Core Themes from TMRE24

It was great to attend last week's TMRE 2024 in Orlando, FL, engage with leading insights experts, forward-thinkers, and market disruptors, and participate in some great sessions.

The overarching takeaways;

• Generative AI is a catalyst for speed, efficiency, and precision in insights and innovation 
• Effective storytelling bridges data and action by connecting emotionally with audiences 
• Tailored choice architecture and communication strategies amplify the impact of consumer engagement 
• Technology complements human expertise, emphasizing the role of insights professionals as strategic drivers of transformation 

{Breathes a sigh of relief}: We're all here to stay. 

Generative AI is a powerful tool that enhances human creativity and decision-making, but the heart of innovation still beats with human insight and the integrity of the data driving it.

Core Themes from TMRE24

Driving Customer-Centric Innovation Through Insights, Storytelling, and Generative AI

1. Customer-Centricity & Leadership in Insights

Procter & Gamble's Chief Analytics and Insights Officer, Kirti Singh, talked about how his organization maintains its customer-centricity focus, and shared this advice:

• Have Leadership Intent: Focus on winning both the hearts and minds of consumers.
• Have a Learning Mindset: Cultivate curiosity to discover and adapt to consumer needs.
• Have a Business Acumen: Use insights to grow the market, leveraging generative AI to augment -not replace- human expertise

2. Transforming Insights Teams with Generative AI

SightX's own Naira Musallam led a session focused on "How Generative AI is helping transform insights teams into strategic powerhouses" which we've summarized here. In short, generative AI enables rapid speed and efficiency, significant cost savings, and refined customer segmentation. Some staggering statistics:

• AI automation can reduce time-to-insights by up to 80%
• Companies using AI analytics are 33% more likely to be leaders in real time marketing
• AI automation can cut market research costs by up to 90% 
• AI segmentation boosts customer engagement by 233%

3. Data Storytelling: From Insights to Action

1. 1. Be concise and engaging: Think like a journalist, not a novelist.
   2. Know your audience: Content is not a one-size-fits-all. Customize for 'who,' and connect, connect, connect. 
   3. Evoke emotion: People remember stories (not facts or figures). Create relevancy. Make them feel.
   4.  Ignite action: Inspire change through emotional resonance
      
   5.  Embrace technology: Deliver insights in innovative, relevant ways.

4. Influencing Decisions via Choice Architecture

Brilliant Wharton professor, economist, author, and host of the Choiceology podcast Katy Milkman educated us on the concept of "choice architecture", or how choices are influenced very much by context. 

To be better choice architects, we as brand owners and marketers should heed these principles of choice architecture:

• • Use helpful defaults to encourage positive decisions.
  • Deploy powerful prompts to subtly guide attention.
  • Leverage social norms to encourage conformity.
  • Apply strategic timing to nudge decisions effectively.
    

5. Revolutionizing Innovation with GenAI

Principal at ZS, Tim Joyce, led a panel discussion with Hershey's Amanda Beacher to discuss how -through collaboration with ZS's Atlas Intelligence Tool (generative-AI powered)- they are reinventing the new product innovation process.

6. Audience Insights for Effective Communication

Charles Duhigg, writer at The New Yorker, and author of "Supercommunicators" discussed how the right conversation at the right moment can change everything. Through the "matching principle," we can tailor conversations to meet our audience's needs, be they practical, emotional, or social.