On Wednesday, Eric, Greg, and Nathan came to talk to the Marketing Society about Nielsen, you know, that tiny market research company that started in 1923. Today it has grown so large as to include employees and clients from over 100 countries. Whoa! (Or Woah! for those of you who like to spell it wrong.) Eric told us that Nielsen has three main functions: measure, track, and monitor. He said that Nielsen analyzes 55% of the world's advertising, but he also said that number might be low. Nielsen scans billions of transactions in retail stores so they can consult clients on what consumers are buying. They have alliances with many other companies including dunnhumby who came in a few weeks ago. Eric said that clients are split into two categories. One is watch which is where they try to understand media consumption and monitor competitors, and the other is buy which is when they try to understand consumer behavior and help develop and launch new products.
Next, Greg, who has worked at Nielsen for less than a year, talked for thirty minutes about how great the company is. Not really. But he did say it is a terrific placed to work and that he is very impressed. Nielsen can help clients optimize their efficiency with real-time feedback. Also, Greg mentioned that Nielsen would be relocating to the old Goldman Sachs building downtown. Everyone in the room responded with an "oooooo" only to be followed by collective laughing. Greg discussed the shift form offline marketing to online marketing and then within online marketing, a shift from banner ads and such to social media. Nielsen has a three tier model to measure effectiveness. First they look at reach to see if it got to the right people. Then they look at resonance to see, well, if it resonated with the people it reached. Finally, they look at reaction: did the campaign work?
At the end of the presentation, Nathan came up to tell us about his experience as an intern. He told us that Nielsen is seeking A-level talent. He said there is a merit based culture at the company which means that you get rewarded for the work you do. If you are interested in an internship, check out the Emerging Leaders Program at nielsen.com.