BEVERLY HILLS, Calif., Feb. 13, 2019 /PRNewswire/ -- Today, NVE announced The Attention Quotient™, a proprietary and first of its kind measurement framework, designed in partnership with Thales Teixeira of Harvard University to measure the full impact of live brand experiences. A leading expert in the Economics of Attention, Professor Teixeira focuses on how to capture and evaluate consumer attention across the marketing mix. The Attention Quotient quantifies how a live activation generates a cognitive shift within the consumer that drives purchase intent, brand affinity, and overall loyalty.
For years marketers have been limited to impression metrics, which provide a limited view of how a consumer actually feels, to quantify the success of a brand experience. With the integration of new data capture technologies, NVE's The Attention Quotient allows brands to dive deeper into these previously fragmented metrics to arrive at meaningful insights that inform consumer profiles, evaluate campaign success, and inform long-term strategies.
Utilizing data captured at various NVE events, Harvard Business School Professor Thales Teixeira oversaw the experiential study and developed a white paper and set of analytics formulas. In "A New Framework to Measure the Impact of Experiential Marketing," he states, "An event generates a combination of factors, directly and indirectly, that collectively have the potential to create a significantly higher value for the brand than traditional and digital advertising." In addition, Teixeira said, "NVE identified a substantial white space and I was privileged to apply my expertise to the strategy, development, and execution of this integrated measurement solution."
"We are excited to open a new door for the event marketing industry and transform the way our clients and partners evaluate success for their experiential efforts," said Brett Hyman, President, NVE. "The Attention Quotient will help our clients analyze and optimize their experiential programming through actionable insights both from a business impact and consumer relationship perspective. We can finally answer the age-old question about event marketing: Did it work?"
To learn more about The Attention Quotient and the agency's commitment to measuring the full impact of experiential, visit the NVE website at www.experiencenve.com/AQ.
About NVE Experience Agency
NVE Experience Agency is a privately-owned experiential and live event production agency based in Los Angeles & New York with 90+ team members spread across four in-house practices: Brand Influence, Event Production, Design Studio and Custom Fabrication (sister company Treehouse Fabrication and Scenic launched in 2017). NVE develops large-scale brand activations, live event productions, consumer engagement programs, tradeshows & conferences, mobile tours and strategic cultural partnerships for some of the world's most iconic brands.
About Professor Teixeira
Thales Teixeira is a faculty member of Harvard Business School's Marketing Unit. He holds a Ph.D. in marketing and is a leading figure in the Economics of Attention. His focus is on how consumer attention can be measured compared to other marketing channels. Thales previously published a paper on this new field of study, "The Rising Cost of Consumer Attention: Why You Should Care, and What You Can Do about It." NVE and Professor Teixeira joined forces to apply these principles to experiential marketing and develop a measurement framework for brands to capture and quantify consumer attention.
Tatum June, Marketing Director, NVE
SOURCE NVE Experience Agency