In this episode of the Consumer Insights Podcast, Thor is joined by Märta Eriksson, Senior Manager, Consumer Insight and Analytics at Marshall Group.

Organizations exist because they solve problems for people. And solving those problems requires a deep understanding of the underlying needs, as well as the ability to translate them into business impact. Achieving this outcome requires a multitude of factors working together in harmony – and insights are the bridge that connects everything together. 

You can access all episodes of the Consumer Insights Podcast on Apple, Spotify, or Spreaker. Below, you'll find a lightly edited transcript of this episode.

Thor Olof Philogène:

Hello everyone, and welcome to the Consumer Insights Podcast. Today, I'm excited to have a brilliant insights leader joining me for what I know will be a great conversation. I'm thrilled to introduce today's guest, Märta Eriksson, Senior Manager of Consumer Insights and Analytics at Marshall Group, the audio, tech, and design powerhouse behind Marshall, Natal Drums, Urbanears, and Adidas Headphones. In her current role, Märta oversees the analysis of a range of global data sources to develop customer-focused strategies and offers. Prior to joining Marshall Group, she worked as a consultant, specializing in marketing, change management, and collective intelligence in Sweden. She also spent time with a startup incubator and software company in Singapore. She has a bachelor's degree in consumer behavior and market research from the Stockholm School of Economics, as well as a double master's degree in business from the Stockholm School of Economics and the National University of Singapore. She's also studied evolutionary psychology at the University of Sussex. Thank you so much for joining me, Märta.

Introducing Märta

Märta Eriksson:

Thank you so much. I'm so glad to be here and talk about my favorite topic, consumer insights.

Thor:

And we are very excited to have you on. So, to kick things off, could you take a couple of minutes to tell us about yourself, your role, your company, and how you got to where you are today? How did that whole journey begin?

Märta:

Yes, of course. So, currently, I'm the Senior Manager, Consumer Insight and Analytics at the Marshall Group, where I lead the function that supports our business across departments with consumer research, insights, and data. The Marshall Group was actually born this spring, following the fusion of Stockholm-based Sound Industries and the UK brand Marshall Amplification. We had collaborated for more than ten years and are now coming together as one group, so it's just fantastic to be part of that journey. I've been with the company for a few years and have been working in the Consumer Insight and data field since I joined.

Working with Consumer Insight, specifically in the field of music, is truly fantastic because music is a passion for so many people, and it can create and evoke such strong emotions.

It's connected to people's identity and who they are, and it's just amazing to learn how our products help people create, live, relive memories, and feel such joy through the power of music. That's something I really love about my job. I've always been very interested in behavior in general, and more specifically, in consumer behavior. My educational background is specialized in this field, so I would say there are many reasons I ended up in this career, but my interest in people's behavior has been the key. I love exploring and understanding how identity is expressed through consumption patterns—how we communicate group belonging, our values, and our mindsets just by walking down the street in our clothes, the products we purchase for our homes, the food we eat, or what's playing through our headphones. My curiosity for understanding people's behavior has really led me to where I am today.

How do you, as an insights leader, define an insight?

Thor:

I love hearing the passion in your voice. And I think everybody can relate to what you said initially about music. I think many of our listeners are curious to hear your take on it from that perspective. To start things off, could you tell us, as an insights leader, how you define an insight?

Märta:

I love this question. I’ve spent a lot of time thinking about it and, of course, talking to other insights professionals in the industry about the definition of an insight. What is the truth? What is an insight? What is data?

I like to differentiate between data and insights. In my world, data can, of course, be both qualitative and quantitative, but data is just a data point—it's an observation, and it can lack direction.

Data does not always contain an explanation. Insights, on the other hand, are the triangulation—they provide the explanation and application of data. Insights offer a deeper understanding that goes beyond surface-level observation and provide meaningful explanations and actionable information about a market or consumer behavior. So, I think the word "actionable" is super important here, and the word "explanation" is also key.

Why are consumer insights so important?

Thor:

And from your perspective, why are they so important? Why are consumer insights so important?

Märta:

Because organizations exist to solve problems for people. They help people achieve something or get a job done, and people are willing to pay for the solution, which is the very reason why they hire or fire a brand or a product. Sometimes the solution might be very innovative and new, and consumers might never have encountered the product or service before. But there's always an underlying consumer need.

I believe that the consumer insight and analytics function of a company exists to understand what those needs are and how to solve them better.

Sometimes those needs can be very explicit, or they can be subtle. They can be functional, emotional, or social. Most importantly, we exist to uncover these insights, advocate for them, and drive them into the business. In doing so, I believe the insights function has the ability to unite the whole organization and become a foundation and enabler for cross-functional collaboration around these insights. And so, yeah, that's why I think they're so important for an organization.

How do you think about the connection between insights and strategy?

Thor:

And I absolutely love that. I know you're really passionate about the connection between insights and strategy. Could you tell us a bit more about how you think about that?

