Insight Exchange by L.E.K. Consulting: Recent Episodes
L.E.K. Consulting
Join us as we swap ideas with thinkers, innovators and doers from around the world and around L.E.K.
Presented by consulting powerhouse L.E.K. Consulting (www.lek.com), Insight Exchange™ is a new forum dedicated to the free and open exchange of the most interesting, important, and urgent ideas in the world of business. From the farthest-reaching environmental issues to innovations in retail, industrials, and healthcare, every installment of Insight Exchange™ invites luminaries to tell us what they’re working on, what they’re worried about, what they’re excited about, and what’s coming next.
Join us on an intrepid journey of discovery as we take nothing for granted, pull no punches, and follow the research no matter where it leads. In its 30+ year history, this is what L.E.K. has done better than anyone in the world. And that’s why Insight Exchange™ is the podcast only L.E.K. could have produced. If you’re a growth investor, an advanced student, an employee, a researcher, an executive, an entrepreneur, an inventor, or a board member, we invite you to join us for Insight Exchange™. If you’d just like to keep your finger on the pulse of what’s happening in business, retail, education, healthcare, industrials, energy, media, or life sciences, we invite you to join us for Insight Exchange™
In today's episode, we dive deep into the world of gene therapies. Our host, Matt Mancuso, Managing Director and Partner at L.E.K. Consulting's Boston office, is joined by a panel of experts including Ellen Licking, Vice President of Consulting Services and Communications at Real Endpoints; Alex Guth, Managing Director at L.E.K.'s Boston office; and Roger Longman, Chairman of Real Endpoints. Together, they explore the challenges and opportunities surrounding the commercialization of and the access to gene therapies.
From the importance of patient support and access to care to the evolving landscape of value-based agreements, our guests share valuable insights during thought-provoking discussions from a recent gathering of key stakeholders in the gene therapy market. They cover topics such as the impact of combination therapies on efficacy evaluations, the need for infrastructure to enable data sharing, and the potential for risk-sharing structures to address uncertainties in gene therapy outcomes.
Through these conversations, they shed light on the current state of gene therapies, the hurdles that exist in their commercialization, and the innovative strategies being employed to overcome these obstacles. Join us as we explore the intricacies of gene therapies and gain a deeper understanding of the future possibilities and challenges that lie ahead.
Connect with our experts on LinkedIn:
Matt Mancuso: https://www.linkedin.com/in/matthewmancusophd/
Ellen Licking: https://www.linkedin.com/in/ellenlicking/
Alex Guth: https://www.linkedin.com/in/alex-guth-phd/
Roger Longman: https://www.linkedin.com/in/roger-longman-16ba079/
Visit L.E.K. Consulting at https://www.lek.com/
As any subscription-based business knows, customer churn can be a major brake on growth. Not only can replacing customers be expensive and challenging — a common rule of thumb is that acquiring a new customer costs five times as much as keeping an existing one — but it can be even harder to cross-sell/upsell new customers.
That’s why growth-minded businesses place extra emphasis on customer retention and existing account monetization. While many organizations have a good grasp on how they perform on retention or cross-selling/upselling, a key challenge is knowing when a customer is likely to take action so you can respond accordingly.
Real-time, predictive analytics can be the answer to minimizing attrition, maximizing cross-selling/upselling and ultimately driving significantly improved revenue metrics.
In this episode, we will discuss:
- How churn and cross-selling/upselling affect net revenue retention
- Foresight on customer behavior
- Building intervention events to change outcomes
- How to overcome data silos for greater insight
- Improving your customer retention and profitability
To provide insights into these topics, Ben Sher, Engagement Manager at L.E.K. Consulting’s San Francisco office, talks with Dominic Perrett, Managing Director at L.E.K.’s San Francisco office, and Nick Barker, Director and Head of Data and Analytics for North America at L.E.K.’s Boston office.
