Information and measurement company The Nielsen Co., best-known for its television ratings, will dive deeper into social media, teaming up with management-consulting firm McKinsey & Co. to form global joint venture NM Incite.
NM Incite will add to the social-media and online-brand metrics, consumer insights and real-time market intelligence of Nielsen BuzzMetrics, which will become part of the new JV. McKinsey will contribute its expertise in sales, marketing, organization, and service operations, in areas including digital marketing, marketing return on investment, word-of-mouth marketing, and consumer-purchase behavior.
The first of three solution areas NM Incite will target, set to launch this fall: measuring and improving marketing effectiveness, product-launch optimization, and customer-service experience.
Dave Hudson, former executive vice president of global client services at Nielsen’s telecom practice, will lead the new JV as its CEO, and NM Incite will be based in New York.
Nielsen CEO David Calhoun said:
Our venture with McKinsey will extend our ability to help clients answer one of the central questions facing CEOs: How to unleash the promise of social media. Our clients want to take full advantage of what is possible. NM Incite will fuse social media with the enterprise, creating new opportunities, efficiencies, and competitive advantage.
Senior executives of global companies instinctively recognize the possibilities of incorporating social-media insight and capability into their organizations. They simply need help to make it a reality. NM Incite, in conjunction with our clients’ other digital partners, will help companies transform how they do business. I’m thrilled by the opportunity to be a part of this new endeavor.
McKinsey global managing director Dominic Barton added:
As our clients’ needs evolve, so our firm continuously innovates in the way we work. Social media is an increasingly critical issue for business leaders and an area of untapped opportunity for many of our clients. This joint venture will equip institutions with real-time insights to help their leaders drive better results.