‘Mindshare’ has developed “The Value Exchange framework” as a proprietary process. The framework enables the company to answer a series of marketing questions, develop an exchange structure and implement an exchange program. They have also listed as many as 25 tools across the entire value chain and identified the role of each of these tools are going to play in helping to develop a full-fledged Value Exchange for a client or brand.
Thus Mindshare has developed four tools in business planning (Market Mix Modeling, Brand Metric Modeling, Demand Forecasting and Budget Allocation) and in the process of developing two more tools in the area of Digital and CRM Analytics. In invention, the company has developed two tools “Mindset” and “Encounters” that understands all the touch points of their consumers and providing clear direction on the role each channel plays and three tools in the exchange (Figaro – Optimiser, Admind – Frequency estimator and AdMind – Laydown Planner).
While the four groups ensure simplicity, the challenge will be to work in synergy across regions around the world. Collaboration without turf wars (within the agencies and with other marketing partners of clients) has been always a challenge because of the business models in play currently. One can have all the processes and frameworks to define rules of engagement and behavior and we have done that. But eventually it boils down to maturity of the people working together in an interconnected way, as they are interdependent on each other for success. Also clear client mandates and reward systems are important.
Business Planning and Invention: The Exchange and Client Leadership are clearly identified as four strategic job families in their new organisation. So a complete talent mapping and competency profiling study has been undertaken to reorganise the structure according to the four functions. Currently we have re-structured ourselves to be able to provide for each client, the full Value Exchange. A lot of recruitments have happened from outside the traditional backgrounds from clients, ad agencies, consulting and even studios. There is no point in the re-jig if we reuse the same people. The idea is to infuse fresh talent from diverse backgrounds.
The trick also is to see how simply, sensibly and ubiquitously can relevant content to consumers is fed.
The roots of one Mr.T’s (CEO of the organization) penchant for media goes back to his stints in India with ABCL and Discovery Communications. Today, as part of Viacom, it is observed that his journey from being a hotel management graduate to running the emerging markets division for MTVNI has been exhilarating. Sure, he keeps adding a lot of air miles. But the kind of exposure Viacom has given me across geographies has been simply enjoyable. As Mr.T gets ready to clock a few more air miles out of Mumbai, he is on the phone, back to fighting some little fire in some corner of his far-flung empire. Like Mr.T says, the future is already here.
Even as the re-structuring is in place, the challenge is to execute it and deliver value to the clients. The focus has been launching the new structure across the world. The crux is application on clients business which will take some time. In about six months, they expect to have a far better understanding of the impact. Overall, Proctor sounds confident that the new look Mindshare will be able to deliver the goods. They also expect the revenue shift to move from transactional business to strategically value business. In the coming time, the proportion of revenues from new services will kick in.