Connect with our experts on LinkedIn:
Ben Sher: https://www.linkedin.com/in/benjaminsher/
Dominic Perrett: https://www.linkedin.com/in/dominic-perrett/
Nick Barker: https://www.linkedin.com/in/nick-a-barker/
Visit L.E.K. Consulting at https://www.lek.com/
In today's episode, we dive into the world of organization and performance. We'll explore the crucial role of governance, the importance of collaboration with subject matter experts and lower-level employees, and the significance of clearly-defined roles and responsibilities.
We start by examining governance and how it goes beyond simply determining who should be in charge. Our experts emphasize the need for leaders to take accountability and actively participate in the work. We also explore the role of collaboration with subject matter experts and lower-level employees in creating a robust plan.
Roles and responsibilities play a vital role in organizational success, and we discuss the importance of clearly defining them, including leadership and critical roles. Transparency, accountability, and agility are key principles for effective governance.
We also emphasize the importance of proper governance for implementing cost-reduction strategies. We highlight that swift action is needed, but progress must be meticulously tracked and reported to uphold accountability. Key success factors for sustainable indirect cost reduction are unveiled, including executive leadership sponsorship, incentive alignment, cost transparency, and the involvement of subject matter experts.
Lastly, we confront the challenges presented by rising inflation, and the need for alternative strategies in industries facing regulated pricing environments.
Join us as we explore the crucial topic of organization and performance, discussing the importance of governance, collaboration, and benchmarks. Together, with Katya Zubareva, Partner at L.E.K. Consulting's London office, Jean-Philippe Grosmaitre, Partner at L.E.K. Consulting's Paris office, Philip Roux, Partner at L.E.K. Consulting's London office, and Tom Marshall, Principal at L.E.K. Consulting's London office, let's unpack the strategies, insights, and actionable steps needed to optimize organization and performance.
Connect with our experts on LinkedIn:
Katya Zubareva: https://www.linkedin.com/in/katyazubareva/
Jean-Philippe Grosmaitre: https://www.linkedin.com/in/jean-philippe-grosmaitre-aa7aa9/
Philip Roux: https://www.linkedin.com/in/pgdroux/
Tom Marshall: https://www.linkedin.com/in/tom-marshall-1078671b/
Visit L.E.K. Consulting at https://www.lek.com/
In this episode, we’ll explore the categories of solutions in the data and analytics (D&A) value chain and the crucial role of cloud data storage in modern D&A ecosystems. We’ll examine the different tools and processes involved in each category of the D&A value chain, from data integration and processing to analytics and visualization. Additionally, we’ll uncover the differences between legacy and modern D&A infrastructure solutions, highlighting the advantages of modern solutions such as flexibility, scalability and improved data governance. You will discover the benefits of implementing a modern D&A infrastructure, including enhanced decision-making, increased efficiency and improved customer experiences through personalized interactions. We’ll also discuss the core shifts driving the move toward modern D&A architecture and the key growth areas within the D&A value chain. We’ll shed light on the competition between Snowflake and Databricks, two leading players in the market, and explore the factors driving the market growth of both solutions. Lastly, we’ll discuss the level of competition between Snowflake and Databricks and the reasons for customer migration to Snowflake.
To provide insights on these topics, we will hear from Harsha Madannavar, Managing Director and Partner at L.E.K. Consulting’s San Francisco office; Dominic Perrett, Managing Director at L.E.K. Consulting’s San Francisco office; Jordan Barron, Managing Director and Partner at L.E.K. Consulting’s Los Angeles office; and Marco Cataluffi, Consultant at L.E.K. Consulting’s Los Angeles office.
