Nielsen & McKinsey: Another Social Shift?

by Jay Deragon on 06/21/2010

The awareness  of “social media” has created an explosive growth in providers offering people and businesses an array of services. At the same time the growth in firms looking to hire “social media managers and strategist” as increased 400% in less than two years.

The current perceived value of these services and positions are low. The average pay scale for a new “social media hire” is $80,000 or less. The average pricing on outside services are low because most sell task oriented products and services, rather than strategic and knowledge based services. The value of the markets offering has diluted the “real value” and propagated a serious lack of understanding, knowledge.

The demand for using and understanding social media will continue however the value of understanding how, what, when, where, who and why just went to a new level.

The High End Knowledge Providers Just Jumped Into the Game

Nielsen and McKinsey form Joint Venture to Help Companies Use Social Media Intelligence for Superior Business Performance

The Nielsen Company (Nielsen) and McKinsey & Company (McKinsey) announced a global joint venture, NM Incite, created to help leading companies harness the power of social media intelligence to drive superior business performance.  NM Incite gives companies the capabilities to better understand, value and take advantage of the rich insights made possible by social media.

The important statements within the recent press release are:

  1. “Our venture with McKinsey will extend our ability to help clients answer one of the central questions facing CEO’s, how to unleash the promise of social media,” said David Calhoun, CEO of Nielsen.
  2. “Our clients want to take full advantage of what is possible. NM Incite will fuse social media with the enterprise, creating new opportunities, efficiencies and competitive advantage.”
  3. “As our clients’ needs evolve, so our firm continuously innovates in the way we work,” said Dominic Barton, Global Managing Director of McKinsey.
  4. “Social media is an increasingly critical issue for business leaders and an area of untapped opportunity for many of our clients.”
  5. This joint venture will equip institutions with real-time insights to help their leaders drive better results.”
  6. Senior executives of global companies instinctively recognize the possibilities of incorporating social media insight and capability into their organizations.  They simply need help to make it a reality.”

Business leaders, the real ones, understand the value of acquiring and applying new knowledge. The value of new knowledge is relevant to providing strategic advantages to an organizations market position. Real leaders pay premium prices for gaining knowledge that enables them to gain stronger market positions. Note the emphasis of value in the above quotes from the press release.

McKinsey & Company is a global management consulting firm dedicated to helping the world’s leading organizations address their strategic challenges. The Nielsen Company is a global information and media company with leading market positions in media measurement, online intelligence, mobile measurement, trade shows and business publications.

What do you get when you put the core competencies of McKinsey and Nielsen together? A combined knowledge inventory that elevates new knowledge based on strategic insights into the use of information and media, social media.

The McKinsey/Nielsen partnership is a game changer in many ways. It will elevate the conversations and raise the bar of expectations for sound strategic advice based on knowledge from all the existing suppliers. It will also produce more innovation from what McKinsey/Nielsen discover and create with their clients.  Innovation is priceless!

The social game just shifted to higher expectations for value based on strategy and not task.

{ 33 comments }

Jo Bain June 23, 2010 at 5:06 am

Going mainstream – creative thinkers in the consultancy world might still win with strategic social consulting though!…http://lnkd.in/ZTyAVx

Ailanthus Advance SL June 22, 2010 at 5:42 pm

Nielsen and McKinsey form Joint Venture to Help Companies Use Social Media Intelligence for Superior Business Performa…http://lnkd.in/ayCBhf

Kevin Richardson June 22, 2010 at 2:01 pm

Reading @JDeragon Nielsen & McKinsey form Joint Venture to Help Companies Use Social Media Intelligence: | http://ht.ly/21Gcv

Alex Hall June 22, 2010 at 8:47 am

Nielsen & McKinsey: Another Social Shift? – http://www.relationship-economy.com/?p=10945

Joe Blaze June 22, 2010 at 1:42 am

RT @JustinFlitter: Nielsen & McKinsey: Another Social Shift? | http://fltr.us/19

Holt Communications June 22, 2010 at 1:27 am

This was interesting Nielsen & McKinsey: Another Social Shift? http://bit.ly/cAoQ06 #socialeconomy http://fb.me/wkUzaVmJ

Holt Communications June 22, 2010 at 1:27 am

This was interesting Nielsen & McKinsey: Another Social Shift? http://bit.ly/cbzRUW #socialeconomy

JDeragon June 21, 2010 at 10:16 pm

If the core competencies of McKinsey and Nielsen apply old models to their social media initiative it will bust!http://dld.bz/hHTr

JDeragon June 21, 2010 at 9:16 pm

Will McKinsey and Nielsen new social media initiative apply old or new thinking to the space?http://dld.bz/hHTr

Mary Kay Rafferty June 21, 2010 at 8:25 pm

RT @JDeragon: Nielsen & McKinsey: Another Social Shift? ##socialmedia ##socialstrategy ##socialbusiness http://bit.ly/cOnDEG.

