Mindshare, the global media agency network, has launched 'The Loop' which reinvents media strategy and decision making by harnessing live data feeds to inform collaborative and adaptive decision making at every step of the marketing process, from planning to execution, across paid as well as owned and earned media.
To help power collaborative marketing decisions using The Loop, Mindshare is leveraging its existing partnership with Twitter to provide Twitter Live Studio services for select clients in Loop markets.
Ashutosh Srivastava, chairman, Asia and CEO, emerging markets group at Mindshare, says, "The Loop will bring about radical changes in the way Mindshare can work with marketers, their agencies and other open source partners. It's a transformative step for our business and makes a data-driven, adaptive approach to marketing a reality. For the first time, brand marketers will be able to track consumer response and competitive moves, and adapt the usage of media channels and the content based on this data, in near real time. We are looking forward to our clients adopting this approach in a big way. We are kicking off first in Delhi with the IPL for Pepsi. Singapore and Shanghai will follow shortly. Based on client response we will take it to more markets in the coming months."
Nick Emery, global CEO, Mindshare, states, "The Loop is different because it's about cultural change, not data trawling. It drives a change in working practices that in turn drives behavioural change, both for our clients' consumer relations and also how we work across client agency networks to create one focussed team working adaptively, reacting live and seeing trends ahead of the competition."
The Loop has two modes - 'strategy' and 'campaign'.
In 'strategy mode', it enables collaborative and adaptive decision making through the mixing of fast and slow data across a spectrum of different disciplines, including business planning, strategy, creative and communications planning and across client agency networks.
In 'campaign mode', Mindshare takes third party data feeds and tools and combines them with industry-leading proprietary media spend, performance tracking and intelligence systems, to provide instantly actionable insight that can be executed in real time across paid media, all backed up by the power of Twitter data.
The Loop is also used to track competitor efforts in paid, owned and earned media, as well as provide intelligence on trending and viral news, videos and pictures, enabling instant decision making.
It includes multiple screens monitoring data from over 100 sources in real-time. Data partners are defined on a market by market basis. In the US launch market, data partners include, but are not limited to:
Ace Metrix - Measures effectiveness for every ad in real time, by bringing digital technology, analytics, and speed to TV and digital video commercial reporting.
Moat - Real time digital advertising intelligence platform that provides insights for advertisers, publishers and vendors in the digital advertising ecosystem.
Curalate - Measures earned and owned interactions with a brand's visual assets across social channels to identify imagery that resonates with consumers allowing brands to optimise social engagement, deepen brand loyalty and drive revenue.
The Loop has already been successfully deployed across Mindshare North America, with clients including Unilever and Jaguar taking advantage of the 'war room' to plan and optimise their Super Bowl advertising investments.