Overview and Contributions
Monica Wood is a leader in the field of market insights, where her reputation for providing new methods and championing best practices has been a hallmark of her career. Her commitment to transformative business insights and methodological rigor have resulted in innovations that have changed the industry and earned her leadership spots in many of its professional associations.
Monica’s contributions to the industry have been numerous; however, one of her key legacies will be her 1989 work with Nielsen, when she designed the first-ever industry Marketing Mix Model, allowing insights professionals to estimate the past impact and predict the future impact of various marketing tactics on sales. Prior to the creation of this model, marketing spend and bottom line were often perceived as disconnected; with the Marketing Mix Model, professionals could show clear ROI for their efforts.
Throughout her career, Monica’s insights work has transformed product categories. Among the highlights:
- Her work for Campbell Soup was documented in Malcolm Gladwell's 2009 book, What the Dog Saw. In his New York Times bestseller, Gladwell documents Monica’s work driving the reinvention of the Spaghetti Sauce category in partnership with Howard Moskowitz.
- Monica’s category-changing insight work for Campbell’s also resulted in the company seeing the first increase in per capita soup sales in 25 years.
- On behalf of Advil, Monica’s research found that the new liquid gel product form had the most positive associations with fast action among consumers, resulting in a substantial increase in product sales; the liquid gel segment is now the largest within the analgesic category.
Monica has been a leader in advertising and copy testing throughout her career. Through her significant work in this arena working with companies such as ARS, Ipsos and others, she was able to break through the clutter with award-winning advertising leading to double-digit sales including well-known brands such as V-8, Benefiber, Campbell's Soup, Advil, Centrum and many others.
Monica has advised many Fortune 100 elite corporations during her extensive career, and has earned recognition as one of the leaders in the field for her work with some of the world’s best known brands. As a result of her visionary work, numerous achievements and impressive results, Monica “had the ear” of the CEO’s, who viewed her as a trusted advisor and key asset.
In her work for Herbalife Nutrition, where she is currently the Vice President, Global Consumer and Member Insights, Monica is responsible for building the insights function from the ground up, creating best in class practices globally and moving the company towards a more customer-centric model.
Prior to joining Herbalife, Monica was the President of Monica Wood and Associates where she partnered with leading pharmaceutical and CPG clients to develop outstanding solutions and actionable, insightful research deliverables.
Prior, Monica was Vice President Global Marketing Services at Novartis. She was responsible for all global interactive marketing activity, media spending analytics, syndicated and custom market research for Novartis Consumer Health.
Prior to joining Novartis, Monica was Vice President Consumer Insights and Strategy planning at ToysRUS. In that role, she created the insights and strategy group and had full global responsibility for insight and strategy work for ToysRUS and BabiesRUS.
Prior to ToysRUS, Monica was EVP of Edelman Public Relations. There she founded StrategyOne, their internal insights and strategy department. Among her other accomplishments, she lead the development of one of the first 360 media tracking systems.
Before that, Monica was with Wyeth, where she was Vice President, Market Research, for Consumer Health. Monica led the research function for such well-known Wyeth brands as Advil, Robitussin, and Chapstick. Amongst her accomplishments, Monica created global standards, processes and best practices for new product development, copy testing and tracking. Through her leadership and insight work, Advil was repositioned from a "body pain brand" to an "every day pain" solution, resulting in a significant growth in revenue.
Professional Memberships, Awards and Recognition
Within the industry as a whole, Monica has built strong collegial relationships with her peers via her contributions to professional associations. She is a member of the University of Miami Herbert Business School Entrepreneurship Advisory Board, as well as for the Market Research Council. She is past president of the Market Research Council and is currently the Chairman of the Industry Research Committee for the Direct Selling Association, Monica is on the board of other organizations including the Ad Council Research Advisory Board and the Market Research Council. She has been Vice President of the South Florida American Marketing Council as well as President Elect, and has served on the ARF Leadership Council.
Wood’s research has also garnered industry recognition in the form of professional awards. Most recently, in 2017, Wood was honored by the Direct Marketing News where she was awarded “Woman to Watch” in Marketing. Her work for Herbalife Nutrition on revitalizing online sales through optimized lead generation received a 2017 Bronze David Ogilvy Award. In 2019 her team at Herbalife Nutrition won a Quirk’s award for Marketing Research and Insight Excellence as Client Side Team of the Year. In 2020, her team won a second David Ogilvy Bronze in the category of Health & Personal Care for its Healthy Breakfast study and was a finalist for the Market Research Society’s award for In-House Team of the Year.
In 2021, Monica was named as a finalist for the American Marketing Association’s Charles Coolidge Parlin Award, the organization’s oldest and most distinguished award. The Parlin Award is given to leading practitioners and scholars who have demonstrated outstanding leadership and sustained impact on advancing the evolving profession of marketing research over an extended period of time.
Her work for Campbell’s received a Gold David Ogilvy Award as well as a Gold Effie Award. Her work for Novartis earned a Silver David Ogilvy Award.
Monica went to University of Miami receiving her MBA Magna Cum Laude in Marketing and University of Florida, Magna Cum Laude.