New York firm NewMediaMetrics is trying a new strategy to provide Clients with consumer data and insights. Basing their model on methods from a 1930’s research study, they have been gathering data for the past 3 years on consumer groups and their emotional attachment to brands, television networks and specific television programs. According to an article in Brandweek, they now have more than 120 brands in their database, from banking to fast food to insurance companies, all linked to media properties and prime-time shows. Their data can be used for new product development, sales and merchandising strategies, identifying effective messaging and media planning. For some clients, it has also been a helpful tool in approaching potential advertisers.
Are you a fan of the Discovery Network? If you are, according to their data, you are 47% more likely to purchase Dasani bottle water than the typical Dasani consumer. Loyal to Yahoo!? Then you are 45% more likely than the average consumer to purchase Motorola products. These are just a few, and of course not everyone will fall in line with their results. I typically enjoy programming on NBC, but I can’t say that I’m a fan KFC (another correlation from their data).
In addition, NewMediaMetrics has used its data to predict the successes (and failures) of new television programs.
Rather than making assumptions based on general demographics, they are working to understand audiences better and use their data to predict future habits. If their data is right, it could certainly help advertisers spend more efficiently and effectively to reach the most loyal of their customers with their messages. And it gives media outlets insights on who their biggest users are. Interested in more information? Check out their site at www.newmediametrics.net.
Sara Wojdacki (Armour in 4 months!)