Last week, our CEO and co-founder Owen Hanks sat down at the virtual IIeX Europe conference to talk with representatives from ITV and Swapfiets about how they use behavioral data to make decisions. Swapfiets, a Dutch micro-mobility subscription service company, rents bikes, scooters and ebikes to its members across several European countries. ITV is a British free-to-air television network that offers services such as ITV Player, ITV on demand and live TV.
The topic of the presentation, “Accessing Behavioural Data: Finding the Invisible Triggers”, was perfectly aligned with Measure’s value proposition for building an environment of trust where consumers will share more information, even traditionally hard-to-get behavioral data. Our Retro solution collects and processes raw data shared by individuals in a permissioned environment, turning it into valuable insights into activities like media consumption, app usage, shopping, gaming and more.
The panel members have clearly seen the benefits of accessing multiple types of data within their own businesses. Chahna Gosrani from Swapfiets has seen the company expand into five new countries in the six months she’s been with the company. She knows that fully understanding consumer needs helps them plan and go to market more effectively. She said that a big challenge is that they need to pull together various sources to find out what’s really going on behind what people are saying – “what consumers say they need is not always what they need.”
For example, all of the company’s user data indicates that customers come to Swapfiets because of the service and the convenience. However, customer survey data showed that people really like the “feeling of ownership” they get with the service. By connecting behavioral data (service, convenience) with the reported data (sentiment surrounding ownership), the company is able to get a more complete audience view to advise its outreach, marketing and growth.
Speaker Sameer Modha of ITV says that with TV viewing up, they have a lot of data to use across the business, but some of the behavioral data he’d like to use is still not accessible or analytically trackable. However, he’s been “bowled over” over the past few months at the willingness of the classic research world to collaborate across different parts of the insights ecosystem in ways that he hasn’t seen before. He said that using both survey and behavioral data is important, and one shouldn’t be exclusive of the other.
Both speakers agree that it is vital to put consumer insights in the context of real life. Chahna said that understanding what’s happening in a consumer’s life and predicting life events can translate well into effective messaging and communications. For example, Sameer indicated that behavioral data has key points buried in it that can be brought to light by marrying it with survey or reported data to influence decision making. It is important to pull more data together so that understanding consumer context is within reach.
In short, it is clear that companies need to be accessing data in different ways and bringing in more types of data to understand what their customers want and need. Owen was well suited to lead this panel discussion, as Measure offers solutions to uncover both reported and behavioral data, all in a permissioned, trust-based environment.
He concluded the panel by reiterating the importance of collaboration in the market research industry in order to build data that is more meaningful, and just how critical it is that we make consumers the focus: “treating them properly will get the best outcomes.”
A link to the presentation can be found (after registering) here: https://events.greenbook.org/iiex-europe/agenda/session/506660