Lux Insights Inc.

BACKGROUND

Please describe your company and position.

I am the Product Lead of North America of Currencies Direct

Describe what your company does in a single sentence.

Currencies Direct provides foreign exchange services for customers around the world with a focus on cross-border property purchases and sales.

OPPORTUNITY / CHALLENGE

What specific goals or objectives did you hire Lux Insights Inc. to accomplish?

• Explore and understand property transactions in Canada
• Explore and understand foreign exchange landscape in Canada

SOLUTION

How did you find Lux Insights Inc.?

Online Search

Why did you select Lux Insights Inc. over others?

• High ratings
• Great culture fit
• Clear understanding of our brief

How many teammates from Lux Insights Inc. were assigned to this project?

2-5 Employees

Describe the scope of work in detail. Please include a summary of key deliverables.

• Review of top Canadian banks USD account propositions including pricing and positioning 
• Review of top Canadian foreign exchange providers, including product offering, pricing, and positioning with a focus on CAD-USD corridor
• Identify potential entrant positioning / value proposition
• Validate property sale closing process in Canada and key players

RESULTS & FEEDBACK

What were the measurable outcomes from the project that demonstrate progress or success?

• Clear view of bank USD account propositions
• Clear view of foreign exchange providers and awareness
• Clear view of property selling process

Describe their project management. Did they deliver items on time? How did they respond to your needs?

The Lux team excelled at managing to the timeline which was in their original proposal, despite encountering some challenges recruiting key players that we had wanted to interview.

What was your primary form of communication with Lux Insights Inc.?

• Virtual Meeting
• Email or Messaging App

What did you find most impressive or unique about this company?

• Clear and open communication
• They were highly competent in their work process and outputs, yet humble
• Professional and friendly

Are there any areas for improvement or something Lux Insights Inc. could have done differently?

This was the best market research engagement I have experienced with an external agency.

BACKGROUND

Please describe your company and your position there.

I'm a project manager in the Fish Program at the Washington Department of Fish & Wildlife.

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire Lux Insights Inc.?

We worked with Washington Sea Grant to contract with Lux to get more insights on what concerns and information needs consumers of local seafood have. This work will allow us to tailor our outreach efforts and may also support bigger initiatives around labeling and branding.

SOLUTION

How did you select this vendor?

We looked first for vendors on the state master contract list at both WDFW and WSG. We then conducted interviews and Lux impressed us based on the professionalism and experience on projects like this.

Describe the scope of their work in detail.

The Lux Insights Team set up in-person influencer interviews along with a survey of seafood consumers in Washington, Oregon and California. They then developed a report with key findings and recommendations on how to address some of the themes that came up in the survey around limited product visibility and demand for local, fresh and sustainable seafood products. The team also set up a report out and workshop with some of our partners which was really well received.

What was the team composition?

Our team included three primary leads at Lux Jessye, Nune and Kari and five core team members at WDFW and WSG. Lux did a great job providing weekly updates, steering us towards decisions and making sure we achieved our ambitious timeline for the project.

RESULTS & FEEDBACK

Can you share any outcomes from the project that demonstrate progress or success?

The workshop facilitated by Lux generated a lot of ideas including the development of videos, social media content and other tactics to highlight when and where to get local seafood, the high quality of frozen seafood and the sustainable and climate friendly practices within West Coast seafood sector. The workshop also identified a need to get organized around branding and labelling of local seafood to increase visibility. Our partners will be working to advance these ideas in the years to come.

How effective was the workflow between your team and theirs?

The workflow was really productive. We met every other week at minimum, sometimes up to weekly and Lux provided regular updates via email as well. The Lux Insights Inc. team is really responsive, professional, and a pleasure to work with.

What did you find most impressive about this company?

I was impressed by the way the Lux Insights team structured the market research, took our ideas and built them into the study design. They listened to the outcomes we were hoping to achieve and designed the survey to achieve those outcomes. I was also really impressed with the recommendations generated by the team on potential next steps and the workshop they facilitated with our partners. The way they structured the workshop was really interactive and got a lot of engagement from the 25 participants.

Is there any area for improvement or anything that could have been done differently?

Our team realized after receiving the report that it would have been helpful to have a factsheet style document vs. a slide deck to share with our partners. The Lux Insights team offered to develop one which is great and will really help us share out the results with those who may not have been involved in the workshop.

