ThinkTV launches Media Engine, democratises data to enable econometric modelling for brands
Posted on 23rd March 2022 in Media Releases
The Media Engine empowers marketers to create better briefs by outlining the optimal media splits to generate revenue.
In an Australian first, ThinkTV has launched the Media Engine, a planning aid for advertisers that draws on sales and campaign data from 60 Australian brands across 10 categories with collective annual advertising spend of $450 million and turnover of $23 billion.
The robust, real-life, free tool, available here democratises the data marketers need for designing campaigns. Built with Australian marketers and their agency partners in mind, the Media Engine shows how media can be used to generate significant returns.
The launch follows research conducted by the BetterBriefs Project which found 90 per cent of marketers fail to brief agencies effectively with a third of marketing budgets being wasted by bad briefs, equating to more than $200 billion in global ad spend.
ThinkTV CEO Kim Portrate said: “There’s nothing more powerful than econometric modelling to demonstrate how media investment can generate business results. But not all brands have access to wide-scale modelling. We reckon everyone should have this information at their fingertips to help grow their business. So we built the Media Engine to level the playing field.”
Marketers can select from eight inputs to customise the tool’s recommendation:
Based on these key variables, the Media Engine outlines the ideal media investment to generate revenue returns.
ThinkTV CEO Kim Portrate said: “Great results come from great campaigns and great campaigns begin with great briefs. The Media Engine will help you power up your revenue with all three.”
The engine is fuelled by analysed data from The Payback Series research, conducted by ThinkTV in conjunction with Professor Peter Danaher, Head of the Monash University Department of Marketing and Professor of Marketing and Econometrics, GroupM and global marketing effectiveness consultancy Gain Theory.
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