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Evangelical Synovate Unveils New Model
Synovate has announced with considerable fanfare the forthcoming launch of a new modelling system which it claims will be 'the first to accurately predict what people will buy.' The Brand Value Creator is the brainchild of Jan Hofmeyr, co-creator of The Conversion Model, who joined the agency in the spring.
Synovate makes bold claims for the new system, which it says has 'predictive capabilities that are better than anything on the marketplace' and is 'built on a more comprehensive theoretical model than other approaches'. It claims that hitherto market research 'has been unable to provide an accurate method for measuring the direct sales impact of a company's brand investments', forcing clients to rely on 'bad metrics' and measure 'loosely connected attributes such as 'brand awareness' and 'purchase intent' which do not predict sales results.'
In addition to advertising exposure, the system looks at factors including the way a consumer's mind distorts information, as well as the way physical obstacles, such as product availability and distribution, act as barriers to intended purchases.
The agency says the Brand Value Creator has been through extensive validation already, but that pilot programmes are currently under way with a couple of major brands, while clients given sneak previews have been 'simply blown away'. The system is being launched internally in Cape Town, where Hofmeyr, Global Head of Insights for the Brand & Communications practice, is based (www.mrweb.com/drno/news5305.htm ). A global marketing campaign will kick off on the 30th of November.
Synovate's web site is at www.synovate.com .
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