Blaze Appointed Creative Agency by Places Victoria

Blaze Appointed by Places Vic.

Following a competitive tender process between top Australian property marketing agencies, Places Victoria has appointed Blaze to assist its new residential development project in Point Cook, Victoria. The project will see some of the last and most valuable remaining land beside the Point Cook town centre being developed into an exciting new master planned community that includes two, three and four bedroom townhouses and public open space.

Blaze Australia CEO, Leanne Krstevski said, “Blaze have had an outstanding working relationship with Places Victoria to date. For almost a year we’ve worked to re-brand their Valley Lake Estate which sold-out one land release in record time and dramatically lifted figures overall. We’ve also been fortunate to work alongside the team on their recent Jackson’s Hill project. We’re thrilled that they’ve endorsed a campaign concept that brings something different to the Point Cook residential corridor. We certainly look forward to bringing the premium brand to life for them and seeing the results. It will be quite unlike any other property marketing undertaken at Point Cook, a place that is a very busy property market and which is home to over 25 existing and new estates.”

Places Victoria General Manager Development & Construction Peter Southwell said, “The standard of submissions we received was very high, which made it a very tough decision. Where Blaze’s concepts worked for us was in their concept rationale, which linked the town centre’s locational benefits and the development name, capturing our vision for this premium project. Their clever mix of both high-tech and low-cost ideas also gave us something extra. The submission got our whole team talking about what could be possible – both in terms of general marketing and creating something very aspirational within our display suite.”

The project is located between Point Cook’s shopping precinct, sporting oval and board-walked wetlands area. Approximately 100 two, three, and four bedroom townhouses are being considered for the location, along with selected SOHO style townhouses.

What Will You Buy Tomorrow?

Increases in data and processing power have opened up the potential of predictive marketing analytics for mapping future consumer behaviour, says James Northway of MEC Global Solutions. He outlines the opportunities and challenges of agent based modelling.

MEC PREDICTIVE ANALYTICS MARKETING

NEWS ARTICLE: WHAT WILL YOU BUY TOMORROW?

There is a constant race being run in marketing analytics. In lane one, there is data. As we all know, as each year passes more and more data is created that can be used to describe consumers, touch-points, journeys and decisions. In addition, more data is being merged, fused and connected to amplify this effect. Additionally, the ability to process this data continues to become faster and the costs continue to fall priligy australia.

In lane two is complexity. Marketing executions are far more complex, involving ever more touchpoints across more platforms. Consumer choice continues to grow. Prices change in real time. Life is getting more complicated.

If complexity rises faster than our ability to understand it, our ability to create effective marketing and advertising is actually going to go backwards. Could it be true that we had a better understanding of how marketing worked in the 80s than we do now? It’s a bit more complicated than that.

I believe that we have become better at understanding how certain parts or silos of marketing work, and therefore have been able to exploit these successfully in isolation. For example building, adjusting and flexing the content and user experience on a website is now a finely tuned operation. The same goes for adjusting pricing to optimise profit and erode consumer surplus, or driving demand into websites, call centres or stores through search ( both paid and organic ).

In fact, all three of these examples are so well understood that the model can almost be completely run using only intelligent software. However when you consider the whole marketing effort, or equally look at things through the eyes of the consumer, how everything works together ( or not ), remains difficult to understand, let alone ‘optimise’. To address this challenge, the marketing analytics industry has started to look at mathematical simulations and, in particular, agent based modelling. Mathematically and statistically speaking, this isn’t a new area. But the increases in data and processing power have started to open this up as a viable avenue to explore within marketing.

Agent based modelling has a number of features that make this a really interesting, and quite different, approach to the challenge. Agent based models work ‘bottom up’, rather than ‘top down’ – in plain English this means that instead of working with weekly chunks of data such as sales or exposures, we are working with individual people ( although often scaled up, so one agent in a simulation might represent a thousand consumers ). This moves us away from averages and allows us to take advantage of the growth of data. Instead of treating all consumers the same and working to average effects, all consumers can be different, and the data we work with, can be specific to them.

Because agent based models also integrate probabilities, you rarely get the same result from a simulation twice. While this might initially sound terrifying or just wrong, it’s actually a far more accurate reflection of reality, and also a more useful one.

At MEC, we have been working with agent based simulations over the last two years. In the process, we’ve developed a tool, MEC Velocity, that runs simulated effects of our clients marketing, predicting consumer behaviour and brand interaction into the future. One of the big advantages we have found is that we are able to work with different groups of consumers ( audiences ) within a single model. This enables us to see how different types of consumers react and to build different activation plans accordingly.

Another strength is that by their very nature simulations are time based. We are not only modelling the outcome, but we are working out when changes happen, how long they last for, and when they end. In some categories, it can take months and years for the effects of marketing plans to work through and deliver improvements in sales. This opens a completely new window in thinking about return on investment ( when is the return? ) and testing different plans to deliver shorter or longer term effects.

Furthermore, agent based simulations lend themselves incredibly well to visualizing the models, and this helps to get clients and stakeholders engaged, and to some extent to unravel the mathematics and rules that drive them.

The biggest challenge, however, is still creating confidence with clients in using a relatively new approach and, linked to this, the validation of the simulations. But the nuance of thinking about simulations and likelihood, rather than a fixed forecast, is an important one. Of course no one can predict the future, but visualizing how it might play out, and how that could be different as we change our assumptions or marketing plans, is incredibly powerful.

Right now predictive marketing is probably the most promising approach in the race to keep growing our clients’ business in a competitive marketplace.

James Northway is head of analytics and insight at MEC Global Solutions and EMEA

Original post: 24th March 2016 on Research Live / MECGLOBAL