Connect with our experts on LinkedIn:
Harsha Madannavar: https://www.linkedin.com/in/hmadannavar/
Dominic Perrett: https://www.linkedin.com/in/dominic-perrett/
Jordan Barron: https://www.linkedin.com/in/jordanbarron/
Marco Cataluffi: https://www.linkedin.com/in/marco-cataluffi-61536bb5/
Visit L.E.K. Consulting at https://www.lek.com/
The connected home ecosystem comprises an estimated 1.8 billion smart devices, and that number is climbing. In this episode, we’ll explore ‘The Connected Home: Can Your Company Plug Into Opportunity?’ In L.E.K. Consulting’s recent survey, 89% of current connected-product owners had considered purchasing a connected device within the past year. Moreover, 60% of current connected-product nonowners also had considered purchasing a connected device. Depending on the product, search volume for key connected products increased two to three times from 2017 to 2022. And despite variations in the speed of penetration growth, most third-party forecasts expect increases of more than 20% over the next five years or so. Factor in the new Matter standard that enables greater interoperability, and this presents an obvious growth opportunity for an array of prospective players. These include members of the investment community and players within industries that have an organic connection to the space across seven basic categories.
In this episode, we will discuss key topics including:
- How, driven by more engaged homeowners and more affordable, better-performing, easier-to-use technology, the connected home ecosystem continues its rapid growth
- Why choosing the right path is critical so that every player will succeed in this transforming world
- How companies can determine whether they have a role in the connected home and, if so, what that role is
- Why companies need to determine whether they will be orchestrators or enablers
To provide insights on these topics, we will hear from Paul Bromfield, Managing Director and Partner at L.E.K. Consulting’s New York office; Gavin McGrath, Managing Director and Partner at L.E.K. Consulting’s Boston office; and Corey Highfield, Principal at L.E.K. Consulting’s Boston office.
Connect with our experts on LinkedIn:
Rob Haslehurst: https://www.linkedin.com/in/haslehurst/
Paul Bromfield: https://www.linkedin.com/in/paulbromfield/
Gavin McGrath: https://www.linkedin.com/in/gavinmcgrath/
Visit L.E.K. Consulting at https://www.lek.com/
Consumer businesses have faced dramatic increases in input costs over the past 24 months, primarily due to the lingering impact of COVID-19. To avoid profit erosion, most businesses responded by passing cost increases on to consumers in the form of higher prices. But consumers, concerned with a potential recession, are adjusting their spending habits. With the worst of inflation hopefully behind us, now is the perfect time for business leaders to reflect on their 2022 pricing actions and consider a holistic reevaluation of their pricing strategies in light of current market conditions. As consumers are forced to stretch their dollars, companies can drive value by reassessing their pricing strategies to make them more reflective of the current macroeconomic environment. Business leaders should begin by reviewing pricing principles and considering how to make pricing a strategic lever that drives revenue and margin growth.
In this episode, our experts will discuss:
- Why pricing is important for your business
- The benefits and importance of value-based pricing
- Evaluating benefit/trade-off features and how it informs strategic decision making
- The best practices to adopt to optimize promotional effectiveness
To provide insights on these topics, we hear from Rob Haslehurst, Managing Director and Office Head of L.E.K. Consulting’s Boston Office; Alison Schilling, Managing Director and Partner at L.E.K. Consulting’s Chicago Office; and Claire Morgan, Managing Director and Partner at L.E.K. Consulting’s Boston Office.
Connect with our experts on LinkedIn:
Rob Haslehurst: https://www.linkedin.com/in/haslehurst/
Alison Schilling: https://www.linkedin.com/in/alison-schilling/
Claire Morgan: https://www.linkedin.com/in/claire-morgan-37596734/
Visit L.E.K. Consulting at https://www.lek.com/
Three decades of historically low inflation have left many businesses without the experience or capabilities to navigate the changing economic paradigm. In recent months gas, wheat, corn, and other essential food ingredients have risen by over 100%. Key manufacturing commodities have fared a little better with copper, aluminum, and others experiencing increases of over 60%. Add in demands for wage increases across the globe, and it is hard to imagine any business avoiding today’s inflationary pressures.
On today's episode Aubry Pierre, Partner in L.E.K. Consulting's London office, talks with both Jean-Philippe Grosmaitre - Partner in L.E.K. Consulting's Paris office and Claudio Molinaro - Partner in L.E.K. Consulting's Paris office. The three discuss the causes of today's rapidly rising costs, the impact on business, and how winning companies are using key levers to thrive despite inflationary pressures.