Märta:

So, I believe to best utilize the competence of a Consumer Insights and Analytics (CA) function, it needs to be closely tied to the strategy of a company. The strategy of a company typically spans across various departments, so it becomes important for the team to work cross-functionally and connect the insights to the overall strategy. With a more holistic approach to the consumer insights function, I believe it can become so much more than just a data provider. If we connect consumer insights to strategy, we can become a strategic sounding board that actually unites the organization and helps it work towards its strategic objectives. If we have the strategy as the North Star, then the insights function becomes the vehicle to help the organization reach that North Star.

Can you share an example of how insights fueled innovation in your career?

Thor:

I love that. And I think nobody will disagree with you on that one, but we are very curious and would really like to hear if you have any stories you can share about times during your career when you've integrated insights and how you've seen those insights fuel innovation. That can be for campaign building, process improvement, or product development. What have you experienced? What were the insights that created the opportunity? How did you uncover the insight? What team found it? And tell us about the end result.

Märta:

I love this question, and I'm so driven by impact myself, so I spend a lot of time thinking about the impact we, as a function, can have. What comes to mind immediately is actually an example from my past experience, before I joined the Marshall Group, when I was with a consultancy firm. I remember we were working on a consumer analysis project, analyzing customer data, and we discovered that a very small subset of customers accounted for a significant portion of the company's revenue. It was fascinating to uncover that, out of the total customer base, only a fraction was truly profitable. We used CRM and data to uncover that. On top of that, we also did some desktop research where we went into different online communities.

We found that there was almost a cult around this brand.

People were so emotionally connected to the brand, and more specifically, to a certain piece of clothing. In this community, we saw people helping each other find older editions of this clothing item, and they sold it to each other. They were super passionate about this specific piece of clothing and the brand. This knowledge was really valuable and shed light on the impact that these specific customers had on the bottom line. That was only step one, the first phase. The next step was to understand why they were such fans and how the brand could nurture that. What value was the company delivering to them? In what way were they using the brand? What perceptions did they hold of the brand, and who did they become when they used it? It was clear that they had a strong emotional connection to this brand. Sometimes I think about that example, and it's so fascinating when we can see it in both the quant data and in these online communities—the emotional connections people have to a brand.

Thor:

And if we shift perspective a bit to look at the role of technology, which tools do you believe are essential to support insights professionals, and why?

Märta:

I like to think of this question as the perfect toolbox for a consumer insights and analytics function. I believe it’s important to work with a mix of quant and qual, a mix of agile iterations and more strategic, slightly slower-paced research. In the perfect toolbox, we would have historical data and follow-up tools to measure past performance. That could be market data or tracking perceptions and attitudes through various quantitative measurements and tools. But, on top of that, we would also need qual and quant to understand drivers, motivations, and needs. Lastly, we would include trends and more qualitative, forward-looking material to really future-proof the business, understanding where consumers are heading. So, in essence, a mix of qual and quant, a mix of agile projects and more robust ones, and a mix of past, present, and future.

Thor:

And if we double-click a bit on future trends tracking, what advice would you give people who are looking to up their skills in terms of tools?

Märta:

I would say that working on understanding where consumers are heading in the long term is a process where the entire company, or at least the key stakeholders, need to be involved. Preparing for the future should be considered a collaborative effort. It's about getting people on board and starting to plan for different futures because, in reality, there are several possibilities.

We can’t predict just one outcome, but as insights professionals working with the future, we need to look at various trends, understand and interpret macro trends, and think about what these trends mean for our business.

Then, the collaborative process involves getting key stakeholders on board and planning with them—building out different scenarios. For example, if we look at a particular trend and think about what it means for the business, what are the different scenarios we can envision? How do we prepare for that? How do we start planning for these potential outcomes within a specific trend?

Thor:

I love that. And something we talk a lot about on this podcast is the role of insights. I know you've mentioned that you see insights playing an important role in uniting an organization. Can you tell us a bit more about how you've approached elevating the role of insights, but also as a way to unify stakeholders across the organization? You touched on it slightly in the foresight question, but I'm curious to hear your view here.

Märta:

Yeah, of course. In my role today, I work very closely with senior leaders across strategy, marketing, sales, and product development. As an insights professional, I believe you need to have the ability to listen to people, understand their needs, and connect their questions and needs to the strategic agenda of the company.

You need to grasp how topics are interconnected and whether or not they align with the long-term strategy.

To become a successful insights professional and unify stakeholders, you must be highly skilled in collaboration. But it’s not just about that—you also need to genuinely believe in the importance of being an inclusive insights team. This means setting out to help people across departments. Only then can you truly support the company and remain department-agnostic.

Thor:

I love the inclusiveness. How do you go about it?

Märta:

I think it's important for insights professionals to build networks across the entire organization and establish strong relationships with people from various departments. You need to sit down and understand the different challenges they are facing in order to help them achieve the company’s objectives. We all know what we're striving towards, but how the different departments get to that point is going to look very different. As an insights professional, you need to sit down, listen to their needs, and understand what they require to reach that strategic North Star. So, as insights professionals, we need to listen, adapt, and truly acknowledge that the way we go about finding insights may vary depending on the department, but we’re all striving towards the same objectives.

Thor:

And if we zoom in on intra-team dynamics, what would you say is the DNA of a successful insights team? You've talked about collaboration, you've talked about inclusiveness. What skills do you believe are essential?

