Millennials are so yesterday. That’s the growing sentiment among brands as they make the shift away from the once-coveted Millennial consumer to now court the new generation in town, Gen Z, or the “iGeneration.” The oldest Gen Zers are now entering adulthood and look very different than their Millennial counterparts. They are the country’s most racially and ethnically diverse generation ever. Additionally, they are on their way to becoming the best-educated generation, according to a Pew Research Center report.
At ThinkNow we have the privilege of being able to work in both the public and private sectors, often on similar types of projects, and have noticed key differences in how they operate. Government agencies tend to be more procedural, with a clear chain of command, while private companies tend to lean into a more collaborative approach. Those differences are often necessary to the efficient operation of the organization or department but not always. The challenge for both is to break out of old mindsets and habits that hinder effectiveness.
“As long as there have been campfires, humans have gathered around them and conveyed their view of the world through the use of stories.” Geoffrey Berwind nailed it. Storytelling has long since been hailed by content marketers as one of the most effective ways to capture the time and attention of prospects. Stories are powerful connectors. When told or written masterfully, they ignite the imagination and spark curiosity. But why are we talking about storytelling here in the context of market research? It’s simple. As it turns out, the way traditional market research has been reported for the last 50 years has been all wrong. That’s a bold statement, but sadly true. You’ve been there, trapped in a dim boardroom, eyes glazing over, walking through a presentation deck 100+ slides deep chock full of charts and graphs. The facts are reported, but you have to wonder just how much understanding clients walk away with.
Brand strategists are tasked with knowing when to include market research in the scope of agency work for clients and with pushing back on the inevitable biases that arise in the agency when collecting and analyzing that data. Cognitive biases, the collection of faulty ways of thinking hardwired into the human brain, permeate almost every aspect of our lives. From anchoring to zero-risk, humans live and work with various types of cognitive biases that can impair judgment and stall progress, both personally and professionally.
While we’ve all been told that attending industry conferences are an “investment”, the reality is, conferences often seem more like an expense than a value-add. From registration to the plane ride there and back, time away from home, and the mountain of work piling up, conferences cost. So, as attendees, we go in with an “ROI mindset,” meaning, we’re asking ourselves, “how can I make this payoff.” So, armed with a conference badge and a stack of business cards, we jump into the endless sea of small talk. But recently, I had a different experience.
ThinkNow ConneKt and Knowy App Provide Real-Time Multicultural Consumer Insights We’re excited to announce that ThinkNow has just launched ThinkNow ConneKt, the first audience planning and segmentation tool focused exclusively on the multicultural market. This MarTech solution provides behavioral and psychographic data combining mobile intelligence, first-party data and panel profile insights to deliver a holistic view of multicultural consumers. “ThinkNow ConneKt is the first tool to help digital marketers go beyond binary targeting efforts to connect with multicultural consumers in real-time to deliver higher ROI on their advertising investment,”says Mario X. Carrasco, co-founder and principal, ThinkNow.