Nielsen has launched an initiative called the Innovation Lab, through which it will combine its existing research with external data - from clients, industry groups and academia - to develop what it describes as 'ground-breaking ad effectiveness measurement'.
The firm currently delivers ad effectiveness metrics through its Brand Effect suite. These solutions complement the firm's Cross-Platform Campaign Ratings system, which uses Nielsen Online Campaign Ratings to deliver unduplicated and incremental reach, frequency and GRP measures for TV and Internet ads.
The new Lab will serve as a hub for emerging ad effectiveness measurement approaches, and then deliver proof of concept for each initiative: those which succeed in addressing an industry need may then be developed into full-fledged solutions.
Scott McKinley (pictured), EVP of Advertising Effectiveness, comments: 'Understanding the true value of advertising represents something of a holy grail for the industry, as we strive to provide metrics that accurately capture how an ad impacts a consumer's short- and long-term brand perceptions and purchases.'
Stanford School of Business has signed up as the Lab's first collaborator, and McKinley says the school will 'contribute creativity and academic rigor' to future initiatives.
Web site: www.nielsen.com .
All articles 2006-21 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.