Mass Minority has launched the Brand Attraction Monitor (BAM), a first-of-its-kind technology that was created to help brands understand the full impact of a campaign's effectiveness across a whole ecosystem in near real time. With this information, an organisation can see how their full range of communication efforts are performing against key competitors. BAM measures a brand's expenditures against the effect on consumer emotion and influence on overall behaviour in-market. This creates a brand attraction score in comparison to key competitors.
Brett Channer, CEO of Mass Minority notes, "Other major marketers, like Unilever, are declaring they are going to build a tool that measures performance across media channels to better understand their overall marketing efforts which will better inform their ROI. This is to announce, we've already built it, and we're using it in market today."
This was an ambitious project, spanning over three years, with a team that included mathematicians, data scientists, business analytics and advertising practitioners, along with millions of dollars in investment. The Brand Attraction Monitor is now a patent-pending product in-market. It is currently being used by leading-edge brands seeking accountability and a better understanding of their overall in-market performance to drive attraction and increase sales.
Using billions of data points from a range of media channel inputs that include paid mass and digital media, social channels, sentiment scores, search, keyword and advocacy metrics, the BAM's patent-pending algorithm uses a proven weighting system to evaluate the cumulative effect of a brand's performance by channel. Also, BAM shows how these specific data points affect one another in influencing the behaviour of the consumer in comparison to category norms and key competitors.