Demonstrating your ROI and value in line with your organisational KPIs
Day One Podcast: Insights Room 101
Episode 10: Jamie Unwin
On The Day One podcast – Insights Room 101, hosted by Hannah Mann, our guests describe three of their worst insight industry pet peeves and aim to lock one of them away forever in Room 101, much like the popular British TV show.
Our guest on this episode is Jamie Unwin, Commercial Insight Officer at Nanoform. Jamie joins us on the Room 101 podcast to share what things in the industry he’d like to see banished in Room 101 forever. Jamie’s main pet peeves are: one-way glass in central facilities, insights professionals who push back on assigning an ROI, and “intent to prescribe” as a metric. Jamie provides meaningful criticism during our conversation and possible solutions, hope you enjoy it.
For his first insights irritation, Jamie wants to get rid of one-way glass in a central facility. He describes the practice of trying to obtain consumer insights in a room with no windows and one-way glass as “bonkers”. In the effort to work on healthcare research, the insights team tries to de-stress the subjects from their possible external bias by feeding them and giving them a glass of wine, and then they turn around and put them in a situation that achieves the exact opposite goal of market research.
For his second pick for Room 101, Jamie chooses insights professionals who push back on assigning an ROI. He said the smartest insights teams offer to do work free of charge to an organization under the agreement that if they can find metrics that improve upon their baseline business, they can share the profit. The trick is figuring out the baseline, but once the organization and insights team can agree upon everything, delivering an ROI is achievable and measurable. Jamie expands by saying the ideal organization for an insights team to approach is one in which they have not made an improvement in business in five years. Then, the baseline is easy to establish, and finding metrics to help improve business along with an ROI follows.
People hide behind too many handshakes in the process of pushing back on measuring the ROI according to Jamie. Great insights professionals push their segmentation all the way to the decision-maker, all the way to the handshake. The historical passive nature has to be replaced by this new approach. ROI is measured by patients: The value you can bring to patients, says Jamie. Motivate the industry to change, and ROI will become di rigor and may be automated.
And for his final pick, Jamie chooses using “intent to prescribe” as a metric. He says prescribing is the most complex function a physician can undertake, and yet, it is reduced to a simple metric simply out of habit and because it’s easy. Jamie points out that recommender-based systems are finding their way into the field, which will lead to nano-targeting. Along with the role of UX, insights teams will need to contend with data security, ethics, and compliance once recommender-based systems take hold of the industry.
Jamie agreed with my choice of “intent to prescribe” for Room 101. And we also agreed that nano-targeting and recommender-based systems will need to be sensitive to the “creepy” aspect of predicting choices for people. We both enjoyed the conversation, and we hope you do, too.
About – Jamie Unwin:
Dr. Jamie Unwin is the Commercial Insight Officer at Nanoform, an innovative nanoparticle medicine-enabling company where he helps clients understand the value that his services and solutions bring to their individual drug candidates, as well as to portfolios as a whole. When he is not serving as a passionate advocate for patient centricity in new drug development, he is a visiting lecturer at Imperial College Business School in London where he teaches classes on advanced analytics in healthcare.
Relevant Links:
Jamie’s LinkedIn.
Nanoform - Website
Day One - https://www.dayonestrategy.com/
Hannah Mann - LinkedIn