Connect with our experts on LinkedIn:
Aubry Pierre https://www.linkedin.com/in/aubrypierre/
Jean-Philippe Grosmaitre https://www.linkedin.com/in/jean-philippe-grosmaitre-aa7aa9/
Claudio Molinaro https://www.linkedin.com/in/claudio-molinaro-93a282/
Visit L.E.K. Consulting at https://www.lek.com/
Rapid changes in the health and wellness marketplace are being driven by evolving consumer needs, new product innovation, and competition from new entrants in this market.
In today's episode, Noor Abdel-Samed, Joe Johnson, Todd Clark, and Kevin Grabenstatter discuss the new and effective strategies needed to make the difference between survival and success in the Health and Wellness space.
Connect with our experts on Linkedin:Noor Abdel-Samed https://www.linkedin.com/in/noorabdelsamed/
Joe Johnson https://www.linkedin.com/in/josephjohnsonlek/
Todd Clark https://www.linkedin.com/in/toddclarklek/
Kevin Grabenstatter https://www.linkedin.com/in/kgrabenstatter/
Visit L.E.K. Consulting at https://www.lek.com/
The Women’s Health space is currently firmly in the spotlight and undergoing deep transformation, spurred by ‘FemTech’ entrants that are innovating on traditional standards of care, through new medical devices, care delivery models, and community-building platforms that are often digitally enabled.
Traditionally, women’s health has been a highly underserved area within healthcare due to endemic issues in healthcare delivery and research – for example, the CDC reported maternal mortality rates in the US continue to increase, particularly among BIPOC women, and late-stage clinical trials were only mandated to include valid analyses by gender as of 2017.
FemTech offerings are directly improving upon traditionally unmet, highly important needs within women’s health including greater care access, better therapeutic efficacy, enhanced information curation, and holistic mental health support. For the first time, services and solutions are being developed to specifically cater to women’s unique needs.
In this episode, both Sheila Shah, Managing Director of L.E.K.’s Consulting office in Chicago, and Candace Nagaraja, Engagement Manager of L.E.K. Consulting’s MedTech practice, profile four FemTech companies and discuss how they are delivering on the unmet needs within women’s health - and how their business models poise them to drive sustained change moving forward. We hope this session helps shine light on some of the really fascinating innovations occurring in the Women’s Health space and others can be further inspired to join us in this cause towards improving female health.
Connect with our experts on Linkedin:
Sheila Shah https://www.linkedin.com/in/sheilashah/
Candace (Tkac) Nagaraja https://www.linkedin.com/in/candace-nagaraja/
Visit L.E.K. Consulting at https://www.lek.com/
Recent partnerships between alcoholic and non-alcoholic beverage producers have bridged across traditional category lines.
Traditionally there was a divide between non-alcoholic beverage producers dipping their toes in alcoholic beverages and vice versa, but that barrier has begun to erode and largely break down over the past 1-2 years due to shifts in consumer demand.
Today we discuss how the blurring of beverage categories is forcing leading beverage manufacturers to evolve their business models.
Topics discussed:
- How recent partnerships between alcoholic and non-alcoholic beverage producers have bridged across traditional category lines
- What motivates beverage producers to explore expanding into non-alcoholic categories
- The driving forces behind the expansion on the non-alcoholic beverage side
- Challenges non-alcoholic beverage companies need to manage as they expand into bev-alc
- What drives beverage producers' different paths to enter the bev-alc space
- Which producers are participating in this recent category blurring and if they facing any challenges in evolving their business models
- The long-term implications are for these trends
Connect with our experts on Linkedin:
Claire Davies https://www.linkedin.com/in/claire-davies-00145b8/
Rob Wilson https://www.linkedin.com/in/robertwilsonlek/
Charles Meade https://www.linkedin.com/in/charlesmeade/
Visit L.E.K. Consulting at https://www.lek.com/
Defining an effective sustainability strategy is the new key to corporate success. Join the team from the L.E.K. Sustainability Centre of Excellence for a Q&A session to learn about the findings from L.E.K.'s Global Corporate Sustainability Survey, and discover how placing sustainability at the heart of strategy, and ensuring leadership are aligned behind your sustainability vision could be the secret to long-term growth for your organisation. Join John, Kathryn and David as they discuss the results of the survey and also answer your questions.
