Introducing the Insights Awareness Index with Lucy Davison

In this episode of "Now That's Significant," host John Bird, EVP at Infotools, speaks with Lucy Davison, founder and CEO of Keen as Mustard Marketing, about the launch of the Insight Awareness Index, a new initiative aimed at measuring brand awareness within the market research industry. Davison, drawing upon her extensive experience in B2B marketing, highlights a common issue within the industry: market research companies often struggle to promote themselves effectively, despite excelling at providing marketing advice to their clients.  

The Insight Awareness Index aims to address this challenge by providing a benchmark for market research and insights companies to measure their brand awareness and track it year after year. The index will survey industry professionals, asking them to name companies they associate with specific market research needs, such as brand building, customer experience, or innovation, going beyond simply measuring open rates or website traffic.

Here are five takeaways from the conversation: 

The "Cobbler's Children Have No Shoes" Problem: Market research companies often excel at advising clients on marketing but struggle to apply those same principles to their own brand building.

The Importance of Long-Term Brand Salience: B2B purchasing decisions are often driven by brand recall and mental availability, making long-term brand building crucial for market research companies.

Moving Beyond Short-Term Metrics: Measuring open rates and website traffic is not enough; market research companies need to focus on metrics that reflect long-term brand awareness and impact.

The Power of Events and Thought Leadership: Davison highlights events and thought leadership as particularly effective ways to drive awareness and build relationships in the market research industry.

The Insight Awareness Index as a Benchmarking Tool: The index will provide valuable data for companies to track their brand awareness over time, identify effective marketing strategies, and benchmark themselves against competitors. 

The first set of results from the Insight Awareness Index is expected to be released in the fourth quarter of 2024, offering valuable insights into the industry's perception of different companies and the effectiveness of their marketing strategies. To learn more about the index, participate in the survey, or access the results, visit insightplatforms.com.

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Infotools Harmoni is a fit-for-purpose market research analysis, visualization, and reporting platform that gives the world’s leading brands the tools they need to better understand their consumers, customers, organization, and market.

Established in 1990, we work with some of the world’s top brands around the world, including Coca-Cola, Orange, Samsung, and Mondelēz.

Our powerful cloud-based platform, Harmoni, is purpose-built for market research. From data processing to investigation, dashboards to collaboration, Harmoni is a true "data-to-decision-making" solution for in-house corporate insights teams and agencies.

While we don't facilitate market research surveys, we make it easy for to find and share compelling insights that go over-and-above what stakeholders want, inspiring them to act decisively.

One of the most powerful features of Harmoni is Discover, a time-tested, time-saving, and investigative approach to data analysis. Using automated analyses to reveal patterns and trends, Discover minimizes potential research bias by removing the need for requesting and manually analyzing scores of cumbersome crosstabs – often seeing what you can’t.

Discover helps you easily find what differentiates groups that matter to you, uncover what makes them unique, and deliver data points that are interesting, relevant, and statistically significant, plus see things others can’t. Add to all this an impending GenAI feature, and you have an extremely powerful, future-proofed tool.