For a business to succeed, it has to be able to get its message out and connect with customers, but the social media revolution has transformed the marketing landscape. Approaches based on the old mass consumption model are being left behind as the market evolves into a world of mass personalization. There’s a disconnect between the traditional means by which agencies attempt to communicate a brand’s ideas, and the new norms of consumer content consumption.
Little wonder that many brands are unhappy with the results they’re getting from their marketing agencies. A recent study conducted by MediaSense, ISBA, and Ipsos Connect found that just eight per cent of brands are “very satisfied” with their agency partners. Too much money is being spent for too little result. How can a brand fully leverage all the data available in the digital age to its advantage?
New Algorithm Solves Brand Performance and Ranks Popularity
The team at Mass Minority decided the answer was to do the math. The solution they came up with has set their Mass Minority marketing company on a trajectory to explosive growth. The company, which merges data, technology, and creativity to build a brand’s mass attraction, has enjoyed 200 per cent growth year over year since it was founded in 2015.
Mass Minority came up with the Brand Popularity Monitor (BPM) algorithm which analyses a brand’s influence by how it performs in all marketing channels, what its influence is, and compares that to its exposure via traditional paid media. It then ranks the brand against its competitors.
That tells a brand how it’s doing against any select competitor and also identifies what platform is working best in reaching customers, as well as whether you’re over or under invested in any channel to optimize performance.
“The algorithm was a key component to the desire to start Mass Minority,” says Channer, company Founder.
“The algorithm actually is a science of over 30 different mathematical equations. We put a year of diagnostic studies into figuring out how to get them right.”
Influence is everything in today’s market. But Channer says many brands are overpaying for exposure and have little influence to show for it. By using the BPM algorithm and data intelligence, Mass Minority can target what works best for a brand to bring it closer to the performance that drives sales.
It’s a real-time solution that puts Mass Minority miles ahead of other agencies that rely on traditional data gathering techniques like brand studies.
“If people are using brand studies, some of that information might be valuable, but in some cases the information may be from three to six months ago,” says Channer.
“It’s already a little suspect and the margin of error is significant. We’re of the mindset you need to use today’s data to inform today’s decisions, as opposed to using something from the past.”
The Brand Performance Monitor (BPM) equation that started the patent pending algorithmSupplied
Math Coupled with Storytelling Makes a Difference
The cutting-edge math and data intelligence is coupled with the time-honoured art of storytelling to create content that is designed to speak to a brand’s customers in an original and engaging way, while being adaptive to optimize overall performance.
“We really pride ourselves on being able to target the people that are most likely to buy your product and find the right story to align with what attracts their attention. When you can do that, then a lot of the waste is eradicated.
Mass Minority creates multiple pieces of content for its clients and uses its data science team to constantly optimize it. This approach drives relevance and engagement scores up, keeps costs down, and helps Mass Minority clients consistently outperform market benchmarks.
Clients Embrace New Approach
Since being founded three years ago, Mass Minority has created campaigns for companies like Joe Boxer, Nintendo, Grupo Bimbo, Ancestry, Asus, Valens, Groworks, and Serta Simmons Bedding Company. In all cases, the unique data driven approach informed the creative content that will outperform the market
“Watching the data as closely as we do is empowering even though that can lead to some sleepless nights” says Channer.
Advertising feature produced by ICA. The Globe and Mail was not involved.