Meet Laurent Rochat, the founder of Innovation Atelier, a cutting-edge marketing research consultancy that combines traditional research with new research methods to offer consumer insights to Fortune 500 companies. GBN had the opportunity to sit down and discuss how they use the newest research methods in order to better understand consumer behavior, and the future of marketing research.
Innovation Atelier SA uses Behavioral Economics in all aspects of marketing research: in research design, to construct more experimental designs; in the framing of questions, so that they capture the right information by simulating or replicating real-life cognitive processes; and in the interpretation of findings. They have developed a proprietary framework to systematically tap into what they know from Behavioral Economics in the research they conduct.
What is Behavioral Economics, and how do we study it?
Laurent Rochat explains: “Behavioral Economics informs us on human nature; these basic traits and biases that everyone has. Researchers used to ask questions to consumers about pretty much anything, forgetting that a lot of what we do has unconscious origins and is difficult to articulate. Also, we humans tend to give answers to any question; we have an incredible ability to invent a credible, rational explanation for our behavior, when in fact that behavior was instinctive, occurring without thinking about it. Behavioral Economics tells us when to listen to consumers, and when not to listen to them.”
Part of the company’s philosophy is that there is no one-size-fits-all technology or solution for all companies. This is why the company uses a broad mix of research methodologies to get to the heart of consumer reactions, combining traditional techniques with new or emerging methodologies. Technologies that quantify behaviors tend to provide excellent insights in combination with traditional approaches. For example, mobile ethnography works well to gain occasion-specific insights, webcam-enabled emotions recognition provides an in-depth assessment of emotional advertising.
What makes Innovation Atelier different?
When asked what sets Innovation Atelier apart from other research companies, Mr. Rochat’s attitude is that “It’s very simple: we listen to our customers, understand their needs and tailor research to address their business questions. It can involve innovative research techniques or technology, but not necessarily. What matters is to frame the question well and to get the best answer.”
But there are many market research companies out there, and in such a competitive field, it is difficult to make sure a company stays innovative. According to this entrepreneur, “Innovation is a mindset, not an asset. It’s about how, not what. And its key ingredients are curiosity and passion. Now is a great time for marketing research because things are evolving fast, after years of status quo! Basically, what I try to do is to keep myself updated on all the latest advances in marketing research, and systematically ask myself: can this provide better answers to business questions? Can it provide new answers? How can it be turned into superior consumer insights?”
Mr. Rochat is a P&G alumni, which could be considered as the place to learn marketing. So why did he decide to create his own company? “Starting my own company was always the plan. When I joined P&G back in 2004, I thought I would spend something like 2 years and then get started on my own venture. Then, I really enjoyed working for P&G and ended up spending nearly 7 years there!”
Now, Mr. Rochat works with a small team of experienced managers. They do most activities in-house, and work with experts when they need additional help. They have also developed a network of partner agencies over time, to increase their geographic coverage and give them access to extra resources.
Finally, we asked him the million-dollar question for many market researchers: what does he look for in the ideal candidate? Curiosity, mainly. Mr. Rochat believes that it is the one main skill any market researcher should have, although an analytical and disciplined mind would help.
Innovation Atelier celebrated its 5th anniversary this year. Mr. Rochat is hopeful that they will keep developing as they have in the first five years.
As for the future of marketing research, Mr. Rochat’s take is: “I think it will move towards better integration of information from different sources to deliver superior insights. Combining big data, artificial intelligence and tailored consumer research could really create a breakthrough in marketing research over the next decade.”
For more on Behavioral Economics
Passionate about Behavioral Economics, Laurent Rochat added: “I would really like to take the opportunity to promote the Geneva Behavioral Economics Meet-Up group. Geneva, and more generally the Leman-area is a unique place with a lot of multinational companies, the presence of the UN and numerous NGOs, excellent universities and programs (amongst which the ambitious Human Brain project at the EPFL). I see no reason why Geneva couldn’t become an international hub for Behavioral Economics.”
The Geneva Behavioral Economics Meet-Up group meets every quarter, and tries to have one or more interesting presenters each time to share their knowledge. The next event will be in May or June 2016 (the date will be confirmed on meetup.com).
Photo credits: jarmoluk via Pixabay, CC0 Public Domain License and Innovation Atelier
