Nielsen, McKinsey form global social media intelligence JV NM Incite

NM Incite gives companies the capability to better understand value and take advantage of the rich insights made possible by social media.

Piyush Mathur, president for India at The Nielsen Company, noted, "Social media in India is where search used to be three to four years back and brands who take early positions will definitely stand to gain."

Only 8 per cent of social media users in India have not read a product review in the last 12 months and 77 per cent have visited a product website after reading a review on a social media site.

"This gives an idea of how extensively the Indian user is interacting with brands online," added Mathur.

McKinsey will contribute client capability building and expertise in the areas of marketing and sales, organisation and service operations.

"Social media is increasingly becoming too powerful a marketing tool to ignore. This joint venture will help us in delivering to our clients the key to unlock the potential of social media," said Sahana Sarma, head sales and marketing practice at McKinsey & Company in India.

NM Incite is headquartered in New York and is led by Dave Hudson, previously executive VP for global client services of Nielsen's Telecom Practice. Hudson brings more than 20 years' experience in operating and consulting roles, working with clients to leverage Nielsen data to improve business performance and drive growth.