By Paul McIntyre
EXCLUSIVE: Photon’s former chief executive Matthew Bailey has re-emerged, taking minority stakes in Australian brain monitoring consumer research group, Neuro Insight, and Urchin, Quicksilver’s global comms agency, which created the global charity Movember. Neuro Insight is a Melbourne-based company which has opened offices in New York and London this year, advising advertisers on the brain’s reactions to marketing communications. It is also being heavily used by media firms globally – TV broadcasters including Networks Seven and Nine are using the technology to predict the appeal of TV shows while magazine groups like ACP have commissioned Neuro Insight to study reader engagement with magazine titles.
“If you look at focus groups and quantitative research, there’s tens of millions of dollars being spent and you still see nine out of ten products fail,” Bailey told AdNews. “This is a brilliant technology development which tells us what actually is going on inside the brain and takes out all the guess work.”
Neuro Insight founder, Professor Richard Silberstein, and his management team retain a majority stake in the company and expect “opportunities to arise” from Bailey’s return to the industry, including through his new venture Brand Influence Group. Bailey has taken stakes in Neuro Insight and Urchin through his investment arm, The Bailey Boys (TBB).
Bailey said Brand Influence Group had won two major contracts in the filed marketing sector but would not reveal the names.