Highlights: Corporate Researchers Conference 2024
By Amy R. Castelda
Last week the Insights Association hosted its annual Corporate Researchers Conference in New York. Dubbed the only conference developed by corporate researchers for corporate researchers, the event draws leaders and research practitioners from brands large and small across all industry verticals, as well as non-profits.
Sessions spanned from innovative applications of tried methodologies to impactful case studies and of course, our dear friend AI. Here’s a recap of my top three session:
Why Stories Make Us Care When Numbers Don’t
Wednesday morning keynote speak was Anthony "Tas" Tasgal, a seasoned brand and communications strategist with over 15 years of experience as an ad agency account planner. He develops insight and storytelling strategies, is a Course Director for several leading institutions, and the author of six books, including the award-winning The Storytelling Book.
His session, "Why Stories Make Us Care When Numbers Don’t or, How to Be a Radiator, Not a Drain," proved why he deserved the keynote spot. He dove into the challenge we face in our data-saturated world—where being Data Rich but Insight Poor (DRIP) is all too common. It became clear that merely bombarding our audience with data and facts, what Behavioral Economics refers to as overwhelming "System 2," often backfires. Instead of engaging, we risk draining their attention and energy.
The session emphasized the power of storytelling as the antidote. By weaving data into compelling narratives, we can transform ourselves from energy-draining “data dumpers” into radiators—captivating, energizing, and insightful communicators.
Takeaway: Storytelling doesn’t just convey information; it also reestablishes the “author” in “authority.” This was a recurring theme as the speaker outlined how stories create coherence, the much-needed “Golden Thread” that ties insights together, making them more impactful and memorable.
Connecting with Consumers Ages 50+ - A Multi-Trillion-Dollar Market Hiding in Plain Sight
In this session, we’re reminded that being ‘youth obsessed’ (looking at you Millennials and Gen Z) can mean missing out on talking to a multi-trillion-dollar market hiding in plain sight. So, while younger demographics often dominate marketing discussions, this session made it clear that the 50+ consumer segment is a treasure trove of untapped potential.
Led by experts from NielsenIQ, General Motors, and AARP, the session delved into the immense value of the over-50 market and debunked many of the common stereotypes that often lead brands to overlook this demographic. They highlighted the diverse and growing nature of this group, emphasizing that it’s not just about age—it's about understanding their unique needs and preferences.
Takeaway: The realization that engaging the 50+ market isn't just an option—it’s a strategic imperative. The session underscored how rethinking traditional marketing approaches can open up new opportunities for brands across all industries to connect with this powerful and lucrative demographic. This market is not only large and diverse but also eager for brands to meet them where they are.
Predicting Product Demand Intelligently Using Conjoint Analysis
Attending the session on "Predicting Product Demand Intelligently Using Conjoint Analysis" at LexisNexis was incredibly insightful, especially for anyone involved in product development or pricing strategy. The speakers, Maegan and Brian, tackled a common frustration in market research: how to balance customer desires for top-tier features at rock-bottom prices—a balancing act that often seems impossible.
The session was particularly valuable because it broke down conjoint analysis in a way that was approachable, regardless of whether you had a background in statistics. They highlighted how this method allows companies like LexisNexis to make informed decisions about product features, pricing, and bundling, ensuring that new products not only attract customers but also justify their development costs.
Takeaway: The effectiveness of conjoint analysis in overcoming the limitations of traditional product and pricing research methods. By simulating real-world trade-offs that customers make, this approach provides a more realistic understanding of what features and price points truly matter, enabling better prioritization and ultimately, more successful product launches.
Bonus: Baal Dan Charities Networking for a Cause
In addition to the conference, W5 sponsored the Baal Dan Charities Networking for a Cause event bringing together professionals from market research, architecture, advertising, technology, and nonprofits committed to making a difference for children in need.
The event will help more than 500 children with life-saving food ration kits (3-month supply) through our partner Action for Social Development and Environmental Protection Organization (ASDEPO) that will save their lives with proven interventions to keep their weight up and healthy! Thank you to everyone that made this event possible.