keep on innovating. Innovate anything like process, customer expectation, resource utilization, market differentiation. But you must innovate if you want to survive.
What should Marketing Research Sector at large innovate?
In my opinion, we should innovate our human capital. Instead of producing a whole squad of insight discoverers we should aim at producing decision facilitators.
Researchers who can give input on processes, business scorecards, performance monitoring and managing systems, marketing strategies, sales plans and forecasts.
To enable us increase and improve the pricing model of research sector. To help us sustain the competition from social media monitoring industry and consultancy firms.
The slide deck reflects my thinking, and following is what I think is a summary of my vision for MR sector. have a look and let me knowwhat do you think
P.S. And while you are thinking about it, listen to this song – it helps to focus. (or okay lets’ admit it I liked the movie a lot)
Trends helps us to shape ourselves according to consumers’ expectations, following are 3 trends which are affecting the consumer. It is now up to us to use them or ignore them.
The Aware Consumer
We are talking to consumer, who are well traveled, informed and aware about their rights. They are becoming allergic to meaningless brand promises. And legislation and watchdogs are giving them new information about their choices
They seek a genuine relationship with brands. Be Honest with them, try to be a partner to them in their journey of life.
Lonely but connected
Massive friends on FB but Living alone. Consumers are disconnecting from real life. And they know this.
Help consumers’ to get back in touch with Real Life
Seeking a Meaning
Gen Y is more aware and hence are more conscious. Trend watching calls it Emereging Maturlism, you may call it a consumer who wants to make a positive impact
Offer consumers a chance to add a positive foot print, you will be pleasantly
[Thanks Planning Lab. ]
Change is the only constant, and who knows it better than us.
Here is a summary of what I think will happen in Marketing research:-
1. Traditional MR will be replaced by Social Media Listening and Integrated data solutions
2. Revenues of marketing research will mostly come from emerging economies and hence more understanding of local languages and cultures will be required to interpret data meaningfully
3. Integrated data mining tools that will integrate social media data, sales data/ retail data and with customer profile will be used in predictive models to forecast behaviors and trends.
4. Impact of each data based decision will be assessed through financial value i.e. cost of analysis and revenue generated
5. A Research manager will be required to understand the complete value chain of client and how the data is flowing in the value chain. Plus, he will be required to understand strategic planning, forecasting models, data integration methodologies
Gen Y today accounts for 1/3rd of consumer base, it is important to understand what defines this generation and how they perceive their personal & professional lives. Hopefully this infographic will help
Another interesting infographic on Gen-Y
The world is full of global brands. Which were never designed to be global brands? How to dominate the world is about how to beat them.
Rule 2: Think Trial – UAE is a paradise of retail outlets, think trial to all the young audience and the expats that have recently arrived
Rule 3: Think Visual – When 208 nationalities combine speaking multiple languages, the language of your brand should be visual
Rule 4: Think Youthquake – UAE population has an average age of 27, you should connect to the young & rising.
Rule 5: Think Small – UAE is getting green, your brand should be saving on paper and all avoidable wastes because you love environment
Rule 6: Think Print – The media in UAE is print, followed by digital. Think visual, body copy and go crazy
Rule 7: Think Fast – People are on the move, fads are coming and going and where the hell is your brand? Move fast because if you will not your competition will
Rule 8: Think Cultural Neutrality – So many cultures, so many languages but one dream — Dubai Dream
Rule 9: Think Kiasu – Ambition charges UAE population & your brand should fuel it
Rule 10: Think Mobile 200% penetration rate of mobiles asks brand to evolve through modern technology
Brand Mantra: In UAE brand should capture human imagination, and should capture it faster than human imagination
I have been in sessions, where client completely negates the data. And on the other hand some clients have been eager to know recommendations. In either case, the client has to be entertained in a certain way. I am suggesting a matrix in the light of my experience; hope it adds value to your daily jobs. I suggest that one should try to read the client before presenting the data, try to predict his reaction and than draft the presentation.
Recently Community engagement has reached an appraisable level of interest across public sector globally. There could be many reasons for this including success of Obama’s election campaign, strong conviction of USA, UK & Australian government towards public engagement, UN millennium development goals and technological advanced population.
I have tried to compile the learning’s from across the globe in this document (public engagement in public services), I hope you will find it useful.
I personally believe in identifying the challenges first because that stimulates the thinking as to how these challenges can be addressed. Below is an extract from the document, it highlights the key challenges
A comprehensive list associated with community engagement is available at the website of Queensland Government (Australia); following are some risks which I foresee in community engagement
We (you and I), people who are in the eye of the recession and were in the eye of the unrealistic boom are one of the most interesting consumer segment I have come across during my marketing career. This is the reason why I think so
All of this has shaped our behavior, we can laugh about things which our previous generations couldn’t. We worry about situation which never existed before. In short, We are stronger, agile, insecure and more connected. If you disagree then enlighten me with your opinion.
Now in the following presentation I am investigating the post-recession consumer. I believe the world is going through an optimism divide i.e. hopeful BIC (Brazil, India & China) vs. the rest of the world. The insecurities and the charged passion is changing marketing landscape.
Here is my view:
I talked about trust in this blog almost 6 months ago and PWC’s report released today on 31-Oct-10 just re-confirms my thoughts (talk about bragging): PWC – Trust report
Survey report – 3 out of 5 people in UAE believe that UAE is in recession - (This is just the executive summary – full report can be viewed by premium members)