The World’s First Cross-Media Measurement Tool for Informing a Brand’s Overall Marketing Effectiveness and Performance Against Key Competitors
Now in market is Mass Minority’s Brand Attraction Monitor (BAM), a first-of-its-kind technology that was created to help brands understand the full impact of a campaign’s effectiveness across a brand’s whole ecosystem in near real time. With this information, an organization can see how their full range of communication efforts are performing against key competitors. BAM measures a brand’s expenditures against the effect on consumer emotion and influence on overall behaviour in-market. This creates a brand attraction score in comparison to key competitors.
Brett Channer, CEO of Mass Minority – the data analytics company behind BAM – notes, “Other major marketers, like Unilever, are declaring they are going to build a tool that measures performance across media channels to better understand their overall marketing efforts which will better inform their ROI. This is to announce, we’ve already built it, and we’re using it in market today.”
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This was an ambitious project, spanning over three years, with a team that included mathematicians, data scientists, business analytics and advertising practitioners, along with millions of dollars in investment. The Brand Attraction Monitor is now a patent- pending product in-market. It is currently being used by leading edge brands seeking accountability and a better understanding of their overall in-market performance to drive attraction and increase sales.
Using billions of data points from a range of media channel inputs that include paid mass and digital media, social channels, sentiment scores, search, keyword and advocacy metrics, the BAM’s patent-pending algorithm uses a proven weighting system to evaluate the cumulative effect of a brand’s performance by channel. Also, BAM shows how these specific data points affect one another in influencing the behaviour of the consumer in comparison to category norms and key competitors.
While only monitoring the USA and Canada, the plan is to roll it out globally over the next eighteen months. Currently, the data set is based on eight information channels, but BAM has the ability to expand, with a plan to make a thirty-channel system available as the needs to monitor the expanding fragmentation of social and digital channels becomes even greater for marketers. Mass Minority has also created a universal plugin to normalize sales and promotion data, so clients can enjoy a single dashboard that examines all marketing channels in relation to promotion and sales/basket data.
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“This single technology breakthrough is what will increase the value of marketing leaders by empowering them with KPIs the CEOs can align to and be a part of,” Channer adds.
The Brand Attraction Monitor (BAM) is available now on a monthly or quarterly subscription basis across North America. The custom sales monitoring plugin is also available on a per client basis.
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