Essence, the global data of GroupM, and the measurement-driven marketing organization have announced the launch of their Essence Media Health Check program, designed to help advertisers achieve effective business results from their digital advertising initiatives by offering observable improvements in performance over current baselines. It is a service product developed by the agency’s Singapore-based creativity, research and development center, Essence Global Ventures (EGV), and funded by the Singapore Economic Development Board (EDB).
During the early stages of the Covid-19 pandemic, the product was incubated as a strategic aid to marketers facing tectonic changes in consumer behavior, market-wide volatility, and budgetary downward pressures, as a means of accelerating their digital transformation through a series of industry-leading best practices. Essence will further develop and incubate marketing technology products through EGV that use predictive data signals and automation to enhance business performance, customer experience, and company brand governance.
It also makes it possible for marketers to access the digital media capabilities, technologies, and automation tools of the agency. The product provides actionable analysis through media channels and subscriptions to marketing technology, eliminating risk and waste while improving the effectiveness of media campaigns. Essence, senior vice president and media head of APAC, James Smyllie, said they are delighted to help marketers leverage their best-in-class digital best practices and proprietary tools in a fast, efficient, effective and actionable way to optimize their media investment and unlock value in their campaigns with Essence Media Health Check. They found at least 30 to 40 percent improvements in media efficiencies and potential business growth through their pilot Media Health Checks across categories – numbers that would be enormously attractive to any marketer.
Kunal Guha who is the executive vice president of Essence said that they consistently observe swathes of missed opportunities for marketers and this is instant ‘money on the table’ which can be unlocked from margin increases to sales growth for different market scenarios. Essence Media Health Check can be an invaluable platform for advertisers to turbocharge their digital transformation journeys, and through their initiatives in Singapore and internationally, in collaboration with EDB, they are dedicated to helping brands unlock value.