Nielsen and McKinsey Form New Company to Target Social Media Sites for Brand Success
The use of social media networks as a platform for building brand awareness and product loyalty got a boost today from a joint venture of Nielsen and McKinsey.
The two joined forces to create a new company today called NM Incite, which builds upon the industry-leading 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.
“Our venture with McKinsey will extend our ability to help clients answer one of the central questions facing CEOs, how to unleash the promise of social media,” said David Calhoun, CEO of Nielsen. “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.”
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.
"As our clients' needs evolve, so our firm continuously innovates in the way we work," said Dominic Barton, Global Managing Director of McKinsey. "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.