The GreenBook Business and Innovation Report for 2023 is here and it’s with genuine gratitude, to all of our team members, clients, and partners, that we see Behaviorally rank #6 among the Top 50 Most Innovative insights suppliers.
The “most innovative” ranking in the GRIT Report is derived from the 2,100 buyer and supplier responses to the GRIT Survey. Over 1,380 unique companies were spontaneously nominated as being top of mind for their innovative reputation. It’s in that context, that we reflect on Behaviorally’s upward trajectory from highest new entrant in 2021, to a place among the top 10 in 2022, and scoring #6 rank in 2023.
In each of those years, the Behaviorally team has embedded a culture of innovation and transformation within our day-to-day. This began in 2021 as we relaunched our brand under a digital-first strategy. That year, we were determined to shape the future of insights and operationalize our unique model for understanding consumer behavior within the digital products our clients have adopted at pace.
By 2022, the Behaviorally team had begun to grow into new areas, launching new products that provide brands with the data intelligence to improve performance of visual assets, and drive conversion at the digital shelf. It was in 2022 that we expanded our mission to support clients as “The Transaction Experts”, a reflection of our singular focus on that most important moment in marketing: when your product is purchased, and a sale is made.
The GRIT report for 2023 also plays back where the energy of the Behaviorally team has been centered most recently: the application of AI to unlock value in our unparalleled behavioral datasets. Notably, we have deployed AI to connect vision recognition technology, sales data, and consumer survey responses with our 50,000-case behavioral database of pack designs. The output, the PackPower Score™, an easy-to-understand one-number predictor of the sales impact of any packaging design change. Using the PackPower Score we can pinpoint that packaging design in isolation can impact sales of a product by up to 5% in either a positive or negative direction. importantly, the PackPower Score is fully integrated across the Behaviorally product stack – qualitative and quantitative methods alike – providing a common currency for brands throughout the packaging development process. PackPower predictions can also be produced at the speed and scale, as well as adaptability to context, that the era of digital commerce requires.
To delve deeper into the transformative power of AI in today’s workplace, and how we at Behaviorally have harnessed its potential to reshape our industry, I do encourage you to explore our insightful commentary on AI found in the GRIT report: “Artificial Intelligence at Work: Navigating the Revolution”, written by Thibault Cousot, our Head of Product.
But it is safe to say, AI will underpin our innovation strategy into 2024 and beyond. Given our earlier work to operationalize behavioral science within our products, instead of joining many competitors in a never-ending loop of academic debate, Behaviorally now has unrivaled behavioral datasets from which AI can unlock significant value. Through the PackPower Score, we’ve already combined our behavioral datasets with AI to offer clients much-improved sales predictions. Looking forward, the value to be unlocked by combining behavioral data with AI to curate insights on demand, or generate new marketing ideas, is exponential.
To all the winners, both clients and suppliers, who have earned their place in the GRIT ranking, huge CONGRATULATIONS! And a particular shout out to those many clients featured in the GRIT report and with whom Behaviorally is lucky and thankful to partner. Mostly to the Behaviorally team, we’ve discovered the joy of a culture of transformation and innovation, let’s continue building the future into 2024 and well beyond.
THE AUTHOR
Based in New York, Alex is a recognized pioneer in the field of consumer insights with a passion for combining the disruptive power of technology and behavioral science to drive growth. As the CEO of Behaviorally, Alex has been the architect of the company’s post-carve-out strategy, positioning and rapid expansion, leading transformation of the business from full-service agency to tech-enabled and scalable partner to leading brands around the world. Follow Alex on Twitter @AlexHunt84 or connect with him on LinkedIn.