You will learn about key issues and how consultants can help, including:
- Strategic alignment
- A seat at the boardroom table
- Balancing short and long-term priorities
- Setting the right KPIs
- Aligning incentives
Download the 2022 L.E.K. Global Corporate Sustainability Report here:
https://info.lek.com/sustainability-report
Connect with our experts on Linkedin:
David Titus https://www.linkedin.com/in/davidtituslek/
John Goddard https://www.linkedin.com/in/johnigoddard/
Kathryn Robertson Arrebola https://www.linkedin.com/in/kathrynrobertsonarrebola/
Visit L.E.K. Consulting at https://www.lek.com/
Already exceeding more than $4 trillion annually, U.S. healthcare spending continues to grow faster than the rate of inflation. Healthcare providers and other stakeholders have been challenged as never before to find ways to meet care needs for a nation experiencing an ongoing pandemic, as well as manage unprecedented workforce shortages.
A wave of unconventional dealmaking has seen traditional healthcare players expand their offerings even as nontraditional companies enter the space.
Today’s episode will cover 5 key areas:
- Unprecedented staff shortages
- Rise in unconventional partnerships and acquisitions
- Increased adoption of value-based care beyond primary care
- Continued growth in home- and virtual-based models
- Adoption of real-time clinical data solutions
Today we are joined by Wiley Bell, Andrew Garibaldi, Joseph Johnson, and Andrew Kadar to discuss how Key Healthcare Services are impacting the industry.
Manufacturing is never simple, but it’s rarely been as hard as it was in 2021. The year began with optimism as COVID-19 vaccines became widely available in the U.S.; people began returning to more-normal lives and economic activity rose.
That optimism was short-lived as the stresses of the past two years ravaged the supply chain-denying automakers and consumer electronics makers the chips needed to finish products, delaying arrivals of products from overseas as ships waited to unload goods at overcrowded ports, and forcing consumers to select Option B, C or D when their first choices weren’t available.
In early 2022, IndustryWeek and L.E.K. Consulting partnered together to survey manufacturers to ask how they’re doing it all. The results are available in a research report, and today’s episode will cover 4 themes from the broader findings:
- Labor shortages
- Supply chain risks and rising input costs
- Rising shipping and warehouse costs
- Technology investments
Today we are joined by Eric Navales and Darren Perry to look at how manufacturers are surviving.
Outsourcing the collection of defaulted unsecured consumer debt from lending, insurance, utilities, and telecoms is a well-established industry in Europe.
But the industry is on the cusp of disruption. New tech-based collections firms have emerged in Europe in the last few years and built increasingly attractive, viable businesses off the back of the internet-based products and digital services explosion.
In this episode, we discuss the current market and key considerations for the incumbent debt management firms and industry investors to think about as they appraise their strategies in response to the rise of the challenger brands. Today we are joined by LEK partners Eilert Hinrichs and Peter Ward.
Methane emissions are heavily concentrated in oil and gas, which has prompted changes in upstream processes and investment in new technologies.
In this episode, we discuss the size of the problem that methane emissions present in the oil and gas sector. We discuss measures that companies are taking to account for managing today's methane emissions as well as the challenges in reduction.
Finally, we'll cover where there are opportunities for investing in the market.
Today, you will be hearing from Franco Ciulla, Nilesh Dayal, and Amar Gujral, all Managing Directors in our L.E.K. Consulting Houston office. They all specialize in Energy and Decarbonization and will give you their insights here on The Insight Exchange.
The insurance industry isn’t known for its early embrace of technology, however, that is changing. We are going to take a look at three market trends that are prompting the industry to make a change.
