Modo25 seeks innovation support to create BOSCO™
Digital marketing agency, Modo25, launches newest service following support from the LEP's innovation support service.
Modo25 is not your average digital marketing agency. The Leeds based start-up, established in June 2019, prides itself on providing performance marketing services for its clients.
For the development of the company’s newest service, the team contacted the LEP’s innovation team for help to bring it to market.
Spotting the gap
Modo25 identified an opportunity to help businesses, especially in retail, to understand more about their digital marketing spend, the return it was giving them and whether their digital investments were working at maximum efficiency.
The company wanted to create a new technology platform that addressed two challenges retail businesses faced when it came to measuring their digital marketing spend: how well their digital marketing performs and what opportunities are there to achieve more growth.
The benefit of external support
Seeking expertise from the LEP, Modo25 was able to bring the concept to reality after securing additional support.
The LEP’s team of Innovation Growth Managers are here to understand a business’ needs and advise on what help is available, whether it’s how to secure investment, exploring the right strategy, specialist advice on Intellectual Property (IP), accessing the right funding routes or assessing ideas and capabilities.
To accelerate the project and maintain momentum, Modo25 knew they needed external help to access skilled experts who could develop aspects of the platform. Innovation Growth Manager, Nick Henderson, worked with Modo25 to assess the current needs and the right solution of support. They were referred into the ERDF funded programme, Access Innovation, and secured additional funding to support the first phase of BOSCO™. This funding allowed them to source senior experts to bring in the specific skills and experience needed to bring the product to market.
Chief Operating Officer at Modo25, Abi Liddle, commented: “As a start-up we were looking for help and although we were clear on what we wanted to do, we had to find new ways to make it happen through external support. Our Innovation Growth Manager, Nick Henderson, was very supportive from beginning to end and guided us through the claims process.
“We needed to find the best experts to implement our thinking. We have data scientists inhouse, and through the help from the LEP it meant we were able to recruit third party companies to work on the front and back-end development,” Abi continued.
“Working with the LEP allowed us to move far quicker which we would not have been able to do without the additional support." Chief Operating Officer at Modo25, Abi Liddle
The impact of building BOSCO™
Since the initial application as part of Access Innovation, BOSCO™ has been launched and is fully operational to retailers. Described as a Digital Marketing Platform Index, BOSCO™ uses sophisticated data models from multiple, trusted third party data sources, to explore how different digital marketing spend scenarios will work. It measures retailers’ digital marketing investment and the effectiveness of their performance across organic and paid media channels. The platform also allows the businesses to compare their digital marketing performance against their competitors.
“Working with the LEP allowed us to move far quicker which we would not have been able to do without the additional support. We have enormous plans for BOSCO™; it went live in late October 2020 to retailers and we will continue to develop and extend its capabilities,” Abi commented.
What does innovation mean to Modo25?
“Innovation is creating something new and purposeful. Finding the cut-through among what others are doing. Innovation is also about inclusivity and getting to those who are unknowingly innovative.
“We encourage people to share their ideas; we don’t claim to have all the answers so if someone has an idea and it’s got sound logic behind it, then why wouldn’t we give it a go? We’re not afraid to fail - if it doesn’t work, we ask why and learn from it. We want to instil confidence in our people to come forward with ideas, to make suggestions and support them to give it the best go,” Abi concluded.
If have specific support requirements around improving or developing new products, processes or services please visit our Innovation page or contact our innovation team. Our team of Innovation Growth Managers can connect and partner businesses with the right support for your project.
The LEP Business Support Service is here to help businesses, get in touch with our helpline to find out more.
Connecting Innovation (and former programme, Access Innovation) is delivered by the Leeds City Region Enterprise Partnership (the LEP) in partnership with the West Yorkshire Combined Authority and is part-funded by the European Regional Development Fund.