IPG Puts Money Where Word-Of-Mouth Is, Uses Price To Measure Social

IPG Mediabrands has unveiled a new platform that is designed to measure social media ROI in terms of hard currency. It is calling the new platform Performly. 

The firm said the platform automatically values a marketer’s social media activities by examining all brand-sponsored Facebook and Twitter activity. It measures earned media inspired by the activity, calculates the value of the earned media against both the client’s paid media pricing as well as industry benchmarks, and aggregates the overall value into a currency dashboard. 

“For years, marketers have questioned the financial impact of their social efforts, and management teams have struggled to prove the true value of a ‘like’ or a ‘re-tweet,’ ” says Eric Weaver, chief social officer for IPG Mediabrands’ G14 cluster. “Equally puzzling has been the impact of social in the overall marketing mix.” Performly, he asserted, “answers all of these questions, by showing the financial payoff of social programs and allowing social to be measured in comparison to other traditional media channels.” 

Performly will help social teams to manage social content based on audience interest -- and now, fiscal value. A daily dashboard will show aggregated earned media value by page, by country or by region. Monthly reports will outline paid social and content optimization. The platform will also enable clients to compare paid to organic activity as well as engagement versus acquisition versus exposure figures. 

“Our clients can tell their management teams the real financial impact of their social media programs,” said Weaver. “This is becoming increasingly important, as content proliferates and organic reach continues to drop, giving marketers an even greater need to prove which content and approach really works."

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2 comments about "IPG Puts Money Where Word-Of-Mouth Is, Uses Price To Measure Social".
  1. Tom Goodwin from Tomorrow , July 4, 2014 at 6:03 a.m.
    When the value of a like has been calculated to be between $0 and $270, I don't see how this could ever work. It's a great idea, but at a time when nobody can come close to measuring the value and most people now except this, it seems like a very expensive way to come up with either a baseless guess or just it telling you " your mum"
  2. Kevin Horne from Lairig Marketing , July 7, 2014 at 12:24 p.m.
    How does a metric like this that is basically "you spent money *here* to avoid spending it *there*" ... (where *there* might actually be more effective) ... have anything at all to do with ROI ?