Today, in this episode, we welcome Gigi Wong, Alex Evans, and Noor Abdel-Samed from L.E.K. Consulting to discuss three of the areas seeing a large impact.
The insurance industry isn’t known for its early embrace of technology. As the industry continuously faces enormous challenges, technology is driving change.
In this episode, we’ll discuss how a U.S. InsurTech CEO founded her startup business as she takes us through the journey of successfully breaking the mold of a typical insurance model. You will hear from Joyn Insurance CEO and co-founder Seraina Macia. Your host for this episode is L.E.K. Consulting’s Justin Balcombe. Justin co-leads L.E.K.’s Insurance practice and has over three decades of experience in the insurance industry.
When it comes to improving patient care, Social Determinants of Health (SDOH) solutions continue to be top of mind as the pandemic continues to grip the world. Healthcare organizations all over the US continue to grapple with ways to extend the care of patients beyond the walls of clinics and hospitals.
In this episode, we hear from Matt Sabbatino, Managing Director in L.E.K. Consulting’s Healthcare Services practice. He provides insights into what has happened with SDOH services during the pandemic and what the outlook is for the future.
As a substitute for animal meat and dairy products, the evolution of plant-based protein has been rapid. Two years ago, the prevailing question about the category was “Will it last?” Today, the questions for many companies and investors are both “How big can it be?” and “How do we participate in this space?”
In this episode, we’ll discuss how companies participating in the plant-based protein revolution are focused on product improvements. You’ll gain insights into how the momentum in this space presents multiple opportunities for companies and investors.
You'll hear from the following L.E.K. Managing Directors:
- Jen Wu, a member of the firm's Retail and Consumer Products practice, where she has deep expertise in food and beverage growth strategies and M&A
- Rob Wilson, who specializes in L.E.K.'s Consumer Products sector with a more specific focus on the Food and Beverage practice
- Maria Steingoltz, Head of L.E.K. Consulting’s Chicago office; she works in the retail consumer sector with a special focus in food and beverage, as well as beauty and personal care
The confluence of several key trends in U.S. healthcare, including an aging population, shifts away from inpatient care, and a rise in healthcare consumerism has led to an increased emphasis on post-acute care, particularly care that permits aging in place.
In this episode, we’ll get insights regarding opportunities for health systems and investors within post-acute and end-of-life care from both Kevin Grabenstatter, Managing Director and Partner in L.E.K. Consulting’s San Francisco office and Rozy Vig, Principal in L.E.K.'s Healthcare Practice.
The consumer packaged goods (CPG) industry faced several major challenges in 2021. However, the industry seems to be weathering the COVID-19 pandemic, and CPG companies’ spend on packaging is no exception — with spending on packaging continuing to increase in line with long-term trends across a range of brand product categories.
To better understand how brand owners' packaging needs are evolving — and the implications for the industry and investors — L.E.K. Consulting conducted its fourth annual brand owner packaging study in the summer of 2021.
In this episode, L.E.K. Partners Thilo Henkes and Jeff Cloetingh discuss some of the insights that were revealed.
If you would like to learn more or request access to the full 2021 Brand Owner Packaging Study, please contact us at industrials@lek.com
Read L.E.K. Consulting's Executive Insights for more.
The COVID-19 pandemic has ushered in a series of fundamental challenges to the U.S. economy. Like the great financial crisis of 2007-08, it has reshaped the landscape of consumer lending, but in a very different way. During the COVID-19 pandemic, individuals have curtailed their spending amid layoffs, while the federal government has injected billions of dollars back into the economy in the form of stimulus checks. Ecommerce was a key beneficiary, and it looks like newly established purchase pathways are here to stay.
In this episode, we discuss COVID-19 Recovery Opportunities in Consumer Lending with our panel of expert consultants. We hear from Robert Haslehurst, Managing Director with a focus within LEK’s Retail and Consumer Products practices. Also, Peter Ward, an LEK Partner focused on corporate strategy development who has worked on a diverse set of consulting projects across the technology, financial service, and consumer product industries.
Follow this link to download the detailed Executive Insights from this conversation.