Live ROI helps compare brands in the same category: Philip Talbot, ZenithOptimedia
For the largest part of its existence Zenith Optimedia went by the tag of the ROI agency. That's been jettisoned in favour of Live ROI.
Could you take us through the inception of Live ROI?
We have been the first media agency to apply a rigorous and objective approach to improving effectiveness of marketing spends. However, digital and online media have dramatically increased the way consumers interact and engage with brands and opened up thousands of new opportunities. In this complex and fragmented media landscape, measuring performance and return on investment have become more important.
Our new global strategic positioning, 'Live ROI' delivers the same rigorous approach, but in real-time. In addition we have unveiled a comprehensive global rebrand across all ZenithOptimedia Group companies.
How does Live ROI work?
It can help to compare brands in the same category as well as measure levels of engagement.This can be done through three pillars. The first is active understanding where we gather information on consumer behaviour. Dynamic engagement makes consumers more inclined to buy. And in real time performance,we will use live tracking tools to assess how well the plan is taking shape. How will this new positioning help marketers optimise their investments? It creates better accountability, is a superior contact mix and helps in stronger consumer engagement. The last of these is gauged from repeat purchase of a brand. That also helps to drive advocacy for the brand.
Could you give us examples of how it has worked for some of your clients here?
This new positioning helps brands tweak their initiatives and paves the way for better brand engagement. It helps in a new way of brand conversation. For example in the case of eBay,we sharpened our media strategy with the application of social tools and used insights to drive our offline media strategy, including cricket. For Honda,we explored consumers in the market for buying cars in the next 2-3 months and the live feedback was way different from the regular studies and helped us craft a 'live' media solution.
And for Nescafe,we wanted the new, young connected 'social consumer at the heart of it. Our use of contact mix added to the ROI of the campaign.
What are the challenges that you think you could face with clients for Live ROI?
The confidence to try something new could be a possible challenge. Parting with all confidential information to execute this new philosophy is necessary. But it's a far smarter way of pulling consumers in.
Paid owned and earned media have become the new buzzwords. How does Live ROI help in measuring the individual and cumulative impact of all of these?
ZO has Touchpoint studies - more than 570 — the world's largest database of paid, owned and earned media. Today we have benchmarks running across multiple categories and markets. Live ROI tracks media performance across contact mix, optimises and explores cross dependence.