Märta:

Yes, I would definitely say the ability to collaborate, the ability to communicate, build relationships, and have a strategic mindset. But most importantly, the ability to commercialize the insights—the ability to apply the insights, integrate them into the business, and really drive them into the business. The actual insights are one important piece, but how we as a team manage to activate them for our different stakeholders—that’s what matters. That’s the impact.

How has your global experience informed your approach to insights work?

Thor:

Couldn't agree with you more. I think you have quite a bit of global experience, having spent time both in Sweden and Singapore. How would you say that has informed your approach to insights work?

Märta:

I would say that both from my time in Singapore and from recent years working with global research across several markets here at Marshall, it's so important to constantly remind ourselves of the importance of incorporating different regional perspectives into the topics we research. Of course, there are basic things such as ensuring translations are done correctly, both in terms of language and culture. For example, these are really table stakes when it comes to research at a global company. But most importantly,

It's about being humble and recognizing that someone else owns their interpretation and truth.

I believe successful insights professionals are generally good at this, whether it's about doing research in different countries, regions, or among different types of people in a specific country, etc. When we meet people, we listen, we're empathetic, and we aim to understand their point of view. That applies to global research, research within countries, and within different communities and sub-communities.

Thor:

And if we think about the people who have inspired you during the course of your career and what they've told you, what's the best career advice you've ever received?

Märta:

I would say not to forget to have fun and to work with what you're passionate about. For example, I'm not the most hardcore musician myself—I'm actually pretty bad with instruments, even though I've tried over the years. But I'm so passionate about the power of music, its ability to unite people, bring joy, create memories, and so on. I love working with insights and research in this field.

So, I think it's important not to underestimate the importance of joy in your work.

If you're having fun, you naturally bring a lot of enthusiasm and excitement with you. So that's probably the best advice I’ve ever received—don’t forget to have fun.

Thor:

I think you're touching on such an important element of motivation, and that allows us to become really great. And if we take a look ahead at the opportunities insights professionals have to make an impact on their business and challenge whatever status quo might exist, what are the core ones you would highlight?

Märta:

I believe that as insights professionals, we can be—even better than we already are—at using mixed methods, constantly thinking about and adjusting the methodology to whatever business issue, problem, or knowledge gap we're trying to solve or close. Essentially, we need to be a bit more practical—not getting caught up in the methodology, but always being pragmatic in the application of the material. Sometimes, I've seen research professionals get very caught up in the methodology, the analysis, and the data part of it. But if we get too caught up in that, we lose the other people working on applying the findings. So, I would say we need a very pragmatic approach, using mixed methods—quantitative, qualitative, and thinking about data and culture.

What are the biggest challenges for insights professionals and the wider industry in the near future?

Thor:

 And on the flip side, if we talk about challenges, what are the biggest ones you see could face insights professionals and the wider industry in the near future?

Märta:

I would say the answer to this question would be slightly the same. I'm very driven by having an impact with insights, and I believe in its power to really fuel the business with these nuggets of insights or the seeds of insights that we can give to different departments. But the challenge that I see is when we lose ourselves in the analysis and don't get the people around us on board. That's when we are too focused on the analysis and lose track of connecting the research to the broader business objectives.

Who in the world of insights would you love to have lunch with?

Thor:  

Really sorry to say, Märta, but we've gotten to the end of this podcast. However, I do have one last question for you, which is: who in the world of insights would you love to have lunch with?

Märta:  

I love this question. If not my fantastic team here at the Marshall Group, then it would probably be the professor who actually introduced me to Consumer Culture Theory. I would love to catch the next plane to Singapore, enjoy some Laksa, and have a conversation with Prof Siok on Consumer Culture Theory. I always love to stay in touch with the academic world. We would probably talk about cultural and social capital, how consumers express group belonging, how they express their style and identity, and how it influences their buying patterns. I would love to go to Singapore again, visit a Hawker Centre with her, and discuss Consumer Culture Theory.

What key insights resonated from today’s conversation?

Thor:  

I think that sounds like a wonderful conversation. Wow, this has been such an exciting conversation, Märta. You have a truly unique view of the industry, and I think we can all learn from it. If I play back some of the pieces that really resonated with me, I'll say that when talking about insights, you highlighted the need to separate the insights from the data. Insights are the triangulation, explanation, and application of data. Organizations exist to solve problems for people, and the jobs-to-be-done framework could be applied here. People hire products to do jobs for them, and the consumer insights and analytics teams exist to understand what the underlying needs are regarding those particular jobs that people have hired the products to do for them. When talking about how you can elevate the role of insights, you highlighted the importance of connecting questions and needs to the strategic agenda of the company. To become a successful insights person, you need to support collaboration between departments in an inclusive way. Never stop including different regions' perspectives on whatever topic is on the agenda. And last but not least, to do great work, never forget to have fun. I know that I've learned a lot from talking to you today, and I'm sure our audience has as well. Thank you so much for joining me today.

Märta:  

Thank you, thank you, Thor. It's been a great time talking to you about these topics.