BACKGROUND

Please describe your company and your position there.

I am the ED of a mid-sized non-profit space and science centre.

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire Lux Insights Inc.?

We wanted consumer research and data collection as part of our ongoing strategy .

SOLUTION

How did you select this vendor and what were the deciding factors?

We contacted several firms to do the research. We decided on LUX based on recommendations from close associates and the content of the proposal submitted.

Describe the project in detail and walk through the stages of the project.

The idea behind the research was to get a better understanding of the consumer market, what they were looking for in terms of our business, how they felt about us and our products, how they felt about our competition.

How many resources from the vendor's team worked with you, and what were their positions?

We had a project manager that worked with us regularly. There were three/four other team members that assisted with the research.

RESULTS & FEEDBACK

Can you share any outcomes from the project that demonstrate progress or success?

The research confirmed what we thought was happening and also confirmed some interesting details about the market in general. This was especially important as related to our product.

How effective was the workflow between your team and theirs?

They had a strong team and they responded to our inquiries. We mostly corresponded via email and online meetings.

What did you find most impressive or unique about this company?

The team had experience, and it showed in how they handled our questions and made recommendations.

Are there any areas for improvement or something they could have done differently?

The reports had a great deal of detail but they reviewed with us. They also highlighted significant findings in each category of questions, which was very helpful sharing with our internal team.

BACKGROUND

Please describe your company and your position there.

I'm the Chief Marketplace Officer of a growing fintech firm that is creating a new Marketplace for Small to Mid Size Businesses (SMBs) to connect with curated Service Providers.

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire Lux Insights Inc.?

Our Marketplace version 1.0 is built and launched. We are encouraged by reaction from initial Marketplace participants. However, we hypothesized that certain components of UX were candidates for refinement, and we needed an objective research firm to test (qualitatively) these hypotheses, as well as other thoughts and reactions from Small to Mid Size Businesses.

SOLUTION

How did you select this vendor?

We had been working with a separate, super helpful Marketing Agency, that had the integrity to redirect effort toward Market Research and give a glowing recommendation to use Lux. We trusted that referral, and that trust was reinforced when we met and discussed a potential project with Hanson at Lux - who was immediately impressive, a great listener, and demonstrated quickly an understanding of our company and our requirements.

Describe the scope of their work in detail.

Lux articulated clearly and undertook a scope to collect data from +- 15 SMB senior execs / Owners / CEOs / Presidents re their reactions and potential use of our Marketplace UX. The end to end effort to plan guide discussion, collect data, and analyze outcomes would be just over a month.

The work was qualitative, and involved a discussion Guide with components that Lux had proven in previous research. Our company contributed actively to refinement of this Guide. The majority of respondents would be identified by Lux within Revenue / Industry sector parameters that we supplied. Several respondents, by design, came from our active SMB Member base.

What was the team composition?

The active team was entirely within Lux, led by Hanson and Carmen plus at least two other associates.

RESULTS & FEEDBACK

Can you share any outcomes from the project that demonstrate progress or success?

The directional output is fresh - just 3 calendar days ago as I write this in late June 2022. So - cant provide business metrics that changed. Importantly the work yielded multiple key insights, ideas and opportunities to improve our UX. We are well on the way now to thinking thru a "2.0 level". Importantly the feedback blended some acknowledgment and understanding of what we had built at 1.0, with a direct and clear style of what 'needed to" and what "could be" changed for 2.0 improvement.

How effective was the workflow between your team and theirs?

As a former consultant myself (often delivering this type of project) one of the smoothest, clearest workflows I've been part of. No misses. No delays. They had 100% clear and easy communications, decisions, and refinements.

What did you find most impressive about this company?

How many projects is there virtually 0% variance between expectation and delivery? How often can I say "we got just what we hoped for." I am pleased.

Is there any area for improvement or anything that could have been done differently?

There always is - but nothing jumping right out. I sure hope and plan to work with Lux in the future.

BACKGROUND

Please describe your company and your position there.

I’m the Marketing Insights Manager for our internal marketing department at a regional credit union across four states.

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire Lux Insights Inc.?

We hire Lux Insights every year to preform a market survey to help us evaluate each of the markets we do business in.

