MEC Velocity predicts how consumers shop
25 June, 2015
MEC BECOMES FIRST MEDIA AGENCY TO INTRODUCE PREDICTIVE MODELLING TECHNIQUES TO STRATEGIC PLANNING
— MEC, www.mecglobal.com, a leading global media agency, today unveils MEC Velocity, a new predictive modelling technique borrowed from epidemiology to create purchase journey simulations and predict consumer behaviour and interactions with brands.
MEC Velocity builds on MEC Momentum, the agency’s proprietary approach to understanding and quantifying how consumers make purchase decisions, launched in Cannes two years ago.
MEC Momentum is the largest global study ever undertaken into the shopper journey and the psychology of choice, examining the purchase decisions of over 200,000 consumers to date.
The scale of data from MEC Momentum has enabled the media agency to be the first to introduce advanced Agent Based Modelling techniques into its strategic planning. Unlike traditional marketing models, Agent Based Modelling uses a bottom up approach where every consumer has different rules, intentions and beliefs and where they are able to interact and influence each other, an element completely absent in predictive models up until now. This is particularly powerful for campaigns that encourage engagement, drive word of mouth or use social media.
With MEC Velocity, the agency is able to build simulations that run into the future, predicting consumer behaviour and interactions with brands and services, and the impact on sales and market share in a category. The agency can then simulate experiments, by changing key metrics or campaign engagement, to see how fast and by how much they will affect consumer behaviour and then sales.
James Northway, Head of MEC Analytics and Insight EMEA, said: “With MEC Velocity we’ve taken the leap into predictive marketing and given our clients access to a new way of thinking and planning that will have an enormous impact on their advertising, brand and business growth.
The beauty of MEC Velocity is that as we, thanks to the increasing number of MEC Momentum studies, add more rich data sets to our model, we become more and more accurate in our predictions.”
MEC Momentum and MEC Velocity is continually updated to provide clients with the very latest insight and can be deployed for bespoke projects delving into specific industry sectors and territories.
We help clients explore what’s possible, inspiring and guiding them to the optimum solution for their brands. Then we exploit it, delivering maximum value to them. Our services include: Media planning and buying ~ Digital media ~ Mobile ~ Search ~ Performance marketing ~ Social media ~ Analytics and Insight ~ Sport, Entertainment & Cause ~ Multi-cultural ~ Content ~ Retail ~ Integrated Planning. Our 4,500 highly talented and motivated people work with domestic and international clients in 84 countries and we are a founding partner of GroupM. To find out more, visit us at www.mecglobal.com
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