Vote for Your Most Innovative Companies in Greenbook’s GRIT 2024 Survey Here
The Greenbook Research Industry Trends (GRIT) Business and Innovation Survey has just launched! The GRIT report is the most comprehensive and actionable guide for insights and analytics professionals.
The "most innovative" ranking in the GRIT Report is derived from the responses of thousands of buyers and suppliers who participate in the GRIT Survey. Last year, over a thousand unique companies were nominated for their innovative reputation, making Behaviorally's significant upward trajectory from being the highest new entrant in 2021 to securing a place among the top 10 in 2022, and now, ranking #6 in 2023, quite a prominent feat. How do we achieve this? By constantly innovating and staying ahead of market research trends.
Embedding a Culture of Innovation
Since 2021, when we relaunched our brand as Behaviorally (formerly PRS) with a digital-first strategy, we have embedded a culture of innovation and transformation within our day-to-day operations. Our focus has been on shaping the future of insights and operationalizing our unique model for understanding consumer behavior within the digital products our clients have rapidly adopted.
By 2022, we had expanded into new areas, launching products that provide brands with the data intelligence needed to improve the performance of visual assets and drive conversion at the digital shelf. Our mission to support clients as “The Transaction Experts” reflects our commitment to the most crucial moment in marketing: the purchase transaction.
The Power of AI in Behavioral Insights
The 2023 GRIT report highlighted our recent advancements, particularly the application of AI to unlock value in our unparalleled behavioral datasets. We have successfully deployed AI to connect vision recognition technology, sales data, and consumer survey responses with our 50,000-case behavioral database of pack designs. This led to the development of the PackPower Score™, a one-number predictor of the sales impact of any packaging design change. The PackPower Score can impact sales by up to 5%, positively or negatively, and is fully integrated across our qualitative and quantitative methods, providing a consistent metric for brands throughout the packaging development process.
To explore the transformative power of AI and how Behaviorally has harnessed its potential to reshape our industry, we encourage you to read our insightful commentary, “Artificial Intelligence at Work: Navigating the Revolution,” by Thibault Cousot, our Head of Product, featured in the GRIT report.
Innovation in the Digital Age
Innovation has always been at the core of Behaviorally’s strategy. The unprecedented shift to online shopping, accelerated by the COVID-19 pandemic, made innovation in shopper research even more imperative. We have deepened our commitment to a “digital-first” approach to support our clients, revolutionizing how we define the context of shopper behavior and evolving our product suite to be increasingly virtual and immersive. To ensure you’re consistently innovating, it is important to look ahead at the trends happening within our industry – and outside of it.
Trends from IIEX Europe 2024
Our recent session at Greenbook’s IIEX Europe 2024, titled "Revealing the Top 12 MRX Trends to be a Leader & Innovator," further underscored our commitment to pushing the boundaries of market research. We delved into key trends shaping the future of our industry:
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Unlocking Insights with Synthetic Data & Generative AI: Discover the transformative potential of synthetic data and AI in overcoming data limitations and generating novel insights. AI-powered insights are transforming the landscape of market research, allowing us to process large volumes of data quickly and efficiently, identify trends, and automate repetitive tasks.
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The Amalgamation of Big Data in MRX: Understand how the convergence of big data and market research can provide unparalleled insights into consumer behavior and market trends. The integration of diverse data sources allows for a comprehensive understanding of the consumer’s path-to-purchase.
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Power of Automation: Learn how automation streamlines research processes, allowing researchers to focus on generating strategic insights. Automation enhances the efficiency, accuracy, and scalability of market research activities, enabling more advanced analysis and faster decision-making.
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Sleuthing for Success: Investigate how methodologies that blend technology and human intelligence can unlock deeper insights into consumer behavior. Virtual realities and augmented reality are providing new platforms for conducting immersive and impactful research.
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E-Commerce Excellence: Explore strategies for understanding and optimizing the e-commerce experience. Digital imagery and enhanced product detail pages are crucial for capturing consumer attention and driving conversions.
By understanding these trends, we are able to keep innovating at Behaviorally. Our mission is to support clients as “The Transaction Experts” – which reflects our commitment to influencing the most critical moment in marketing: the purchase transaction.
Scaling Innovations for Client Success
We have also focused on making our innovations scalable and truly useful for clients. This commitment is reflected in the enhancements we’ve introduced to our suite of online pack and shopper marketing validation tools, such as PackFlash®. Our clients’ continued use and adoption of these tools underscore their commercial advantage and the real test of innovation in market research.
Celebrating Our Future … and Our Past
Lastly, innovation forces us to build on our strengths. For us, this means drawing on decades of experience since our inception as Perception Research Service (PRS) in 1972. As Behaviorally, we have maintained our focus on shopper marketing research, applying our behavioral framework to improve and innovate our methods, all aimed at helping our clients achieve their growth objectives.
We extend our heartfelt congratulations to all the winners, clients, and suppliers featured in the GRIT ranking. To the Behaviorally team, your dedication to a culture of transformation and innovation is truly inspiring. Let’s continue to build the future together into 2024 and beyond.
Remember to please vote for your most innovative companies in Greenbook’s GRIT 2024 Survey here.
THE AUTHOR
Crispin Beale is the Group President of Behaviorally. He leads the global customer success teams. He also serves as the CEO at Insight250 and is the senior strategic advisor to mTab. Crispin is a Fellow and past Chair/Board Director of the Market Research Society and has been an ESOMAR Representative for over a decade. Prior to Behaviorally, Crispin was on the Executive Management Board of Chime Communications and held the role of Group CEO for brands such as Opinion Leader, Brand Democracy, Facts International, and Watermelon. Crispin's career also includes key roles at BT, Royal Mail Group, and Dixons. He started as a chartered accountant and post qualification consulted at Cooper & Lybrand and PricewaterhouseCoopers.