SOLUTION

How did you select this vendor?

Lux Insights has been a partner with us for many years now. We haven’t been in the vendor selection process for a survey partner for a long time.

Describe the scope of their work in detail.

Because we been doing this survey with Lux for many years our process requires just a few simple updates each year. Once any updates are made, Lux implements the market survey. The survey asks a range of questions across several dimensions. Once the survey is closed Lux processes the data and provides a detailed analysis of the results.

What was the team composition?

I work directly with a director and a research manager on the survey implementation. The Lux team leads all the heavy lifting.

RESULTS & FEEDBACK

Can you share any outcomes from the project that demonstrate progress or success?

Because our survey is informational, we not specifically looking for increases in a particular metric. We are however looking for that year over year understanding of where we are in comparison to those around us. Getting that look into the market each year is important overall.

How effective was the workflow between your team and theirs?

Working with the Lux team is extremely effective. They know and understand our communication style and plan an efficient schedule that hits the right balance.

What did you find most impressive about this company?

They were very good at providing insights and understanding a large set of survey data.

Is there any area for improvement or anything that could have been done differently?

None.

BACKGROUND

Introduce your business and what you do there.

I’m the CMO of AlgaeCal, and we make plant-based calcium supplements to reverse the impact of osteoporosis and build bone density. We’re a global company located in Canada, but 90% of our sales are in the US. 

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with Lux Insights Inc.?

Because we were located in Vancouver while our market is mainly in the US, we didn’t feel we had a good sense of our overall market and consumer. 

We wanted to validate who we thought our customers were, and we needed help with a consumer insight initiative. This would allow us to understand the customer segments we should target to grow our business. 

SOLUTION

What was the scope of their involvement?

We partnered with Lux to understand the calcium supplement market. They created comprehensive surveys, and we sent the surveys through automated emails. After that, they analyzed the findings and presented their insights to our team.  

Lux then made us understand our market’s size, its subsegments, and who we should target. They also advised us how we should be positioning our brand to grow our revenue in the coming five years. The whole project took about four months to finish.

We’re currently doing a pricing elasticity project with Lux. 

What is the team composition?

I’ve worked with three people regularly. 

How did you come to work with Lux Insights Inc.?

They were referred to me by a former colleague. 

How much have you invested with them?

We’ve spent $150,000 CAD (approximately $117,000 USD). 

What is the status of this engagement?

We started working together in February 2018, and it’s ongoing. 

RESULTS & FEEDBACK

What evidence can you share that demonstrates the impact of the engagement? 

We’ve launched a campaign specifically targeted towards the new segment, and we’ve seen a 30% increase in business over the last three months. I like working with Lux because they’re good at what they do, and they’re strategic. In addition, I’m able to apply learnings from them pretty much immediately, and those have a positive impact on our business. 

Lux is excellent both in understanding data and providing good insights. They’ve brought my company along in the process, so we understand the data science, survey, and questions behind their work. That’s important for me as a CMO since that gives us complete alignment with their output. I’ve previously worked with other agencies that didn’t have that part of the process. 

We’re currently using Lux’s findings to build our brand book, brand guidelines, and overall positioning.

How did Lux Insights Inc. perform from a project management standpoint?

Lux is excellent at project management. They’re detailed in terms of communication, and they’re flexible. They’ve kept the project on time. I have nothing but praise to say about their team and performance, and that’s why I’ve used them on several large projects. 

Throughout the process, Lux has been good at engaging with our team. They’re a great partner for us. I like that I have a direct line to their president. Additionally, I’ve already worked with their team on some projects and feel we work well together. We use Slack and Basecamp to collaborate.

What did you find most impressive about them?

Lux listens to feedback. They do an excellent job of partnering with me to get approval on our projects from our major stakeholders that might not understand the importance of consumer insight. 

Additionally, I like Lux’s size and nimbleness. I can easily choose a much larger consumer insight firm. However, the fact that they’re a small team, yet they’ve taken the time to understand our business has huge implications on the final deliverable. I’ll never use anybody else for my consumer insight needs. 

Are there any areas they could improve?

I can’t think of anything. They’re an excellent team.

Do you have any advice for potential customers?

Be clear with your initial scope and needs. Additionally, be very open and transparent about your business. The more you share with them upfront, the more quickly they’ll understand your business and needs. Adjust your approach and scope of work accordingly.

