Econometrics (or MMM) has been well established in marketing for a number of years. Central to it’s ethos is the use of advanced statistics in financial markets and economics to build predictive models. These models can then be ‘decomposed’ to isolate the impact of individual media on company sales. This in turn gives a return on investment of each of the tactics employed, which together with response curves and diminishing returns enables a company to make informed investment decisions on their optimal media mix and laydown. For more about our econometrics and ROI offering visit our page on it here.
More recently the proliferation of data has led to an explosion in data science. This is incredibly useful when you have large complicated data sets and you are trying to interpret them and discover relationships. Often though, the data dominates the science. Companies (and agencies in particular) recently have had something of an arms race in this area, but it is almost always a case of style over substance – they create great stories, branding, logo’s and names to show off their analytics offering – but as a rule of thumb if they can’t explain it in a simple way then it is at best generic, and at worst simply isn’t real.
We do use data science, but we keep a keen focus on the science. We ask hypotheses, and we test those hypotheses by sourcing the right data, and using tests, statistics and applying rigour. All data science is presented in an open and honest way.
The primary area we use data science is in understanding language. Specifically, in using AI to understand the emotions and psychologies behind what is being said in the media about a brand or about topics. For more on this visit our page on media analysis here.
On the left are the four key tenets to which we work when it comes to analytics and data. We offer a fully open approach, discussing the approaches and methodology in as much detail as required.
As a part of all our offerings there is a low cost opening analyses. In econometrics projects we offer a feasibility study, allowing a client to break the project early if the data is unsatisfactory. In media analysis we always recommend a fast dip as a first port of call – often this turns out to be all a client needs, but if they want more it allows questions to be informed, hypotheses to be generated and the project to be much more targeted and effective.
Alex, Founder and CEO
I founded Independent Marketing Sciences with a vision of bringing completely independent expertise in effectiveness and analytics to both brands and agencies. Clients want to trust that their effectiveness partner is completely neutral and objective, using data to provide recommendations and facilitate decision making. Agencies want to know they have an effectiveness partner that is 100% independent and will work collaboratively with the sole motivation of offering the best advice to their clients.
What I love most is helping clients answer questions, solve problems and address challenges. For most clients the objective is how to drive growth in their business, and doing so as effectively as possible. We work hand in hand with our clients to provide both the data and consultancy to drive their businesses forward.
My background is in multiple agency disciplines, having worked in creative, media and communications agencies as well as in local, regional, and global roles. I have built solutions using econometrics, AI and machine learning, focused around paid, earned and social media. Integrating multi-disciplinary techniques to build advanced, effective and most importantly understandable and usable solutions for clients worldwide.
My industry experience includes FMCG/CPG, Services, Automotive, Financial, Travel, Health, and government. From blue chip to niche and start ups.
Corinna, Chief Client Officer and Managing Director
Having worked on both sides of the fence (agency & client side), I joined Alex at IMS because I truly believe in the vision he is driving for – independent expertise in effectiveness and analytics. Both clients and agencies need to know that their analytics partner is striving towards the best for their business with no hidden agenda.
What motivates me & the part of my role I thoroughly enjoy is getting under the skin of our client needs. Understand their business needs and the questions they need to answer, then design solutions that support both tactical and strategic decision making. Ultimately identifying those killer insights which inform strategic recommendations to answer client’s business challenges that will have a real impact on the business.
My background is expertise in analytics (especially MMM). I am an IPA Effectiveness Awards Technical judge and have a breadth and depth of experience gained from various roles. These span research and analytics, measurement and evaluation of media campaigns, channel & creative effectiveness, and in-channel effectiveness. I’ve worked across many brands and categories including Finance, FMCG, Beauty, Telecoms, Charity, Auto and Retail.
Ultimately the key is to have a blend of thorough analytical thinking, strategic vision and pragmatic business sense. I am experienced at growing and building great client relationships, based on trust, and am proactive, passionate and a trusted advisor.
David, Chief Technical Officer
My background is across both media agencies and independent consultancies, working for clients based in the UK and globally. I work closely with clients to ensure the right analytical techniques are used to answer bespoke questions.
I have experience across Market Mix Modelling (Panel, Multiplicative, Nested), Pricing and Promotional analysis, Match Market Testing, Attribution Modelling, Consumer Segmentation, Purchase Funnel Analysis and Brand Attribute studies.
Throughout my career I have built bespoke analytical products for client use, and have driven the development of in-house analytical software. These tools encompass regression, simulation & optimisation, dashboarding and automated reports.
I have experience across a wide array of clients – including Retail, FMCG, Automobile, Luxury, Beverages, Entertainment, Charity, Oil & Gas, Clothing, Pharmaceutical and Finance.
Andy, Commercial Director
My background is building agency businesses in the UK, Europe, US and Asia. Communications, marketing, data, effectiveness. I am unashamedly both client and commercials obsessed, and this influences everything I do.
The work we do for our clients is so good, I want us to partner with the best clients / brands in the industry. Those brands – and agencies – that want to make a huge difference by placing effectiveness at the heart of everything they do, including of course, marketing.
My personal mission at Independent Marketing Sciences is to make us the foremost independent effectiveness and analytics consultancy, not just in the UK, but globally too.