JDeragon June 21, 2010 at 3:18 pm

It will produce more innovation from what McKinsey/Nielsen discover & create with their clients.Innovation is priceless!http://dld.bz/hHTr

Joe Grasso June 21, 2010 at 2:14 pm

Nielsen & McKinsey: Another Social Shift?: It will elevate the conversations and raise the bar of expec… http://bit.ly/cbzRUW RT@JDeragon

smconnection June 21, 2010 at 2:14 pm

Nielsen & McKinsey: Another Social Shift?: It will elevate the conversations and raise the bar of expectations for… http://bit.ly/bU7W6e

Belinda Ang June 21, 2010 at 12:34 pm

RT @eaglesflite: RT @JDeragon: Nielsen & McKinsey: Another Social Shift? #socialbusiness http://bit.ly/cOnDEG

Dale Lawrence June 21, 2010 at 12:32 pm

RT @JDeragon: Nielsen & McKinsey: Another Social Shift? #socialbusiness http://bit.ly/cOnDEG

Zaheer Nooruddin June 21, 2010 at 12:02 pm

RT @JDeragon The demand for social media will continue however the value of understanding just went to a new level. http://bit.ly/cHdcAf

JDeragon June 21, 2010 at 11:51 am

The demand for social media will continue however the value of understanding just went to a new level. http://bit.ly/cHdcAf

Daria June 21, 2010 at 11:22 am

The social game just shifted to higher expectations for value based on strategy and not task. (via @vadnu) http://bit.ly/bQkxFt

Mads Kristensen June 21, 2010 at 11:18 am

We have now reached the top of the hype around social media – http://bit.ly/cHdcAf

B8106 Marketing June 21, 2010 at 11:08 am

RT @Alltop_Social: Nielsen & McKinsey: Another Social Shift? http://bit.ly/9vVXpq Social-Media.alltop

B8001 Marketing June 21, 2010 at 11:08 am

RT @Alltop_Social: Nielsen & McKinsey: Another Social Shift? http://bit.ly/9vVXpq Social-Media.alltop

B6240 Marketing June 21, 2010 at 11:08 am

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B9032 Marketing June 21, 2010 at 11:08 am

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Lyle Wetsch June 21, 2010 at 11:08 am

RT @Alltop_Social: Nielsen & McKinsey: Another Social Shift? http://bit.ly/9vVXpq Social-Media.alltop

Linda Schenk June 21, 2010 at 10:47 am

Nielsen & McKinsey: Another Social Shift? http://bit.ly/a16p9h

JobShoots June 21, 2010 at 10:46 am

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JobShoots June 21, 2010 at 10:46 am

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Alltop June 21, 2010 at 10:46 am

Nielsen & McKinsey: Another Social Shift? http://bit.ly/9vVXpq Social-Media.alltop

Allen Howell June 21, 2010 at 10:31 am

RT @JDeragon: Nielsen & McKinsey: Another Social Shift? ##socialmedia ##socialstrategy ##socialbusiness http://bit.ly/cOnDEG

prblogs June 21, 2010 at 10:20 am

RelationshipEcon: Nielsen & McKinsey: Another Social Shift?: It will elevate the conversations and raise the bar o… http://bit.ly/bU7W6e

Aron Stevenson June 21, 2010 at 10:20 am

Nielsen & McKinsey: Another Social Shift? http://bit.ly/cbzRUW #socialmedia

StarGazon June 21, 2010 at 10:01 am

Nielsen &McKinsey: Another Social Shift? via The Relationship Economy – The awareness  of “social … http://tinyurl.com/3xs3wc6

JDeragon June 21, 2010 at 9:47 am

Consider: Nielsen & McKinsey: Another Social Shift? http://bit.ly/cmY1I3

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