MUMBAI: Nielsen and McKinsey have announced a global joint venture, NM Incite, to help leading companies harness the power of social media intelligence to drive superior business performance.
NM Incite gives companies the capabilities to better understand, value and take advantage of the rich insights made possible by social media.
M Incite looks to build upon social media and online brand metrics, consumer insights and real-time market intelligence of Nielsen BuzzMetrics to transform business operations including product development, marketing, communications and customer service. With the creation of this new venture, BuzzMetrics becomes wholly part of NM Incite.
Nielsen CEO David Calhoun says, “Our venture with McKinsey will extend our ability to help clients answer one of the central questions facing CEO’s, how to unleash the promise of social media,” said . “Our clients want to take full advantage of what is possible. NM Incite will fuse social media with the enterprise, creating new opportunities, efficiencies and competitive advantage.”
McKinsey is contributing client capability building and expertise in the areas of marketing and sales, organisation and service operations. McKinsey serves multiple clients and has developed proprietary knowledge and distinctive insights in areas such as digital marketing, marketing ROI, word-of-mouth marketing and consumer purchase behaviour.
NM Incite advises senior executives and delivers measurement, tools and new processes to drive organizational transformation. Working together with select pilot clients, NM Incite is developing its first three solution areas, expected to be available this fall. The initial areas of focus are measuring and improving marketing effectiveness, product launch optimization and customer service experience.
McKinsey global MD Dominic Barton says, "As our clients’ needs evolve, so our firm continuously innovates in the way we work.
"Social media is an increasingly critical issue for business leaders and an area of untapped opportunity for many of our clients. This joint venture will equip institutions with real-time insights to help their leaders drive better results."
NM Incite will work with the expansive ecosystem of interactive, marketing and strategic communications firms and other technology and social media companies to implement client solutions, help shape future offerings and develop new metrics.
