Pankaj Chopra is the director of strategy & insights for skincare giants Johnson & Johnson. Pankaj has vast international experience and has lived and worked in Asia, Europe, Russia and the USA. Prior to J&J, he worked for Procter & Gamble in several roles in global design, innovation, and marketplace implementation. His career has been focused on building and shaping business strategy and building brands by uncovering consumer insights & leveraging advanced analytics. Pankaj has worked on several Billion Dollar brands like Gillette, Venus, Old Spice, Secret, Olay, Neutrogena, Aveeno and Johnsons Baby.
Ahead of his presentation at the Digital Strategy Innovation Summit in Los Angeles on September 15-16, we sat down with Pankaj to talk all things digital strategy.
How do you and your team at Johnson & Johnson inform strategic decision-making with data?
We have a very data-driven approach at J&J. We look at hard data, combine it with our business understanding and qualitative insights and take decisions based on this holistic understanding. We also follow through our decisions by measuring their respective outcomes through specific metrics. Tracking enables us to refine our decisions going forward and also enables us to course correct when needed.
How can analytics shape customer experience? And how important is customer experience to e-commerce?
Analytics enables us to understand how our customers are responding to our products, services, and communication. It is extremely important to establish the appropriate benchmarks and ensure that customer experience meets or exceeds these performance/experience benchmarks. Superior customer experience is critical to success as it facilitates ‘trial’ and motivates ‘repeat’ thereby building a sustainable eCommerce business.
Is over-personalization a worry, particularly with existing concerns over customer privacy?
The standards and expectations of personalization have evolved and will keep evolving over time. Hence it is critical for any company to perform versus these consumer expectations. As long as we are using customer data that our customers are sharing willingly, we should continue to leverage this data to create a superior experience for our customers. However, we should stay within ethical boundaries and not try to access and leverage data that our consumers and customers are not willingly sharing.
What are the key competitive advantages to come from properly leveraging customer insights?
Strong customer insights can create win-win partnerships for manufacturers and suppliers. It lays a robust foundation of partnership that can help companies to drive profitable growth both for manufacturers and the customers. It enables us to provide superior products and experience for our consumers and improve category profitability and value.
How has mobile changed e-commerce and enabled more detailed analytics? Are buying habits notably different?
Mobile is becoming the primary e-commerce interface for most consumers. Hence it is extremely important that we all approach eCommerce with a ‘mobile first’ approach. Mobile is not only a key driver for eCommerce but also has a critical role in educating consumers and driving in-store / omni-channel purchases
What will you be speaking about at the Digital Strategy Innovation Summit in LA?
During my session, I will focus on how companies can use insights to create a competitive advantage in the area of eCommerce and win with Customers and Consumers.
You can hear more from Pankaj, along with other industry-leading executives at the Digital Strategy Innovation Summit this September 15-16 in Los Angeles. To register your interest, click here.