IIEX APAC 2024 Speaker Interview with Pratt Hetrakul

Disclaimer: opinions represented here are personal and do not represent those of Meta. Join us March 5-6, 2024 for the event. Find more information on IIEX APAC 2024 here!

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Pratt Hetrakul, a speaker at IIEX APAC 2024, discusses the relevance of regression-based analysis in marketing, specifically the Marketing Mix Model (MMM). He challenges the notion that MMM is only for brand-oriented advertisers, emphasizing its benefits for performance-driven advertisers. Pratt emphasizes the importance of open-source solutions for MMM, providing better visibility and validation. He believes this insight is groundbreaking for the market research community.

Pratt is interested in understanding how innovations shape social and business interactions and emphasizes meaningful changes in people's lives through research innovation, whether in car safety, product customization, or marketing. Pratt highlights the need for better integration between consumer insights and product innovation, bridging the gap between research findings and product/service design and production.

In the future, Pratt hopes to see cross-discussions at IIEX APAC 2024 among professionals from various fields, contributing to shaping the future of insights.

Question #1: Give us a brief peek into your talk. What are the key insights and take aways?

This talk will bust the myth on whether regression-based analysis approach like Marketing Mix Model (MMM) is only relevant to brand oriented advertisers (CPG) or relevant to performance driven advertisers (E-comm, Retail) as well and highlight how advertisers can leverage open-source solutions for MMM.  

Question #2: You have a great topic. What led you to choose it?

In a nutshell, MMM enables marketers to get the most value out of their media investment. However, in the past MMM has been perceived as a pandora box with limited visibility on what goes behind the scene to arrive at insight. The open-source approach enable practitioners with better visibility and validated against other approaches. I believe this insight is pro-founding to market research community like IIEX APAC 2024. 

Question #3: We are glad to have you with us. What would you like to learn from other speakers and attendees? 

How innovations are shaping the way people interact both socially and through the business lens. 

Question #4: Our industry is buzzing with the word innovation. What is research innovation to you?

Insight is only as valuable as the actions it can lead to. To me, research innovations come in different shape and form regardless of the technique it was derived from. As long as insights enable for meaningful change in the way people live (better car safety with automation, better product customization or marketing) to me these are innovations. 

Question #5: Greenbook works to move the insights industry and profession forward into the future. What is the biggest thing you would like to see change to improve for our industry?

The bridge between consumer insight and product innovation. Often time we have plenty of consumer research insight, there seems to be the gap of how the learning can shape the way product/service were being designed and produced. 

Question #6: Speaking of the future, the IIEX conference series is a leader in leading discussion of insights future prediction. What do you see on the horizon that (hopefully) attendees can discuss at this event?

Cross discussion between people from different area of expertise (e.g. marketeers, business leaders, financial technology, public entity).