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MEC Velocity decodes consumer buying behaviour

Borrowed from epidemiology, the new predictive modelling technique creates purchase journey simulations and predicts consumer behaviour and interactions with brands

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MEC Velocity decodes consumer buying behaviour

Borrowed from epidemiology, the new predictive modelling technique creates purchase journey simulations and predicts consumer behaviour and interactions with brands

BestMediaInfo Bureau | Delhi | June 29, 2015

mec-newMEC has unveiled a new predictive modelling technique – MEC Velocity. Borrowed from epidemiology, MEC Velocity will help create purchase journey simulations and predict consumer behaviour and interactions with brands.

MEC Velocity builds on MEC Momentum, the agency's proprietary approach to understanding and quantifying how consumers make purchase decisions, launched in Cannes two years ago.

James Northway, Head of MEC Analytics and Insight EMEA, said, “With MEC Velocity, we've taken the leap into predictive marketing and given our clients access to a new way of thinking and planning that will have an enormous impact on their advertising, brand and business growth. The beauty of MEC Velocity is that as we, thanks to the increasing number of MEC Momentum studies, add more rich data sets to our model, we become more and more accurate in our predictions.”

MEC Momentum is the largest ever global study undertaken into the shopper journey and the psychology of choice, examining the purchase decisions of over 200,000 consumers to date.

The scale of data from MEC Momentum has enabled the media agency to be the first to introduce advanced Agent-Based Modelling techniques into its strategic planning. Unlike traditional marketing models, Agent-Based Modelling uses a bottom up approach, where every consumer has different rules, intentions and beliefs and where they are able to interact and influence each other, an element completely absent in predictive models up until now. This is particularly powerful for campaigns that encourage engagement, drive word of mouth or use social media.

With MEC Velocity, the agency is able to build simulations that run into the future, predicting consumer behaviour and interactions with brands and services, and the impact on sales and market share in a category. The agency can then simulate experiments by changing key metrics or campaign engagement to see how fast and by how much they will affect consumer behaviour and then sales.

MEC Momentum and MEC Velocity are continually updated to provide clients with the latest insight and can be deployed for bespoke projects delving into specific industry sectors and territories.

Info@BestMediaInfo.com

Info@BestMediaInfo.com

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