Mindshare ‘Loops’ adaptive mktg to paid media
Mindshare is revisiting the role that live data feeds can play in media strategy and decision making. In an attempt to enable marketers to make collaborative and adaptive decisions across paid, owned and earned marketing in real-time, the media agency has launched a data infused ‘war room’ that it calls The Loop. To help power collaborative marketing decisions using The Loop, Mindshare is leveraging its existing partnership with Twitter to provide Twitter Live Studio services for select advertisers in Loop markets.
The Loop, a physical room and also a cultural change in working practice, is already operational in the US. More ‘Loops’ will be installed in Asian markets such as China, India and Singapore in addition to other markets including Austria, France, Germany, Ireland, Mexico, the Netherlands, Poland, Turkey and the UK.
“The Loop will bring about radical changes in the way Mindshare can work with marketers, their agencies, and other open source partners. It’s a transformative step for our business and makes a data driven, adaptive approach to marketing a reality. For the first time, brand marketers will be able to track consumer response, and competitive moves – and adapt the usage of media channels and the content, based on this data, in near real time. We are looking forward to our clients adopting this approach in a big way. We are kicking off first in Delhi with the IPL for Pepsi. Singapore and Shanghai will follow shortly. Based on client response we will take it to more markets in the coming months,” commented Ashutosh Srivastava, Chairman Asia and CEO Emerging Markets, Mindshare.
“The Loop is different because it’s about cultural change not data trawling. It drives a change in working practices that in turn drives behavioural change, both for our clients’ consumer relations, but also how we work across client agency networks to create one focussed team working adaptively, reacting live and seeing trends ahead of the competition,” added Nick Emery, Global CEO, Mindshare.
‘Strategy’ & ‘campaign’
The Loop has two modes – ‘strategy’ and ‘campaign’. In ‘strategy mode’, The Loop enables collaborative and adaptive decision making through the mixing of fast and slow data across a spectrum of different disciplines, including business planning, strategy, creative and communications planning, and across client agency networks.
In ‘campaign mode’, Mindshare takes third party data feeds and tools and combines them with industry leading proprietary media spend, performance tracking and intelligence systems, to provide instantly actionable insight that can be executed in real time across paid media, all backed up by the power of Twitter data.
The Loop is also used to track competitor efforts in paid, owned and earned media, as well as providing intelligence on trending and viral news, videos and pictures; enabling instant decision making at the speed of the zeitgeist.
The paid media bid
The agency claims that this is the first tool of its kind to impact not only earned and owned, but importantly paid media. The Loop enables clients not only to benefit from collaborative and adaptive decision making powered by data, but it also enables the shift of media spend quickly to leverage opportunities uncovered by real time data during campaigns – a holistic process Mindshare calls Adaptive Marketing. By focussing on paid media, which drives owned and earned media, and by bringing together every discipline and stakeholder into a collaborative decision making process, The Loop delivers a core part of the modern marketing arsenal, without which clients can be out of step with today’s fast paced consumer lifestyle.
The Loop includes multiple screens monitoring data from over 100 sources in real-time. Data partners are defined on a market by market basis.
