This podcast episode, hosted by Michael Howard, features Vera Chien, Executive Director of Corporate Research, Data and Insights at Warner Bros. Discovery. They delve into the fascinating world of consumer insights within the entertainment industry, exploring how research shapes content creation and strategy at a company with a vast portfolio of iconic brands. Vera emphasizes the importance of a holistic approach to research, going beyond primary data collection to include thorough preparation and compelling data visualization.
The conversation highlights the collaborative nature of insights across Warner Bros. Discovery, with specialized teams focusing on different areas (breadth and depth) while sharing knowledge and collaborating on broader strategic initiatives. Vera also sheds light on the evolving landscape of consumer behavior, discussing trends like "content rationing" and the rise of vertical video consumption, particularly among younger audiences. The episode touches upon the company's exploration of AR and VR technologies, recognizing their potential for consumer engagement and data collection.
1. Think Holistically: Don't just focus on conducting primary research. Invest in pre-research preparation and post-research data visualization to maximize the impact of your findings.
2. Leverage Internal Data: Utilize the wealth of first-party data from streaming platforms and other internal resources to understand user behavior and preferences.
3. Combine with External Data: Integrate first-party data with third-party sources like Nielsen ratings and social listening tools for a comprehensive market view.
4. Stay Current with Consumer Trends: Keep up with evolving consumer habits, especially among younger generations, such as "content rationing" and the growing popularity of vertical video.
5. Explore New Technologies: Experiment with AR and VR to engage consumers and gather insights, while acknowledging the challenges of adoption and the need for compelling experiences.
Tune in to more episodes of "Now That's Significant" for insightful discussions on the latest trends and strategies in the world of market research.