Category Archives: Marketing

Adding Consumer Intention To Predictive Models: An Interview With Prevedere CEO

The latest from Prosper on Forbes.com

I wrote back in April about how there has been an increased interest in predictive analytics ever since the 2008 recession. However, even with this added attention, most predictions remain largely inaccurate. No one seems to know where the economy is headed, including the Federal Reserve.  A recent article by Prevedere’s Danielle Marceau, a senior economist and data scientist, highlights how the Federal Reserve has continued to demonstrate its inability to forecast the economy. She noted that the bottom line is that “the Fed needs to learn how to forecast,” and went on to say that “analysts should be focusing on leading, predictive indicators such as small business optimism, industrial production and consumer sentiment.”

As more and more economic forecasters recognize that consumers’ actions, future intentions and emotions are a necessary component in forecasting today’s dynamic market, more will turn to adding these insights to their models. Continue reading…

Prosper Insights & Analytics’ Future-Oriented Consumer Insights Now Available to Prevedere’s Customers

Columbus, Ohio —8/1/2016 — Prosper Insights & Analytics™, a leading provider of business intelligence solutions, and Prevedere, a leader in business performance forecasting, announced today that they have formed an alliance to provide ‘a la carte’ access to Prosper’s unique and forward-looking U.S. and China consumer data as a premium offering within Prevedere’s solution. A decade of Prosper’s emotional and mindset data plus future purchase intentions will complement Prevedere’s robust dataset that includes external factors such as global economic, environmental, and consumer behavior leading indicators. This partnership will allow clients to easily integrate these influences into their existing predictive models for more accurate forecasts.  Continue reading

Solving The Ad Waste Issue: A Possibility Or A Dream?

From Forbes on July 12, 2016:

The conference agenda contained a session that jumped off the page and whacked me on the side of the head. It promoted a 6 Step Program for guaranteed marketing improvement and elimination of ad waste. It went on to say something about how today’s markets are different from the past and constantly shifting. The old marketing methods are no longer applicable for today’s marketplace and won’t provide the requisite skills for developing sustainable revenues and profits. But leave your expert resume outside as only those willing to be challenged to change in an interactive environment need to attend.

I had never seen a session that didn’t want you to attend before, nor one that challenged my attitude to change, so I penciled this one in. Continue reading…

New VAB Report Highlights Black Consumers’ Buying Power in Snack Marketplace

From Forbes on March 21, 2016:

Black consumers make a significant contribution to the bottom lines of CPG’s in the snack marketplace according to a new study from the Video Advertising Bureau (VAB). The study called “Insights on Black Consumers; Treats & Sweets” details how Black consumers spend more than the overall market in this category and it identifies the media that influence their snack purchases.

Cynthia Perkins-Roberts, Vice President Multicultural & Emerging Markets for the VAB, shared her thoughts on the findings. Here are some of her comments: Continue reading…

Has Big Data Taken The Human Out Of Human Behavior?

The latest from Prosper on Forbes.com

Consumer Transactions And Clicks Provide Incomplete Picture For Marketers

In junior high school sciences, I learned about Homo sapiens, otherwise known as human beings. I recall that humans are distinguished from other animals by their superior mental development, ability to articulate through speech, think and question, and create things. Later in life, I learned about the human conscious and unconscious mind which determines human actions and reactions to stimuli. No two humans are exactly alike, and I haven’t even gotten into the differences between genders. Continue reading.

Prosper’s Neuromarketing Insights

Today all marketers are faced with an uncertain economy, intense competition and consumers who are in control. Finding a way to better understand consumers and more effectively and efficiently communicate in this new consumer-driven environment is a big challenge to say the least.

Prosper has partnered with the Applied Neuromarketing Consortium and Northwestern University to uncover the conscious likes and dislikes of consumers and link them to their expressed market behaviors. The findings provide marketers with actionable insights to better influence consumers and improve marketing performance.

The Prosper Foundation Supports Advancement of Neuromarketing Research at Northwestern

Prosper’s latest grant provides more insight Into media influence as a means for better advertising outcomes.

WORTHINGTON, OH (PRWEB) AUGUST 18, 2015

With its latest grant, the Prosper Foundation is pleased to continue to support the initiatives of the Applied Neuromarketing Consortium (ANC) at Northwestern University. The consortium consists of leading academics from the Medill School, Kellogg School and the Feinberg School of Medicine. This grant provides access to a new dataset of unique findings based upon questions around the International Affective Picture System (IAPS). It has been integrated with a 4,000 person subset from Prosper’s annual Media Behavior & Influence™ (MBI) Study of more than 15,000 participants. The goal is to better understand and use media influence as a means for achieving improved advertising outcomes.  Continue reading

How The Integration Of Technology And Neuroscience Will Boost Marketing Tech Growth

The latest from Prosper on Forbes.com

The fusion of science and technology is fostering a new era of growth for the marketing tech category. The need for data-driven communication solutions brought about by the growth of the Internet has fueled this growth. The old network message distribution model is about to crumble due to the impact of changes in technology and its adoption by consumers. Marketers are being forced to seek new models such as those based on Neuromarketing which focus on individuals and how the various choices they are faced with can be shifted or influenced at multiple “scales” of behavior (e.g. individuals, group or market/society). Much of this will happen as part of the science of influence. Continue reading…

How Neuromarketing And The Science of Influence Will Change Marketing

The latest from Prosper on Forbes.com

Gary Drenik, CEO of Prosper, recently talked with Dr. Martin Block, a professor from the Medill School at Northwestern and a member of the Applied Neuromarketing Consortium, to discuss new research on Neuromarketing just published in Frontiers in Human Neuroscience. The findings may lead to a whole new way of understanding and influencing consumer behaviors through the science of influence as a promotion variable.

In addition, the current issue of the American Marketing Association’s “Marketing News” features an article written by Dr. Don Schultz, professor (emeritus-in-service) of integrated marketing communications at Northwestern. In this article, Schultz highlights key areas which can create problems for marketers who focus more on distribution of messages than outcomes.

Together these viewpoints highlight how important influence is to marketing, media and promotion.

Click here to read Gary’s Forbes post that includes highlights from his interview with Martin Block, as well as a link to Don Schultz’s article in “Marketing News.”