The Nielsen Innovation Lab is a new program designed to spur pioneering ideas and better, faster advancements in the area of advertising effectiveness. It will incorporate assets from across Nielsen with external resources – from clients, industry groups and academia – to enhance understanding of the value of advertising activities across media platforms. Stanford Graduate School of Business has signed on as the first collaborator and will contribute creativity and academic rigor to Lab initiatives.
“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,” said Scott McKinley, EVP/Advertising Effectiveness, Nielsen. “We are excited to work with Stanford and other collaborators through the Nielsen Innovation Lab to develop game-changing research and solutions.”
“In today’s fragmented and results-driven marketplace, the need to assign metrics to ad performance is more important than ever,” said Associate Professor of Marketing Wesley Hartmann at the Stanford Graduate School of Business. “While marketers have many tools at hand, there is more to learn about how and why some advertising works. We look forward to working with Nielsen.”
The Nielsen Innovation Lab will serve as a hub to ideate and source groundbreaking ad effectiveness measurement opportunities, then drive execution of proof of concept on each initiative. Successful projects that address a need in the industry have the potential to become full-fledged solutions.
Nielsen currently delivers advertising effectiveness metrics through the Nielsen Brand Effect suite, both in the U.S. and overseas. These solutions complement Nielsen Cross-Platform Campaign Ratings, which utilizes Nielsen Online Campaign Ratings to deliver unduplicated and incremental reach, frequency and GRP measures for TV and Internet advertising to allow for measurement of integrated marketing campaigns.