BACKGROUND

Please describe your company and your position there.

I am a Senior Manager of Analysis & Planning for a global consumer product company.

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire Lux Insights Inc.?

We needed a vendor to plan and execute a periodic tracker that measures consumer KPIs for our product brands.

SOLUTION

How did you select this vendor?

We selected this vendor based on the team of people we would be working with and their demonstrated understanding of our category and what we were looking for.

Describe the scope of their work in detail.

After some discovery meetings to align on deliverables the vendor took ownership of everything from research design through to final reporting and strategic insights.

What was the team composition?

I have worked directly with the president and director of research of the vendor while their project team manages the work directly with my consumer insight analyst.

RESULTS & FEEDBACK

Can you share any outcomes from the project that demonstrate progress or success?

This work has helped us significantly upgrade our ability to measure the consumer journey across our key product platforms. Our internal executive audience also finds the reporting of these KPIs and insights valuable in understanding performance against organization goals.

How effective was the workflow between your team and theirs?

We mostly meet monthly to review results, but the vendor is fine if more regular meetings are needed. There is a healthy and productive line of communication between the vendor and our strategy team. Everything that needs to get done gets done.

What did you find most impressive about this company?

I am most impressed by their ability to maintain high service levels over a number of years, some of which I attribute to how well they manage and grow their people.

Is there any area for improvement or anything that could have been done differently?

I think this company & its people, when invited to do so, have the strategic acumen to go further than collection/reporting of data and really bring research to life for the client by providing further consulting around what to do next.

BACKGROUND

Please describe your company and position.

I am the Brand Director of Pendo

Describe what your company does in a single sentence.

Branding and Creative Services Agency

OPPORTUNITY / CHALLENGE

What specific goals or objectives did you hire Lux Insights Inc. to accomplish?

• Explore and gain a deeper understanding of a particular market
• Identify brand perceptions in the space, motivators and barriers to purchase, customer pain points and opportunities.

SOLUTION

How did you find Lux Insights Inc.?

Lux has been our go to research and insights partner for more than 10 years.

Why did you select Lux Insights Inc. over others?

• Close to my geographic location
• Great culture fit
• Good value for cost
• Company values aligned
• Long-term relationship

How many teammates from Lux Insights Inc. were assigned to this project?

2-5 Employees

Describe the scope of work in detail. Please include a summary of key deliverables.

Market insights including both quantitative and qualitative research.

RESULTS & FEEDBACK

What were the measurable outcomes from the project that demonstrate progress or success?

The project revealed customer insights that shaped the brand positioning and also helped prioritize external messaging.

Describe their project management. Did they deliver items on time? How did they respond to your needs?

Lux is excellent to work with they provide top notch service and always accommodate our project timelines.

What was your primary form of communication with Lux Insights Inc.?

• In-Person Meeting
• Virtual Meeting
• Email or Messaging App

What did you find most impressive or unique about this company?

They are a driven team of researchers who bring new thinking to the table and are creative in their approach.

Are there any areas for improvement or something Lux Insights Inc. could have done differently?

None come to mind.

BACKGROUND

Please describe your company and your position there.

I'm the GM of a member funded society.

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire Lux Insights Inc.?

We were conducting membership surveys for our 3k+ members.

SOLUTION

How did you select this vendor?

Fellow peers across the industry use Lux Insights with positive reviews.

Describe the scope of their work in detail.

Project was designed to understand satisfaction with the Club overall, as well as specific facilities, programs and services. The insights also informed of motivators, barriers to using the facilities, programs and services, as well as insight into capital expenditures, and other initiatives.

What was the team composition?

I worked closely with the senior executive as well as their team of bright, and knowledgeable individuals.

RESULTS & FEEDBACK

Can you share any outcomes from the project that demonstrate progress or success?

Presentation to the membership and management team was very clear and concise. We also have the ability for cross tabulation with all of the detail supporting documentation that was also provided to the team.

How effective was the workflow between your team and theirs?

Communication was fantastic and as frequent as we needed it to be.

What did you find most impressive about this company?

Communication and the ability to summarize lots of data and convert it into useful information were their core strengths.

Is there any area for improvement or anything that could have been done differently?

n/a